Word: payments
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...heard of payment for order flow, right?" Madoff asked. "Huh?" I responded. Madoff explained that Bernard L. Madoff Investment Securities had pioneered the practice of paying customers to trade through it, thereby siphoning business away from the New York Stock Exchange (NYSE). The firm was able to use its sophisticated computer systems and trading algorithms to earn enough off the spreads between what it bought and sold stocks for to more than offset the amount it paid customers. (See the top 10 crooked CEOs...
...Charged with hacking into retail and card-processing computers to steal 130 million credit- and debit-card numbers from 2006 to 2008. The compromised companies include Heartland Payment Systems, 7-Eleven, two unnamed national retailers and Hannaford Brothers, a regional supermarket chain...
...Heartland Payment Systems, which processes credit-card data for more than 250,000 businesses, accounts for most of the 130 million numbers cited in the New Jersey indictment. The company has thus far spent $12.6 million in legal costs and fines associated with the security breach...
...Wild West. There's even a real estate agent (and the figures and details are slightly changed here to protect him) whose out-of-town investor demanded that the agent find a way to cover some of the losses he was taking on the $60,000 down payment he'd sunk into a house. So the agent created a separate contract, never shown to the bank, that said the new buyer had to purchase a $60,000 Persian carpet from the seller - a check his mortgage company, which was sucking up hundreds of thousands of dollars in losses...
...mean to slight the care I received, which was excellent. And fortunately, the total cost for my insurer was about $7,100 after its discount, a small part of which was my co-payment. But had I not been insured, I would have been stuck with the entire $12,000 bill. Reform advocates say charging even $7,100 for something as ordinary as a kidney stone just doesn't make sense and points up what they call the rampant U.S. practice of "defensive medicine": ordering excessive treatment out of fear of being sued for malpractice, which in turn points...