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.
“The last six months ... have made abundantly clear that voluntary regulation doesn’t work,” Mr. Cox said in prepared testimony at a hearing of the Senate Banking Committee.
The bond ratings agency said it has “sufficient” cash and government securities to fund potential termination payments related to guaranteed insurance contracts even if the notes issued by its MBIA Insurance Corp. unit are downgraded.
Checklists don’t have to be complicated, but each client must have one that’s customized just for them.
Baltimore-based Legg Mason is weighing a privatization move that could include one or two private-equity investors, with Kohlberg Kravis Roberts & Co. being one of the interested parties, the New York Post reported.
The Department of the Treasury’s plan to back money market funds will include both taxable and tax-exempt funds.
Redemptions from U.S. money market mutual funds declined on Friday, with investors pulling out $5.2 billion compared to $47.7 billion the day before, according to the Westborough, Mass.-based research firm iMoneyNet.
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.
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.
A suit filed by Ameriprise alleges that The Reserve gave special treatment to its largest clients just as the Primary Fund was losing value and about to “break the buck,” or dip below $1 per share.
