Word: funding
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...CFTC filed a complaint against Mark S. Trimble of Edmond, Okla., and his company, Phidippides Capital Management, for running a private hedge fund alleged to be a $30 million Ponzi. Before that, Obie and his enforcement team filed an enforcement action against Charles E. Hays and his Crossfire Trading of Rosemount, Minn., charging fraud and misappropriation in connection with a $25 million Ponzi that affected 75 people...
...Oklahoma case, the CFTC's complaint alleges that, beginning in 2005, Phidippides Capital operated a $34 million hedge fund with approximately 60 investors. Since at least October 2007, the CFTC says, Trimble allegedly issued "false account statements, failed to disclose the fund's actual multimillion trading losses and operated the fund as a Ponzi scheme...
Last week, a special court ruled that parents of autistic children were not entitled to compensation from the National Vaccine Injury Compensation Fund. The ruling was in response to three cases, each of which involved parents who claimed that their children’s autism was brought on by the measles vaccine in the measles, mumps, and rubella immunization most children receive, or by the combination of the measles vaccine and thimerosal. Although we sympathize with parents of autistic children, we appreciate the court’s decision and hope that it will cause parents who are considering not immunizing...
...public-private investment fund” included in Treasury Secretary Timothy Geithner’s recent proposal. The potentially $1 trillion vehicle would aim to combine public and private capital to buy toxic assets from banks. Though widely criticized in its eight days of life, the fund may succeed in attracting private investors—but only if Geithner offers more specifics to incentivize private financing and subdue historic antagonism between private and public sectors, which is traditionally worse in times of crisis...
...because it lacked the “vigorous intellectual leadership” necessary to do so. Weak leadership did not overcome antagonism between the 10-year-old Fed and the New York Clearinghouse—a fate that could befall Geithner’s public-private fund today...