Kohlberg Kravis Roberts posted a total investment loss of $1.1 billion for the six months ended June 30, down from a net gain of $3.4 billion in the first half of 2007, according to a prospectus filed with the SEC.
Massachusetts Secretary of the Commonwealth William F. Galvin today called on Congress to temporarily suspend the 10% penalty tax on early withdrawals from 401(k)s.
Confidence among global institutional investors continued to slump this month as increased market turmoil has caused investors to lose their appetite for risk, according to the State Street Investor Confidence Index.
Second-quarter variable annuity sales fell to $41.9 billion, down 11.2% from the comparable period last year, according to NAVA Inc.
The historic bailout may be as low as $100 billion to $200 billion, rather than the $700 billion being requested by the administration, House Financial Services Committee Chairman Barney Frank, D-Mass. said yesterday.
Your clients, who are ordinary investors, still hold substantial positions in Lehman Brothers and Fannie Mae stock in their portfolio and are wondering what they should do to claim a tax loss for the year.
Lawmakers must take steps stabilize a financial situation that could pose “very serious consequences” for the U.S. “financial markets and for our economy," said Fed chief Ben Bernanke.
Third Avenue Institutional International Value Fund LP, a fund of Third Avenue Management LLC, filed a class action Friday against Reserve Management Corp. hinging on the firm's redemption process last week, when the net asset value of the Reserve Primary Fund fell to 97 cents.
Barclays PLC won’t be “assuming the obligation” of traditional structured products and exchange traded notes issued by Lehman Brothers Holdings Inc., according to a source close to the situation.
Reserve Management Corp. New York filed with the SEC on Friday to suspend all redemptions from its Primary Fund and the U.S. Government Fund and postpone the date of payment of redemption proceeds for a period longer than seven days after the tender of shares for redemption.
