Bill Gross and Larry Fink manage a $3 trillion pile of bonds -- an amount almost as big as Germany’s economy. Their firms, Pacific Investment Management Co. and BlackRock Inc., doubled holdings since 2008, outpacing the market’s growth of 50 percent.
The practice of dealers showing clients different prices for the same securities on electronic bond-trading platforms is drawing the scrutiny of the U.S. Securities and Exchange Commission, which is concerned that smaller investors are being penalized.
An internal investigation by the International Monetary Fund into allegations that Dominique Strauss-Kahn , then its managing director, abused his position of power failed because the alleged victim refused to cooperate.
Former American International Group Inc. Chief Executive Officer Maurice “Hank” Greenberg asked New York’s highest court to clear his name and dismiss what remains of an eight-year-old lawsuit over an AIG accounting scandal.