Dec 12- Bank of America Corp has agreed to pay $131.8 million to settle U.S. Securities and Exchange Commission charges that its Merrill Lynch unit misled investors about mortgage securities it structured and sold.» Read More
It's been a whirlwind here at the Allen & co. Conference--watching and interviewing all the biggest names in the media world. Everyone's paying close attention to Rupert Murdoch. He rushed into the Sun Valley Inn Wednesday morning just in time for breakfast. .
Congress is holding three different hearings Wednesday to weigh increasing regulations and taxes on private equity and hedge funds. So why is James Chanos, founder and president of Kynikos Associates, so calm? He joined "Morning Call" to explain why he doesn't fear "heavy-handed" legislative actions.
U.S. Sen. Charles Grassley, R-Iowa and ranking Republican member on the Senate Finance Committee, told CNBC’s “Power Lunch” that he hasn’t yet decided if raising taxes on hedge funds is a good idea.
A fine old storm we cooked up on the show this morning, and as is often the case the viewers were asking some of the toughest questions. Why had it taken the ratings agencies so long to decide some subprime debt needed reviewing? What else could be out there and are the agencies playing catch up?
The rapid growth of hedge funds could pose risks to financial stability if market participants fail to strengthen risk management practices, Federal Reserve Board Governor Kevin Warsh said on Wednesday. Separately, technology industry representatives warned lawmakers on Wednesday that efforts to increase taxes on private equity funds could create a harmful ripple throughout the economy, drying up the capital that spurs innovation.
Irwin Latner, hedge-fund lawyer and partner at Herrick Feinstein, told CNBC’s “Morning Call” that the risk of over-regulating hedge funds is now greater than the need for more controls. ... But Christian Weller, senior economist at the Center for American Progress, said Congress is simply gathering information to assess the risk posed by hedge funds.
Rep. Eric Cantor (R-Va.) told CNBC’s “Squawk Box” that proposals to boost the tax rate on carried interest are “nothing but a tax on innovation and job creation in America.” “This just goes back to Economics 101,” the GOP congressman said Wednesday. “If you raise the price of something -- the price of putting your capital at risk and provide a disincentive to risk-based investment in this country -- you’re going to have less of it.”
Private equity and hedge funds will be at the heart of three separate congressional hearings to be held Wednesday. Congress will consider raising taxes on investment income and exploring investment risk to individuals and the economy.
Bear Stearns plans to build up risk controls at its asset management business after two of its hedge funds hit rock bottom by making bad bets on risky mortgages, the Wall Street Journal reported on Monday.
Bear Stearns could be sold if losses from two hedge funds are steep, and the company's stock price continues to fall, CNBC's Charlie Gasparino reported.
Hedge fund Och-Ziff Capital Management Group filed to go public in a deal that could raise as much as $2 billion, CNBC’s David Faber reported.
Bear Stearns may take until July 16 to tally losses at two struggling hedge funds that invested in risky mortgage-related securities, the Wall Street Journal Online reported on Monday.
A Democratic presidential debate, before a predominantly African American audience at Howard University last night, took a small step toward smoking out the leading White House contenders on Wall Street's hottest political issue: raising taxes on private equity and hedge fund executives. Former Sen. John Edwards of North Carolina, who has ducked an issue that would hit his former colleagues at Fortress Investment Group, couldn't avoid showing his populist colors.
Dillard's shares soared almost 12% on Thursday after an activist hedge fund unhappy with the department store operator's performance demanded talks with management, saying the stock is undervalued.
The state of Massachusetts accused UBS of providing hedge fund traders with favors intended to win brokerage business for the investment bank, according to a report.
Bear Stearns said Wednesday its private equity arm has no exposure to the two hedge funds in trouble due to losses in subprime mortgages.
Investors following the near-collapse of two hedge funds managed by Bear Stearns Cos. might be a little bit like a homeowner watching the house down the block catch fire.
All five commissioners of the U.S. Securities and Exchange Commission are to appear Tuesday at a Congressional hearing that is expected to explore hedge fund activities, access to corporate proxy statements and so-called soft-dollar arrangements.
Asset management firm BlackRock said it agreed to acquire the fund of funds business of Quellos Group for up to $1.7 billion, in a move to expand its alternative investment operations.
Benchmark ABX subprime indexes traded at fresh new lows today amid concerns that a new wave of defaults in subprime mortgages will spur further troubles for holders of collateralized debt obligations (CDOs) and other mortgage securities.
All eyes are on the Fed's big announcement Tuesday. Fortunately, the taper and QE don't really matter all that much.
As we tick down to the Fed's policy statement, here's a tour through current policy with an eye to what might change.
Markets have been anticipating the Fed's direction ever since it began dropping hints about a decrease in asset purchases.