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...Lawyers predict lawsuits against the other accounting firms will soon follow. "The fact that they didn't catch the fraud leads me to believe that they blew it," says Scott Berman, a lawyer at Friedman Kaplan Seiler & Adelman who has reached settlements with auditors in similar cases in the past. "I am going to look hard at whether there is liability there...

Author: /time Magazine | Title: The Madoff Fraud: How Culpable Were the Auditors? | 12/17/2008 | See Source »

...contribution is also used to support future retirees reducing the city’s unfunded pension liability, or the amount by which the fund’s assets fall short of what experts predict the fund will need to cover pensions in the coming decades...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: Cambridge Pensions Relatively Robust | 12/16/2008 | See Source »

...Anyone who's seen a fight film will be able to predict the rest of The Wrestler. Randy gets one more chance: a 20-year rematch in Wilmington of his Ayatollah fight. Will he pass it up to save his life? (Not if there's gonna be an Act Three.) He also has a stab at mending the hearts of the women in his life. Will Randy manage to connect with his estranged daughter (Wood), who hasn't forgiven him for abandoning her? (That's Act Two, where the only innovation is that the girl's mother is never mentioned...

Author: /time Magazine | Title: The Wrestler: Mickey Rourke's Comeback Fight | 12/15/2008 | See Source »

...Many experts predict that given the complex interdependence of the Big Three and the network of small companies that supply them, a bankruptcy of even one could lead to a ripple effect that could jeopardize as many as 2.5 million jobs. Now the fate of those jobs, and the already tanking economy, are in the hands of a lame-duck President whom most Americans blame for the country's current woes...

Author: /time Magazine | Title: After Auto-Bailout Blowup, Will Bush Take the Wheel? | 12/12/2008 | See Source »

...Analysts are hard-pressed to predict which might be the first to go. The automobile sector is a priority industry for the Chinese government, and many carmakers are already heavily backed by the state, which could aid to keep local champions afloat through the downturn. This week Chery, one of the country's most successful domestic automakers, received a $1.5 billion loan from China's Export Import Bank. Jin Yibo, Chery's spokesman, says that the loan isn't government aid or any sort of bailout, but a "business deal" between Chery and the bank. However the money is characterized...

Author: /time Magazine | Title: China's Booming Car Market Shifts into Reverse | 12/11/2008 | See Source »

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