Newspaper wrap-up: Countrywide Financial investigated by the FBI
Posted Mar 10th 2008 8:00AM by Laurie Pasternack
Filed under: Newspapers, Magazines, MasterCard Inc'A' (MA), Countrywide Financial (CFC), BHP Billiton Ltd ADR (BHP), Rio Tinto plc ADS (RIO)
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MAJOR PAPERS:
- According to sources, the Wall Street Journal reported that Countrywide Financial Corporation (NYSE: CFC) is under investigation for possible securities fraud. People close to the situation say the inquiry is in its early stages but it involves an inquiry into alleged misrepresentations of the company's financial position and the quality of its mortgage loans.
- The Financial Times reported that Credit Suisse Group (NYSE: CS) has teamed up with three leading academics to create products that will deal with the potentially lucrative hedge fund replication industry. The upcoming suite of products will attempt to mechanically replicate the returns of the major hedge fund strategies.
OTHER PAPERS:
Tags: Ameriprise Financial, AmeripriseFinancial, AMP, BHP, BHP Billiton, BhpBilliton, CFC, Countrywide Financial, CountrywideFinancial, Credit Suisse, CreditSuisse, CS, hedge fund, HedgeFund, investigation, MA, MasterCard, Rio Tinto, RioTinto, RTP
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