• Big Data Exposes How Politically Connected Traders Cashed In During the Financial Crisis
    http://www.ibtimes.com/political-capital/big-data-exposes-how-politically-connected-traders-cashed-during-financial-

    “Many defenders of finance in the recent crisis suggest that the giant institutions were really taken by surprise when the bubble popped,” said the researchers. “Our results suggest that insiders understood the heavy risk-taking in their banks; They were not simply over-optimistic, and hence they sold more of their own shares before the crisis.”

    #criminels #banksters

    • “Nobody was prepared for this,” said Citigroup executive Robert Rubin, in an emblematic comment. (…) There was virtually nobody who saw that low-probability event as a possibility."

      Researchers tested that storyline against the SEC disclosures of top executives’ stock trades at 170 companies. That survey found a connection between bank executives selling their own personal company holdings and the performance of their firms in the crisis. The connection was particularly intense at firms with high exposure to the housing investments that fueled the crisis, said researchers at Ozyegin University, Universidad Carlos III de Madrid and Universitat Pompeu Fabra-ICREA.

      #merci #banques #profiteurs (perso je n’aime pas le tag banksters)