last-year

Former Credit Suisse distressed debt chief joins BofA ML

September 30, 2009

has hired a former Credit Suisse executive who used to run the Swiss banks distressed debt business that was wound down last year, amid signs of renewed confidence in the sector

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Wall Street Gambles Again: Bankers To Buy Up Life Insurance Policies Of Ill And Elderly

September 5, 2009

After the mortgage business imploded last year, Wall Street investment banks began searching for another big idea to make money. They think they may have found one. The bankers plan to buy “life settlements,” life insurance policies that ill and elderly people sell for cash — $400,000 for a $1 million policy, say, depending on the life expectancy of the insured person.

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S&P: Corporate defaults surging this year

August 28, 2009

NEW YORK – The number of global corporations defaulting on debt obligations is running nearly four times the pace of last year, Standard & Poor's said Friday. The ratings agency said the year-to-date tally of defaults this week reached 211

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Banks ‘Too Big to Fail’ Have Grown Even Bigger

August 27, 2009

When the credit crisis struck last year, federal regulators pumped tens of billions of dollars into the nation’s leading financial institutions because the banks were so big that officials feared their failure would ruin the entire financial system. Today, the biggest of those banks are even bigger.

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Judge Refuses To Approve BofA Settlement With SEC, Attacks Merrill Bonuses

August 10, 2009

Reigniting a major controversy over Wall Street pay, a federal judge on Monday sharply criticized the bonuses that Merrill Lynch hurriedly paid out before it was acquired by Bank of America last year and pointedly questioned a federal settlement that had seemed to put the issue to rest.

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Senate Probes Goldman, Deutsche Bank For Mortgage Meltdown Fraud

July 29, 2009

WASHINGTON — A Senate panel has subpoenaed financial institutions, including Goldman Sachs Group Inc. and Deutsche Bank AG, seeking evidence of fraud in last year’s mortgage-market meltdown, according to people familiar with the situation.

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Small Business Bankruptcies To Double This Year: Report

July 28, 2009

Small businesses are going bankrupt this year at more than twice the rate that they were last year, according to Equifax.

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CalPERS revs up private equity, and vice versa « Calpensions

May 17, 2009

A financial news service, Bloomberg, reported in April that CalPERS put $1.7 billion into Leon Black’s Apollo private equity fund last year, more than twice as much as it gave to any other manager.

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