Hedge fund managers are fuming at new political rhetoric against them and their huge paydays.» Read More
So the government has killed Level Global Investors LP.
This morning David Ganek sent a letter to investors in the $4 billion hedge fund announcing that it expects to sell all of its holdings by the end of March.
Ganek founded Level Global in 2003 with Anthony Chiasson. Both are alumni of Steven Cohen's SAC Capital Advisors.
After Hosni Mubarak's resignation, ZeroHedge is reporting that Field Marshal Mohamed Hussein Tantawi is in control of Egypt—though, possibly, on an interim basis.
Tantawi has been a commissioned officer in the Egyptian military since 1956, although he did not ascend to his current rank of Field Marshal until 1991.
What exactly is a field marshal?
When it comes to her call on municipal bonds, it seems that Meredith Whitney is likely to be right in that Meredith Whitney kind of way.
That’s to say that she’s correct figuratively but probably wrong literally.
Ever since the doom-saying banking analyst predicted a wave of defaults in municipal bonds she has been subject to severe backlash. Her critics have called her ill informed and a financial fish out of water, delving into an area in which she has no expertise nor serious data to back up her opinions.
Sharm el-Sheikh, the Egyptian city where Hosni Mubarak is holed up, is an interesting place for an autocrat to attempt to ride out a revolution.
Sharm—as the locals are known to charmingly call it—claims tourism for its major industry: It's basically an isolated resort town on the Red Sea coast.
So much for the death of the IPO.
The 95.5 million shares of the pipeline company Kinder Morgan hit the streets at $30 this morning and immediately popped 6 percent.
Next week will be budget or bust on Capitol Hill as the House Leadership gets ready to vote on budget cuts. Some within the GOP are saying the $43 million in proposed cuts proposed by Budget Committee Chairman Paul Ryan (R-WI) are not enough. On the other side of the aisle, they are saying the cuts go too far.
I decided to ask Tim Phillips, President and CEO of Americans for Prosperity, for his thoughts on the GOP game plan. You may have heard about AFP. President Obama called out Americans for Prosperity nearly a dozen times in his stump speeches last election year. AFP has quickly emerged as one of the most influential conservative groups in the country with more than 1.6 million activists in 31 chapters across 50 states.
Sometimes it just feels like God is conspiring with nature to arrange the events of the world in such a way to make Bess Levin the perfect chronicler of our times.
In the depths of the financial crisis, Citigroupand Morgan Stanley were teetering on the precipice of total disaster, according to official documents. The new information, recently released by the Financial Crisis Inquiry Commission, paints a dark picture of both banks during the fall of 2008, as reported by Susanne Craig and Ben Protess in The New York Times DealBook.
China's journey to a global renminbi. [NY Times]
ZeroHedge continues its analysis of SAC trading data —in search of evidence insider trading. [ZeroHedge]
Why Netflix isn't a short sale opportunity. [DealBreaker]
Galleon Group founder has trial delayed. [DealBook]
The battle between New York Times business writer Joe Nocera and Peter Wallison, one of the Republican commissioners on the Financial Crisis Inquiry Commission, rages on.
Wall Street pay and shareholder performance don't always line up, with a few caveats.
"Are they really taming volatility with their bond-buying, or just jamming it into a coiled spring?"
GE picked Deutsche Bank to sell Italian lender GE Capital Interbanca as part of a strategic review to refocus its industrial base, sources said.