New York (HedgeCo.Net) - Alan Schwartz, former Bear Stearns CEO, has decided to leave JPMorgan and pursue other ventures. 
“With most of the work on the merger integration behind us, Alan will be moving on from the firm at the end of August to pursue other interests,” said JPMorgan CEO Jamie Dimon in a memo […]

New York (HedgeCo.Net) - Credit rating agency Moody’s said on Tuesday that it would probe deeper into why its staff incorrectly rated approximately $1 billion of complex debt securities.
While it was thought to be a computer error that caused the discrepancies in ratings, an external investigation by Sullivan & Cromwell revealed that some members of […]

New York (HedgeCo.Net) - The two managers behind Bear Stearns’ infamous failed hedge funds have surrendered to face charges, in what will be the first criminal lawsuit stemming from the subprime mortgage fallout.
Ralph Cioffi, 52, and Matthew Tannin, 46, are part of an indictment resulting from a yearlong federal securities fraud investigation, according to a […]

CNNMoney.com - It’s time to say goodbye to Old Lane, the hedge fund management company bought by Citigroup last July.
Citi paid a very dear $800 million to snag the fund and its founder Vikram Pandit, who now runs the entire bank, but the fund’s investors got very little out of the deal. One wonders whether […]

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- Bear Stearns Cos plans to turn over documents to securities regulators showing that financial giants like Goldman Sachs Group, Citadel Investment Group and Paulson & Co cut their exposure to the securities firm before its collapse, the Wall Street Journal reported on Wednesday.
The Securities and Exchange Commission (SEC), as part of an inquiry into […]