{"id":19012,"date":"2010-11-23T08:17:42","date_gmt":"2010-11-23T12:17:42","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=19012"},"modified":"2010-11-23T08:29:06","modified_gmt":"2010-11-23T12:29:06","slug":"hedge-fund-raid-causes-over-15-billion-in-losses-puts-wall-street-back-in-the-spotlight","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/11\/2010\/hedge-fund-raid-causes-over-15-billion-in-losses-puts-wall-street-back-in-the-spotlight.html","title":{"rendered":"Hedge Fund Raids Causes Over $15 Billion In Losses, Puts Wall Street Back In The Spotlight"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/11\/ji-lee-wall-street-bull-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-medium wp-image-19022\" title=\"ji lee wall street bull (1)\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2010\/11\/ji-lee-wall-street-bull-1-300x240.jpg\" alt=\"\" width=\"300\" height=\"240\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/11\/ji-lee-wall-street-bull-1-300x240.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2010\/11\/ji-lee-wall-street-bull-1.jpg 449w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.net) &#8211; The FBI raided the offices of three hedge funds, Connecticut-based Diamondback Capital Management, Level Global Investors and Boston-based Loch Capital Management.\u00a0The FBI said the raids took place under executed court-ordered search warrants, according to NPR News.<\/p>\n<p>The Wall Street Journal, the first to report on the coordinated raids in New York, Connecticut and Massachusetts, said that the Level Global and DiamondBack hedge funds are both run by former managers of Steve Cohen&#8217;s giant SAC Capital Advisors hedge fund.<\/p>\n<p>One banker commenting on the raid told Here Is The City: \u00a0&#8220;This\u00a0is the worst time possible time for an insider trading scandal to hit\u00a0Wall Street, investment bankers and hedge fund professionals are going to be hitting the limelight again, and all the unpleasant stuff about greed and unethical behaviour\u00a0will resurface. And, as usual,\u00a0<em>all <\/em>those who work on Wall Street will get tarred with the same brush, when in truth it\u00a0may be just a few rotten apples that have stepped over the line.&#8221;<\/p>\n<p>The Washington Post reports that the Securities and Exchange Commission is also conducting a parallel civil probe.<\/p>\n<p>The hedge funds have not been accused of any charges. Here Is The City reports that over $15 billion was\u00a0wiped off the collective value of Bank of America, Citi, Goldman Sachs, JPMorgan and Morgan Stanley on Monday, due to speculation alone.<\/p>\n<p>Alex Akesson<br \/>\nEditor for <a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.Net<\/a> is a premier <a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\">hedge fund database<\/a> and community for qualified and accredited investors only. Membership in <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">HedgeCo.net<\/a> is FREE and EASY. We also offer FREE LISTINGS for <a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.net) &#8211; The FBI raided the offices of three hedge funds, Connecticut-based Diamondback Capital Management, Level Global Investors and Boston-based Loch Capital Management.\u00a0The FBI said the raids took place under executed court-ordered search warrants, according to NPR News. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16005,3],"tags":[],"class_list":["post-19012","post","type-post","status-publish","format-standard","hentry","category-developing-stories","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/19012","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=19012"}],"version-history":[{"count":6,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/19012\/revisions"}],"predecessor-version":[{"id":19025,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/19012\/revisions\/19025"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=19012"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=19012"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=19012"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}