LI BANK EXECUTIVES STEP WAY OVER THE LINE
WITH financial services stocks getting squashed from coast-to-coast and WaMu last week becoming the 12th bank – and the largest ever – to fail, you can understand how executives at some thrifts are...
View ArticleEVEN GOOD BANKS SEE SHARES HIT
Even well-run banks with little subprime or exotic option-ARM mortgages are getting hurt. Sovereign Bank, whose well-capitalized balance sheet stands out among its peers, saw its shares beaten down 24...
View ArticleHANK WASTES NO TIME
With the ink barely dry on the $700 billion bank bailout, some on Wall Street are buzzing that Treasury Secretary Hank Paulson will make a huge statement to the financial community by cobbling together...
View ArticleFALCONE’S WACHOVIA SHORT BET
While most traders who make their living betting financial sector stocks will decline have been forced to the sidelines in recent weeks because of the Securities and Exchange Commission ban on...
View ArticleTROUBLE SHOOTER
Jeffrey Gendell has a message for anyone who lost money in his hedge fund: Good news! I’m letting you double down your bets. Despite a 65 percent year-to-date loss, Gendell’s $10 billion Tontine...
View ArticleTHE PRETENDERS
When Wells Fargo reported third-quarter earnings last week – which beat Wall Street expectations by a few pennies – investors cheered, and watched the bank’s shares keep most of the 9 percent gain they...
View ArticleDEVANEY BOOED OFF STAGE
JOHN Devaney, who be came the poster-boy for hedge-fund blow-ups when his $600 million fund went belly-up earlier this year after a wrong-way bet on the direction of the asset-backed securities index,...
View ArticlePUSH TO REVIVE RISKY LOANS
The riskiest type of government-backed mortgages could soon return to haunt the country. Rep. Christopher Shays, the embattled lawmaker in a close race for his seat in tony Fairfield County, Conn., is...
View ArticleHEDGE SURVIVOR
Look who’s sitting atop one sector of the hedge-fund world. Joe Wolnick, 53, the head of Halcyon Asset Management’s $850 million Asset Backed Securities hedge fund, is up 3 percent through Sept. 30,...
View ArticleHEDGE FUND CHIEF SHORT AND $WEET
Renowned short seller Jim Chanos is emerging as a potential front-runner for this year’s prize for top hedge-fund performer. According to performance data obtained by The Post, Chanos’ short-only fund,...
View ArticleCHANOS’ RIDE TO BIG GAIN
THERE they were last week, five noted hedge-fund traders getting sworn in and giving testimony before Congress. Phil Falcone, Ken Griffin, John Paulson, James Simons and George Soros, no strangers to...
View ArticleGOLDMAN TRADERS STILL EYEING ‘08 BONUSES
While the top management of Wall Street banks are being pressured to forego bonuses in light of the companies’ acceptance of billions of dollars in TARP money, traders are being told they will still be...
View ArticleHANK’S BAD GAMBLE
The federal government keeps promising taxpayers they will realize a profit on the beaten-down assets purchased under the bank rescue plan. But critics warn Hank Paulson and company have chosen the...
View ArticleHIGH-SOCIETY NETWORKING
A Upper East Side financier, frustrated over the lack of available money to complete any deals, plans to pump at least $1 million of his own money into a 15-year-old worldwide social-networking company...
View ArticleSHOULDA STUCK WITH PLAN, HANK
Two hedge fund managers have stolen a page from Treasury Secretary Hank Paulson’s original bank rescue playbook and are buying distressed mortgage assets from banks – and posting solid profits....
View ArticleREWORKED LOANS AREN’T WORKING AT INDYMAC BANK
The mortgage-modification program of IndyMac Federal Bank, hailed by many as a template for allowing delinquent homeowners keep their houses, is an outright failure, an eye-opening report by a mortgage...
View ArticleFDIC FACES UP TO $10B WHACK ON INDYMAC LOANS
THE Federal Deposit In surance Corp. may not have fully washed its hands of IndyMac Bank. Despite the agreement to sell of the once-troubled bank last week to a group of private-equity investors for...
View ArticleDON’T BANK ON IT
Two-thirds of the Federal Home Loan Banks, their balance sheets weakened by investments in toxic mortgage securities, could be forced to turn to the federal government for a rescue that could reach as...
View ArticleHEDGIES CASH IN ON BANKS
As banking stocks suffered through one of their worst days ever last Tuesday – Citigroup, Bank of America, Wells Fargo, US Bank, JPMorgan Chase and others fell more than 20 percent – not every investor...
View ArticleDOUBLE DOWNED
Doubledown Media, the five-year old publisher of Trader Monthly, Dealmaker and other titles aimed at financial professionals, has put itself up for sale, The Post has learned. Randall Lane, CEO,...
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