Bloomberg

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RIA NEWS SEP 26, 2008
GDP grows at sluggish rate

In a sign that the economy is growing at a slower pace than first thought, the growth of the U.S. gross domestic product was revised downward to a final reading of 2.8% for the second quarter, according to data from the Department of Commerce.

EQUITIES SEP 26, 2008
Financial intermediaries drawn to equity funds

Despite the volatility of the markets in recent weeks, nearly a third of financial intermediaries are choosing to invest more in equity funds, according to a new survey.

FINTECH SEP 26, 2008
Don't blame technology

Where was all of Wall Street’s expensive, supposedly advanced technology when we needed it? Shouldn’t technology have helped to avert the current economic and financial mess?

RIA NEWS SEP 26, 2008
WaMu buy gives JPM 15% of bank-broker market

Accounting for roughly 10% of the nation’s retail-securities business done at banks, JPMorgan Chase & Co. is set to become even more dominant in that segment once it completes its $1.9 billion takeover of Washington Mutual Inc.

MUTUAL FUNDS SEP 25, 2008
Federated buys Putnam fund's investments

Under the agreement, the Putnam fund purchased shares in Federated fund with cash and portfolio securities valued at $12.3 billion, said Putnam spokeswoman Laura McNamara.

LIFE INSURANCE AND ANNUITIES SEP 25, 2008
ABIA selects roster of officers

Thirteen banking and insurance executives have been selected to join the Washington-based trade association’s board.

RIA NEWS SEP 25, 2008
NFP warns investors of revenue drop

National Financial Partners Corp. warned investors that its total revenue took a dive during the third quarter.

RETIREMENT PLANNING SEP 25, 2008
Comprehensive IRA database planned

The Investment Company Institute and the Securities Industry and Financial Markets Association are launching a new research project to improve understanding of investors' use of individual retirement accounts.

RIA NEWS SEP 25, 2008
Jobless claims at seven-year high

New jobless claims rose to their highest point in seven years due to the weakening economy and the recent hurricane season, according to a report released today by the Department of Labor.

ALTERNATIVES SEP 25, 2008
Hedge fund manager convicted of fraud

The head of Lancer Management Group LLC and Lancer Management Group II LLC has been found guilty of overstating the hedge funds’ valuations, manipulating the prices of seven securities and falsely representing the funds’ holdings in newsletters.