Bloomberg

Bloomberg
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MUTUAL FUNDS SEP 19, 2008
Reserve Management freezes funds

The Reserve Management Co. Inc. won’t accept new investors in any of its group of money market funds, the firm said yesterday.

MUTUAL FUNDS SEP 19, 2008
Bold government rescue steps buoy markets

U.S. markets are poised to open sharply higher this morning after top government officials from the administration and Congress announced a several actions last night intended fight the mounting financial crisis, according to published reports.

MUTUAL FUNDS SEP 19, 2008
Bankers riled by backing for money markets

Say government $50 billion backstop makes funds more attractive — and makes it tougher for banks to attract deposits.

RIA NEWS SEP 19, 2008
Paulson unveils massive plan to buy bad debt

Adding to sweeping government actions announced to alleviate the financial crisis, Treasury Secretary Henry Paulson Jr. this morning proposed new measures aimed at buying bad mortgages and distressed debt.

MUTUAL FUNDS SEP 19, 2008
Treasury to protect money market funds

The Department of the Treasury announced today that for the next year, it will insure the holdings of any publicly offered eligible money market mutual fund that pays a fee to participate in the program.

ALTERNATIVES SEP 18, 2008
Cox to hedge funds: Reveal short positions

Hedge funds and other large investors would have to disclose their short positions under an emergency rule asked for by Securities and Exchange Commission Chairman Christopher Cox.

MUTUAL FUNDS SEP 18, 2008
BNY Mellon cash reserves fund ‘breaks buck’

The BNY Mellon’s $22 billion Institutional Cash Reserves fund (ICRF) “broke the buck,” falling in value to $0.991 per share on Sept. 16, Bloomberg reported today.

LIFE INSURANCE AND ANNUITIES SEP 18, 2008
Federal insurance bill stalls in House

Legislation that would set up the Office of Insurance Information within the Department of the Treasury has stalled in the House.

ALTERNATIVES SEP 18, 2008
Hedge funds clipped amid volatile markets

The rocky financial markets of 2008 have taken a toll on hedge funds, with liquidations up and new fund launches down, according to the latest data from HFR Group LLC in Chicago.

ALTERNATIVES SEP 18, 2008
U.S. hedge funds blast U.K. short-selling ban

A ban on the short-sale of financial stocks put into effect today by Britain’s Financial Services Authority today was criticized by the U.S. trade group that represents hedge funds.