Word: bankrupts
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Dates: during 2000-2009
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Allowing individuals to invest their savings in real growth opportunities is the best path to financial security. The government cannot guarantee a 3% return over inflation. And we already have a national pension system called Social Security, which is going bankrupt. All pension plans, regardless of the form, depend on real economic growth. You would better serve your readers by educating them to these realities rather than indoctrinating them with the obfuscations of self-serving Democratic politicians. There are real solutions out there. Time should uncover and report them. Thomas Maskell, POLAND, OHIO...
...billion Ponzi scheme allegedly masterminded by former Nasdaq chairman Bernard Madoff punctuated a miserable year for Wall Street in the worst possible way: by underlining, yet again, that savvy market-makers can harness arcane financial instruments as weapons of mass destruction. Left in Madoff's wake are bankrupt investors, mortified regulators and a raft of unnoticed red flags. Madoff's methods previously had been investigated by the SEC, and in 2001, a prescient article raised questions about his inscrutable strategies: "Madoff's investors rave about his performance - even though they don't understand how he does it," wrote Barron...
...suit, Madoff told a senior executive that there had been requests from clients for $7 billion in redemptions. On Wednesday, Madoff met with his two sons to tell them the advisory business was a fraud - "a giant Ponzi scheme," he reportedly told them - and was nearly bankrupt. The sons reportedly contacted their lawyer, who then alerted federal authorities to the fraud. Before being caught, Madoff was working on a scheme to dole out his funds' remaining $300 million to the firm's employees and his family members...
What's a little Senate seat bribery between friends? Sure, Illinois governor Rod Blagojevich is accused of trying to profit from the sale of President-elect Obama's newly vacant Senate seat. And he may have allegedly tried to force the newly bankrupt Tribune Co. to fire editorial staff members who were critical of him. And it's possible he traded favors for campaign contributions. But this is Illinois; as Robert Grant, the special agent in charge of the FBI's Chicago field office, told the press at the announcement of the indictment, "if it isn't the most corrupt...
...Intense opposition from ordinary union members also delayed for several months a settlement with the bankrupt Delphi Corp., the component maker spun off by GM. The tussle with the union contributed significantly to Delphi's inability to put together a plan to emerge from bankruptcy ahead of the credit crunch...