Word: scandal
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...even consulted third parties, such as the Depository Trust Company (DTC, a special-purpose bank used by securities firms), to verify trades, the scandal would have been uncovered. For example, a January 2005 statement for a Madoff feeder-fund account indicated it held $2.5 billion of S&P 100 equities on Jan. 31, 2005. However, DTC records show Madoff held less than $18 million worth of S&P 100 equities in his DTC account...
...bureaucracy, like so many local governments in this decade, got too bloated during the economic boom. The County Commission, for example, has a staff of more than 200 serving only 13 commissioners - and yet it still managed to screw up tasks like its oversight of Miami-Dade's scandal-plagued housing agency...
...Handed a mandate to steer Japan out of a malaise of economic crisis and failed social systems, the next Prime Minister of Japan and his party need to reverse the nation's lost confidence in government leadership. A misstep, scandal or lack of fortitude in reform could cost the DPJ the upper-house elections next July - a severe check on the new administration's progress. Experts pinpoint five areas where the new ruling party should put its focus to get the nation back on track...
Some traditionalists hoped (in vain) that Kennedy, a longtime abortion rights and gay-marriage supporter, wouldn't even be allowed a Catholic funeral. Others hoped (also in vain) that Boston's Archbishop, Cardinal Sean O'Malley, who has declared that voting for pro-choice Catholic politicians "borders on scandal," would sit out the Saturday funeral. Though the main celebrant was former president of Boston College Rev. Donald Monan, a Jesuit and longtime Kennedy family friend, O'Malley was there to give the final commendation at Our Lady of Perpetual Help Basilica. (See a Kennedy family photo album...
...attempt to tamp down the scandal, the British and Scottish governments published a batch of letters online on Sept. 1 detailing the discussions over how to handle al-Megrahi. The letters date back to June 2007, when British oil companies were negotiating huge new deals in Libya. In February 2008, British Justice Minister Jack Straw wrote to Scotland's First Minister, Alex Salmond, that "developing a strong relationship with Libya ... is good for the U.K.," adding that Libya "is one of only two countries to have ever voluntarily and transparently dismantled its weapons of mass destruction program...