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Thursday, December 6, 2012

Reuters Money: After Sandy: Houseless, until the insurance money kicks in

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12/6/2012
Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between
After Sandy: Houseless, until the insurance money kicks in
NEW YORK (Reuters) - It took one day for Superstorm Sandy to destroy my house. So far, it's taken more than a month for insurance to help me get back in.
Hedge fund Diamondback to shutter after clients pulled more cash
BOSTON (Reuters) - Hedge fund Diamondback Capital, which became embroiled in the U.S. government's insider trading case, has told its clients that it plans to shut down after clients asked to pull out yet more money.
Jupiter fund manager Anthony Nutt to retire
LONDON (Reuters) - Anthony Nutt, one of Jupiter Fund Management's best-known money managers, is to hand over the running of his flagship funds ahead of his retirement in 2014.
Wall Street credibility helped FBI agent nab Martoma, others
NEW YORK (Reuters) - FBI Supervisory Special Agent Richard Jacobs once had to go undercover as a "corrupt" stock broker to help catch scammers on Wall Street making illegal profits by manipulating penny stocks.
Obama takes "fiscal-cliff" campaign to "middle-class"
WASHINGTON (Reuters) - President Barack Obama takes his "fiscal-cliff" campaign to the home of a family in Northern Virginia on Thursday to illustrate the impact of letting taxes go up on the middle class, as signs emerge that Republicans are contemplating a change in strategy in their battle with Democrats over deficit reduction.
Stern Advice: Retirees are doing better than you think
WASHINGTON (Reuters) - Contrary to what you may have heard, new retirees are doing better financially than previous generations, according to research being published on Wednesday by a mutual fund industry trade group.
"Black box" hedge funds buy exchange seats to dodge brokers
LONDON (Reuters) - Some of the world's top computer-driven hedge funds are buying exchange memberships to trade directly on the biggest commodities and financial futures markets, saving on the sizeable commissions normally paid to brokers.
Geithner: U.S. will go over fiscal cliff unless top tax rates rise
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Wednesday that the country would go over a year-end fiscal cliff of tax hikes and spending cuts, unless Republicans agreed to Democrat's demand to raise tax rates on the richest U.S. households.
Obama, Boehner talk; Geithner prepared to go off "cliff"
WASHINGTON (Reuters) - Republicans in Congress and President Barack Obama consumed much of Wednesday talking up their positions on the "fiscal cliff" and though Obama and Republican House Speaker John Boehner spoke by phone, neither side offered any new compromises in public.
Federal clampdown looming on reverse mortgages
CHICAGO (Reuters) - The federal government is proposing to make big changes to its reverse mortgage program early next year that should make the loans safer for seniors who use them to tap home equity.
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