- White House Inflates success of Loan Program, Watchdog Says
- Dubai World creditors face nine-year wait for their cash
- Financier Is Pulled Back Into Focus
- Deutsche Bank, Moore Capital Workers Probed on Insider Trading
- Soros Buys $38 Million in Lehman Claims From Goldman
White House Inflates Success of Loan Program, Watchdog Says – Bloomberg
The Obama administration is inflating the success of its main foreclosure prevention program, which may end up doing more harm than good by “spreading out the foreclosure crisis” over several years, according to federal investigators. “A year into the program, although more than a million trial modifications have been initiated, the number of permanent modifications thus far, 168,708, has been, even according to Treasury, ‘disappointing,’” according to a report by a government watchdog obtained by Bloomberg News. “The program will not be a long-term success if large amounts of borrowers simply re-default and end up facing foreclosure anyway.”…..
Dubai World creditors face nine-year wait for their cash – Guardian
Creditors of Dubai World, which include RBS and Lloyds, could be forced to accept repayment delays of as much as nine years in a sign that the recession is putting pressure on lenders to take what they can out of troubled investments….. The plan will be presented to a steering committee of about 10 banks, including Standard Chartered, HSBC, Lloyds and RBS, at a meeting as early as tomorrow , according to reports…..
Financier Is Pulled Back Into Focus – Wall Street Journal
Louis Moore Bacon, 53-year-old founder of Moore Capital, is among the most successful hedge-fund managers in history, and he has the 435-acre island to prove it.
The secretive hedge-fund manager’s vehicle, Moore Capital, is in the news because it has placed one of its employees, London-based execution trader Julian Rifat, on administrative leave after Mr. Rifat’s arrest for alleged insider trading. Moore said in a statement that it is cooperating with the investigation, and that it understands from the U.K. Financial Services Authority, which made the allegations, that the Rifat investigation doesn’t involve any funds managed by Moore…..
Deutsche Bank, Moore Capital Workers Probed on Insider Trading – Bloomberg
Employees at Deutsche Bank AG, Exane SA and hedge fund Moore Capital Management LLC’s U.K. unit are being investigated as part of the U.K.’s largest crackdown on insider trading. In all, six men were arrested yesterday including a Moore Capital employee after 16 addresses were raided in London and south-east England by the Financial Services Authority. The FSA didn’t release names or details on who was arrested…..
Soros Buys $38 Million in Lehman Claims From Goldman – Bloomberg
Soros Fund Management LLC bought $38 million in claims on bankrupt Lehman Brothers Holdings Inc. from Goldman Sachs Group Inc., according to court filings today. The claims consist of Lehman program securities, according to the filings. The purchase price wasn’t disclosed. The Soros firm’s Quantum Partners Ltd. was the buyer…..
Tags: Barack Obama, Dubai World, George Soros, Hedge funds, Insider Trading, Lehman Brothers, Louis Bacon, Moore Capital, Mortgage loan modifications, mortgages, Politics, UK
