Tag Archives: mortgage-lenders
Russian Trader Looses $50 Million In Risky Trades
West Palm Beach (HedgeCo.net) – Moscow’s The Statesman reports that a Russian rogue trader lost his investment bank up to $50 million in risky trades that went wrong in the financial crisis, the Vedomosti business daily reported today. Quoting unnamed […]
Frank looks ahead to the next step
Boston Globe – US Representative Barney Frank yesterday staked out the next battlefront in the economic crisis gripping the world: more regulation of hedge funds, investment banks, and other financial institutions. Frank, who heads the House Financial Services Committee, blamed […]
Icap slumps as barometer reflects banks troubles
Times Online – Some called it chutzpah. Some were more charitable, describing it as an exercise in putting on a brave face. Whatever it was, Michael Spencer’s claim that it was business as usual at Icap, when that company handles […]
Financial Armageddon Possible Tomorrow, Says Tom Wolfe
Gawker – Last week the Observer, Tom Wolfe said the truly rich would be protected from the Wall Street meltdown because all the smart guys had long since decamped for hedge funds, leaving investment banks staffed by "real second-raters." This […]
Hedge funds grab the spotlight on Wall St.
Politico.com – Even as the storied financial names vanish — Lehman Brothers, Merrill Lynch and Bear Stearns — they’re being quietly replaced by less familiar ones: Cerberus Capital Management, Citadel Investment Group, SAC Capital Partners and the other biggest hedge […]
Hedge fund Citadel hires two from Merrill Lynch
Reuters – Hedge fund firm Citadel Investment Group said on Tuesday it had hired two senior sales executives from Merrill Lynch, the investment bank that is being sold to Bank of America for $50 billion. Chicago-based Citadel, which manages around […]
Senate report: Investment banks helped foreigners evade millions in US stock dividend taxes
Los Angeles Times – Big Wall Street investment banks have designed and marketed schemes enabling non-U.S. taxpayers, including offshore hedge funds, to evade millions of dollars in taxes each year on U.S. stock dividends, Senate investigators have found. Some banks […]
KDB made Lehman offer; HSBC may trump Koreans: report
Washington Post – State-controlled Korea Development Bank (KDB) proposed buying 25 percent of Lehman Brothers (LEH.N) for up to $5.3 billion, a newspaper reported, but other Korean banks rumored to be joining a KDB bid consortium denied they were involved. […]
Goldman And Morgan Link Hedge Fund Lending To Their Own Financial Health
DealBreaker.Com – Morgan Stanley and Goldman Sachs are linking their lending to hedge funds to the market’s assessment of the credit worthiness of the investment banks. Morgan Stanley will reportedly evaluate the amount of leverage it will supply to hedge […]
Help wanted on Wall Street
CNN Money – No one would dare go so far as to say that the Wall Street job market is bright. Through June, financial firms of all stripes have shed an estimated 63,000 jobs over the past year, according to […]
Duff: Hedge Funds to Fail at Historic Level
CNBC- For the first time, more hedge funds will fail this year than are originated, according to Philip Duff, of Duff Capital Advisors. In a rare interview with CNBC, Duff said the difficulty in gauging the health of banks has […]
New player on the bad loan scene
Star News Online- Dozens of hedge funds, private equity groups and other investors have plunged into the beaten-down mortgage market in recent months, buying tens of thousands of distressed loans and foreclosed properties around the country. They hope to profit […]
