Money managers under the microscope
News and views on the fund industry from Reuters and elsewhere:
German bank cuts links with Goldman - Reuters
Goldman’s “fabulous Fab” Tourre is off - Reuters
Bear Stearns rejected deal with Paulson – Guardian
Seems like old times.
Eliot Spitzer, who rose to national prominence in 2002 when he forced a sleepy S.E.C. to crack down on conflicted analyst research, is none too pleased to hear that his old rivals recently joined 12 Wall Street banks in seeking to knock big holes in that wall.
Asked for his thoughts on this Wall Street Journal article that broke the news, this is what he had to tell Reuters in an exclusive interview:
The Dow Jones Industrial Average has recouped more than 50 percent of the losses from the October 2007 peak and the March 2009 bottom.
It’s been a remarkable rally, and the cheerleaders of the world’s major economies say it indicates a return of confidence to markets.