Thursday, 18 September 2014
Last updated 12 hours ago
Dec 8 2011 | 2:21am ET
The court-appointed trustee in the Bernard Madoff Ponzi scheme case has appealed a judge's dismissal of a $19 billion claim against JPMorgan Chase.
U.S. District Judge Colleen McMahon last month junked the suit, ruling that, when dealing with third parties, Irving Picard represents Bernard L. Madoff Investment Securities, and not Madoff's victims. Only the fraudster's victims—his creditors—can sue third parties.
Picard argued that such a reading of the law could seriously restrict the amount he'll be able to recover from the $65 billion fraud—by as much as $40 billion.
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.