• The number of workers filing new claims for jobless benefits jumped by 30,000 to a 26-year peak last week. [Reuters]
• AmEx and CIT will get $5.72 billion in bailout money. [Reuters]
• Doubts about Bernie Madoff now appear to date back several decades. [WSJ]
• Liliane Bettencourt, the world's wealthiest woman, is believed to have invested in Bernie Madoff via Thierry Magon de La Villehuchet, the money manager who committed suicide at his office yesterday. [Bloomberg, NYT]
• Steve Feinberg's Cerberus, which has suffered several losing months, is now limiting investor redemptions. [Bloomberg]
• Execs at Old Lane, the hedge fund operated by Vikram Pandit before it was acquired by Citigroup, may be leaving the bank to start a new company. [WSJ]
• Hedge funder Larry Robbins is cutting compensation and staff. [NYP]
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Wall Street
Unemployment Up, Madoff's Victim List Grows
- Posted at 9:23AM on Dec 24, 2008
Email- Filed Under: American Express, Bernie Madoff, Cerberus, CIT Group, Citigroup, Finance, Larry Robbins, Liliane Bettencourt, Old Lane, Steve Feinberg, Thierry Magon de La Villehuchet, Unemployment, Wall Street
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hedgefundlawyer
said at 7:06PM on Dec 31, 2008
Unfortunately because of the Madoff scandal, it is likely that Congress will require hedge fund managers to register with the SEC which will have a chilling effect on <a href="http://www.hedgefundlawblog.com">hedge fund start ups</a>.
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