IEHI Feed: The Hedge Fund Implode-o-Meter http://implode-explode.com/ Tracking the many faces of the global credit implosion. en-us iehi-feed-54451 Wed, 23 Jul 2014 01:45:36 GMT NY Fed found serious problems at Deutsche Bank's U.S. arms http://hf-implode.com/viewnews/2014-07-22_NYFedfoundseriousproblemsatDeutscheBanksUSarms.html iehi-feed-54450 Tue, 22 Jul 2014 14:42:01 GMT Saudi Stocks Soar as Kingdom Opens to Foreigners Next Year http://hf-implode.com/viewnews/2014-07-22_SaudiStocksSoarasKingdomOpenstoForeignersNextYear.html iehi-feed-54443 Tue, 22 Jul 2014 14:20:54 GMT Serious Fraud Office set to launch criminal probe into forex rigging http://hf-implode.com/viewnews/2014-07-22_SeriousFraudOfficesettolaunchcriminalprobeintoforexrigging.html iehi-feed-54439 Mon, 21 Jul 2014 21:05:32 GMT Wall Street Adapts to New Regulatory Regime Under Dodd-Frank http://hf-implode.com/viewnews/2014-07-21_WallStreetAdaptstoNewRegulatoryRegimeUnderDoddFrank.html "Dodd-Frank certainly catalyzed substantial amounts of simplification, and we're moving well beyond that through our own initiatives," said James Mahoney, a Bank of America spokesman.

The new regulatory regime is also prompting banks to add thousands of staffers to help ensure compliance. By the end of this year, J.P. Morgan Chase JPM 0.00% & Co. expects to have added 13,000 employees focused on regulatory, compliance and control efforts, Chief Executive Officer James Dimon said in his annual shareholder letter. John Gerspach, Citigroup's chief financial officer, told investors Monday the company will likely end the year with 30,000 people dedicated to regulatory and compliance efforts, a 33% increase from 2011, even as Citigroup cuts its overall headcount.

Bank regulators point to the changes on Wall Street as evidence their efforts to suck risk out of the financial system are working. "Really we're in a substantially different place, and a much improved place," said Thomas Curry, comptroller of the currency.

But the banks' efforts are not enough to damp worries among some policymakers and lawmakers that the broader economy remains vulnerable to the potential collapse of a large, interconnected financial firm. Banks' are getting hungrier for risk as they try to compensate for sluggish economic growth, ultra-low interest rates and higher regulatory costs though appetites remain subdued compared to pre-crisis levels.

U.S. leveraged syndicated lending totaled $1.244 trillion in deal volume in 2013, up from $893 million in 2012 and surpassing the 2007 peak of $1.191 trillion, according to data from Dealogic. Banks provide the vast majority of the leveraged loans to fund buyouts.''

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iehi-feed-54437 Mon, 21 Jul 2014 13:40:38 GMT The Subprime Auto Loan Bubble Bursts http://hf-implode.com/viewnews/2014-07-21_TheSubprimeAutoLoanBubbleBursts.html iehi-feed-54436 Mon, 21 Jul 2014 13:36:12 GMT UBS Warns Everything Is Overpriced, Prepares For Sell-Off http://hf-implode.com/viewnews/2014-07-21_UBSWarnsEverythingIsOverpricedPreparesForSellOff.html iehi-feed-54434 Mon, 21 Jul 2014 13:27:48 GMT Why Bank of Cyprus needs additional capital http://hf-implode.com/viewnews/2014-07-21_WhyBankofCyprusneedsadditionalcapital.html iehi-feed-54433 Mon, 21 Jul 2014 13:13:09 GMT The inflection point has arrived in Southern California real estate http://hf-implode.com/viewnews/2014-07-21_TheinflectionpointhasarrivedinSouthernCaliforniarealestate.html iehi-feed-54432 Mon, 21 Jul 2014 13:03:59 GMT Repub. Report: Dodd-Frank Worsens TBTF http://hf-implode.com/viewnews/2014-07-21_RepubReportDoddFrankWorsensTBTF.html iehi-feed-54430 Mon, 21 Jul 2014 13:01:48 GMT SNB Agrees Swap Line With PBOC as Swiss-China Trade Rises http://hf-implode.com/viewnews/2014-07-21_SNBAgreesSwapLineWithPBOCasSwissChinaTradeRises.html iehi-feed-54431 Mon, 21 Jul 2014 13:01:48 GMT SNB Agrees Swap Line With PBOC as Swiss-China Trade Rises http://hf-implode.com/viewnews/2014-07-21_SNBAgreesSwapLineWithPBOCasSwissChinaTradeRises.html iehi-feed-54424 Sun, 20 Jul 2014 21:57:36 GMT The Ongoing Rot in the Economy http://hf-implode.com/viewnews/2014-07-20_TheOngoingRotintheEconomy.html iehi-feed-54422 Sun, 20 Jul 2014 10:26:23 GMT INSIDER TRADING AND FINANCIAL TERRORISM ON COMEX http://hf-implode.com/viewnews/2014-07-20_INSIDERTRADINGANDFINANCIALTERRORISMONCOMEX.html the price of gold is not determined in markets where physical gold is bought and sold but in the paper futures market where contracts trade and speculators place bets on the price of gold. Most of the contracts traded on the Comex futures market are settled in cash. The value of the contracts used to short gold and drive down the price is well in excess of the actual amount of physical gold that is kept on the Comex and available for delivery. One might think that regulators would pay attention to a market in which the value of contracts outstanding exceeds by several multiples the amount of physical gold available for delivery. ]]> iehi-feed-54419 Sat, 19 Jul 2014 17:01:44 GMT Rickards: Stock market reality check http://hf-implode.com/viewnews/2014-07-19_RickardsStockmarketrealitycheck.html iehi-feed-54418 Sat, 19 Jul 2014 16:58:49 GMT Perfect Pilfering: A detailed exposé on how the market is rigged from a data-centric approach http://hf-implode.com/viewnews/2014-07-19_PerfectPilferingAdetailedexposonhowthemarketisriggedfromadatacen.html iehi-feed-54417 Sat, 19 Jul 2014 16:51:52 GMT Alasdair Macleod: BIS is in hard money camp; Fed not really "tapering" http://hf-implode.com/viewnews/2014-07-19_AlasdairMacleodBISisinhardmoneycampFednotreallytapering.html iehi-feed-54416 Sat, 19 Jul 2014 15:38:52 GMT Up next: A double whammy of high unemployment and inflation http://hf-implode.com/viewnews/2014-07-19_UpnextAdoublewhammyofhighunemploymentandinflation.html iehi-feed-54415 Sat, 19 Jul 2014 15:31:01 GMT Exclusive: SEC targets 10 firms in high frequency trading probe - SEC documents http://hf-implode.com/viewnews/2014-07-19_ExclusiveSECtargets10firmsinhighfrequencytradingprobeSECdocument.html iehi-feed-54413 Fri, 18 Jul 2014 14:30:41 GMT CME looks to bid for London gold price solution, after claiming silver http://hf-implode.com/viewnews/2014-07-18_CMElookstobidforLondongoldpricesolutionafterclaimingsilver.html iehi-feed-54411 Fri, 18 Jul 2014 13:57:30 GMT Barclays, Deutsche Bank Face U.S. Senate Hearing On Leverage http://hf-implode.com/viewnews/2014-07-18_BarclaysDeutscheBankFaceUSSenateHearingOnLeverage.html Barclays Plc (BARC) and Deutsche Bank AG (DBK) face scrutiny over their sale of products to a hedge-fund firm that allowed it to skirt borrowing limits and avoid taxes, according to people with knowledge of the matter... The investigation is another blow for Antony Jenkins, chief executive officer of London-based Barclays, as he seeks to restore the firm's reputation after it became the first lender to be fined for rigging Libor. For Deutsche Bank, the hearing comes less than four years after the Frankfurt-based lender paid $554 million to avoid unrelated U.S. criminal charges involving the sale of tax shelters.

...

Next week's hearing will focus on a series of transactions known as barrier options between the banks and Renaissance, the East Setauket, New York-based hedge-fund manager founded by billionaire James H. Simons, the people said. The tax benefits allegedly generated by the options are the subject of a dispute between Renaissance and the Internal Revenue Service, the people said. Bloomberg News reported on the transactions last year.

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