The Daily Caveat is written by Michael Thomas, a recovering corporate investigator in the Washington, DC-area. [More]
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11/06/2008
Bear Stearns Risk Guru Joins NY Fed, Irony Not Lost on Some
More Charges for Bear Stearns Managers? 7/15/2008
SEC Looks to Quash Rumor Mongering
Vanity Fair Delves Deep into Bear Stearns 6/19/2008
Two From Bear Stearns Arrested
Legal Manuvering Precedes Class Action Feast
So, Bear Stearns... 3/02/2008
Big Banks Tagged in Municipal Bond Probe
More Streeters Cop to Insider Trading
Regulators Rebuffed in Investigation of Cayman-Based bear Sterns Funds
Bear Sterns Faces Conflict of Interest Charges from Massachusetts Regulator
Bear Stearns Hedge Fund Troubles Leads to Calls for Greater Transparency
Time Magazine Says More Charges Coming in Insider Trading Probe
Bear Stearns Risk Guru Joins NY Fed, Irony Not Lost on Some
The recent appointment of Michael Alix to a key post has ruffled more than a few feathers in the investor community. Alix was formerly the chief risk officer from 2006 to 2008 and global head of credit risk management from 1996 to 2006 for the now defunct house, Bear Stearns.
-- MDT
7/22/2008
-- MDT
Labels: Bear Stearns, Michael Alix
More Charges for Bear Stearns Managers? 7/15/2008
SEC Looks to Quash Rumor Mongering
When it doubt, blame the shorts, right?
Or mouthy brokers...
-- MDT
7/07/2008
Or mouthy brokers...
-- MDT
Labels: Bear Stearns, Christopher Cox, SEC, short selling
Vanity Fair Delves Deep into Bear Stearns 6/19/2008
Two From Bear Stearns Arrested
The first to face criminal charges out of the sub prime meltdown?
-- MDT
5/28/2008
-- MDT
Labels: Bear Stearns, sub-prime mortgage
Legal Manuvering Precedes Class Action Feast
The meal? Bear Stearns rotting corpse.
With the entré decided, all that remains to be seen is who will sit at the head of the table.
-- MDT
3/17/2008
With the entré decided, all that remains to be seen is who will sit at the head of the table.
-- MDT
Labels: Bear Stearns, class action
So, Bear Stearns... 3/02/2008
Big Banks Tagged in Municipal Bond Probe
Frankly, just typing the phrase municipal bond probe makes me want to nap... But when the names Wachovia, Deutsche Bank, Goldman Sachs and Bear Stearns are being flagged by the Justice Department for possible bid rigging I feel honor bound to at least acknowledge that it is happening.
-- MDT
2/27/2008
-- MDT
Labels: Bear Stearns, bid-rigging, Deutsche Bank, DOJ, Goldman Sachs, municiple bonds, Wachovia
More Streeters Cop to Insider Trading
Former USB institutional client manager, Mitchel Guttenberg, and his literal partner in crime, David Tavdy - formerly of Assent - recently plead guilty in a New York court to conspiracy and securities fraud.
These two Wall-Streeters make 12 of 13 guilty pleas from individuals fingered last March as participants in a massive insider trading ring.
Lucky number 13 (well, we actually counted fourteen), Samuel Childs another former Asset broker has plead not guilty, with a trial set for June.
11/20/2007
These two Wall-Streeters make 12 of 13 guilty pleas from individuals fingered last March as participants in a massive insider trading ring.
Lucky number 13 (well, we actually counted fourteen), Samuel Childs another former Asset broker has plead not guilty, with a trial set for June.
Labels: Bear Stearns, David Tavdy, insider trading, Mitchel Guttenberg, USB
Regulators Rebuffed in Investigation of Cayman-Based bear Sterns Funds
Regulators lack jurisdiction in the Caymans?
Exactly.
-- MDT
11/15/2007
Exactly.
-- MDT
Labels: Bear Stearns, colateralized debt obligations, hedge fund, mortgage backed securities
Bear Sterns Faces Conflict of Interest Charges from Massachusetts Regulator
The already reeling-from-writedowns Bear Stearns is facing charges that it violated the Massachusetts Uniform Securities Act. As you might expect, given the current business climate, this all finds its way back to hedge funds, colateralized debt obligations and the Cayman Islands.
-- MDT
7/03/2007
-- MDT
Labels: Bear Stearns, colateralized debt obligations, hedge fund, mortgage backed securities
Bear Stearns Hedge Fund Troubles Leads to Calls for Greater Transparency
Bear Stearn's year old High-Grade Structured Credit Fund turned out to be anything but - as of April 30 it was doen 23% on the year. In fact BS will have to jack up the fund by a billion and a half dollars just to keep it afloat. Hard to value assets and hard to assess strategies made the fund less than marketable. Bear Stearns "no questions" policy wasn't exactly a draw, it seems.
-- MDT
3/08/2007
-- MDT
Labels: Bear Stearns, hedge fund
Time Magazine Says More Charges Coming in Insider Trading Probe
In a recent statement to Time Magazine, SEC spokesman Scott Friestad indicated that several more individuals would likely face charges as the SEC continues its investigation over the next few months. Friestad also offered this background on how the insider trading scam that has so far felled 14 individuals - some from major New York banking institutions (UBS, Banc of America, Bear Stearns, Morgan Stanley), came to light:
-- MDT
"The investigation began as routine probe of suspicious high-volume trading prior to the acquisition of Catellas Development," said Friestad. The probe led to Eric Franklin, a hedge fund manager for Q Capital Investment Partners, LP, a Delaware limited partnership with offices in Fort Lee, N.J. "We linked those trades to Mr. Franklin and obtained trading records for Q Capital, and Mr. Franklin's own records for his personal account, and noticed that what they had in common was Morgan Stanley as the investment banker. We also noticed that a lot of the trading preceded upgrades and downgrades issued by UBS [Union Bank of Switzerland] and then the whole scheme began to unravel."Read more on the insider trading investigation at Time Magazine. And for a run down of the 14 indicted so far, check out this Daily Caveat post from last week.
-- MDT
Labels: Andover Brokerage, Assent LLC, Banc of America, Bear Stearns, Catellas Development, Chelsea Capital, insider trading, Jasper Capital, Morgan Stanley, Q Capital, SEC, UBS
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