Hedge funds are snapping up delinquent mortgages / Investment banks happy to get rid of tainted loan assets

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Hedge funds are snapping up delinquent mortgages / Investment banks happy to get rid of tainted loan assets

SF Chronicle | August 3rd, 2008 | Email this

Guess who holds your mortgage now? It's your friendly neighborhood hedge fund. Dozens of hedge funds, private-equity groups and other investors have plunged into the beaten-down mortgage market in recent months, buying tens of thousands of distressed loans[...]

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Fraud Suit Against UBS Is Dismissed

Wall Street Journal | July 29th, 2008 | Email this

A New York Supreme Court judge dismissed a lawsuit alleging UBS, the prime broker of collapsed hedge fund Wood River, fraudulently earned more than $100 million by misusing knowledge of the fund's trades.[...]

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A Deal at Merrill Puts Spotlight on Others

New York Times | July 29th, 2008 | Email this

The fire sale of mortgage investments at Merrill Lynch raises a troubling question for the nation’s financial industry: Have other banks with similar investments overestimated their values?[...]

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Merrill's Moves Make It More Appealing Takeover Candidate

Seeking Alpha | July 29th, 2008 | Email this

CreditSights welcomes Merrill Lynch’s (MER) decision to take a markdown of $5.7 billion and raise up to $9.8 billion in capital. In a new report Merrill Lynch: Clearing CDO Cobwebs, Can Investors be Constructive?, CreditSights says,[...]

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Nomura Holdings, Inc. F1Q09 (Qtr. End 06/30/08) Earnings Call

Seeking Alpha | July 29th, 2008 | Email this

Nomura Holdings, Inc. (NMR) Q1 FY09 Earnings Call[...]

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First Merrill, Then Citi?

Forbes | July 29th, 2008 | Email this

Merrill's $30 billion yard sale this week doesn't bode well for rival Citigroup.[...]

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Painful move becomes Thain's only real option

Financial Times | July 29th, 2008 | Email this

John Thain, Merrill Lynch's chief executive, agreed to sell a $30.6bn pile of mortgage-backed collateralised debt obligations for just $6.7bn only days after saying he would not do something 'dumb' like that[...]

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