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Wall Street Comes Down After Dow Crosses 13k

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On Tuesday, stocks ended little changed paring gains after the Dow Jones Industrial Average topped 13,000 for the first time since May 2008, and as economy's prospects were damped by higher oil prices. Dow has went up 6.1 percent to climb above 13,000 before ending at 12,965, while the S&P has climbed 8.3 percent after being driven by signs of improvement in the economy and stabilization of Europe's debt crisis since the start of the year.

Stocks were somehow supported by Greece able to secure a bailout but investors remarked that the news had mostly been priced in to the market.

Investors were provided with a reason to sell after fresh high in oil prices. The U.S. crude futures rose 2.5 percent to a nine-month high of $105.84 a barrel on concerns over Iran supply.

Despite the upbeat news on Greece "we're running into some minor selling pressure, given the extent of the rally we've seen," said Fred Dickson, chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon. In addition, "gas prices across country are raising some questions about earnings," he said.

The Dow Jones industrial average .DJI finished up 15.82 points, or 0.12 percent, at 12,965.69. The Standard & Poor's 500 Index .SPX was up 0.98 point, or 0.07 percent, at 1,362.21. The Nasdaq Composite Index .IXIC was down 3.21 points, or 0.11 percent, at 2,948.57.

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said the banking system, there are technical defects, also has its own responsibility.

credit card transactions a minute or two a and Wang, aged only in his early 20s, there are two handled separately.

the afternoon before the Ningbo People's Court heard the case. The three defendants were charged with theft (financial institutions) sin. If convicted, the huge amount could face life imprisonment. However, the defendant and defense counsel that this conduct did not constitute a crime.

3 people charged with the crime of theft of financial institutions

lawyer pointed out that this is a new type of credit card cash,Louboutin, lawyers for various reasons, the prosecution played a metaphor: a door lock did not someone take advantage of looted this behavior is still to be identified as theft. Prosecutor defendant feedback to the twelve minutes of the Bank,Chaussures Louboutin, to seize the POS machine crime 5 times in 10 days, set to go the bank $ 18 million, a huge amount of theft should set up.

in March 24, they once again be detected in Haishu District, a Guangdong Development Bank branch when committing the crime. Zhang,Nike Tn Pas Cher, Zhao, Wang has been arrested.

so, the group would earn $ 5 million. March 19, on the 20th, they use the same means they did three times, set to go from one bank of 13 million yuan.

20 years ago, the American movie . A cottage version of

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counsel argues that the three people's behavior and illegal possession of a subjective will, because the cardholder has been in repayment.

, Haishu Court held a public hearing the case. Procuratorate charged three people on charges of theft (financial institutions) sin.

this more than a minute, what happened?

the

court, all three defendants plausibly: They just found a loophole in the banking system and then use this vulnerability to do credit card cash agents, credit card cash is not illegal violations. charge a fee. customers automatically knocks on your door to help the defendant said, 42% fee. Cash of $ 10,000, they received 4200 yuan. Subjective, they do not have the illegal occupation of the wishes of all just on behalf of people to do things, closing point fee.

and Xu Ting case The court was converted into a defense of not guilty. Counsel argues that this case, POS, credit card spending, in front of the counter signature to temporarily change the deposit account, these actions are legitimate and the bank recognized the legitimate behavior lead to unreasonable consequences, bank vulnerability.

August 18

In fact, when Zhang first 50,000 yuan deposited Xu who are in different places at once through the POS machine and handed the sum to brush away the 49,980 yuan. However, the amount of POS machine credit card transaction information, have to one or two minutes after the feedback from the CUP to the bank. Counter staff also kept in the dark, not knowing just deposited 50,000 yuan Zhang account has no more and no longer exists 50,000 yuan was then to be taken now.

this year March 14 at 4:00 at half past, Zhang, Wang and Chen (handled separately) to the Bank of China, Xiangshan Branch the Danfeng branch to conduct business. Zhang presented a credit card account,Chaussures Louboutin, and come up with 50,000 yuan in cash to deposit accounts. The counter staff will deposit your money, asked Zhang to confirm the signing, Zhang secretly to offsite Xu (handled separately) called. More than a minute later, Zhang suddenly on the counter staff said the money in the wrong account, the counter staff to transfer money into another account. The counter staff because of his request to transfer money from another account of Zhang.

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