Wall Street Folly

Warren Buffett’s Berkshire Hathaway is the best regarded U.S. company, Goldman sits at the bottom with Fannie, Freddie, Citigroup and AIG!; $2.5B “Christmas capital’ present for U.S. Banks?; No federal charges for AIG?; Wilbur Ross said to be backing Virgin Money RBS branch network bid; Macro hedge funds not benefiting from int’l crises; Madoff investors may see no brokerage sale cash; iPad teardown findings: round up the usual suspects

Posted by WSF On April - 5 - 2010
  • Buffett’s Berkshire is best-regarded U.S. company
  • US banks in $2.5bn ‘Christmas capital’ gain
  • Federal Prosecutors Leaning Against Charges in AIG Probe
  • Wilbur Ross backing Virgin Money in RBS branch bid
  • Macro hedge funds fail to profit from crisis
  • Madoff investors may not see cash from brokerage sale Read the rest of this entry »

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WSF

Jamie Dimon expresses regrets to shareholders — they didn’t need the FDIC guarantees, also, he’s looking for his successor; NY Fed reveals the Bear Stearns / AIG crap on their books; Geithner concedes jobless rate will remain ‘unacceptably’ high; Andrew Cuomo’s Madoff probe of closing Ivy Asset heating up; UK charges seven from banks’ printers in insider trading ring; General Growth files Ch11 exit plan; On the eve of the iPad’s debut Amazon caves on discount E-book pricing

Posted by WSF On April - 1 - 2010
  • JP Morgan’s Dimon Regrets Using FDIC Guarantee Program
  • Fed Opens the Books on Bear, AIG Toxic Assets
  • Jobless Rate Will Stay ‘Unacceptably’ High: Geithner
  • Ivy Asset Draws Probe Over Roles With Madoff
  • Seven Charged in Inside-Trade Ring at Banks’ Printers
  • General Growth Files $6.55 Billion Plan to Exit Bankruptcy
  • Amazon Gives Way On E-Book Pricing Read the rest of this entry »

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WSF

Social Security payouts will be more than inflows THIS year, not in 2016 as CBO had predicted; Merkel’s terms for Greece aid are out; Dubai offers Dubai World $9.5B new funding; UBS director arrested for insider trading; Another nabbed in UK insider trading ring; B of A’s new mortgage foregiveness plan; Wells Fargo buying GMAC factoring; Bernie Madoff associate Bonventre indicted; USPS closer to eliminating Saturday mail delivery; Tiger Woods will face media questions on April 5

Posted by WSF On March - 25 - 2010
  • Social Security to See Payout Exceed Pay-In This Year
  • Merkel Sets Greek Terms, Calls IMF-EU Aid Last Resort
  • ECB Offers Olive Branch to Greece
  • Dubai Offers Dubai World $9.5 Billion in New Funds
  • UBS Director Poteroba Is Arrested for Insider Trading
  • Seventh Person Arrested in U.K. Insider Trading Probe
  • Bank of America to Reduce Mortgage Balances
  • Wells Fargo to Buy GMAC Assets Read the rest of this entry »

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WSF

Trichet rejects Greece loan subsidy; Greece claims it’ll fix its problems on its own even though it looks like its economic problems look to be worsening; Plans to finally deal with Fannie / Freddie on tap?; Madoff victims appeal; Buffett may buy more liquor companies; Google defies Chinese government and ends its own censorship; EU ruling could put damper on Google keyword usage

Posted by WSF On March - 23 - 2010
  • Greek economy ‘to worsen’ in 2010 says central bank
  • Greece to Address Problems ‘On Our Own’
  • Greek Impasse Deepens as Trichet Rejects Loan Subsidy
  • Plan to Reshape Mortgage Market
  • Madoff Victims Appeal Ruling on Method for Paying Fraud Claims
  • Buffett May Buy More Alcohol Distributors After Empire Purchase
  • Google Ends Self-Censorship, Defies China Government
  • Google Keyword Usage May Be Restricted by EU Ruling Read the rest of this entry »

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Bernie Madoff, Google, Warren Buffett

High blood pressure? Bernie Madoff said to have gotten the crap kicked out of him in prison in December; Two Madoff programmers indicted; Schapiro: SEC fell down on the job over Lehman Brothers; Is Pelosi’s Healthcare vote end run even constitutional?; Alvarez & Marsal’s $247M Lehman Brothers pay day; Jim Cramer’s TheStreet.com is the focus of an SEC accounting probe

Posted by WSF On March - 18 - 2010
  • Madoff Beaten in Prison
  • Madoff computer programmers nailed
  • SEC on Lehman Oversight: Not Good Enough
  • Pelosi Tactic for Health-Care Vote Would Raise Legal Questions
  • Alvarez & Marsal Gets $247 Million for Advising Bankrupt Lehman
  • SEC probes TheStreet.com’s finances Read the rest of this entry »

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Bernie Madoff, SEC

GMAC looking to deTARP? Goldman, Citi said to have been hired; Obama caves and will appear on Fox News to appeal for Obamacare support; AIG takes down another $2.2B; B of A sued over Merrill loss claims; Madoff sons, brother want out of Trustee’s lawsuit; Mortgage demand tepid; Nobel winner Stiglitz says removing Fed stimulus may worsen housing crisis

Posted by WSF On March - 17 - 2010
  • GMAC Said to Hire Citigroup, Goldman Sachs for TARP Repayment
  • Obama to Appear on Fox News in Final Health-Care Push
  • SEC Didn’t Act on Lehman’s ‘Problematic’ Liquidity, Report Says
  • AIG Draws $2.2 Billion More From Treasury to Bolster Units
  • Bank of America Is Sued by ABP Over Merrill Lynch Loss Claims
  • Madoff relatives try to fend off lawsuits
  • US mortgage demand tepid even as loan rates sink
  • Stiglitz Says Fed Stimulus Withdrawal May Hurt U.S. Read the rest of this entry »

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AIG, Bank of America, Barack Obama, Bernie Madoff, Citigroup, Goldman Sachs

More Galleon witnesses were wired; Smarter money: Just as it was with short sellers, now it’s all CDS traders’ fault’ Barclays wants U.S. retail bank; Dubai World debt talks progress; More preying on Madoff victims; Business Coalition getting more vocal in Obamacare opposition; SEC economist said to be leaving after Short Sale rules conflict; Apollo said to be buying Citigroup real estate unit; Google launches web apps store

Posted by WSF On March - 10 - 2010
  • More Wore Wires in Bid to Investigate Inside Trades in Galleon Case
  • Swaps Come Under Fire
  • Barclays on the Hunt for a U.S. Retail Bank
  • Dubai Made Progress in Debt Talks, U.K. Minister Says
  • Internet hustlers go after Madoff victims
  • Obama’s Health-Care Push Gets Challenge From Business Coalition
  • SEC Economist Leaving Amid Short-Sale Rules Conflict Read the rest of this entry »

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WSF

Morgan Stanley’s Roach sees China bubble talk as “overblown”; Greece PM to press Obama to curb those nasty speculators (as if THEY’RE the problem); Nomura’s golden handcuffs on ex-Lehman bankers will soon expire; Madoff’s victims who don’t like loss calculations can appeal to 2nd Circuit; Employers still nervous about hiring; Amazon DKs Colorado affiliates over tax issue

Posted by WSF On March - 9 - 2010
  • Morgan Stanley’s Roach Sees ‘False Alarm’ on China
  • Greece to Press U.S. to Crack Down on ‘Speculators’
  • Lehman Bankers’ Lock-Ins to Expire at Nomura
  • Madoff victims may appeal directly to 2nd Circuit
  • Employers still skittish on hiring
  • Amazon cuts off Colo. affiliates because of tax Read the rest of this entry »

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Barack Obama, Bernie Madoff

Fed looking at Goldman’s Greece deals; Spain doesn’t want to be in Greece’s company; GMAC bankruptcy could have cost $50B per Treasury adviser; At least $2M pay deal for Harold Ford at Merrill, will it hurt his possible Gillibrand challenge?; Another Madoff big goes down; Steve Jobs rejects Apple dividend; GM looking at 2 Hummer offers

Posted by WSF On February - 26 - 2010
  • Fed Examines Swaps Deals by Goldman and Others
  • Goldman probed over crisis in Greece
  • Q&A: Goldman in line of fire
  • Spain battles to shore up plan’s credibility
  • GMAC Bankruptcy Would Have Cost Treasury $50 Billion
  • Merrill Lynch Guaranteed Ford Annual Pay of at Least $2 Million
  • Madoff Aide Bonventre Becomes Sixth Charged in Fraud Read the rest of this entry »

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Autos, Ben Bernanke, Bernie Madoff, Fed, GM, Goldman Sachs

John Mack thinks investment bankers get paid too much; Name of shame: Mark Madoff’s wife and kids are changing their last names to “Morgan”; Appaloosa getting active in Stuyvesant Town

Posted by WSF On February - 25 - 2010
  • Morgan Stanley’s Mack Says Investment Banker Pay Still Too High
  • Madoff Daughter-in-Law Seeks to Change Name After Death Threats
  • Appaloosa Seeks to Join Lawsuit Over Stuyvesant Town Read the rest of this entry »

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Bernie Madoff, Bonuses, Compensation, John Mack, Morgan Stanley, Real Estate

China ups reserve ratio; Ex-Goldman programmer indicted; Raj Rajaratnam wins one; Bank of America judge has more questions over their proposed SEC settlement; Prosecutors going after Madoff brother, sons over tax fraud; Madoff aide gets bail

Posted by WSF On February - 12 - 2010
  • China Hikes Reserve Ratio Amid Brisk Loan Growth
  • Programmer Indicted in Theft of Goldman Software
  • Rajaratnam Wins Ruling Postponing Wiretap Turnover
  • Bank of America Judge Poses 8 Questions on SEC Accord
  • Prosecutors Set Sights on Madoff Kin
  • Madoff Aide DiPascali Granted Bail Pending Sentencing Read the rest of this entry »

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Bank of America, Bernie Madoff, Goldman Sachs, Hedge funds, Insider Trading, SEC

Lehman examiner files sealed report on banks’ role in the firm’s downfall – he wants it public; DE Shaw is looking to pick off rival hedge funds’ distressed portfolios; A look at the SEC and the team that’s tasked to prevent another Madoff; Ex-Morgan Stanley banker Zaoui may put out his own shingle

Posted by WSF On February - 9 - 2010
  • Lehman Brothers Examiner Files Sealed Report on Role of Banks
  • DE Shaw mobilises team to buy distressed assets of fund rivals
  • S.E.C. Enforcers Focus on Avoiding Madoff Repeat
  • Ex-Morgan Stanley Banker Zaoui Said to Weigh Own Firm Read the rest of this entry »

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Banks, Bernie Madoff, Hedge funds, SEC

Derivatives probe: SEC asks John Paulson for info on his winning subprime bets; B of A going on broker hiring spree, it’s bonus pool is over $4B; Dodd knocks Obama’s Wall Street regulation plan;’ Volcker Rule’ meeting resistance; Wire wearing Slaine charged in Galleon insider trading case; AIG to pay reduced bonuses; Madoff victims’ claims decision on the way

Posted by WSF On February - 3 - 2010
  • SEC asks Paulson fund for information
  • BofA push for 2,000 more retail brokers
  • BofA’s Banker-Pay Pool: $4 Billion
  • Dodd Calls Obama Plan Too Grand
  • Senators cool to ‘Volcker rule’
  • Investor charged in Galleon insider trading case
  • Mole Who Wore Wire In Galleon Case Is Identified
  • Despite Critics, AIG Sets Bonuses Read the rest of this entry »

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AIG, Bank of America, Bernie Madoff, Hedge funds, Insider Trading

The spotlight is on Paul Volcker; Will banks find ways around the “Volcker Rule”?; CDS on Euro banks rising; UK’s Madoff Securities won’t face criminal charges; Madoff lieutenant giving up his home; Free checking at Citi through 2010; NY Senator Chuck Schumer’s poll numbers sinking

Posted by WSF On February - 2 - 2010
  • Bankers in Davos Seek a United Message on Volcker Rule
  • Banks Gear Up for a Battle
  • Volcker Looms Larger as Support for Bernanke Strengthens Ties
  • Volcker sees markets more fragile without reforms
  • Bank Debt Swaps Exceed Corporate Insurance by Most Since Lehman
  • Madoff Securities Won’t Face Charges in London Criminal Probe
  • Madoff Aide DiPascali Agrees To Forfeit Home, Personal Property
  • Citibank to Keep Free Checking Accounts Through 2010 Read the rest of this entry »

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Barclays, Bernie Madoff, CDS

Friedman says Goldman had no advantage while he was at NY Fed; Steve Schwarzman: Banker bashing could hurt recovery; From Davos: Banks said to have mixed feelings over Obama plans; Peter Madoff getting the criminal probe treatment; Madoff creditors getting $220M more in settlement; Felix Rohatyn going back to Lazard

Posted by WSF On January - 28 - 2010
  • Goldman’s Friedman Says He Didn’t Favor Bank at Fed
  • Blackstone CEO Says Banker Bashing Risks Recovery
  • Obama Divides Davos With Proposal to Curb Size of Banks
  • Madoff brother subject of criminal probe
  • Madoff Trustee Reports $220 Million Accord With Levy Family
  • Citigroup Said to Have Short List of Bidders for Property Unit
  • Rohatyn Rejoining Lazard As Special Adviser To CEO Read the rest of this entry »

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Banks, Barack Obama, Bernie Madoff, Citigroup, Fed, Goldman Sachs

Goldman Sachs said to have pulled the plug on its Global Equity Opportunities Fund; Barclays chairman tells bankers to stop whining and STFU; Mayor Bloomberg critical of Obama’s bank plan and congress; Bernie Madoff’s co-op has a buyer

Posted by WSF On January - 22 - 2010
  • Goldman winds down flagship hedge fund
  • Barclays chairman Marcus Agius tells bankers not to complain
  • ‘Populist’ prez bonks the banks
  • A bid for Bernie’s luxe apt. Read the rest of this entry »

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Barclays, Bernie Madoff, Goldman Sachs, Hedge funds

Kumar may sing for Feds against Raj Rajaratnam; AIG’s departing general counsel getting fat severance (we can hear the protest screams already); Madoff is back in prison after his high blood pressure treatment; Taxpayers now own a majority stake in GMAC; Fannie Mae / Freddie Mac cap lifts pissing off both sides of the aisle; More howls over UK bonus tax; Ex JP Morgan banker / embezzler, living in Buenos Aires and sponging off family, won’t defend himself vs JPM lawsuit

Posted by WSF On December - 31 - 2009
  • Ratting against Raj
  • AIG Said to Give Departing Lawyer $3.8 Million in Severance Pay
  • Madoff Returned From Hospital to Medium Security Cell
  • U.S. takes majority stake in GMAC, giving lender $3.8 billion more in aid
  • Freddie and Fannie cap lift draws anger
  • Bonus Tax May Drive Financial Firms Out of the U.K., BBA Says
  • Ex-Banker Arbizu Says He Won’t Respond to JPMorgan’s Lawsuit Read the rest of this entry »

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Bernie Madoff, Hedge funds, Insider Trading, JPM Chase, Politics

Henry Kravis has Warren Buffett envy; A year later Madoff “is the godfather, the don” behind bars; Goldman cash bonuses will make bottom line look nicer; UK hedge funds not part of supertax; Lawyers scramble to find supertax loopholes; Moody’s says U.S., UK not threatened with downgrades (yet); Ex-UBS banker is a fugitive; Merrill squawk box broker gets probation

Posted by WSF On December - 11 - 2009

  • Bernie Madoff, the $19B Con, Makes New Friends Behind Bars
  • Buyout Pioneer Kravis Aims to Remake KKR Like Buffett
  • Goldman Sachs Bars Cash Bonus for Top Officers
  • Goldman Sachs Stock Bonus Plan to Defer Compensation Expense
  • UK: Revenue to clarify bonus rules
  • UK: Lawyers search for loopholes in supertax
  • Moody’s Analyst: No Threat To US, UK Triple-A Ratings Now
  • Ex-UBS Banker, Swiss Lawyer Declared U.S. Fugitives Read the rest of this entry »

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Bonuses, Compensation, Goldman Sachs, Hedge funds, Legal

Dubai tensions seem to be easing; AIG closes on 2 debt for equity swaps with NY Fed; Investor who put money with Madoff 6 days before collapse slapped down; GE/Vivendi agree on NBC stake value; A 180: Jim Cramer retreats on stock transaction tax; Did SEC staffers being probe to see if they “committed acts of negligence”; CBOE demutualization close?

Posted by WSF On December - 1 - 2009
  • U.A.E. Leaders Try to Ease Concerns Over Dubai
  • Dubai World in Talks on $26 Billion of Debt, Rest Is ‘Stable’
  • AIG closes debt for equity deal with NY Fed
  • Madoff Investor Rosenman Loses Bid to Recover Assets
  • GE, Vivendi Agree on $5.8 Billion Value for NBC Stake
  • Cramer reverses his stance on stock-trade levy
  • SEC Watchdog Eyes Insider Trading Probe
  • Carlyle Group sued over collapsed fund
  • CBOE to demutualise ‘within days’ Read the rest of this entry »

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AIG, Bernie Madoff, Carlyle, Jim Cramer, SEC

Dubai debt problems roil world markets; Mobius says it may trigger that correction; UBS says Dubai’s debt could be greater than $80B; Dubai creditors may just have to suck it up; UBS whistle blower looks for a billion dollar payoff for ratting; Focus on Feinberg takes heat off of Obama administration?; UBS/E&Y say Madoff claims against them “vague”;

Posted by WSF On November - 27 - 2009
  • Dubai Shows Limits of Government Rescues, Roubini’s Das Says
  • Mobius Says Dubai May Trigger Markets ‘Correction’
  • Dubai Debt May Be Higher Than $80 Billion, UBS Analysts Say
  • Dubai creditors have little option but to accept the hand they’ve been dealt
  • Abu Dhabi Commercial Said Owed $1.9 Billion by Dubai
  • Ex-UBS Banker Seeks Billions for Blowing Whistle
  • Feinberg Stumping Helps Obama, Geithner Skirt Public’s Pay Ire
  • UBS, Ernst & Young Call Claims in Madoff Case ‘Vague’ Read the rest of this entry »

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Bernie Madoff, Sovereign wealth funds, UBS

All in the family: Raj wasn’t the first Rajaratnam to be under scrutiny; Raj says he’s innocent, wiretaps illegal; Benmosche staying at AIG, signs noncompete; Lehman creditors seeking “judicial assistance” to get info; UBS, Ernst sued over Madoff; A Madoff victim’s quest for trustee probe denied; Hedge funds rebound

Posted by WSF On November - 25 - 2009

  • Rajaratnam’s Brother Drew Scrutiny
  • Galleon Chief Attacks Government’s Case Against Him
  • Galleon Sells Commercial Bank, Sri Lanka Shares, Regulator Says
  • Benmosche Reaffirms His Commitment to Leading AIG
  • AIG’s Benmosche Signs Noncompete Deal
  • Lehman Creditors Want Barclays Data From U.K.’s FSA
  • Madoff Victim’s Proposed Probe of Liquidator Denied
  • UBS, Ernst & Young Face Test Cases Over Madoff Funds
  • Hedge funds set for rebound to pre-crisis level Read the rest of this entry »

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AIG, Bernie Madoff, Credit Crunch, Hedge funds, Legal, Revolving Door

Obama’s AIG headache; Pinpointing when Madoff’s scam started key to loss calculations; Madoff trustee’s big fee bill; Hedge funds, others trapped in Lehman closer to getting $$$; Fed said to be looking for deTARPing plans; Apollo still looking for NYSE listing; Nomura fined over mismarking; If Murdoch papers, others bolt to Bing, will Google take a hit?; GM return plan “a scam”?

Posted by WSF On November - 24 - 2009
  • AIG’s Rescue Bedevils U.S.
  • Start Date Is Critical in Ponzi Plan
  • Madoff liquidator seeks fees of $22.1m
  • Fed Said to Ask Stress-Tested Banks to Submit Plans on TARP
  • Billions in Lehman accounts unfrozen
  • Black’s Apollo Revives Plan for New York Stock Exchange Listing
  • U.K. Bankers Chafe Under the Microscope
  • Nomura Fined $2.9 Million for Mis-marking Derivatives
  • Murdoch courts trouble if he blocks Google on news Read the rest of this entry »

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AIG, Bernie Madoff, Carl Icahn, Casinos, Fed, Fees, Legal, Politics

Apologies for their credit crisis role and millions to assist small businesses from Goldman; Report says that if AIG collapsed, yes, Goldman would have been screwed; B of A’s Moynihan skewered in congressional testimony; Some Citigroup execs get big stock grant; Bernie Madoff’s boats sail away for $2M; Gold hits another record; Foiled Trump settles for AC casino stock consolation prize

Posted by WSF On November - 18 - 2009

  • Report Rebuts Goldman’s Claim on AIG
  • Goldman, Buffett Establish $500 Million Small-Business Program
  • It’s BofA-foonery!
  • Citi Pays Forese, Gerspach, Volk $11.7 Million Shares
  • Boats seized in Madoff scandal sell for $2 million
  • Gold hits record near $1,150/oz as dollar slips
  • Geithner, Bernanke, Schapiro Met Panel Probing Financial Crisis
  • Paulson Hedge Fund Sees BofA Almost Doubling by End of 2011
  • Trump Abandons Casino-Control Bid Read the rest of this entry »

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    Bank of America, Bernie Madoff, Citigroup, Credit Crunch, Goldman Sachs, Hedge funds, Politics

    Lehman is suing Barclays over windfall profit; FDIC getting buried under foreclosed real estate; Geithner getting heat over AIG payments; TARP can’t save all banks; You may have to repay some of that stimulus tax credit you may have received; Buffett’s latest 13F disclosures; Paul Allen has Lymphoma; Wachovia coluld lose Madoff claim; Ackman buys more McDonalds, GMAC CEO ousted

    Posted by WSF On November - 17 - 2009
    • Lehman Sues Barclays Capital
    • America’s Newest Land Baron: FDIC
    • Geithner under fire over AIG payments
    • Audit Is Critical of N.Y. Fed in AIG Bailout
    • New York Fed under fire over crisis bank payments
    • TARP Can’t Save Some Banks
    • Millions may have to repay part of stimulus tax credit
    • Buffett’s Berkshire Discloses Exxon, Nestle Stakes
    • Microsoft Co-Founder Treated for Lymphoma Read the rest of this entry »

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    AIG, Barclays, Wachovia, Warren Buffett

    Bernie & Ruth’s personal loot fetches $900K; Did B of A strong arm Uncle Sam into making Merrill loans?; Lots of hedge funds still below high water mark and won’t get paid; Fixed income the key to UBS turnaround?; Deutsche Bank CEO on global banking regulation; Gold hits another record; GM paying some of it’s debt back (but it’s only a drop in the bucket)

    Posted by WSF On November - 16 - 2009

    • Madoff’s ‘Prisoner’ Watch, Mets Jacket Boost $900,000 N.Y. Sale
    • Madoff’s ill-gotten gains sold off
    • Bank of temerity
    • Hedge Funds Struggle
    • UBS’s Debt Trading, Cause of Near Collapse, Is Key for Revival
    • Deutsche Bank CEO Calls For Careful Global Bank Regulation
    • Gold hits record on weak dollar, technical momentum
    • JPMorgan Said to Be in Talks to Buy Remainder of Cazenove Stake
    • Sands to Put Macau Focus On Foreigner
    • GM Said to Repay Government $6.7 Billion Sooner Than Required Read the rest of this entry »

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    Bank of America, Bernie Madoff, Hedge funds, Legal

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