Dennis Tompkins News
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New York state would face a $14 billion deficit for the year starting April 1 if it measured with a more accurate system, Lieutenant Governor Richard Ravitch said.
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New York state’s deficit may be 22 percent wider than estimated by the Budget Division because tax revenue, including from Wall Street bonuses, may be less than expected.
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Diamondback Capital Management LLC, one of three hedge funds raided by Federal Bureau of Investigation agents, returned three times as much as peers since being founded in 2005, according to an investor letter.
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New York City voters have had no “major” complaints over casting ballots in state general elections today, a contrast to disruptions in the September primaries that Mayor Michael Bloomberg called a “royal screw- up.”
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Harbinger Capital Partners is being investigated by the Securities and Exchange Commission and the U.S. Attorney’s office over a $113 million loan to founder Philip Falcone and possible preferential treatment of some investors, according to two people with knowledge of the probe.
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Goldman Sachs Group Inc. plans to pull all of its $120 million from Philip Falcone ’s main hedge fund after returns lagged behind peers and Falcone disclosed he borrowed $113 million from a smaller fund that had suspended redemptions, said three people briefed on the matter.
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Philip Falcone left his hometown of Chisholm in northern Minnesota’s rusting Iron Range in 1980 in the passenger seat of a 12-year-old Mercury Cougar that cost $150.
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Phil Falcone, founder of Harbinger Capital Partners, has made and lost billions with bets on mortgages and iron mines. Now, in a bid to build a new broadband network, he’s blasting investors money into space.
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The investment performance of New York state’s $124.8 billion pension fund lagged behind that of retirement plans with more than $5 billion in assets during the past five years, data show.
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