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...years ago Bob Slezak, the former chief financial officer of brokerage TD Ameritrade, finished 15th in the Main Event and a year earlier hedge-fund operator David Einhorn placed 18th. Bill Chen, an arbitrage expert at options-trading firm Susquehanna International Group, has won a couple of big-money tournaments and has been cited in at least one book for his "Chen formula" for winning at Texas Hold 'Em. Don't ask; Google it. (Read "What's Still Wrong with Wall Street...
...such a tough environment to play in. Now a number of folks say "Well, look, Google gave them $900 million in an ad deal for something they only paid $580 million for. How can that be bad?" And the answer to that is: Given that Fox Interactive Media group, of which MySpace is a part, actually lost money this year even after the short-term Google ad-deal windfall, $580 million doesn't seem like such a bargain. (See the top 10 financial-crisis buzzwords...
Still, as much as issues like questionably advertised auctions and life-settlement deals may vex Madoff victims, going after such bottom feeders is low on their list of priorities. The auction ads "are a sad commentary," says Ronnie Sue Ambrosino, a Madoff victims' group leader in Arizona. "But we have much bigger fish...
...Ilene Kent, a Madoff investor in New York City who now coordinates a victims' group called the Network for Investor Action and Protection, says Southern Star's advertising "seems deceptive at best" and makes her "feel like we're being used to lure people into auctions for this guy. If so, that really just adds insult to our injury." While Southern Star says it's using the ads as a way to get more bidders out to help Madoff victims, Kent fears Abadi is "just appealing to morbid public curiosity about how the mighty have fallen. But it wasn...
...Custom Enforcement (ICE), which reportedly made the Fonseka request, refused to confirm or deny the allegation. ICE spokesman Brandon Alvarez-Montgomery said: "If there was an investigation, there's nothing we can provide. Especially in cases that are very sensitive under human-rights violations, until that person or group were fully investigated [we] would never comment." (See an interview with Sri Lanka's President...