Word: fraud
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...Enron’s collapse. While Congress is busy focusing on the accounting industry, the rest of the business world is closely watching the efforts of New York Attorney General Eliot Spitzer, a 1984 graduate of Harvard Law Sschool, who is investigating the stock analysts on Wall Street for fraud. Unlike companies that, however foolishly, want to merge in order to grow, the analysts on Wall Street have been consciously deceiving the public for years. Spitzer’s investigation, and the dirt he has dug up on prominent analysts like Jack Grubman of Salomon Smith Barney and Henry Blodget...
...case for Wall Street analysts and bankers, since those firms are less exposed and can always cry caveat emptor, effectively saying that investors must take responsibility for their own losses. On that note, they have a point, but the presumed skepticism of his readers does not excuse Blodget of fraud in publicly praising stocks that he privately felt unworthy. Whatever the outcome of the ongoing investigations, the reforms that they are likely to generate will be far better for the public than any of the blocked mergers were during the Clinton administration. Breaking up companies whose divisions have divergent self...
...Sept. 11 attacks, it was inevitable that some undeserving tricksters would exploit the system. The Manhattan district attorney's office has thus far charged 76 people with fraudulently seeking aid and taking part in other schemes related to 9/11 assistance. But sources tell TIME the post-9/11 fraud isn't limited to just phony victims. A former worker at one of the disaster-assistance centers in Manhattan says some employees of the Federal Emergency Management Agency and the New York City-based charity Safe Horizon have been cheating the system and even swindling some applicants out of money...
...charged one Safe Horizon worker with stealing blank checks from the charity, and Safe Horizon says it has reported another employee to the D.A. for unspecified offenses. Sources tell TIME that at least one FEMA interpreter is under investigation. FEMA spokesman John Czwartacki confirms that the agency has referred fraud cases to the D.A. but would not comment on whether FEMA employees were involved. The extent and variety of the schemes FEMA has seen, Czwartacki says, "boggles the mind." --By Rebecca Winters. Reported by Victoria Balfour
...with electroshock machine fun and games; month-long family/patient sleep-overs on the front lawn; a physician-assisted fake suicide attempt to get excused from school forever; a pedophile living in the barn; Lithium, Valium, and Halcyon eaten like candy, and much more." The therapist was later arrested for fraud. Former TIME writer Kurt Andersen blurbs the book enthusiastically. "I was reminded of Roald Dahl's 'Boy' and 'A Heartbreaking Work of Staggering Genius'...Burroughs has produced a memoir that's funny and sharp but also humane, as charming as it is revealing." The publicist for this book optimistically predicts...