- Soros warns Europe of disintegration
- Corzine: ‘Bankers are right down there with politicians’
- City star in ‘phantom’ fees probe
- Activist Holders Eye Top Managers for Boards
Soros warns Europe of disintegration – Financial Times
The eurozone area and wider European Union is now “on the brink” of disintegration unless Germany steps up and provides loans at below-market rates to Greece, George Soros, the hedge fund manager, has warned….
“It is 50-50 whether the eurozone breaks up. The damage that break up would cause is so great, that I think that as people realise it, they will pull back from the brink,” Soros told the Financial Times in an interview. “But we are at the brink now…a solution has to be found in a matter of days.”…..
Corzine: ‘Bankers are right down there with politicians’ – Daily Telegraph
The former senator and Goldman Sachs chairman explains why he believes that the US should regulate its investment bankers.
Investment banking is on the threshold of a new and much more regulated era and Jon Corzine, one-time head of Goldman Sachs, former US senator and ex-governor of New Jersey, has seen this kind of thing before……
“If you’re a market-maker, you’re going to run a book and you’ll want to run it intelligently and manage the risk in it and you wouldn’t market-make for clients if you weren’t trying to make money from that, just as you do when you’re a broker
“So I’m a little troubled with dividing away proprietary trading from these institutions. I think it should be dealt with in the leverage rules and the liquidity rules.”….
City star in ‘phantom’ fees probe – Financial Times
One of Britain’s most prominent financiers is being investigated by the City watchdog over allegations that he misappropriated £1.3m.
Ravi Sinha, the former European head of JC Flowers, the private equity firm, has been accused of skimming “fees” from a company owned by his fund. The allegations prompted Sinha’s sudden departure from JC Flowers late last year, which took the City by surprise…..
Activist Holders Eye Top Managers for Boards – WSJ
More executives are switching from running public companies to activist boardroom roles where they can oust executives who run other public companies.
To enhance their credibility in proxy fights, dissident investors increasingly put experienced corporate officials—including some former chief executives—on their board-seat slates, rather than simply propose relatively inexperienced managers from the activist firm. The tactic turns up the heat on the leaders of struggling businesses, and may increase dissidents’ board victories, sometimes resulting in the replacement of the CEO…..
Tags: Activist Investing, European Union, George Soros, Goldman Sachs, JC Flowers, Jon Corzine
