Saturday, 20 September 2014
Last updated 22 hours ago
Apr 27 2010 | 2:39am ET
Citadel Investment Group founder Kenneth Griffin remains loyal to Goldman Sachs, and blasted Democrats for using the fraud charges against the Wall Street giant to push their financial reform proposals.
Griffin said Citadel would “absolutely” remain a Goldman client, adding, “from my personal experience, Goldman Sachs has been a very solid partner of Citadel.” And while he acknowledged that “the Goldman Sachs case has clearly energized the Democrats with respect to passing the regulator reform,” he has no sympathy for the new momentum-builder.
“I think that the disclosure around one transaction being the justification to vilify Goldman Sachs or to pass regulatory reform is just incredible,” Griffin told the Milken Institute Global Conference in Beverly Hills, Calif. “I don’t want to use the word childish, but it’s childish.”
The Securities and Exchange Commission has accused Goldman of misleading investors about the role of hedge fund Paulson & Co. in the structuring of a collateralized debt obligation that would up costing investors some $1 billion—and making Paulson, which shorted the CDO, an equal amount. But Griffin called the matter a fight over a “highly technical point” and not a matter of Goldman’s “lacking in integrity and ethics.”
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.