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Pearlstine Joins Bloomberg

Longtime Wall Street Journal and Time Inc. newshound Norman Pearlstine is leaving The Carlyle Group to fill a newly created position at Bloomberg LP, chief content officer.

Big Loss For MBIA In 1Q

US bond insurer MBIA Monday reported a first-quarter loss of $2.4 billion, or $13.03 a share, compared with net income of $198.6 million or $1.46, in the first quarter of 2007.

Moral Bankruptcy

As the economy slows, investigation of corporate malfeasance becomes a big business.

Fremont Mulls Chapter 11 Filing

Fremont General said Friday it may file for Chapter 11, a day after disclosing its intent to sell the rest of its mortgage services operations to Litton Loan Servicing, an affiliate of Goldman Sachs.

Pre-Packs Continue Their Resurgence

As the credit-market dislocation chugs on, one corner of the bankruptcy world is getting more attention: pre-packs.

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Articles

Moody's President Announces Retirement

Brian Clarkson will retire as president and chief operating officer of Moody's Investors Service in late July after 17 years with the rating agency.

Bear Holders Concede, Sort Of

The show must go on. Shareholders of Bear Stearns who were trying to block the embattled brokerage from joining with JPMorgan withdrew a request for a preliminary injunction to stop the deal last Wednesday.

...And Fannie

US housing agency Fannie Mae last Tuesday said it lost $2.2 billion in the first quarter, or $2.57 a share, and the government sponsored enterprise announced plans to raise $6 billion through the sale of common, convertible and non-convertible preferred stock.

Big 1Q Loss At UBS...

UBS posted an 11.5 billion Swiss franc ($10.95 billion) first-quarter loss related to its mortgage holdings, and also said it will cut 5,500 employees.

Senate Mulls I-Bank Regulation

Last week's Senate hearing on regulation of investment banks by the Securities and Exchange Commission will likely spark further discussion in coming months on how regulatory oversight of investment banks should be handled. Harvey Pitt, the former chairman of the SEC who is now CEO of consulting firm Kalorama Partners, tells IDD that SEC regulation has been effective up to this point, but he believes improvements can be made.

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