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SUNDAY, NOVEMBER 8, 2009
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NEWS ABOUT: hedge funds

hedge funds stories: 33 news summaries

1 - 20 of 33 Stories | 1 2 Next >>

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Obama to Launch Radical Bank Reform

Changes will be the most ambitious since the Great Depression

Jun 14, 09 9:51 AM CDT
(Newser) - President Obama will unveil next week sweeping new changes to the nation’s governance of troubled financial institutions, the AP reports. Unlike Washington’s temporary ownership stake in automakers and major financial companies, the new regulatory protocol will be permanent and will present the most ambitious revision since the 1930s.... More »

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Barack Obama • private equity • Ben Bernanke • Federal Reserve • financial institutions • Great Depression • bank regulation • hedge funds • financial crisis

 NY Lawyer 
 Pleads Guilty 
 to $400M Fraud 

Dreier bilked clients, spent cash on yacht and beach houses

May 12, 09 8:34 AM CDT
(Newser) - New York lawyer Marc Dreier pleaded guilty yesterday to selling hundreds of millions in bogus promissory notes to hedge funds and other clients, reports the Times. Dreier, 59, used the $400 million to fund a Manhattan apartment, beachfront houses, and an $18 million yacht. “He has disgraced the honorable... More »

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fraud • hedge fund • conspiracy • money laundering • wire fraud • securities fraud • hedge funds • Marc Dreier • Jay-ZTV

Hedge Fund Managers Profit in Bear Market

Top 25 took home
total of $11.6 billion
in pay last year

Mar 25, 09 7:06 AM CDT
(Newser) - Hedge funds lost an average of 18% last year, but as markets fell to earth, the top 25 hedge fund managers each earned more than $75 million in pay, reports the New York Times. The most successful, James Simons of Renaissance Technologies, pulled in $2.5 billion, while George Soros... More »

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Wall Street • executive compensation • bonuses • regulation • hedge funds • financial crisis • Timothy Geithner

 Feds Look for 
 Privately Funded 
 $1T Bailout 

Geithner talks up private capital ahead of today's announcement

Mar 23, 09 5:37 AM CDT
(Newser) - The Treasury today unveils its three-part public-private plan to purchase $1 trillion in troubled assets, offering lucrative subsidies to private investors to encourage them to participate. The Obama administration spent the weekend wooing hesitant private investors—hedge funds, private equity firms, and sovereign wealth funds—who fear future regulation or... More »

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Barack Obama • private equity • sovereign wealth funds • hedge funds • Obama administration • financial crisis • Timothy Geithner • TALF

Hedges, Private Equity Funds to Invest in Bailout

TALF program could see very rich outfits get even richer

Mar 6, 09 7:11 AM CST
(Newser) - With its highly touted TALF program to spur consumer lending, the government is undertaking a $1 trillion effort that hinges on the participation of some unpopular outfits: hedge funds and private equity firms. As the Washington Post reports, the Fed and Treasury's "public-private partnership" relies on investment from the... More »

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private equity • Federal Reserve • Treasury Department • Blackstone • consumer loan markets • bailout • hedge funds • TALF

Brokerages Get
Tough on B-List
Hedge Funds

With financing cut,
look for many to merge or collapse

Feb 17, 09 8:30 AM CST
(Newser) - Brokerage firms are cutting their financing and support to hundreds of hedge funds, reports the Wall Street Journal, delivering a further blow to what was the highest-flying sector of American finance. As they attempt to shore up their own positions, the banks are dividing their hedge fund clients into two... More »

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funding • brokerage • hedge funds • banks • financial crisis

Former Fugitive Marc Rich Lost With Madoff

Disgraced financier's latest victim is a disgraced financier

Jan 9, 09 11:07 AM CST
(Newser) - Many of Bernard Madoff’s former clients are seeking legal recourse to recover their money, but onetime fugitive Marc Rich likely won’t be among them, Andrew Ross Sorkin writes in the New York Times. Rich, who lost $10 million to $15 million through a third party who invested with... More »

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Bill Clinton • presidential pardon • hedge funds • financial crisis • Marc Rich • Andrew Ross Sorkin • Bernard Madoff

Fund Warned Clients Madoff 'Could Abscond With Assets'

Kingate Global's prospectus highlighted risks associated with Madoff Securities

Dec 23, 08 8:47 AM CST
(Newser) - One of the firms hardest hit by the $50 billion Bernard Madoff fraud warned investors in its prospectus that investing with Madoff was risky, saying explicitly that the brokerage “could abscond with those assets,” the Financial Times reports. Kingate Global told investors that they would not check the... More »

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private equity • investors • defrauding investors • hedge funds • Bernard Madoff • Fairfield Greenwich Group

Conn. Firm Collected $500M From Madoff's Marks

Fairfield Greenwich didn't deliver promised oversight to clients

Dec 22, 08 12:32 PM CST
(Newser) - With its clients having lost $7.3 billion in Bernard Madoff’s Ponzi scheme, a Connecticut hedge-fund advising firm wants the public’s sympathy—but in fact, the Fairfield Greenwich Group took almost $500 million in fees alone from the money Madoff shepherded. And, the New York Times reports, it’... More »

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fraud • Connecticut • hedge fund • investment • Ponzi scheme • hedge funds • Bernard Madoff • Fairfield Greenwich Group

Middlemen
Lose Billions in Madoff Fraud

Hedge funds that sold access to Ponzi
scheme face collapse

Dec 17, 08 8:41 AM CST
(Newser) - Last week Walter Noel was a successful hedge fund manager, with houses from Connecticut to the Caribbean and an adulatory photo shoot in Vanity Fair. But overnight, when Bernie Madoff's giant Ponzi scheme was exposed, his $14.1 billion firm, Fairfield Greenwich Group, lost more than half its assets. While... More »

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fraud • hedge fund • Ponzi scheme • defrauding investors • hedge funds • Bernard Madoff

Madoff Victims May Be Able
to Sue Middlemen


Feeder funds could be headed to court

Dec 16, 08 11:45 AM CST
(Newser) - Bernie Madoff victims searching for avenues to recover their money will find their legal options depend on whether they invested directly with Madoff, Time reports, or though middlemen. Those who worked directly with Madoff will have up to $500,000 covered by the federal Securities Investor Protection Corporation. But... More »

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lawsuit • Ponzi scheme • defrauding investors • hedge funds • Bernard Madoff

Vast Madoff Options Scheme Didn't Add Up

SEC unfurls $50B scam that should have been obvious

Dec 16, 08 8:59 AM CST
(Newser) - For every detail that emerges from the 17th-floor office of Bernard Madoff, two more inconsistencies arise. A federal judge ordered the liquidation of Madoff’s eponymous investment firm and a federal agency has begun to try to compensate clients. Meanwhile, scrutiny of clients'  financial statements shows Madoff's stated strategy of... More »

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private equity • trading • stock options • defrauding investors • hedge funds • Bernard Madoff

Madoff Fraud Will Hit Hedge Funds Hard

$50B Ponzi scheme will stagger funds, send investors to exits

Dec 12, 08 10:20 AM CST
(Newser) - Even as hedge funds face their worst yearly returns ever, they may take another collective $10 billion hit on money invested in Bernard Madoff’s namesake firm, which was revealed to be a giant Ponzi scheme yesterday, Bloomberg reports. Madoff was arrested and charged with fraud after admitting that his... More »

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private equity • Ponzi scheme • defrauding investors • hedge funds • financial meltdown • Bernard Madoff

Web Unravels Around Lawyer Held in Fraud

Allegedly duped victims of millions in tale of deception, bravado

Dec 9, 08 12:11 PM CST
(Newser) - A bizarre case is unfolding around Marc Dreier, the Yale- and Harvard-educated Manhattan attorney arrested Sunday for his alleged involvement in a fraudulent scheme to sell hundreds of millions in forged, phony debt. Investigators contend his scams were nothing more than brazen confidence games in which he leveraged his position,... More »

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fraud • Harvard Law School • white collar crime • forgery • hedge funds

Hedge Funds Bleed Assets
as Investors
Flee Risk

By March, 40% of assets withdrawn

Nov 22, 08 10:27 AM CST
(Newser) - Hedge Funds have never had a year this bad, and it's getting worse. Investors are pulling so much money from the once-prized investment vehicles, the Wall Street Journal reports, that redemptions are expected to claim 25% to 40% of hedge fund assets by March 2009. Add investment losses, and... More »

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investors • hedge funds • financial crisis

MARKETS

 Dow Sinks 411 on Bad News 

Nasdaq below 1,500 for first time in 5 years

Nov 12, 08 3:30 PM CST
(Newser) - Stocks plunged again today as another wave of poor earning reports soured investor sentiment, the Wall Street Journal reports. Henry Paulson's announcement of yet another new direction for the federal bailout failed to inspire confidence as the Dow closed down 411.30 points at 8,283. The Nasdaq lost 81.... More »

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Starbucks • Dow Jones • Macy's • Nasdaq • Best Buy • S&P 500 • hedge funds

Hedge Fund Selloffs Behind Swooning Dow

Investors cashing out
in record numbers to meet obligations

Nov 7, 08 9:25 AM CST
(Newser) - Hedge funds are increasingly to blame for the swooning Dow, the Wall Street Journal reports, as demands from investors to withdraw funds have sparked a securities selling frenzy in recent days. The rush to withdraw comes as investors—endowments and  pension funds as well as wealthy individuals—see other investments... More »

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Carl Icahn • financial markets • securities • Citadel Investment Group • hedge funds • financial crisis

VW Gamble Nets Porsche $20B, Wallops Hedge Funds

Short bets could push some European traders to bankruptcy after stock soars

Oct 29, 08 10:09 AM CDT
(Newser) - Hedge funds that bet on a dive in Volkswagen shares are nursing some pretty stiff hangovers—to the tune of a possible $20 billion in losses—after the shares soared when rival Porsche announced over the weekend it had secretly acquired a 74% stake in its fellow German automaker, reports... More »

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mergers and acquisitions • Volkswagen • Porsche • short selling • hedge funds

Tanking Hedge Funds Take Chunk Out
of Market

Investor panic could shrink industry 15%

Oct 25, 08 1:45 PM CDT
(Newser) - Now is not a good time to run a hedge fund. Panicking investors are pulling out of the underperforming funds, and that alone could cost the industry 15% of its assets by year’s end, Bloomberg reports. Hedge funds aren't seen as a primary cause of the global financial crisis,... More »

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investors • markets • hedge funds • financial crisis

GLOSSIES

Times Tough for I-Bankers, in 'Marie Antoinette' Kind of Way

Tough times prompt some soul searching, but titans confident they'll regain Wall St. primacy

Oct 20, 08 3:26 PM CDT
(Newser) - With Wall Street in free fall, many of its elite I-bankers are seeing the status quo turned upside-down, Vanessa Grigoriadis writes in New York. Once at the top of the heap, working for companies that praised them as smartest people out there, some are fighting to survive on the Street,... More »

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Wall Street • Goldman Sachs • Morgan Stanley • Bear Stearns • Merrill Lynch • lifestyle • investment bankers • hedge funds • financial crisis

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