Word: nasdaq
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Apple Inc. (NASDAQ: AAPL) just delivered some startling news, which is actually not startling if you have been following the stories about the health of CEO Steve Jobs. Because of health issues, Steve Jobs is taking a medical leave...
...methods and motives remain cryptic, but the carnage unleashed by Bernard Madoff is beginning to be revealed: in a New York City federal court, where the former Nasdaq chairman stands accused of masterminding a $50 billion Ponzi scheme; in congressional hearings; and in the Manhattan office of a French financier who killed himself after Madoff bilked him and his clients out of more than $1 billion...
...billion Ponzi scheme allegedly masterminded by former Nasdaq chairman Bernard Madoff punctuated a miserable year for Wall Street in the worst possible way: by underlining, yet again, that savvy market-makers can harness arcane financial instruments as weapons of mass destruction. Left in Madoff's wake are bankrupt investors, mortified regulators and a raft of unnoticed red flags. Madoff's methods previously had been investigated by the SEC, and in 2001, a prescient article raised questions about his inscrutable strategies: "Madoff's investors rave about his performance - even though they don't understand how he does it," wrote Barron...
Bernard Madoff, the former Nasdaq chairman who was charged on Thursday with massive fraud, was long considered to be quirky. Employees at the offices of his eponymously named brokerage firm in midtown Manhattan's Lipstick Building had to follow strict rules for what they kept on their desk. Family photos were allowed but only if they were displayed in a simple black frame...
...firm, which he started five decades ago with money he earned as a lifeguard in Far Rockaway, Queens, was for a long time primarily in the business of acting as a middle man between buyers and sellers of stocks. It is an essential function for a market like the Nasdaq, which doesn't have an actual trading floor where buyers and sellers can meet face-to-face. Madoff's firm was a major driver behind the growth of the Nasdaq, creating a system that courted brokers who had mostly traded stocks on the larger New York Stock Exchange...