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Yet another billion $$$ fraud
NEW YORK — The owners of a company that managed hundreds of millions of dollars for universities and charities were arrested Wednesday on charges of looting their investment funds for over a decade to buy horses, collectibles and other personal items. Paul Greenwood, 61, and Stephen Walsh, 64
Dollar to Hit 50 Yen, Cease as Reserve
Oct. 15 (Bloomberg) -- The dollar may drop to 50 yen next year and eventually lose its role as the global reserve currency, Sumitomo Mitsui Banking Corp.’s chief strategist said, citing trading patterns and a likely double dip in the U.S. economy. “The U.S. economy will deteriorate into 2011 as the
Meredith Whitney downgrades GS
Oct. 13 (Bloomberg) — Goldman Sachs Group Inc., the biggest U.S. securities firm before converting to a bank last year, was cut to “neutral” by Meredith Whitney, as the analyst dropped her only “buy” recommendation. Whitney, who correctly predicted in 2007 that Citigroup Inc. would cut its dividend
Small Investors Make Big Bets on Currencies
The dollar is zigzagging, falling below the 90 yen mark Friday and testing the depths it plumbed against the euro a year ago. That kind of action is music to the ears of investors such as Ray Firetag. As most of America slept on a recent Monday night, Mr. Firetag was in front of his computer in Elk
Asia steps in to support dollar
Asian central banks intervened heavily in the currency markets on Thursday to stem the appreciation of their currencies against the US dollar amid fears that their exports could be losing ground against China. The mainly south-east Asian countries have been spurred to defend the competitiveness of
IBM being Probed by JD
https://www.mql5.com/go?link=http://finance.yahoo.com/news/Justice-Dept-probing-IBMs-apf-3860784914.html?x=0&sec=topStories&pos=main&asset=&ccode= WASHINGTON (AP) -- The Justice Department is looking into allegations that IBM has abused its monopoly in the mainframe computer business to keep
Toxic-Asset Rescue Funds Start
While many investors are focused on the winding down of government programs, one notable piece of the rescue effort is finally ramping up. Five investment funds that raised $1.94 billion in private capital to purchase troubled assets through the Public Private Investment Partnership can start buying
High Frequency Trading: Citadel Net's $1 Billion
Citadel Investment Group LLC, known for its hedge funds, pulled in about $1 billion last year in a unit that does high-frequency trading. The figure, which emerged this week in a Chicago court battle involving Citadel, shows just how lucrative this often-secretive trading practice can be
Retail sales fall 4% for Spain in August
MADRID (MarketWatch) -- Retail sales fell 4% in August on an annual basis, the Instituto Nacional de Estadistica said on Tuesday. That compares to a fall of 4.9% in July. The biggest falls were in household equipment, down 12.8%, and food products, down 4.5%. Single retail stores saw the biggest
Sheila Bair "FDIC Is Broke, Taxpayers at Risk"
FDIC Is Broke, Taxpayers at Risk, Bair Muses: Jonathan Weil - Bloomberg.com Sept. 24 (Bloomberg) -- The FDIC’s insurance fund is going broke, and Sheila Bair is wondering aloud about how to replenish it. This means one thing for taxpayers: Watch your wallets. Bair, the Federal Deposit Insurance