trading firm

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Meet Wall Street's Most Shameless Failures

'Mulligan Club' keeps hustling disastrous securities

(Newser) - You'd think the men who hyped and traded the financial instruments responsible for the recession wouldn't be allowed to touch another dollar. Instead, they’re “charter members of Wall Street's Mulligan Club,” Steven Pearlstein writes in the Washington Post, buying and trading the same "crappy securities" like... More »

Japanese Swindle Could Cost Lehman $250M

Forged docs from Japanese firm secured big loans

(Newser) - Possible fraud involving forged documents from a Japanese trading firm may have cost Lehman Brothers $250 million, the Wall Street Journal reports. The investment bank loaned funds to a Japanese biotech firm last year; the transaction was secured by top trading company Marubeni Corp. But the biotech firm filed for... More »

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