Saturday, 23 August 2014
Last updated 1 day ago
Feb 23 2009 | 12:34am ET
While some of its clients have very loudly opposed Banco Santander’s Bernard Madoff settlement offer, most have chosen to go along.
Spain’s largest bank told a Miami court last week that about 70% of its Madoff-burned investors have decided to accept its compensation plan. Santander has offered subordinated debt securities with a 2% annual payout to its clients, who lost about US$1.7 billion in Madoff’s alleged US$50 billion Ponzi scheme. Santander’s hedge fund unit, Optimal Asset Management, has acknowledged some €2.3 billion (US$3 billion) of exposure to Bernard L. Madoff Investment Securities.
The settlement offer was made only to Santander’s individual investors, and not to institutions.
Aug 4 2014 | 7:42am ET
By now, U.S. and international subscribers have received their home or office delivery of the special 500th issue of Futures magazine. You can too!—a very special offer follows. The issue is the largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders. Read more…
The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.
The Alpha Pages Editor's Note