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09 Nov

Madoff Trustee Drops Claim Against Merkin

The court-appointed trustee in charge of recovering assets for investors burned by Bernard Madoff has withdrawn a $279 million claim against financier J. Ezra Merkin's Ariel and Gabriel funds. ...

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California May Limit Placement Agents

California's state controller is drafting legislation that could curb pay for financial middlemen, whose fees have sparked an internal investigation at giant public pension fund Calpers. ...

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Treasury to Bar Fannie Tax Credit Sale

The U.S. Treasury has blocked Fannie Mae's proposed sale of nearly $3 billion in low-income housing tax credits to Goldman Sachs and Berkshire Hathaway after concluding that the deal would lose too much money for taxpayers. ...

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More Profit For AIG, But Challenge Too

AIG posted its second profitable quarter in a row, but weak results at its main insurance businesses underscored the scale of the challenges the giant insurer still faces. ...

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Berkshire's Net Triples to $3.24 Billion

Berkshire Hathaway's third-quarter earnings tripled with help from rising stock markets. Profit jumped to $3.24 billion, and revenue rose 7.1% to $29.9 billion. ...

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Investigators Seek Clues in Rampage

Investigators interviewed soldiers and military-base personnel, trying to piece together details in the Fort Hood, Texas, massacre that left 13 people dead and dozens wounded. ...


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