Investors avidly awaiting signs that the Federal Reserve is ready to reduce its monthly stimulus may find that the news already has passed them by.» Read More
I was talking to a friend of mine who used to work for former hedge fund manager, Bernie Madoff (he was a market maker on the legitimate market-making side of the business).
"Are hedge funds dead?" I asked him.
"Of course not," he said. "With the current volatility and 0% interest rates you have to have your money in the game."
In fact, hedge fund total assets at $2 trillion are now higher than their pre-2008 levels.
But here’s my problem, I explained to him.
The flash downpour that whipped through Manhattan Thursday night did not dampen the mood in Chelsea, where hundreds of revelers toasted the 50th anniversary of the Pace Gallery.
Against a backdrop of works by Warhol and Mondrian, legendary artists such as Chuck Close, Jim Dine, and Claes Oldenberg \(all of whom are represented by the gallery\) greeted longtime collectors, including billionaires Eli Broad and Estee Lauder Chairman Emeritus Leonard Lauder. A quick calculus of the room \(both the artwork and the net worth of those in it\) yielded a tally well over $10 billion.
The third time may well be the proverbial charm for Lou Barletta and his quixotic bid to unseat veteran Democratic Rep.Paul Kanjorski.
Kanjorski, the influential senior Financial Services Committee member and frequent “Squawk Box” guest on CNBC, is fighting nothing less than a legacy-challenging battle to keep his seat.
Kanjorski was instrumental in putting together this year’s financial reform legislation, particularly the areas that addressed the too-big-to-fail institutions that triggered the credit crisis. So his seat is a biggie in terms of the Washington governmental structure.
As a 13-term incumbent representing northeastern Pennsylvania, Kanjorski had been breezing through election after election until Barletta started challenging him in 2002.
The Irish have got a lot of things right... beer, scenery, accents. But they just can't seem to get their finances in order.
A Barclays note released Thursday, which proposed the government should consider some form of debt-for-equity swap with banks' debt holders, further rattled the country's troubled banking sector, which in-turn spurred the cost of insuring the country's sovereign debt to a record high. Ireland's 5-year credit default swap hit 425 basis point Friday.
And with rumors flourishing that Ireland may need to reach out to the European Union and the International Monetary Fund to help cover its debts, markets remain highly sensitive. » Read More at CNBC.com
Uncle Sam's ugly, unmarriable children, Fannie and Freddie already have a mountain of misery and challenges and their problems are about to get bigger as signs of the softening real estate market and anticipated foreclosures are expected to climb and continue.
The troubled twins have already reclaimed nearly as many of the homes as they did in 2009 and the year isn't over yet.
Today I went across the aisle to speak with Rep. Paul Kanjorski \(D\) Pennsylvania, Chairman of the Capital Markets Subcommittee to ask him his solutions on what to do with Fannie and Freddie.
It's been years since I found myself staring agape at an IPO.
The IPO for SouFun Holdings opened at $67 this morning, after pricing 2,933,238 shares at $42.50. That was already thought to be the high end of the expected $40.50-$42.50 range. But SouFun blew right through those numbers.
John Carney is a senior editor for CNBC.com, covering Wall Street and finance and running the NetNet blog.
Jeff Cox is finance editor for CNBC.com.
Lawrence Delevingne is the ‘Big Money’ enterprise reporter for CNBC.com and NetNet.
Stephanie Landsman is one of the producers of CNBC's 5pm ET show "Fast Money."
The unofficial odds are rising that the Fed will announce taper plans at its December meeting.
Three Wall Street trade groups sued the Commodities Futures Trading Commission to stop tough overseas trading guidelines they fear.
Paid in the form of assistance programs, the funds are in effect a subsidy to the banking industry, The Washington Post reported.