Word: funded
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...thing that should have raised suspicions is that the bank's review of its own investments caused it to pull $250 million from a Madoff feeder fund, Fairfield Greenwich, just months before Madoff was arrested. Chase took this action because it became "concerned about the lack of transparency," and its due diligence "raised doubts" about Madoff's operation...
Robert Chew is a former investor with Madoff via a feeder fund. He lives in Colorado...
...environmentalists, the Valdez is still a looming reminder that oil will always threaten the vulnerable marine environment - and that a single mistake can have ramifications that last for decades. "If it's lost, it's lost forever," says Margaret Williams, the Alaska director for the World Wildlife Fund (WWF), which is calling for Bristol Bay and other parts of the Arctic to be made "no-go zones" for oil and gas development. "There are lessons to be learned from the Exxon Valdez, but they're not being learned well." (See pictures of the fragile earth...
...state is forcing utility companies to provide 20% of their output by way of solar power and other forms of renewable energy by 2010. Last November, Governor Arnold Schwarzenegger said he wanted the portion to be one-third by 2020. Now the feds are bringing the money to help fund all this sunny energy, with the Obama Administration's stimulus package promising to pay for 30% of solar-power projects that begin...
...Little wonder. Even before the financial crisis hit last year, Hungary had one of the largest budget deficits in the E.U. Since last September, things have grown progressively worse. Not only has Hungary needed the life support of a US $25.1 billion credit line from the International Monetary Fund, its currency has been in free fall. Since the beginning of this year, the Hungarian Forint has slid 19% against the U.S. dollar, and 13% against the Euro. The government now predicts the economy could shrink by 3% this year, a modest estimate compared to the 7.5% drop predicted by some...