New York (HedgeCo.Net) - At least David Findel can never be called a band-wagon fan. The owner of mortgage-lender Financial Resources just agreed to pay a record $400,000 to the rights to two of the best seats at the new Meadowlands stadium. That’s just for the rights. The tickets themselves will cost […]

Independent - The FTSE 100 Index tumbled more than 200 points today after a weekend of financial turmoil in Europe.

Investors took scant comfort from Friday’s backing […]

Bloomberg - RAB Capital Plc is trying to freeze client redemptions for three years to avoid liquidation of its flagship hedge fund, which lost almost half its value this year.
RAB fell as much as 14 percent in London trading after it said investors have until Sept. 29 to vote on the plan, which would cut […]

New York (HedgeCo.Net) - The SRM Global Master Fund, headed by former UBS AG star trader Jonathan Wood, is down about 85% over the course of its two-year tenure, according to a report by the Wall Street Journal. 
Launched in September 2006, the fund grew fast, raising over $3 billion in assets in what was […]

Montreal Gazette- IndyMac Bank is under investigation by the FBI for possible fraud involving home loans made to risky borrowers, the Associated Press reported yesterday, citing an unnamed law enforcement official.
The report said it was not immediately clear how long the FBI’s probe of the bank has been ongoing but the probe is focused on […]

Financial Times- Even as politicians and regulators accuse hedge fund short-sellers of trying to bring down banks in Britain, the US and Australia, top hedge managers are providing rescue capital to prop up the ailing corporate world.
The latest bail-out backed by hedge funds is the £4.5bn cash raising by Britain’s Barclays, where five big managers […]

Business Spectator- Hedge funds sharply increased their bets against UK lender HBOS in the first days after the Financial Services Authority imposed new rules on June 13, targeting abusive short-selling and smooth the process for firms raising cash from rights issues, reports The Financial Times.
HBOS, Britain’s biggest mortgage lender, which earlier issued its prospectus […]