Money Management Executive Latest News

As the tax debate begins between Senator Barack Obama and Senator John McCain, many investors and tax advisors say capital gains taxes will increase no matter what the outcome is this coming November, The Wall Street Journal reports. Senator Obama seeks to increase the current capital gains rate 5% or more for families making over $250,000.

Morgan Stanley, releasing its 2nd quarter earnings Wednesday, reported a 60% drop in profit from $2.57 billon, or $2.45 a share, in the second quarter of 2007, to $1.01 billion, or 95 cents a share. Net revenue also fell a substantial 38% from $10.52 billion to $6.51 billion.

Claymore Securities Inc., an exchange-traded fund provider, has launched the Claymore/BNY Mellon Frontier Markets Exchange Traded Fund.

Boston-based Eaton Vance Management has just received a no-action letter from the SEC that will permit it to provide a new auction-rate security known as Liquidity Protected Preferred Shares, The Wall Street Journal reports.

In a similar way that the dot-com boom could serve as a snapshot for the 1990s, the last decade could easily be defined as a period where many Wall Street insiders daringly quit their jobs in exchange for presumptive hedge fund glory, The Wall Street Journal reports.

Speaker of the House Nancy Pelosi earned a government salary of $212,100 last year, which made her the highest paid official in Congress by $47,000, according to the Associated Press.Not too shabby for civic duty.However, when one also considers the combined incomes of spouses, other investments, and overall assets, things suddenly become financially astronomical.

The family of deceased Circle T Partners hedge fund manager and frequent CNBC guest Seth Tobias is said to be near a settlement regarding his $25 million estate. Since 44-year-old Tobias’s mysterious death last September, his family and his wife, Filomena Tobias, have been disputing the circumstances of his death and the outcome of his estate.

In pursuit of new investments, developed countries are turning their focus towards the booming economies of frontier nations, The Wall Street Journal reports. Fast-developing countries throughout Africa, Central and Eastern Europe and the Middle East are averaging annual growth rates five times that of developed nations.

Approximately 78 million working Americans are currently working jobs that do not provide them with a retirement plan; however, Barack Obama is looking to change this predicament, according to a report by CNNMoney.com.

As JPMorgan Chase begins to remove the Bear Stearns name from its buildings, the firm is taking the opportunity to enhance its own brand identity, The New York Times writes.