CBS News – Here’s a switch: a dozen hedge funds are accusing a California businessman of "playing dirty" with their money and even the name Sarah Palin is a "player" in the defendant’s prior ventures, according to the New York Daily News.

The suit alleges Milton Ault the 3rd stiffed the hedge funds out of their $4.2 million investment in Ault’s firm, Zealous Inc., by shoveling the money into porn, including a publicly traded gentleman’s club and a planned swingers ranch in New York’s Catskill Mountains, according to the paper.

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Tags: ault, california businessman, catskill mountains, cbs, cbs news, defendant, gentleman, hedge funds, money, name sarah, new york daily news, porn, sarah palin, stiffed, york daily news

Bloomberg – Treasury Secretary Timothy Geithner said he’s prepared to oust executives and directors at banks that require “exceptional” assistance from the U.S. government.

“If in the future, banks need exceptional assistance in order to get through this, then we will make sure that assistance comes,” while ensuring taxpayers are protected, Geithner said yesterday in an interview on the CBS “Face the Nation” program. “Where that requires a change in management and the board, then we will do that.”

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Tags: banks, bloomberg, cbs, face the nation, taxpayers, timothy geithner, treasury-secretary

HedgeCo.Net – The "post-Madoff era" and the litigious society in which firms operate today have presented many operational risks that are beyond control.
 Managers are not getting paid to take those risks and the consequences can be devastating.  

Regulatory investigations and private litigations are on the rise and may result in expensive legal defense and the allocation of resources away from your business.

The new administration supports increased transparency and the regulation of
hedge funds.  In addition, there is an immense amount of international pressure in favor of regulation.  This has made it very politically attractive to support the legislation of industry regulation, which may potentially threaten your business.

But there are options.

At CBS Coverage, the Financial Institutions Risk Group is focused solely on protecting your fund, its investors, and yourself.

CBS provides an excellent added value to your hedge fund and can help increase your investor confidence and trust.

For further information, please read our whitepaper
http://www.cbsinsurance.com/finrisk and receive a complimentary
consultation.

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