Hedge Funds Post Record Losses on Short-Sale Bans, Redemptions, Group Says Hedge funds worldwide posted record monthly losses in September, according to Eurekahedge Pte., as short sale bans and client redemptions amid the credit crisis hurt funds including Citadel Investment Group Inc.
Argentine Bonds, Stocks Sink as Pension Seizure Plan Fuels Default Concern Argentina’s bonds and stocks plunged for a second day as a planned government takeover of $29 billion of pension funds heightened concern the South American country is headed for its second default this decade.
CDO Downgrades Show $1 Trillion in Bets on Corporate Debt Turning Toxic Investors are taking losses of up to 90 percent in the $1.2 trillion market for collateralized debt obligations tied to corporate credit as the failures of Lehman Brothers Holdings Inc. and Icelandic banks send shockwaves through the global financial system.
Citic Pacific Faces Hong Kong Regulatory Probe on $2 Billion Currency Loss Citic Pacific Ltd. faced a formal investigation from the Hong Kong Securities and Futures Commission after predicting HK$15.5 billion ($2 billion) of currency losses from unauthorized trades.
Kerkorian, Cerberus Retreat From Auto Stakes Spotlights Industry Collapse The retreat of billionaire Kirk Kerkorian and Cerberus Capital Management LP from stakes in Ford Motor Co. and Chrysler LLC may leave the U.S. auto industry without new funding just as sales head to a 26-year low.
Warsaw Beats London in IPOs as `Casino’ Market Lures Buyers to 69% Losses Warsaw overtook London to become Europe’s hottest market for initial public offerings with a small-cap exchange that’s luring investors even after listed shares tumbled 69 percent this year.
Barney Frank Wields Bailout Clout to Restrain Private Equity, Hedge Funds U.S. Representative Barney Frank is walking through Statuary Hall in the Capitol, a portrait of rumples and wrinkles. His left shirttail hangs out over his belt. Reporters and photographers are hounding him. Cameras are whirring. Questions are being shouted.