Friday, June 20, 2008
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FOXBusiness- With record losses from the subprime and credit crisis veering towards the $400 bn mark, here come the market police.
In the crosshairs: Hedge funds, including the indictments of the two Bear Stearns hedge fund managers.
A senior law enforcement official said in an interview that hedge funds now sit at the top of the hit list of federal investigations into the subprime crisis, including at the Department of Justice and the Federal Bureau of Investigation. Expect more announcements of hedge fund indictments in coming days, sources say.
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Tags: american-bar-association, criminal-charges, eliot-spitzer, eton-park, german-prosecutors, hauser, housing-market, party-vendors, shawky, slots
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Monday, June 16, 2008
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Bloomberg- Wall Street is losing its top oil analysts as securities firms suffer record losses and hedge funds offer the promise of higher pay.
Morgan Stanley’s Douglas Terreson and Citigroup Inc.’s Doug Leggate, ranked first and second by Institutional Investor on coverage of the biggest oil companies, left their positions, the banks said. Geoff Kieburtz, the No. 3 analyst for oilfield contractors, is leaving Citigroup. Robert Morris, the top-ranked analyst for independent oil companies such as Anadarko Petroleum Corp., left Bank of America earlier this year.
Exxon Mobil Corp., Anadarko and other oil stocks rose to all-time highs this year as crude futures surged 46 percent to a record $139.89 a barrel and natural gas jumped 73 percent. The exits also came as banks and securities firms cut more than 83,000 jobs after the collapse of the subprime mortgage market led to $390 billion in writedowns and losses.
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Tags: arthur-sulzberger, cash-bonds, credit-default-swap, curbs, default-status, exxon-mobil-corp, german-prosecutors, investment-firm, investor-money, onshore, party-vendors, retail-gas, toast, wood-creek
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