Paul Singer’s Elliot Capital Management seized a training ship owned by the Argentinean navy after the hedge fund won a court decision ruling that the South American nation still owes on a 2001 bond offering.
The European Stability Mechanism may guarantee the first 20 to 30 percent of potential losses on new Spanish debt, according to Reuters. The plan would be aimed at saving Spain without depleting Europe’s rescue funds.
Protestors will attempt to surround the New York Stock Exchange on the one-year anniversary of the Occupy Wall Street movement, according to Reuters. Looking to meet up with some like-minded people? Want to know which intersections to avoid? Go here, for the tactical map.
The Winklevoss twins are disrupting the sell Read More
Blanked: About 14 percent of investment bankers received no bonus last year, more than double the number in 2010, according to a report from the executive-search firm Options Group. Top earners saw more of their compensation deferred, with about 80 percent of total comp pushed back for bankers paid $3 million or more, compared with Read More
It’s bad enough to have U.S. attorneys poking around your anti-money laundering unit, worse still when those pesky reporters get hold of the documents. That’s the spot HSBC finds itself in this morning, after Reuters put out a massive story on the state of affairs at the British lender’s U.S. bank.
The short-story: Reuters got hold of a draft letter from U.S. attorney William J. Ihlenfeld II to justice department officials alleging HSBC had created an anti-money laundering operation that was a “systemically flawed sham paper-product designed solely to make it appear that the Bank has complied.”