Word: bankes
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Dates: during 2000-2009
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...largest corruption stings in New Jersey's malodorous history. The FBI did what cops normally do when they catch a thief in the act and don't think he's acting alone - they make him an informant. The informant in this case was a failed developer turned bank-fraud artist named Solomon Dwek, who then hung out his shingle as a bankruptcy fraudster who would launder money or buy off politicians for a small fee. The feds threw Dwek in the water like chum and waited to see what else they could catch. (Read a 1973 TIME article on corruption...
...Brooklyn and laundering the money through a charity at his synagogue in Deal, N.J., on behalf of unknown persons in Israel. And as for petty officials of the Garden State - building inspectors, councilmen, deputy mayors and the like - you could imagine the FBI's relatively small office in Red Bank, N.J. frantically trying to arrange all the necessary surveillance to collect the evidence flooding in like the Navasink River at high tide. ("Hello, Radio Shack, I need 100 tape recorders. Yes, today.") In Thursday's big bust, more than 300 FBI agents were needed to make all the raids...
Citigroup and Bank of America will set up the line of credit for the next year, Bloomberg said. In a report published last April, credit ratings agency Moody's Investors Service said the previous line of credit was funded by a consortium of banks, but it is unclear whether Citigroup and Bank of America participated. Spokesmen from Bank of America and Citigroup declined to comment...
...proceed with a residential project in the Sheikh Jarrah neighborhood in East Jerusalem, noting that the U.S. views such construction in the same light as settlement expansion. But while the Netanyahu government may be willing to dismantle some of the settlement outposts built without permission in the West Bank (they're usually rebuilt by settlers within days), the Prime Minister made clear on Sunday that "Israel will not agree to edicts of this kind in East Jerusalem...
...Much of the concern is focused on China, where government stimulus efforts have been large and effective. Money in China has been especially easy to find. Aggregate new bank lending surged 201% in the first half of 2009 from the same period a year earlier, to nearly $1.1 trillion. Exuberance over a quick recovery - which was given a boost by China's surprisingly strong 7.9% GDP growth in the second quarter - has buoyed investor sentiment not just for stocks but also for real estate. According to government data, new home prices in 36 Chinese cities rose 6.3% in June from...