The Regulators Are Whistling A New Tune…
This just in – hedge funds are important liquidity providers… The Financial Stability OversightCouncil wrote in a draft report that without hedge funds in the market, well the markets might freeze. It seems that these folks figured out that hedge funds provide liquidity when other market participants sit on the sidelines. According to Bloomberg News, the The 80-page report is a preliminary draft that, does not make any reccomendations but does provide insight into how Federal Reserve Chairman Ben S. Bernanke, Treasury SecretaryTimothy F. Geithner and other regulators will determine which firms are important to the markets. The council was created as part of the Dodd-Frank law and should make […]
Who Cares about Madoff?
This just in – Bernie Madoffknew who what when during his thievery. Yawn. The last few days the media have been having a field day covering Madoff’s revelations as told to The New York Times reporter Diana Henriques. Her story, which consisted of material from an interview and email exchange with the master manipulator for a book she’s writing, shed no new light on the story, except that Madoff seems to be still laughing about his success. Ms. Henriques seems to have learned a thing or two from the master manipulator – her story, which appeared on the front page ofThe New York Times this week and was picked up […]