Hedge fund managers are fuming at new political rhetoric against them and their huge paydays.» Read More
A new study of Bernie Madoff's Ponzi scheme concludes that JPMorgan Chase made over $900 million in pretax profits from the Madoff scam.
The academic paper by Dr. Linus Wilson, a finance professor at University of Louisiana at Lafayette, makes use of newly released data and different methods of calculation than previous studies.
"Greek 'I Don't Pay' Movement Threatens Reforms" [Reuters via CNBC.com]
Food prices hit a record high in February [Bloomberg]
Beyonce donates Gadaffi concert money for Haiti relief [Huffington Post]
A batch of economic data you need to know today: Jobless claims at a 2 1/2 year low [Reuters via CNBC.com], February retail sales [CNBC.com's Christina Cheddar-Berk]
Rajat Gupta vigorously denies the insider trading charges the SEC has lodged against him, calling them “totally baseless.”
The circumstantial evidence against Gupta, however, is very strong. In fact, the pattern of behavior alleged by the SEC—obtaining confidential board information and then immediately calling Raj Rajaratnam, the man who then traded on the stocks—is damning.
Recently my friend Jennifer Wright at TheGloss.com came across another study purporting to show that men prefer to date women who are less intelligent than they are. She asked me about why this might be, assuming it was true at all.
I guess I can kind of see it.
Municipal bond defaults could hit the $100 billion market over the next five years, according to a new estimate from Roubini Global Economics.
This comes just after Moody's chief economist Mark Zandi estimated the chance of significant defaults to be zero.
Although $100 billion of defaults spread over five years would be much higher than the estimates of the muni optimists, his firm's figures would appear to be less cataclysmic than those suggested by Meredith Whitney.
As each day passes, with oil, gold and other commodities scaling either multi-year or historic highs, the denials of inflation become harder to maintain.
Call it the “inflation effect,”—the antithesis of Fed Chairman Ben Bernanke’s “wealth effect” that helped convince Americans rising stock prices equated to greater wealth even while employment and housing lagged far behind.
In the case of inflation, some of the more conventional measures insist the phenomenon of too much money chasing too few goods has not taken hold. Government indicators for personal and producer prices remain tame, while there appears to be little of the wage pressure that also is a typical partner to rising inflation.
Ed Burns will play an unemployed former Bear Stearns employee in a new series produced by the creator of Entourage.