Word: courting
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...Attorney's office has filed 11 counts against Madoff for his part in a decades-long Ponzi scheme, now estimated in court documents to amount to $64.8 billion, considered the largest in history. In fact, the new dollar amount cited in a Justice Department communication to Sorkin tallies the total size of the fraud, which dates back to the 1980s, at $170 billion, which includes money invested with Madoff, interest earned and payouts to investors as well as the value of things he bought for himself, like a yacht. "The charges reflect an extraordinary array of crimes committed by Bernard...
Although a plea deal was widely anticipated, one was never reached, according to U.S. Attorney papers filed with the court. The government apparently never offered a plea deal, or one fell apart...
...will plead guilty" at the hearing on Thursday. "That's a reasonable expectation," Sorkin replied. The judge then said he would decide at the hearing whether to accept the plea and whether to remand Madoff to jail pending sentencing in several months, setting the stage for Madoff's climactic court appearance...
...Court in lower Manhattan is bracing itself for a large crowd of Madoff victims to witness Thursday's hearing firsthand. The court is preparing two additional overflow courtrooms with television monitors and additional guards to accommodate up to 300 people, according to the judge's spokesperson. (See the top 10 scandals...
...Which is probably why President Barack Obama has gone out of his way to court these moderates, whose votes he desperately needs to pass the biggest bill yet: his $3.6 trillion 2010 budget resolution. Ever since the President laid out the broad outlines of his ambitious budget, moderate Democrats like Indiana Senator Evan Bayh and Tennessee Representative Jim Cooper have been struggling with how to embrace such a large budget on top of all the money that has already been spent; those who are up for re-election next year may be particularly inclined to vote against the budget because...