))
Ep 36: Pseudo-Capitalism
Archived series ("Inactive feed" status)
When?
This feed was archived on December 09, 2017 16:03 (
Why? Inactive feed status. Our servers were unable to retrieve a valid podcast feed for a sustained period.
What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.
Manage episode 181008743 series 1116756
Content provided by Jim Sawyer. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Jim Sawyer or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Fraud always involves deception. With increasing frequency, we are beset by fraud-laced schemes. Remember the Wells-Fargo banking scandal in which two million fake customer accounts were created?
Here’s an even more jaw-dropping example of pseudo-capitalism, from Germany.
A man bombed a soccer team’s bus, allegedly, but first, he rigged the market.
The perpetrator borrowed shares of a soccer team’s stock. Then he bombed the team’s bus, injuring one person.
He assumed his bomb would trigger a drop in public confidence and therefore stock price. This should allow him to repay his recently borrowed block of shares, with shares purchased at the now-lower price. His expected profit? Over one million Euros. This stock market trick is called selling short.
Fortunately, detectives searching for the bomber wised up to his financial motive.
Sometimes, crooks act surprisingly like legitimate stock traders and corporate executives. And vice versa.
– Jim Sawyer, Boulder CO.
One episode
Share
