New York (HedgeCo.Net) - Auto executives stood before Congress yesterday and requested a $25 billion rescue package, pleading that their industry was going under fast. After allocating billions to bailouts in recent months, the auto industry was met with quite a bit of reluctance from many of the same individuals who were all for […]

Gotham Gazette - The turbulent financial market events of recent days demonstrably signal the end of Wall Street as we know it. More uncertainty lies ahead, on Wall Street but also for the national economy. How is this affecting New York and what will it take to get the economy moving again?
Six months ago, a […]

New York (HedgeCo.Net) - Just one day after reaffirming their stance they would not rescue America International Group Inc., the Fed has agreed to lend the collapsing insurer $85 billion in exchange for a 79.9 percent majority stake.
The Fed justified the move, stating “a disorderly failure of AIG could add to already significant levels of […]

New York (HedgeCo.Net) - The recent controversial moves of Henry Paulson and the U.S. Treasury have Washington divided not only on the future of Fannie Mae and Freddie Mac, but on government’s new role in the U.S. mortgage market.   
On Monday, Paulson and Federal Housing Finance Agency Director James Lockhart placed the two mortgage giants […]

New York (HedgeCo.Net) - While the U.S. Treasury has done all it can to stave off rumors of a government bailout of Fannie Mae and Freddie Mac , some say the inevitable rescue is bound to take place after attempts to raise capital for the two mortgage giants have proved futile.
Preferred shares […]

CNN Money - Third Point Management, a New York hedge fund run by one of the country’s most outspoken and controversial investors, has come under investigation from the Securities and Exchange Commission.
The $5.6 billion fund, whose founder Daniel Loeb is well known for his pointed regulatory filings targeting chief executives he deems underperforming, informed investors […]

Reuters - Billionaire investor George Soros hiked his stake in Wall Street firm Lehman Brothers to 9.5 million shares as of June 30 from 10,000 shares, according to a U.S. regulatory filing on Thursday.
Soros disclosed the quarter-over-quarter increase in a filing with the Securities and Exchange Commission.
Soros raised his stake in Lehman ahead of a […]

San Francisco Chronicle- The giant housing rescue plan President Bush signed Wednesday might help stanch the bleeding in the housing market, but experts on both sides of the political divide worry that it is, at best, only an emergency step.
In addition to $300 billion in government guarantees to aid homeowners threatened by foreclosure, the administration […]

New York Post- If the Securities and Exchange Commission expands its clampdown on short-selling, it is widely expected to slam hedge funds like Stephen Cohen’s SAC Capital and James Simon’s Renaissance Technologies, which profit from fast-and-furious trading, experts predicted.
That’s because under the long-accepted rules of the short-selling game, these hedge funds, which often […]

Globe and Mail- Hedge funds may post their worst month in at least five years after bets on financial stocks falling and on crude oil rising backfired.
Hedge Fund Research Inc.’s Global Hedge Fund Index of more than 55 funds slid 3.2 per cent through July 24, heading for the biggest monthly drop since the measure […]

Gulf Times- Managers from William Ackman to Jim Rogers made a total of at least $1.4bn in July with wagers against US mortgage financiers Fannie Mae and Freddie Mac, according to data compiled by Bloomberg.
Harbinger Capital Partners staked $665mn that UK mortgage lender HBOS would drop and Sao Paulo-based hedge-fund manager Francisco Meirelles de […]

The Australian- The SEC’s decision to take a hard line on the illegal practice of naked short-selling is a band-aid attempt to fix a problem that is plaguing most stock markets in various guises, but at least it is having a go.
The order lasts 30 days and covers 19 stocks, including the Wall Street jockeys […]