Secretary of State Hillary Clinton is scheduled to visit Haiti tomorrow to meet with Haitian President Rene Preval and presidential candidates as the outcome of Haiti’s election remains undecided and the effort to rebuild after last year’s earthquake is drawing criticism.
Thomas Priore was about to play the biggest football game of his life. The Harvard University quarterback, who’d lost his starting job earlier in the season, was given a second chance and would take the field against rival Yale University.
A U.S. lawsuit against ICP Asset Management LLC opens a new front in the government’s probe of collateralized debt obligations, focusing on managers of instruments that in some cases wiped out investors in less than a year.
Magnetar Capital LLC, the $7 billion hedge-fund firm that profited in 2007 from wagers that subprime-housing debt would tumble, told investors it didn’t help banks create mortgage-linked investments “built to fail.” The firm offered limited input on the selection of securities in the deals and made bets that would pay off if they soured, as part of a “market neutral” portfolio designed to profit no matter what happened, according to a letter to clients yesterday from Evanston
Two mortgage-linked investments tied to hedge-fund firm Magnetar Capital LLC had better disclosures about conflicts of interest than a Goldman Sachs Group Inc. transaction, Securities and Exchange Commission staff told the bank’s lawyers in a meeting.