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...been steering some of its private-banking clients into Bernard Madoff's Ponzi machine through its Geneva-based Optimal hedge funds. It moved fast to make good, offering to repay 100% of the sums invested. Santander says 94% of its Madoff victims have accepted, costing the bank $648 million at current exchange rates. It also returned $235 million to the Madoff estate in a settlement of claw-back claims with U.S. trustee Irving Picard...
...This article originally stated that the Bernard Madoff scandal cost Santander $648 billion at current exchange rates. It was $648 million...
Kudos to Bernanke for blunting the recession both in the U.S. and around the world. Critics are a dime a dozen, but the Fed chairman's visionary innovation is worth a million times his weight in gold. Innovation such as this is the only path out of our current economic slump...
That lack of conclusive data hasn't deterred the nascent neurobics market. Sales are expected to jump from $265 million to up to $5 billion by 2015, according to a May report from market-research firm SharpBrains, which will sponsor the industry's first conference, set to begin Jan. 18. (Watch TIME's video about exercising with a hula hoop...
...East Los Angeles to the Arizona and Nevada borders. Starting in the 1970s, that area, now known as the Inland Empire, became a mecca for a new kind of homesteader: young families lured by cheap land and an easy commute to L.A. By 2008, it was home to 4.1 million people and one of the fastest-growing regions in the country...