Tag Archives: news-briefing
Pacificor Hedge Fund Faces Lawsuit
New York (HedgeCo.Net) – The hedge fund formerly run by the late Michael Klein has been sued by two individuals who owned a mortgage lending business in which the fund had a stake. John and Kitty Gaiser are suing California-based […]
John Paulson Buys Mortgage Bonds as Hedge Fund Losses Widen
Bloomberg – Money manager John Paulson has started buying beaten-up mortgage bonds as hedge funds stumbled for a fifth straight month. Paulson, 52, is purchasing debt backed by home loans after generating sixfold returns last year with help from bets […]
Citigroup Purchases Wachovia, Reclaims Throne
New York (HedgeCo.Net) – Citigroup Inc. has purchased Wachovia’s banking operations at a price tag of $2.16 billion, or roughly $1 a share, after losses stemming from bad mortgages rendered a resurfacing nearly impossible. Citigroup will now have around 4,300 […]
FBI probes IndyMac Bank for possible fraud
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 […]
