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Madoff never used his asset-management money to trade securities, court documents show. Instead, he largely kept it in his Chase account for years. Though Chase bankers never raised a red flag, another arm of Chase did have suspicions about Madoff, and that raises questions. (See pictures of the demise of Bernard Madoff...
...Colombia's cocaine industry. When Colombian authorities seized 600 kilos of cocaine hidden in everything from shoeboxes to a dog cage containing a live dog, drug traffickers retaliated by killing 40 people in one weekend. Nicknamed the "Medellin Massacre" after the city at the center of Colombia's drug trade, the murders ignited years of raids, kidnappings, and assassinations (a 1985 Medellin cartel "hit list" even included names of U.S. businessmen, embassy members and journalists...
There has been little definitive discussion of the actual benefits of the Treasury's new program that will fund the purchase of toxic assets from banks using federal money, and then allowing private money managers to purchase and trade this paper. There has only been speculation about the outcome, and that has been over a broad range. Prominent economists, led by James Galbraith and Paul Krugman, have said that the plan may actually do more harm than good. In the Treasury's corner, Pimco, the largest fixed income management firm in the U.S., endorsed the Administration's plan. "This...
...course, if the Obama Administration achieves its stated goal of passing carbon cap and trade legislation, EPA regulations might be superseded - and even deep greens generally prefer Congressional action to federal fiat. But with cap and trade looking like it may become a victim of the White House's need to prioritize amidst a sea of crises, the EPA's actions could provide a much-needed nudge to Congress. "This is a strong message," says O'Donnell. "Congress either has to face the reality that something has to be done, or the Obama Administration will just do it itself." What...
Points of Interest. It doesn't do you much good to hoard all those Delta SkyMiles, when the only airline with a direct flight to your destination is American. So, check out Points.com's Global Points Exchange, where you can post an offer to trade your points and search for someone who has the frequent flyer points you need. The website will execute the exchange...