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Take Stephen Walsh and Paul Greenwood, operators of Westridge Capital Management's $1.3 billion in assets, who last week were charged by the Commodity Futures Trading Commission (CFTC) with allegedly "misappropriating" at least $553 million either for personal expenses or to cover trading losses. The CFTC is the sister agency of the Securities and Exchange Commission and covers fraud in the commodities, futures and foreign-exchange markets. (See pictures of the demise of Bernard Madoff...
...earnings and assets. That seems a long way off. And, it is, but the length of this stagnation depends on the violence and rapidity of the correction. The market is going down, probably much further. It can get there at a trot or a gallop. The process, in either case, will be remarkably painful. One just dispenses the punishment in slow motion...
...casinos in the bad old good old days - just call it whorehouse red. But it works here, with the brilliant red chandeliers, the whole effect muted a bit by judicious use of off-white fabric. The other delicate touches are cast, oddly enough, by natural light streaming in from either end of the casino floor. And not only through windows - the main entrance to the Encore casino takes you through a lush, plant-and-tree-filled atrium over three stories tall. There's a certain amount of whimsy at play here too: for instance, the brightly colored butterflies inlaid into...
...precipitously lose public support. In this case, Obama's margin for error is minuscule, given the enormity of the economic crisis. He simply can't get bogged down in Afghanistan. And he simply can't allow al-Qaeda and the Taliban free rein. And every option in between seems either a gamble or a fantasy...
...Some groups, including the World Food Program and Catholic Relief Services, were allowed to continue operating. Still, several of the organizations were the only ones providing their particular services - MSF and the IRC, for example, were the sole providers of medical services in the Kalma, and their clinics will either be closed or run by internally displaced people with minimal training...