Implode-Explode Heavy Industries news feed

U.S. stocks close lower on fears the Fed may raise interest rates four times this year

Thu, 03 May 2018 00:04:47 GMT

``"The Fed views the economy as having improved and inflation has returned to normal," he said. "That environment, in the Fed's opinion, no longer justifies overly accommodative monetary policy." ''

Swiss Franc Wiped Out Everest's Main Fund

Tue, 20 Jan 2015 14:02:48 GMT

``Marko Dimitrijevic, the hedge fund manager who survived at least five emerging market debt crises, is closing his largest hedge fund after losing virtually all its money this week when the Swiss National Bank unexpectedly let the franc trade freely against the euro, according to a person familiar with the firm. Everest Capital's Global Fund had about $830 million in assets as of the end of December, according to a client report.''

Gold Bears, Beware! Don't Take On Central Banks

Mon, 11 Mar 2013 13:02:16 GMT

``"When you see central bankers acquiring gold, you can kind of take it like this: You don't fight in the stock markets when the Fed (U.S. Federal Reserve) is easing, so you wouldn't want to fight the central banks when they're buying gold, because they have deep pockets," Philip Silverman, managing director at Kingsview Management in New York told CNBC on Thursday.''

New Stream Hedge Fund Executives Charged with Criminal Fraud

Wed, 27 Feb 2013 16:10:41 GMT

Today at 1pm in Hartford, Conn. federal court executives of Ridgefield-based hedge fund New Stream Capital were indicted on 19 counts of conspiracy, securities fraud and wire fraud. Tom Carson, DOJ pressman, confirmed the arrest of David Bryson and his co-founder Bart Gutekunst along with his CFO Richard Pereira last week. The case has been unsealed today. I first reported in 2009 the hedge fund was being investigated for investor fraud by the FBI at Hedge Fund Implode and continued to report on the fund's bankruptcy and investor lawsuits for DealFlow Media and Forbes over the last two years.

Wells Fargo Retracts Help For Dying Woman, Plans To Foreclose 6 Days Before X-mas

Sat, 15 Sep 2012 16:56:12 GMT

Back in July, Davis's struggle to keep her home after falling behind on her mortgage payments due to her medical bills became a national story. After the media scrutiny, it seemed Wells Fargo had relented on foreclosing on Davis, and the bank even wrote a letter to a local radio station indicating it was seeking "assistance" from nonprofit organizations for her but it appears Wells Fargo has had a change of heart: The bank now has set the foreclosure auction date for Davis's home for Dec. 19, less than a week before Christmas.

Is Wells Fargo Run By The Catty Ladies From TV's Dynasty?

Fri, 14 Sep 2012 17:16:18 GMT

It appears that Alexis, Krystle and rest of those crazy women who entertained us back in the 1980s with their cattiness and their cat fights seem to have become the model of behavior for executives at Wells Fargo.

Dead Homeowners Are Like Dead Interns, They Haunt Politicians On Election Day

Wed, 12 Sep 2012 18:13:00 GMT

Wayne County Treasurer Ray Wojtowicz is auctioning off the home of unemployed single mother of two, Kelly Parker who is dying of cancer. Parker is planning on being defiant until the very end. Last night she said, "This is our house and we're not leaving. I mean, good luck because you're not going to get it,"

FDIC Sues Banks and Depositors Over MBS Fraud

Tue, 11 Sep 2012 19:12:34 GMT

``On August 17th, the FDIC as receiver for Guaranty Bank out of Texas brought suit against Ally Securities, Bank of America, Bear Stearns Companies, Countrywide Financial Corp., Countrywide Securities, CWALT, Deutsche Bank Securities, Goldman Sachs, JPMorgan Securities, Merrill Lynch, Royal Bank of Scotland, Structured Asset Mortgage Investment II, Inc, WaMu Asset Acceptance and WaMu Capital Corporation for misleading Guaranty Bank into buying toxic mortgage backed securities that lead to it's collapse in 2009. The three lawsuits make for an interesting read so grab your coffee.''

Did Romney Finance Chair Advise Clients To Steal Money From School Children?

Tue, 11 Sep 2012 04:50:24 GMT

Romney Michigan Finance Chair David Trott's law firm along with Orlans Associates major GOP contributor has been named as a co-defendant in a tax fraud case for cheating Michigan taxpayers out nearly $1.2 Billion since 1999.

MFI-Miami Client Spanks Linda Orlans, Scores Free House From Fannie Mae

Mon, 10 Sep 2012 00:48:13 GMT

Robin Roberts gets to stay in her home after a judge ruled that Fannie Mae's attorneys, Orlans Associates were trying to illegally evict her. The judge also ruled Fannie Mae has to pay her legal fees.

Markets rally on upside German growth surprise

Tue, 14 Aug 2012 13:03:25 GMT

Stronger-than-anticipated economic growth in Germany has helped shore up markets Tuesday even though Europe's economy as a whole appears headed for recession.
Investors breathed a sigh of relief on the news that Germany, Europe's biggest economy, posted 0.3 percent growth in the second quarter. The consensus in the markets was for a lower figure, with some analysts predicting a flat reading.

A better rounding error than expected! Any excuse to rally...

Atticus Global - Implosion

Tue, 11 Aug 2009 23:16:10 GMT

All funds at Atticus (most notably, Global) have been shut down, save the European Fund, as the $20B outfit has shrunk to around $5B. We also have news on some of the infighting that surrounded the fund's circling-of-the-drain since the market collapse last year. Click through for more.

Austin Capital Management - Safe Harbor Fund

Thu, 14 May 2009 21:07:48 GMT

Fund, owned by Keycorp, shutting down hedge fund which lost reportedly $186M by being "Madoffed".

Satellite Asset Management

Sun, 10 May 2009 13:44:40 GMT

This $3B ($7B at peak) Soros-alum fund has called it quits, facing value declines and hefty withdrawals.

Perot family fund, Parkcentral Global Hub, imploded

Mon, 27 Apr 2009 14:09:10 GMT

The Perot family fund, Parkcentral Global Hub, has been added to the "imploded" list having shut down after going from some $2.5 billion in assets under management to $250 million seized by the New York State Supreme Court.

Weavering Capital's Flagship Fund Goes

Fri, 20 Mar 2009 13:55:38 GMT

London fund outfit Weavering has had to shut down its flagship fund "Macro Fixed Income" after discovering that $637M out of $639M of positions were a single derivatives trade with an offshore firm controlled by founder and CEO Magnus Peterson. Click the link above to read more.

Hedge Implode: Highland CDO Opportunity Fund LP

Sat, 21 Feb 2009 00:46:09 GMT

A third fund joins two others already kaput from the formerly-$40B+ fund outfit. Click through above to read more.

Madoff Securities Ponzi Implosion

Wed, 17 Dec 2008 18:50:26 GMT

We've listed Bernie Madoff's Ponzi-fund, Bernard L. Madoff Investment Securities as "imploded!"

HF Implode: Okumus Capital

Sat, 13 Dec 2008 18:26:52 GMT

Almost $1B fund shop closes doors; main hedge fund down over 42% YTD; possibly 75%+ decline in AUM. Click through above to read our entire profile on Okumus.

HF implosions: Four Funds From ING

Thu, 11 Dec 2008 03:11:58 GMT

Two funds mentioned back in March, and two more funds (some of which were tied to subprime) are being wound down. The size of the funds at peak was about NZ$521M; now sporting a 50% loss estimate. Click through above to read more.