Tag Archives: losses
MassMutual unit told to return funds from Madoff
Boston Globe – The trustee in the bankruptcy case of swindler Bernard L. Madoff has told a hedge fund business owned by Massachusetts Mutual Life Insurance Co. to return money that it received from Madoff over the past six years. […]
The Importance Of Paying Citigroup Bankers Bonuses
24/7 Wall St. – Citigroup has gone to the Treasury to beg for bonuses for some of its most important traders, people who make the banks extraordinary amounts of money. The Treasury’s reaction will probably be that it wants to […]
Nearly 20 pct of Asia hedge funds close since ’08
Forbes – Almost 20 percent of Asia’s hedge funds closed shop since the start of 2008 as a wave of investor redemptions and sharp losses amid the financial crisis took a heavy toll on the region’s once high-flying industry, a […]
US bailouts won’t work, says Nobel winner
Moneycontrol.com – Joseph Stiglitz, a professor at the Columbia University and the 2001 Nobel Prize winner, said the US government’s bailout packages designed for financial institutions may not work. “It is a peculiarly-structured programme,” Stiglitz said, “The government puts in […]
Bay State firm is sued in Madoff scandal
Boston Globe – Investors of disgraced financier Bernard Madoff have filed 18 lawsuits against Massachusetts Mutual Life Insurance Co. in an effort to recoup $3.3 billion that its hedge fund group lost in the scandal. But the Springfield insurer is […]
US Town Claws Back £17m Of Madoff Assets
Sky News – A US town has edged closer towards clawing back its losses to Wall Street swindler Bernard Madoff, securing a court order for £17m in assets. The town of Fairfield in Connecticut suffered losses of about £28m from […]
Big hedge funds’ golden era fading
Reuters – The golden age for super-sized hedge funds may be coming to an end as investors think about putting more money with smaller players, said an industry veteran who is setting up his own fund. "I think the established […]
What If Washington Bailed Out of Bailouts?
Business week – The idea certainly seemed all right to throngs of Americans who were outraged by news that American International Group (AIG) paid out millions of dollars in executive bonuses after it was rescued with taxpayer cash. But would […]
Bennelong SGI to Start Hedge Fund to Invest in Global Equities
Bloomberg – Bennelong Funds Management, an Australian fund manager with A$400 million ($271 million), will start a second hedge fund to ride through the financial crisis as it seeks to more than double funds under management. Melbourne-based Bennelong wants to […]
Hedge Fund Corporate Welfare
TPMCafé – Last November, Ken Griffin told investors in his Citadel Hedge Funds that they couldn’t withdraw their money, but he was still going to charge a 2% management fee on their trapped funds. Oren Kramer a rival hedge fund […]
High-flying fundraisers who saw nothing wrong
Guardian Unlimited – Andres Piedrahita, a London-based fundraiser for Bernie Madoff’s fraudulent empire, is among high society figures facing increasing pressure to explain how they missed warning signs around the disgraced hedge fund manager. Piedrahita, who has homes in Belgravia, […]
