Bloomberg

Bloomberg
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MUTUAL FUNDS SEP 26, 2008
Ameriprise resists bailout of subsidiary clients

Ameriprise Financial Inc. has no immediate plans to bail out clients of advisers of its independent broker-dealer subsidiary, Securities America Inc., which saw $60 million erased last week when a giant money market fund, the Reserve Primary Fund, “broke the buck."

EQUITIES SEP 26, 2008
BlackRock's Doll bullish on domestic equity

“Domestic equity has the highest predictability of earnings, and the lowest volatility. No other country comes close to the U.S. in terms of aggressiveness in monetary policy.”

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.

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 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.

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
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.

RIA NEWS SEP 25, 2008
Investors seek safe haven in gold

Investors scared away by shaky equity markets have been mining the gold market, but financial advisers are mixed as to whether the investments in the precious metal are a long-term play.