JPMorgan Chase said forth-quarter profit fell 34% after the firm posted a $1.3 billion write-down on subprime mortgages.
Despite a troubled economy, the hedge fund industry attracted a record $194.5 billion in new investor capital in 2007.
The number of mortgage applications filed increased by 28.4% for the week ended Jan. 11.
“The NAIC investigated itself with an attorney who used to work for the insurers,” said the Life Insurance Settlement Assoc. chief.
U.S. consumer prices rose 0.3% in December of 2007, followoing an 0.8% bump in November, the largest of 2007.
Outgoing Rep. Richard Baker, R-La., will be the new president and chief executive of the Managed Funds Association.
Producer prices were up 6.3% in 2007, the largest full-calendar-year rise since 7.1% in 1981.
Ex-Fed chief Alan Greenspan’s guidance will be exclusive during his tenure at Paulson & Co.
Doug Townsend has been the vice president and controller of both entities since January 2004.
Dalbar Inc., a financial services market research firm, has tapped an ex-insurance executive to start a division catering to the needs of compliance departments.
