Thanks, Mom and Dad. According to this BusinessWeek article, the number of MBA students turning to their parents for school expenses hit 40% last year - more than double in 2003.
The trend is attributed to spiraling education costs, an uptick in younger grad school students, paired with lingering effects of the economic downturn and tighter lending standards, and is most pronounced in younger Asian and European students.
Whistle-blowers get sweet financial incentive to turn in wrong doers to the SEC. [NY Times]
The number of public pension plans investing in hedge funds jumps 50%. [WSJ]
Standard Chartered may seek an exit from its South Korean unit. [Reuters]
FINRA fined Credit Suisse $4.5 million and Merrill Lynch $3 million for misleading investors about mortgage-backed securities. [DealBook]
BofA and Morgan Stanley will pay $22.4 million to resolve federal allegations they improperly foreclosed on active-duty soldiers.[Bloomberg]
Indonesia is fast becoming a darling of financial markets, but so does too the focus on growth-restricting flaws. [NY Times]
Intrade founder John Delaney, 42, died while climbing Mt. Everest.[NY Times]