Archive for the 'Fraud' Category

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Fraud: Britain Charges Barclays, Ex-Bosses Over ‘Unlawful’ Qatari Deal

June 20th, 2017

Via: Reuters: Barclays (BARC.L) and four former top executives have been criminally charged over undisclosed payments to Qatari investors during a 12 billion pound ($15 billion) emergency fundraising in 2008. Britain’s Serious Fraud Office (SFO) said on Tuesday it was charging Barclays with conspiracy to commit fraud and unlawful financial assistance, making it the first […]

Booz Allen Hamilton: Federal Civil and Criminal Probe in Connection with Its Finances

June 15th, 2017

Via: NBC: Shares of Booz Allen Hamilton sank as much as 13 percent in after-hours trading after the government services firm revealed in a regulatory filing it was the subject of a federal civil and criminal probe in connection with its finances. Last year, the company derived 97 percent of its revenue from U.S. government […]

Cost to Keep Each Prisoner Locked Up in California Per Year: $75,560

June 6th, 2017

Madness. Via: Los Angeles Times: Gov. Jerry Brown’s spending plan for the fiscal year that starts July 1 includes a record $11.4 billion for the corrections department while also predicting that there will be 11,500 fewer inmates in four years because voters in November approved earlier releases for many inmates. The price for each inmate […]

Why Jails Are Booming

June 2nd, 2017

Via: The Atlantic: A new report from the Prison Policy Initiative examines the reasons behind this explosive growth. Perhaps unsurprisingly, it’s not driven by crime. Crime rates nationwide have dropped over the past few decades, as have conviction rates in court. So then why do jails keep swelling? It basically comes down to two things, […]

GM Sued Over Diesel Emissions

May 25th, 2017

Via: Bloomberg: General Motors Co. was sued for allegedly putting defeat devices in trucks to beat emissions tests, making it the fifth carmaker to be accused of diesel cheating since Volkswagen AG admitted in 2015 to flouting pollution rules. Owners and lessees of more than 705,000 GM Duramax branded diesel trucks filed a class-action lawsuit […]

The Trump Organization Says It’s ‘Not Practical’ to Comply With the Emoluments Clause

May 25th, 2017

Via: The Atlantic: Days before taking office, Donald Trump said his company would donate all profits from foreign governments to the U.S. Treasury, part of an effort to avoid even the appearance of a conflict with the Constitution’s emoluments clause. Now, however, the Trump Organization is telling Congress that determining exactly how much of its […]

Baking Soda Shortage?

May 25th, 2017

A cartel combined with absurd government regulations can look a lot like a doomed socialist state at times. In Venezuela, for example, there are shortages of food, toilet paper, medicines etc. Pretty standard stuff, Comrade. But in the U.S., how is it possible that the there’s a shortage of solutions of sodium bicarbonate? Key words […]

Americans Are Paying $38 to Collect $1 of Student Debt

May 19th, 2017

Via: Bloomberg: The federal government has, in recent years, paid debt collectors close to $1 billion annually to help distressed borrowers climb out of default and scrounge up regular monthly payments. New government figures suggest much of that money may have been wasted. Nearly half of defaulted student-loan borrowers who worked with debt collectors to […]

Brazil’s Stock Market Declines 10 Percent

May 18th, 2017

Via: CNN: Brazil’s stock market, Bovespa, plunged more than 10% immediately after opening Thursday, wiping out almost all of its gains for the year. Officials halted trading for 30 minutes. Brazil’s currency, the real, also tanked 7% against the dollar, its worst day since the global financial crisis in 2008. The selloff came after new […]

FDA Approved Drugs Have Nearly 1 in 3 Chance of Having a “Significant Safety Issue”

May 16th, 2017

Oh sure, it’s a surprise. *wink* Via: Los Angeles Times: Almost one-third of new drugs approved by U.S. regulators over a decade ended up years later with warnings about unexpected — sometimes life-threatening — side effects or complications, according to a new analysis in the Journal of the American Medical Assn. Researchers looked at potential […]

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