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Santander's only stumble has been steering some of its private-banking clients into Bernard Madoff's Ponzi machine through its Geneva-based Optimal hedge funds. It moved fast to make good, offering to repay 100% of the sums invested. Santander says 94% of its Madoff victims have accepted, costing...
Here's a fact about the underwear attack that you might have missed in the media shoutfest: it failed. It failed, first of all, because Umar Farouk Abdulmutallab was just one terrorist. Once upon a time, al-Qaeda's modus operandi was to launch multiple, simultaneous attacks. That way, even...
"It's a train wreck in slow motion," says Richard Parkus, head of commercial real estate debt research at Deutsche Bank. "Because it's in slow motion, people get this sense that it's really not happening. It is happening." To get a sense of just how the train wreck...
TIME has got to be kidding in naming Federal Reserve Chairman Ben Bernanke Person of the Year for 2009 [Dec. 28--Jan. 4]. In my opinion, the benchmark for this title must have been considerably lowered for this man to receive it. The choice of Bernanke is an insult to...
The Fites are among those who might disagree. In late November, with their lease up and their options narrowing, the couple put in one more offer, on a three-bedroom stucco house in Highland. Again they were passed over for cash, but the deal fell through; in the end, their...