Yearly Archives: 2008
$700 Billion Rescue? Not All Republicans Are on Board with Bush
New York (HedgeCo.Net) – The $700 billion rescue plan proposed by the Treasury and backed by President Bush seems to be greeted with disdain by republicans and democrats alike. After excruciatingly long hearings and even an emergency meeting with the […]
JPMorgan Purchases WaMu Branches for $1.9 Billion
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 […]
Bracewell & Giuliani LLP Announce Legislation Task Force
West Palm Beach (HedgeCo.net) – Bracewell & Giuliani LLP today announced that it has formed a multi-disciplinary Task Force to guide financial institutions, private investment funds, institutional investors and other market participants through the legislative, regulatory and enforcement challenges posed […]
Hedge funds move $100bn into safe havens
Financial Times – Hedge funds charging hefty fees for sophisticated trading strategies aimed at outperforming the wider market have collectively parked $100bn in simple money market funds typically used by investors seeking safe rather than spectacular returns. Citigroup estimates that […]
Credit Derivatives Market Shrinks 12% as Dealers Reduce Trades
Bloomberg – Credit-default swap dealers reduced the volume of outstanding contracts for the first time amid efforts to reduce risks in a market used to hedge against bond losses and speculate on corporate creditworthiness. The volume of outstanding trades fell […]
SEC advances pair of hedge fund cases
Forbes – A federal judge in Florida ruled Wednesday that the head of two hedge funds deceived investors about the funds’ holdings. Elsewhere, federal regulators accused a California investment adviser of making tainted recommendations to clients. In the Florida case, […]
Nomura grabs Lehman Asia unit
Reuters Tokyo – Japan’s Nomura Holdings is to buy the Asian operations of Lehman Brothers, a source with direct knowledge of the deal said on Monday, outbidding other banks seeking to scoop up the bankrupt U.S. bank’s Asian assets. The […]
PM turns attention to world poverty
Independant – Gordon Brown will hail a new £1.5 billion drive to eradicate deaths from malaria in the developing world by 2015 at an emergency United Nations summit on world poverty and disease. The initiative, to develop a vaccine and […]
RLPC-Leveraged loans sag as hedge funds sell-traders
Reuters – Leveraged loan prices fell on Wednesday as hedge funds facing redemptions and forced to cover short equity positions sold loans, traders told Reuters Loan Pricing Corp. Leveraged loans have declined over the past week amid a rout in […]
Hedge Funds In The Microwave
Forbes – In an op-ed in the Financial Times on Monday , I described the unraveling and demise of the shadow banking system that started with non-bank mortgage lenders, structured investment vehicles (SIVs) and conduits, major independent monoline broker dealers […]
Seven hedge funds bet millions on Irish banks falling
Irish Times – Seven international hedge funds have bet hundreds of millions of euro that Irish bank stocks will continue to fall. Although it is normal stock market practice, since last Friday short-selling of the four Irish publicly quoted banks […]
Financial Services Authority threatens heavy fines for short-sellers
The City’s regulator has threatened to impose unlimited fines on investors that breach its new rules on betting against UK bank shares amid a flurry of late disclosures by hedge funds. The warning came yesterday as Gordon Brown promised new […]