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...think Bernie Madoff did what he did? Was it about money, or something more? I think it was greed, pure and simple. To do what he did on such a large scale and to so-called friends is reprehensible. He had to know what he was doing. I don't think he deserves any excuses for being a sleazebag. (See photos from the downfall of Bernie Madoff...
...country seems to be ready to shop for car companies. According to Reuters, the chief of China's large Chongqing Changan Auto Co. is prepared to take a vulture-fund approach to buying assets. He said, "The longer the crisis lasts, the bigger the chance of failure or a scale-down of some American and European automakers." It is a brutal but honest assessment of the industry, and a clear and public sign that China believe that "money talks...
...high-powered water hoses to try to ward off oncoming pirates. Kidnap experts say the pirates are increasingly skilled at seizures; they say they were astonished last November when the Saudi supertanker Sirius Star was seized, since its side had been regarded as too high for pirates to scale. The pirates finally released the ship and its crew two months later, after a security company dropped $3 million in cash over the Indian Ocean. "Even with the best protections in the world, you still have the risk because the pirates are very well armed and trained," says risks underwriter Bonnissent...
...Kadyrov already controls his own private army and imposes some of his own laws and taxes. Now Kadyrov is also expected to get his longstanding wish of international status for Grozny's airport, and therefore a full-scale customs operation. This will not only attract investment, but also, experts say, allow Kadyrov to export and import capital and travel as he pleases, giving him more independence from Moscow. "Ramzan [Kadyrov] knows he can make a lot of money with Chechnya as part of Russia," says Malashenko. "But he wants it to be special, like a foreign country within Russia...
...face of this, impoverished Somalis living by the sea have been forced over the years to defend their own fishing expeditions out of ports such as Eyl, Kismayo and Harardhere - all now considered to be pirate dens. Somali fishermen, whose industry was always small-scale, lacked the advanced boats and technologies of their interloping competitors, and also complained of being shot at by foreign fishermen with water cannons and firearms. "The first pirate gangs emerged in the '90s to protect against foreign trawlers," says Peter Lehr, lecturer in terrorism studies at Scotland's University of St. Andrews and editor...