Saturday, 30 August 2014
Last updated 23 hours ago
Feb 7 2008 | 1:04pm ET
Bear Stearns may be in serious legal jeopardy over the collapse of two credit hedge funds last year.
Already facing hundreds of millions in claims from aggrieved investors, who lost $1.6 billion in the High-Grade Structured Credit Fund and a more levered sister vehicle, the Wall Street firm is now facing the prospect of a federal indictment.
Federal prosecutors are in talks with high-ranking Bear executives, CNBC’s Charlie Gasparino reports, and have already spoken with Rich Marin, the former head of Bear Stearns Asset Management. According to Gasparino, an indictment of the firm is possible.
The two Bear funds went bankrupt last year after huge losses in subprime mortgage-linked bonds and other credit assets.
In December, the Securities and Exchange Commission announced it was investigating the withdrawal of $2 million from the funds by former manager, Ralph Cioffi, who has since left the firm.
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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…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...