feds

Biovail's case for short conspiracy debunked?

Thu, 22 May 2008 06:59:55 -0400

Recall that in early 2006, Biovail filed a $4.6 billion suit that charged 24 hedge funds and research analysts with engaging in a scheme to push the company's stock with lies and planted stories in the media. The debate was widely covered, and ensnared some really big names, such as SAC Capital. But Fortune notes the company just settled federal charges of kickbacks and conspiracy related to the launch of a new drug that touched on the issue raised by hedge funds. In a press statement, the feds seemed to agree with hedge funds that a program that paid doctors to prescribe the drug was a bit over the top. In short, it lent credence to the arguments from the shorts that the company was engaging in nothing short of bribery.

For more:
- here's the Fortune article

ALSO NOTED: Citigroup may sell Japanese consumer finance unit; Morgan Stanley closes infrastructure fund; and much more...

Tue, 13 May 2008 06:59:50 -0400

Company News:
> Morgan Stanley closes infrastructure fund. Article
> More on HSBC earnings. Article
> Citigroup may sell Japanese consumer finance unit. Article
> Soros on Bear Stearns. Video
> Evercore posts a 1Q loss. Article
> Ladenburg Thalmann posts loss. Article
> Bank of America to launch NASCAR commercial. Article
> Pandit flexes muscles. Article

Industry News:
> Analyst: REITs overvalued. Article
> Pearlstine to join Bloomberg. Article

Regulatory News:
> SEC looks at Wachovia and auction rate securities. Article
> Feds close a bank in Arkansas. Article

And Finally... 92-year old shareholder declares war on exec pay. Article

ALSO NOTED: Fitch puts Countrywide on evolving credit watch; Bank of America ready to integrate LaSalle; and much more...

Tue, 06 May 2008 06:59:50 -0400

Company News:
> Interactive Brokers Group to sell shares in Dutch auction. Article
> Fitch puts Countrywide on evolving credit watch. Article
> Ladenburg Thalmann buys Punk, Ziegel & Co. Article
> First Marblehead to slash jobs, costs. Article
> More on Citigroup's Old Lane funds redemptions. Article
> Bank of America ready to integrate LaSalle. Article
> Eddie Lampert faces his shareholders. Article

Industry News:
> Asia pools $80 billion to address liquidity issues. Article

Regulatory News:
> Feds create subprime crime task force. Article
> SEC lowers the boom on Safevest commodities fund. Article

And Finally... Five ways to protect your job in tough times. Article

Bear Stearns: A timeline of decline

Dan Bowman — Tue, 18 Mar 2008 11:44:28 -0400

Yahoo! Finance
Quote for BSC/

So what ultimately led to the demise of one of Wall Street's top banks? While CEO Alan Scwartz is taking a lot of heat for the freefall of Bear Stearns, few can argue he was a sitting duck when he replaced embattled former CEO Jimmy Cayne in January. Below is a look at the company's last six months.

Sept. 27 – Bear Stearns in talks with Buffett

Oct. 17 – China bank to bid for Bear Stearns

Oct. 17 – Behind the Bear Stearns hedge fund fiasco

Oct. 24 – Is Citic the answer for Bear Stearns?

Nov. 15 – Who’s next? Jimmy Cayne, perhaps?

Nov. 29 – Bear Stearns joins the layoff parade

Dec. 19 – Feds looking at inside action at Bear Stearns fund

Dec. 20 – Rumor: Bear Stearns looking to replace Cayne

Jan. 8 – Cayne joins rogues list

Jan. 9 – The future of Bear Stearns

Jan. 10 – Can Bear Stearns be salvaged?

Jan. 11 – Fortress and Bear Stearns deal talks to revive soon?

Jan. 24 – No spate of outright bank failures expected

Feb. 15 – The credit outlook for banks

Feb. 21 – ALSO NOTED: Bear Stearns faces legal action over hedge funds

March 12 – ALSO NOTED: Rumors about Bear Stearns liquidity heat up

March 14 – What’s up with Bear Stearns

March 17 – Update: Bear Stearns finally falls

March 18 – JP Morgan bets big on Bear Stearns

Ex-employee threatening Goldman Sachs?

Tue, 10 Jul 2007 20:01:34 -0400

Well, it doesn't look like any terrorist cells were targeting Goldman Sachs. Nope. The cops have determined that former and obviously pissed employees are behind the numerous letters mailed to newspapers that said, "Hundreds will die. We are inside. You cannot stop us." Whoever sent them is probably sweating bullets right now. The feds are involved and they're bringing to bear all their resources. They've let it be known that their experts have determined that the letters dropped into sidewalk mailboxes in Queens and Manhattan. Hopefully, this will turn out to be an idle threat, the result of some serious drinking more than serious thinking--but you never know.

For more:
- here's an AP update

ALSO NOTED: JP Morgan defends role in Greek bond sale; Hedge fund asks Barclays to drop ABN bid; and much more...

Mon, 11 Jun 2007 20:01:30 -0400

Company News:
> Wells Fargo works with subprime customers. Article
> JP Morgan defends role in Greek bond sale. Article
> Hedge fund asks Barclays to drop ABN bid. Article
> Bank of America launches new card for wealthy. Article

Industry News:
> As if we didn't know: Investment banks CEO raking it in. Article
> Hedge funds exposure via public markets. Article

Regulatory News:
> SEC happy with new proxy rules. Article
> Feds okay CME-CBOT deal. Article

And Finally... Grappling with a long commute. Article

ALSO NOTED: Goldman Sachs boosts stake in British Air.; JPMorgan and Nasdaq together again; and much more...

Tue, 29 May 2007 20:01:30 -0400

Company News:
> KKR withdraws bid. Article
> JPMorgan and Nasdaq together again. Article
> JPMorgan settles old copper scandal suit. Article
> Morningstar director sells shares. Article
> Capital One CFO sells shares. Article
> Goldman Sachs boosts stake in British Air. Article
> Lehman Brothers in Archstone-Smith deal. Article
> Wachovia adds credit card customers. Article

Industry News:
> IBM borrows massively for stock buyback. Article

Regulatory News:
> NASD fines HSBC unit for bonds mishap. Article
> Feds charge high-level investment banker in Pakistan. Article

And Finally... How to manage Gen Yers. Article

ALSO NOTED: Former SEC chiefs warn about hedge funds; Merrill Lynch invests in investment firm; and much more...

Thu, 24 May 2007 20:01:30 -0400

Company News:
> TD Bank beats estimates. Article
> Provident Financial to take 4Q charge. Article
> Merrill Lynch invests in investment firm. Article
> Mellon shareholders approve takeover. Article

Industry News:
> Bankers swarm to Cannes. Article

Regulatory News:
> Rigas conviction upheld. Article
> Former SEC chiefs warn about hedge funds. Article
> Feds call for more card fee disclosure. Article
> NASD issues annual report. Article

And Finally... So you wanna be a hedge fund manager? Article

ALSO NOTED: Fifth Third a deal candidate?; Citigroup advising Barclays; and much more...

Wed, 28 Mar 2007 20:01:30 -0400

Company News:
> ABN Amro advises against break up. Article
> Citigroup advising Barclays. Article
> Wachovia expands wireless banking. Article
> Fifth Third a deal candidate? Article

Regulatory News:
> Officials in U.K. defend AIM. Article
> Feds approve Bank of America deal with U.S. Trust. Article

And Finally... How to strike the perfect work-life balance. Article

ALSO NOTED: Eaton Vance profits turn down; TD Ameritrade CEO sees more good times; and much more...

Wed, 28 Feb 2007 19:01:30 -0500

Company News:
> Eaton Vance profits turn down. Article
> TD Ameritrade CEO sees more good times. Article
> Good marketing: Schwab's tips for Gen-Xers. Release

Industry News:
> Options marts thrive on volatility. Article
> Retail investors stay cool. Article
> Specialists save the day at NYSE during volatility? Article

Regulatory News:
> Feds probe of PIPEs market picks up. Article

And Finally... Want to work for a nonprofit? Article