Morgan Stanley Is Said to Seek a Sale or Partnership for Van Kampen Unit Morgan Stanley, the biggest U.S. brokerage, approached asset-management firms in the past two months to gauge their interest in buying or forming a partnership with its Van Kampen mutual-fund business, people with knowledge of the talks said.
FDIC Cuts Required Capital Ratio to 10% for Buyers of Failed U.S. Banks The Federal Deposit Insurance Corp. approved weakened rules for letting private-equity firms buy failed banks, aiming to widen a pool of potential acquirers for a growing roster of shuttered lenders.
Quebec’s Caisse de Depot Said to Risk Losing $462 Million on Halabi Loan Caisse de Depot et Placement du Quebec, Canada’s biggest pension-fund manager, may lose 285 million pounds ($462 million) on debt secured against investor Simon Halabi’s London properties after their value fell about 50 percent, according to two people familiar with the situation.
Amaranth Advisors Won’t Face SEC Enforcement Action as Investigation Ends Amaranth Advisors LLC, the hedge- fund that lost $6.6 billion in September 2006, won’t face enforcement action by the U.S. Securities and Exchange Commission.
Bernanke May Redefine Fed’s Mission With New Power Over Financial Markets Ben S. Bernanke’s renomination allows him to redefine the Federal Reserve’s mission as he expands its power over financial markets and pulls back on a credit surge the central bank used to keep the economy from collapse, economists say.
MassMutual Loses `AAA’ From S&P on Falling Value of Asset-Management Units Massachusetts Mutual Life Insurance Co., the 158-year-old policyholder-owned carrier, was stripped of its AAA rating by Standard & Poor’s on the drop in the value of asset management units.
Sarkozy’s Threat to Shun Bankers on Pay Sparks Concern From U.S. Investors French President Nicolas Sarkozy’s plan to shun bankers who don’t accept pay limits was met with alarm by analysts and investors in the U.S., where Citigroup Inc. and six other bailed-out companies are being grilled by the government on how they compensate top-paid executives.