Bloomberg - The Bush administration will invest about $125 billion in nine of the biggest U.S. banks, including Citigroup Inc. and Goldman Sachs Group Inc., in the government’s latest attempt to shore up confidence in the financial system.
The proposed cash injections in exchange for preferred shares are part of a $700 billion rescue approved by […]

The Times of Trenton - Stocks prices fell sharply again yesterday, ending the Standard & Poor’s 500 Index below 1,000 for the first time since 2003 on speculation banks and real-estate companies are running short of money as the credit crisis worsens.
Bank of America tumbled 26 percent after cutting its dividend in half […]

New York (HedgeCo.Net) - JPMorgan Chase & Co. has purchased Washington Mutual’s branch network for $1.9 billion, making them the largest U.S. bank by deposits. The deal was encouraged by the U.S. government after consumers withdrew over $16 billion from the nation’s largest savings and loan in the latter half of September.
WaMu […]

Here Is The City - Bloomberg reports that CEOs at Wall Street’s top five securities house earned a staggering $3bn between them from 2003 and 2007, during the time when the subprime and toxic securities timebomb was ticking away in the background. Goldman Sachs CEOs were paid the most in this period ($859m), followed by […]

New York Post - The JPMorgan Chase CEO is seeing the coffers of the bank he runs being filled with "billions of dollars a day" coming from hedge funds that have pulled their cash from Morgan Stanley and Goldman Sachs, according to several large hedge-fund managers and other Wall Street sources.
The flood […]

Reuters- Melissa Ko, a former star trader at Bear Stearns, has formed a new hedge fund called Covepoint Capital with nearly $1 billion in assets, according to a letter the firm sent to investors on Monday.
Ko ran Bear’s Emerging Markets Macro Fund, which generated returns of more than 25 percent from 2005 to 2007 […]

Bloomberg- A year after Andrew Rabinowitz yanked his hedge fund’s cash from Bear Stearns Cos. because of concern the Wall Street firm wouldn’t make good on its trades, he’s ready to return.
For Rabinowitz’s New York-based Marathon Asset Management LLC, the lure is […]

New York Post- Taxpayers are all but certain to take a hit on the securities the Federal Reserve accepted as part of JPMorgan Chase’s takeover of Bear Stearns, according to a report by a hedge fund that is an investor in JPMorgan.
The reports comes as the Fed said last week said it valued […]

New York Post- Hedge fund Highbridge Capital Management is trying to raise $1 billion from wealthy investors for a fund focused on buying bank assets hammered by the credit crisis.
According to one investor who was considering committing funds, the planned Highbridge Leveraged Loan Partners will require prospective investors to commit to a three-year […]

New York (HedgeCo.Net) - Troubles keep arising for Bear Stearns, even after its demise and the resulting takeover by JPMorgan Chase.  It seems investors are still targeting Bear after the implosion of their two failed hedge funds last year that kicked off the subprime mortgage crisis. 
Federal prosecutors, along with the SEC, may bring criminal […]

Reuters - Greylock Capital, a hedge fund with about $600 million under management, said on Tuesday it hired several former Bear Stearns senior executives, the latest firm to bring in executives from the investment bank sold to JPMorgan Chase & Co.
New York-based Greylock said it hired A.J. Mediratta, former Bear senior managing director and […]

New York (HedgeCo.Net) - Alan Schwartz may be having second thoughts about his new position at JPMorgan Chase, reports the New York Post. According to the paper, the former Bear Stearns CEO is contemplating JPMorgan’s offer for a non-executive vice chairman position.
It is still unclear as to why. Some believe Schwartz feels uneasy […]