Tuesday, 23 September 2014
Last updated 21 min ago
Aug 4 2014 | 9:13am ET
Former U.S. House of Representatives Majority Leader Eric Cantor resigned from Congress last week, ostensibly to give the man who defeated him in a June primary “a voice in what will be a very consequential lame-duck session.” But he may have had less altruistic reasons for quitting.
Politico reports that the Virginia Republican’s exit before the end of his term will not only give his presumptive successor, economics professor David Brat, a head start, but will give Cantor himself a head-start on the one-year period during which he is barred from lobbying and—perhaps more importantly—will relieve him of the obligation to report with whom he is talking about his future.
According to Politico, Cantor is leaning towards Wall Street over K Street and taking most seriously opportunities in banking or alternative investments. The website notes that since his shocking primary defeat, Cantor has spent most of his summer in the Hamptons, where he’s likely to have been rubbing shoulders with the financial elite.
Cantor has long been a close ally of Wall Street on Capitol Hill. His successor as majority leader, Rep. Kevin McCarthy (R-Calif.) noted that Cantor “knows financial markets well.”
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitich, CIO of Petty Endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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.