Monthly Archives: June 2010
No summer rest for investors
SunTimes – There’s plenty for investors to ponder as the lazy days of summer arrive. The stock market is steady again after a stomach-churning May. But the Standard & Poor’s 500 index is still down 12 percent since a bull-market […]
Goldman Sachs Ordered To Pay $20.6 Million Related To Bayou Hedge Fund Fraud
American Banking – The Financial Industry Regulatory Authority has ordered Goldman Sachs (NYSE: GS) to pay $20.6 billion to victimized investors of a Ponzi scheme run by Bayou Hedge Funds. The three-person arbitration panel for the financial regulatory agency ruled […]
Wall Street still in the hedge fund game
Reuters – It appears Wall Street investment banks can stay in the highly-profitable hedge fund business after all. An overhaul of financial regulations hammered-out by U.S. lawmakers after weeks of negotiation would permit Wall Street banks to continue to manage […]
A Hedge Fund’s Big Bet on 4G
BusinessWeek – Philip Falcone’s Harbinger Capital Partners has placed a large and risky bet on 4G wireless Internet service by paying an estimated $500 million for SkyTerra Communications. The hedge fund’s filings with the Federal Communications Commission lay out a […]
Summary Of Major Provisions In Financial Overhaul Bill
Dow Jones – The sweeping financial overhaul legislation negotiators wrapped up early Friday morning would constitute the biggest overhaul of U.S. financial regulations since the 1930s. The legislation, broadly, is designed to close the regulatory gaps and end the speculative […]
Ex-Goldman, Barclays Derivatives Traders Plan Asia Hedge Fund
Bloomberg – A group of derivatives traders from firms such as Goldman Sachs Group Inc. and Barclays Capital are starting an Asia-focused hedge fund to profit from price swings. Singapore-based RSR Capital Pte plans to raise about $500 million in […]
U.S. Banks, Funds to Face $19B Levy
The Street – U.S. lawmakers chose to force banks to spin off their swaps desks but made significant concessions to Wall Street in the early hours of Friday morning as they finalized sweeping financial reform. In a marathon conference session […]
House-Senate panel approves sweeping reform of big banks
MarketWatch – House and Senate lawmakers early Friday approved the most significant increase in the regulation of U.S. banks since the Great Depression, placing new restrictions on the nation’s biggest lenders, reining in the Federal Reserve and crafting new consumer […]
EU Hedge Fund Rule Talks Break Down
NYT – Talks have collapsed between the European Parliament and national governments over new controls for hedge funds due to a continuing dispute over licensing for funds from outside the bloc, Reuters reported. On Thursday, the parliamentarian leading negotiations with […]
Galleon Trial: Hedge Fund Founder Asks For Details of Charges
New York (HedgeCo.net) – Reuters reports that Galleon hedge fund founder Raj Rajaratnam and co-defendant Danielle Chiesi are asking more details of the purportedly illegal trades they are charged with, as well as separate trials. Rajaratnam and Chiesi are alleged […]
People Moves: Dr. Barbera Joins Mount Lucas Hedge Fund
New York (HedgeCo.net) – Wall Street economist Dr. Robert J. Barbera has joined global macro investment manager, Mount Lucas Management Corporation, as Chief Economist. Dr. Barbera is accompanied by his long-time associate, Jackie Kadre, who has been named Economist at […]