John Paulson owns 2 per cent stake in BofA (Fund News)
John Paulson, who made billions of dollars with his hedge fund Paulson & Co. betting against subprime mortgages and shorting bank stocks during the past two years, has bought close to 2 per cent of Bank of America.
The Federal Reserve plans to slow the pace of its purchases of U.S. Treasuries as the recession eases, and signaled that the $300bn program will end in October.
Ex-Madoff finance chief Frank DiPascali pleads guilty (Headlines)
Frank DiPascali, the finance chief at Bernard Madoffâ??s investment advisory business, pleaded guilty to helping his boss carry out a $65bn Ponzi scheme and is helping prosecutors build cases against his accomplices.