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After Democratic financier Hassan Nemazee was accused of forging loan documents in order to borrow $74 million from Citibank, he wired the money back. A nice try, but not one that would stave off his arrest. Authorities arrested Nemazee on Aug. 25, shortly before he left on a European vacation. He was charged with bank fraud, released on a $25 million bond and placed under house arrest in his New York City apartment. Nemazee, who raised money for both Hillary Clinton and Barack Obama in the 2008 election, faces a prison sentence of up to 30 years...
...Bernanke's is in many ways an inspiring story, a financial overlord from Main Street rather than Wall Street, from the faculty lounge rather than the corridors of power, from the realm of pragmatism and analysis rather than partisanship and ideology. He was a nice Jewish boy from small-town South Carolina who had pursued a career of scholarship; before George W. Bush appointed him to the Federal Reserve Board in 2002, his only brush with politics had been a stint on his local school board. Before the markets went haywire, he was building a reputation...
This is the time of year - second only to December, maybe - when we're reminded how much kids cost. It's nice when states suspend their sales tax for a week of back-to-school shopping, but it doesn't change the fact that somehow we have to start over in September: new sneakers, new notebooks, maybe a new lunch box, because SpongeBob is so last season. Even in hard times, economists have found, children are "recession resistant." As investments, they are living proof of irrational exuberance, a leading indicator of our loss of fiscal discipline...
Pforzheimer House: 1. A nice place to visit, but you wouldn’t want to walk there. 2. Home to the Bell Tower and other good party spots that you will drunkenly make your way to and from during freshman year...
...Nice try. On Monday, Richards was given a three-year ban from the sport, while former Harlequins trainer Steph Brennan was suspended for a year. Williams saw his 12-month sidelining lowered to a four-month punishment on appeal. The club, meanwhile, will shell out $425,000 in fines, though that's a milder financial hit than expelling the team from this year's European tournament would have inflicted. (Read: "Cheating: It's All-American - And It's Great...