Market Cop: May 2, 2010 - May 8, 2010
BREAKING: Galleon chief Raj Rajaratnam seeks to suppress wiretaps
Galleon hedge fund chief Raj Rajaratnam sought this morning to toss out the 168 wiretaps that form the heart of the government's case against the billionaire. Federal prosecutors unveiled criminal charges against Rajaratnam and associates last fall, saying they had...
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Zachary Goldfarb
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May 7, 2010; 11:55 AM ET |
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Obama's big idea for derivatives might backfire
Harvard professor Mark Roe argues that clearinghouses -- the biggest element of the Obama administration's plan for regulating the derivatives market -- aren't all they're made out to be: As the Senate finalizes its financial reform legislation, a consensus is...
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Zachary Goldfarb
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May 6, 2010; 12:40 PM ET |
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SEC questions whether some mutual fund fees should end
SEC Chairman Mary Schapiro said in a speech today that the agency's staff is studying whether it's appropriate for mutual funds to charge existing investors $12 billion a year to marketing themselves to potential new investors. "Many investors have little...
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Zachary Goldfarb
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May 6, 2010; 12:27 PM ET |
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Faisal Shahzad, alleged Times Square bomber, left his home keys in the car bomb
Faisal Shahzad left the keys to his Connecticut home and to his Isuzu car in the Pathfinder SUV he allegedly drove into Times Square in the hopes of bombing the New York City landmark. That's according to the just-released complaint...
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Zachary Goldfarb
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May 4, 2010; 6:19 PM ET |
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U.S. targeting Madoff family: report
The Associated Press reports that Bernard Madoff's sons and brother could be charged in connection with the massive Ponzi scheme Madoff operated: Federal authorities will charge at least two employees from disgraced financier Bernard Madoff's former firm in the coming...
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Zachary Goldfarb
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May 4, 2010; 1:15 PM ET |
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Goldman Facing Lawsuits Left and Right
Goldman Sachs has made the rare disclosure that it's facing six private lawsuits alleging "breach of fiduciary duty, corporate waste, abuse of control, mismanagement and unjust enrichment" -- all filed since the firm was sued by the government for fraud...
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Zachary Goldfarb
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May 4, 2010; 1:00 PM ET |
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SEC hires new senior lawyer
The SEC has hired Richard A. Levine as associate general counsel for legal policy under general counsel David Becker. From the SEC's press release: Mr. Levine will provide legal and policy advice to the Commission on a wide range of...
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Zachary Goldfarb
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May 4, 2010; 12:25 PM ET |
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