Each business day HedgeCo.Net keeps you informed with the top hedge fund industry news, opinion and insight from around the globe. From the latest hedge fund launches, to the impact of regulation, competition, and investor activism - we track the topics and people that make a difference to you.
The Columbus Dispatch – The hedge-fund industry, battered and humbled by the market downturn, no longer is planning to fight an increased role for government in regulating and inspecting the secretive investment pools.
Opposition has melted away as the market decline and prominent frauds have shattered the confidence of the pension funds, university endowments, charities and wealthy individuals who invest in the exclusive investment pools.
Is your hedge fund in dire financial straits? Are you totally screwed and now realizing that someone has to take the fall? Has your ponzi scheme enveloped numerous celebrity-endorsed charities benefiting Laotian children with AIDS and been discovered by the SEC?
I’m your man…
I will take the reins of your hedge fund for as long as necessary to establish credibility, then present a dramatic "mea culpa" to the press declaring that my poor decisions have saddled your company with mounds and mounds of "toxic assets" and "ponzi schemery."
International Herald Tribune – J. Ezra Merkin, a New York financier, wrote his investors last month that he too was shocked by the news that Bernard Madoff’s hedge fund was an elaborate Ponzi scheme.
But not everyone sees him as a victim. The New York attorney general, Andrew Cuomo, has issued subpoenas in an effort to determine whether Merkin had defrauded universities and charities when he invested their money with Madoff, a person with knowledge of the case said Thursday.
Cuomo’s office is seeking information from Merkin, the three investment funds that he operated and 15 nonprofit institutions that gave him money to manage. Many of the institutions are now suing Merkin, claiming that they lost millions of dollars when he had invested money with Madoff without telling them.
