Sifma : News on the capital markets, securities and financial industry

• Other News

GE to settle investigation into rigging bids on muni bonds
Bloomberg (12/23)

Washington Roundup

SEC takes close look at hedge fund performance
The Securities and Exchange Commission is looking into dozens of hedge funds whose performance seems too good to be true. "There is serious fraud in this space, and we have been attacking it," said Bruce Karpati, co-chief of the SEC's asset-management enforcement unit. The Wall Street Journal(12/27)

SEC sides with Lehman in dispute with Barclays
Lehman Brothers Holdings won support from the Securities and Exchange Commission in its asset dispute with Barclays. The agency said Lehman doesn't have enough money to repay customers, and that Barclays has a conditional claim on money held in reserve. "The commission wishes to ensure that assets held in the special reserve bank account for the exclusive benefit of customers, as well as other assets required to be held for the benefit of customers, are properly administered in the event a broker-dealer is liquidated," the SEC said. Bloomberg(12/26)

Analysis: Economists question central banks' liquidity move
The European Central Bank, the Federal Reserve and several other central banks coordinated aid to European financial institutions this month. Some classical economists, however, question the effort. Barron's (subscription required)(12/24)

• Other News

Opinion: Quality of new rules appear to be at all-time lows
The Wall Street Journal (12/27)

Commentary: Fed's move might protect U.S. from crisis
The New York Times (tiered subscription model) (12/24)

Fed's Operation Twist seems to have helped investors
The Wall Street Journal (12/27)