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Financial News Roundup (Cadence Bank, Allen Stanford, John Paulson)

The parent company of Cadence Bank announced today the Federal Reserve has approved Cadence’s acquisition by a private equity company.

That deal will take Cadence private and infuse it with a lot of new, sorely needed capital.

Meanwhile, disgraced financial titan and former Stanford Financial namesake Allen Stanford is being moved to the same jail where Bernie Madoff lives.

And hedge fund king John Paulson has upped his stake in the parent company of First Tennessee, buying more than 136,000 shares of the company in the recent quarterly period.

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