Word: scheming
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...Attorney's office has filed 11 counts against Madoff for his part in a decades-long Ponzi scheme, now estimated in court documents to amount to $64.8 billion, considered the largest in history. In fact, the new dollar amount cited in a Justice Department communication to Sorkin tallies the total size of the fraud, which dates back to the 1980s, at $170 billion, which includes money invested with Madoff, interest earned and payouts to investors as well as the value of things he bought for himself, like a yacht. "The charges reflect an extraordinary array of crimes committed by Bernard...
...Green entered the game as the defensive specialist, and it certainly lived up to its billing in disrupting the Crimson’s offensive scheme from start to finish. Harvard expected to counter Smith with some star power of its own, but co-captain Emily Tay, who poured in a career-high 34 points last Saturday against Yale, was held to just seven points on 3-of-8 shooting and didn’t score her first basket until 12 minutes remained in the contest...
...Kiev, anxious to get hold of their cash. With a number of banks already under the administration of the National Bank, worried citizens have drained over 20% of hryvnia deposits since November. As banks struggle to come up with enough cash to meet demand, one has even proposed a scheme of exchanging deposits for homes that have been repossessed. "I have to come here every day to stand in line in the cold, with no food or toilet," Vesna says. "But what else can I do?" (See pictures of Ukraine's neighbors, Russia...
...Paulo's sprawling Brasilândia, though, and you don't sense the relentless doom and gloom gripping other cities in the world. Take Efigênia Francisca da Silva, who exudes middle-class expectations and remains positive despite the tsunami of bad news. Thanks to a government scheme to encourage entrepreneurs, the once dirt-poor housewife has received some $8,000 in low-interest bank credits in recent years and now owns three shops that sell everything from shampoo to public-transit tickets. "I didn't have a bank account before," says Da Silva, 37, standing beneath graffiti-covered...
...does not like admitting it, but once in the presidency, Lula embraced Cardoso's macroeconomic orthodoxy. He then used that as a base on which to weld social programs, such as Bolsa Família, a grant scheme that has paid out more than $20 billion in aid to poor families in return for parents getting their children vaccinated and making sure they attend school. Brazil's business leaders insist record profits during the 2005-2008 boom allowed Lula to aid the poor; Lula argues his antipoverty crusade fueled the economic growth. It's a chicken-and-egg debate...