Legislation that would boost the tax rate paid by many hedge fund and private equity fund managers was introduced in the U.S. House of Representatives by Democratic Rep. Sander Levin.
Following the G20 meeting in London, the OECD released a list with uncooperative jurisdictions that have not committed to the internationally agreed tax standard.
A judge froze the assets of Bernard Madoff's two sons and five executives who ran hedge fund portfolios that funneled money into his "managed accounts".
The Obama administration refused on Sunday night to give fresh bail-out money to General Motors and Chrysler, telling the carmakers to come up with new plans or risk insolvency.