The Goldman Sachs chief executive tells jurors that September 2008 was “a dangerous time” that “made us nervous.”
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DealBook: Blankfein Describes Financial Crisis Board Meetings at Galleon Trial
In the opening statements for Raj Rajaratnam’s trial for insider trading, the lawyers previewed the case’s evidence.
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DealBook: Greed vs. Diligence in Galleon Trial
No one at Level Global has been accused of any wrongdoing, but its reputation has been damaged by the F.B.I. raid and it has closed.
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DealBook: For Level Global, F.B.I. Raid Is a Final Blow
The S.E.C. claims that Rajat Gupta, a former managing director of McKinsey, tipped off Galleon Group’s founder about Warren E. Buffett’s $5 billion investment in Goldman Sachs.
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DealBook: Former Goldman Director Charged With Insider Trading
Dynegy said its top management team, including its chief executive, plan to resign, as the company failed in its second attempt to sell itself.
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DealBook: Dynegy’s Top Management to Resign
In his first interview for publication since his arrest, Bernard L. Madoff insisted that his family knew nothing about his crimes, but some banks and hedge funds “had to know.”
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From Prison, Madoff Says Banks ‘Had to Know’ of Fraud
An investment firm started by owners Fred Wilpon and Saul Katz had to pay back nearly $13 million two years ago when a hedge fund run by the scion of a wealthy New Orleans family collapsed.
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For Mets Owners, a Costly Precursor
“So here is the evidence for an American plutocracy of a narrow and discrete but hardly harmless sort. Wall Street seduced the economics profession not through overt corruption, but by aligning the incentives of economists with its own. It was very easy for academic economists to move from universities to central banks to hedge funds — a tightly knit world in which everyone shared the same views about the self-regulating and beneficial effects of open capital markets. read more
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Evidence of an American Plutocracy: the Larry Summers Story
The hedge fund run by William A. Ackman has offered to finance a $960 million takeover bid by Borders for its larger rival, Barnes & Noble.
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DealBook: Fund Finances Borders in Bid for Rival
Federal authorities are examining whether Philip Falcone used his hedge fund as a piggy bank to pay an income tax bill.
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Harbinger Capital’s Founder Facing Investigations
Don Chu, an executive from expert networking firm Primary Global Research, is accused of passing along information on technology company earnings to a figure in the Galleon insider trading case.
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DealBook: Arrest in Insider Trading Inquiry
Two large mutual funds, Wellington Management and Janus Capital Group, have also received subpoena requests seeking a wide range of information.
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DealBook: SAC Gets Subpoena in Insider Inquiry
Looks like it’s going to be a tough holiday season for some financial big shots: The FBI raided the offices of two hedge funds in Connecticut on Monday as part of its investigation into insider trading. The hedge funds were Diamondback Capital…
The bank is bidding goodbye to its Process Driven Trading unit, which made $4 billion in the 10 years through 2006. More from the scoop by DealBook’s Anita Raghavan: “A separation between Morgan Stanley and Mr. Muller has been in discussions for years, but talks accelerated in the wake of the passage in July of the Dodd-Frank Act, which restricts proprietary trading by Wall Street firms. Morgan Stanley and Mr. Muller had been discussing another option where the unit would have moved to Morgan Stanley Asset Management. But the act makes that far less likely now, said people close to the situation who were not authorized to speak publicly.”
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DealBook: Quants and Morgan Stanley to Part
MEPs have backed new rules to introduce tighter regulation of hedge funds and private equity firms.
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Hedge fund regulations backed by MEPs
DealBook: Blankfein Describes Financial Crisis Board Meetings at Galleon Trial
Wednesday, March 23rd, 2011DealBook: Former Goldman Director Charged With Insider Trading
Tuesday, March 1st, 2011
