Page 1296 


Ex-Credit Suisse CDO Chief Pleads Guilty


Kareem Serageldin, the ex-global head of Credit Suisse’s structured credit trading business, pleaded guilty to conspiracy, saying that when he discovered subordinates falsifying the value of mortgage-backed bonds in late 2007, he joined the scheme rather than stop it.

KPMG To Sue Former Partner Scott London


KPMG plans to take legal action against former partner Scott London, who has been accused of passing on inside information about clients to a golfing partner in exchange for cash, a Rolex watch, dinners and tickets to shows.



American flag

Wall Street turmoil could slow cooling IPO market

The stock market turmoil of the last five days, following weeks of broader declines that have left half of this year's newly listed stocks below their offering prices, could slow the already cooling U.S. market for initial public offerings.