The European Commission (EC) has been accused of trying to bury a recent report detailing the exact role played by hedge funds in the Greek debt crisis and the damage inflicted by credit default swaps (CDS).
HSBC ignored warning signs related to Madoff fraud, lawsuit claims (Fund News)
According to a US lawsuit launched against HSBC, the bank continued to act for funds that fed money into Bernard Madoff??s Ponzi scheme in spite of repeated warning from the bank??s own executives and outside auditors about the ??baffling? and potentially fraudulent structure of the fund.
Greenlight Capital shows small loss in November (Fund News)
The Wall Street Journal reports that Greenlight Capital, run by David Einhorn, had a small loss in November, according to the investment results of Greenlight Capital Re (GLRE), a reinsurer that invests its premiums with the hedge fund manager.
European Parliament votes for new hedge fund rules (Headlines)
Members of the European Parliament have voted 513 to 92 in favour of new rules that will regulate hedge funds and private equity funds on a pan-European basis for the first time.