Saturday, 20 September 2014
Last updated 22 hours ago
Dec 18 2008 | 2:58am ET
The latest victim of Bernard Madoff’s alleged Ponzi scheme is a Web site. Banco Santander, Spain’s biggest bank, has taken down the homepage of its Optimal Investment Services business, after the hedge fund group told investors it had lost more than one-third of its assets in the Madoff scandal.
Whereas earlier this week the Optimal Web site trumpeted the firm’s “intensive due diligence,” yesterday it merely said, “New website to be launched soon.”
Optimal, which managed US$10 billion in assets at the end of last year, has $3.5 billion of exposure to Bernard L. Madoff Investment Securities. The firm invested assets of its Optimal Strategic US Equity Fund with Madoff.
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.