Word: cashes
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...huge scale and complexity of Kerviel's fraud has strong echoes of Nick Leeson, a young rogue British trader in Singapore. Leeson bankrupted the 230-year-old Barings Bank in 1995, after losing $1.38 billion in fictitious trades on Asian futures markets, single-handedly wiping out Barings' cash reserves. Leeson was jailed for more than three years in Singapore, and the scandal became almost synonymous with the power of a lone employee to unravel a large company. At the time, officials at various banks said they were tightening internal security measures in order to avert a similar disaster...
...have his blog reappear on the Internet almost immediately by using proxy servers and mirror sites outside China. But Zhou's luck ran out when he traveled to Shenyang to interview victims of a pyramid scheme involving a supposed aphrodisiac powder made from crushed ants. Victims handed over cash and were told they would get a guaranteed 30% annual return if they kept supplying the ants. Eventually, the scheme collapsed and hundreds of defrauded investors demonstrated repeatedly outside local government headquarters. After talking with some of the duped investors, Zhou was picked up by police...
...recognizable hits. John Stewart, the former Kingston Trio member who wrote it, may not have been as well known, but he was a cult figure among peers. Stewart made 40 solo albums, traveled as a performer with Robert Kennedy's 1968 campaign and wrote hits for Joan Baez, Rosanne Cash and others. His masterpiece, though, was a collection of narrative gems inspired by trips around the country with his father. Among the 200 best albums of all time, according to Rolling Stone, 1969's California Bloodlines helped define the country-folk-rock genre Americana. Stewart was 68 and died...
YOUR INVESTMENTS: Prepare a shopping list. January's stock swoon may have been unsettling, but it's no reason for panic. "Someone walked up to me and asked if he should put everything in cash," says Nicholas Nicolette, principal at Sterling Financial Planning. "That was an emotional reaction." Instead, use this time to cherry-pick overlooked, undervalued stocks. "For the well-prepared investors, these down moves provide opportunities," says Jeffrey Saut, chief investment strategist at Raymond James Financial. Just make sure to go bargain-shopping within the confines of a calm-headed, long-term strategy...
...Like all the best drug yarns, Hashish has a whiff of incredibility without being any less enjoyable for it. The schema is plausible enough. Failure to sell 300 tons of trocas (or sea-snail shells), which De Monfreid had fished from the reefs of Eritrea, leaves him desperate for cash. One night, he overhears a midshipman talk about the lucrative market for hashish in Egypt, and De Monfreid resolves to head for Greece - where the "bringer of dreams" was cultivated and packaged for sale - then grease some palms and have 1,300 lbs. (600 kg) shipped to Djibouti, whence...