Unemployment Up, Madoff's Victim List Grows

cityfile · 12/24/08 06:23AM

• The number of workers filing new claims for jobless benefits jumped by 30,000 to a 26-year peak last week. [Reuters]
• AmEx and CIT will get $5.72 billion in bailout money. [Reuters]
• Doubts about Bernie Madoff now appear to date back several decades. [WSJ]
• Liliane Bettencourt, the world's wealthiest woman, is believed to have invested in Bernie Madoff via Thierry Magon de La Villehuchet, the money manager who committed suicide at his office yesterday. [Bloomberg, NYT]
Steve Feinberg's Cerberus, which has suffered several losing months, is now limiting investor redemptions. [Bloomberg]
• Execs at Old Lane, the hedge fund operated by Vikram Pandit before it was acquired by Citigroup, may be leaving the bank to start a new company. [WSJ]
• Hedge funder Larry Robbins is cutting compensation and staff. [NYP]

Larry Robbins

cityfile · 01/30/08 01:26PM

A former trader at Leon Cooperman's Omega Advisors, Robbins is head of the hedge fund Glenview Capital Management, which has $7 billion under management. According to Trader Monthly, he took home $300-$350 million in 2007.