You mean barclays (with s ) pak not not barclay bank...gak ada di company code
tuh...
bangkrut.... waaa..... hehehehe....the largest bank in U.K. bangkrut...?
kalau iya sudah rontoklah sistem perbankan dunia ini...
dibawah ada story mengenai barclays....mudah2an bahasa inggrisnya gak terlalu
sulit buat dipahami...
salam
Barclays Asks Court To Dismiss Suit Stemming From SEC Probe
+Barclays+ PLC (BCS) says a former employee accusing the bank of turning a
blind eye to the questionable trading practices of its distressed-investing
desk wasn't entirely upfront about his own role in the affair, which has
spurred a federal securities investigation.
The U.K. bank is asking a U.S. district court in New York to throw out a
lawsuit filed by Michael Econn, a former investment analyst who worked for
+Barclays+ Capital's debt-trading desk. Econn claims he was punished for
refusing to cover up the desk's trading of +bankrupt+-company debt while in
possession of confidential information gained by sitting on bankruptcy creditor
committees.
Econn, who left +Barclays+ in 2004, said his compensation was cut and he was
forced to cover his own legal fees after the bank found out he had revealed
information about the desk's trading activities during a Securities and
Exchange Commission investigation begun in 2004.
+Barclays+, however, said it stopped paying Econn's legal fees during the SEC
probe because he withheld from it crucial information about the debt-trading
practices.
"In April 2006, +Barclays+ learned that during the two years of the
investigation Econn had concealed from +Barclays+ important information about
efforts of his co-workers to obstruct internal and external investigations,"
the bank said. "Econn only revealed that information when compelled to testify
pursuant to SEC subpoena."
+Barclays+ called Econn's claim that he's entitled to unpaid bonuses and
equity awards "frivolous."
An attorney for Econn wasn't available to comment Friday afternoon.
The bank said Econn himself failed to inform its legal department, compliance
department or his supervisor on the distressed-trading desk that he had signed
a form "specifically prohibiting" transactions in the debt of Galey & Lord
after joining the creditors committee in the company's Chapter 11 bankruptcy
case.
"After the official creditors committee formation meeting, the desk continued
to trade in Galey & Lord debt," +Barclays+ said.
Econn said the distressed-trading desk, which held and traded the debt of
companies in or approaching bankruptcy, began joining the committees that
represent unsecured creditors in Chapter 11 cases in 2002. Members of creditors
committees receive non-public information and are often barred from buying or
selling a company's debt.
Econn claims the +Barclays+ desk kept trading the debt even after getting a
seat on such committees, explaining that the trades were allowed if the
counterparty signed a "big boy" letter acknowledging that +Barclays+ might have
access to non-public information.
In the March lawsuit, Econn said he "made it clear that he would not
participate in a cover-up." +Barclays+, in turn, "chose to impose penalties on
Econn and eventually force him to leave, breaching its compensation
obligations."
The trading activity caught the eye of the SEC in April 2004, about a year
after the Galey & Lord creditors committee sought the distressed desk's records
on suspicion that the desk had traded the textile company's debt in violation
of the agreement Econn signed.
The SEC has expressed concern that investment firms, notably hedge funds,
have misrepresented the extent of their holdings to get on a +bankrupt+
company's creditors committee and have allowed confidential information
obtained by sitting on such a committee to pass on to its traders.
The agency took notice when Blue River Capital LLC founder Van Greenfield was
accused of lying to get on the creditors committee in WorldCom Inc.'s Chapter
11 case. Greenfield, who paid a $150,000 fine to settle the charges in November
2005, was also accused of allowing insider information he obtained from the
committee to pass to his firm's traders.
After the inquiry from the Galey & Lord committee, +Barclays+ tapped law firm
Allen & Overy to conduct its own inquiry. The bank said it "actively
encouraged" cooperation with the SEC investigation.
James Arifin <[EMAIL PROTECTED]> wrote:
udah dong uncle suruh bozz jual aja portfolionya daripada kena margin
call. Saya lupa tuh ada FUND MANAGER yang pintar banget bikin Barclay Bank
bangkrut more than the bank profit margin. Ingat FUND MANAGER juga manusia yang
bisa buat salah.
On 5/31/07, laksono dwighty <[EMAIL PROTECTED]> wrote: nggak
jelas..... hehehehe....
ngomongnya bentley and ferrari...padahal cuma punya innova
tapi lucu juga... never in this world that a fund manager would have their
loss more than their profit margin territory.... within a month...?
1850..? bisa aja sih...kalau semua fund manager buta...
capek deh...
James Arifin <[EMAIL PROTECTED]> wrote:
hahahah ... emang bilang 1850 langsung terjun yah boss, perlu waktu dong
sama seperti bilang ke 2600 juga perlu waktu. Selama itu yah trading dong masak
melongo aja market naik turun. Terus apa saya bilang beli??? Ferrari paling
disukai karena warnanya yang merah menantang ... Bentley biru memang menarik
tapi merah lebih seksi dan kebut
On 5/31/07, laksono dwighty <[EMAIL PROTECTED] > wrote: kok
posisi beli...? bukannya indek mo ke 1850..? hasil kongkow2 kemaren..?
James Arifin <james.arifin@ gmail.com> wrote: gue nggak naked short aja
turun, cuma gudang jadi kinclong ama lebih lega ... mau ganti ama Ferrari aja
nggak tertarik ama Bentley.
On 5/31/07, laksono dwighty <[EMAIL PROTECTED] > wrote: my
biggest support for you pak.....
biasanya yang ngomong negative dah gak punya barang and kalaupun ngeshort
paling banter 2 lot atau 3 lot.... yang penting ngomongnya gede pak....
Vic <[EMAIL PROTECTED]> wrote:
dah gw baca. ternyata tp naik dari 36500 jadi 44500. rating netral,
rekomen buy buat short term. kalo pake skenario 1 tp 61721. pake
skenario 2 tp 98179. ternyata di milis banyak plintiran heheheh.
asik jg gw ngeliat banyak yg dah gak punya barang tapi rajin banget
komen negatif. artinya masih ngarepin dapet barang murah kan heheh.
masih banyak yg cinta mining euy. harap2 cemas hahahahah
ayo donk jgn omdo. ngeshort donk. biar gw pungut di bawah neh.
kalo emang bandar dibikin turun lagi donk. 45000 gicu. kalo cuma ritel
kayak gw mending diem aja deh. gak epek soalnya.
--- In [email protected] , "Andri Wijaya"
<[EMAIL PROTECTED]> wrote:
>
> TARGET 44500
> selamat membaca
> regards
>
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