Archive for December, 2008
SEC Didn’t Act on Madoff Tips
December 16th, 2008Imagine my shock. Friehling and Horowitz… Just where is that rabbit hole going to lead? Via: Washington Post: The Securities and Exchange Commission learned about what it describes as one of the largest securities frauds in history when Bernard L. Madoff volunteered his confession, raising questions about the agency’s ability to police the financial marketplace. […]
Thomas M. Tamm: Whistleblower
December 16th, 2008What Thomas Tamm has to say is interesting, but it seems like chicken scratch compared to what Russell Tice was trying to tell Congress. Via: Newsweek: In the spring of 2004, Tamm had just finished a yearlong stint at a Justice Department unit handling wiretaps of suspected terrorists and spies—a unit so sensitive that employees […]
Australia: Lawyers Given Permission to Serve Debtors with Default Judgement Through Facebook
December 16th, 2008Via: Herald Sun: TWO friends who defaulted on a six-figure loan are about to find out through their Facebook page a mortgage lender’s lawyers are on their trail. In an Australian and possibly world first, two lawyers have won a court order to allow them to serve a default judgment through Facebook. After failing to […]
Change We Can Believe In: Cheney Praises Obama’s National Security Team Selections
December 16th, 2008Via: ABC News: “I must say, I think it’s a pretty good team,” Cheney said. “I’m not close to Barack Obama, obviously, nor do I identify with him politically. He’s a liberal. I’m a conservative.” “But I think the idea of keeping Gates at Defense is excellent. I think Jim Jones will be very, very […]
Russian Warships Head for Cuba
December 15th, 2008Via: AFP: Russia said on Monday it was sending a group of warships to Soviet-era ally Cuba in its latest defiant naval move around US waters, part of a drive to revive old Cold War ties with Latin America. The warships will visit Havana on December 19-23, the navy said, continuing a tour that has […]
The Desperate Final Hours of the World’s Biggest Ever Financial Fraud
December 15th, 2008UPDATE: Madoff Claims to Have Acted Alone Impossible. It’s like I said when the news first broke. He’s trying to stay alive. This one goes all the way up the ladder. One wrong word and he’s dead, his family is dead, etc. He knows it. He’s sticking to a script. For the first time, I’m […]
Americans From All Social Classes Are Pawning Their Possessions
December 15th, 2008Via: Reuters: Whether it’s a Tiffany diamond or a three-year-old lawnmower, more and more Americans from all social classes are pawning their possessions to make ends meet. Pawn shop owners see strong business across the country, even in unexpected locales like Beverly Hills, the mecca of luxury living and shopping. “Banks aren’t lending so people […]
Fannie to Let Renters Remain in Foreclosures
December 15th, 2008Via: Washington Post: Fannie Mae has agreed to let renters stay in their homes even if the owners of the properties have been foreclosed on, according to an announcement from the company yesterday. About 4,000 renters live in properties foreclosed on by Fannie Mae. The move comes after the mortgage-finance giant came under pressure from […]
DOLLAR SHARPLY LOWER
December 15th, 2008WARNING: This is not a recommendation to buy, sell or hold any financial instrument. Ok, the number to watch on gold is $850. Seriously, if it can make it over $850, you might want to have your popcorn ready to enjoy the show. Via: Reuters: The dollar hit a two-month low against the euro and […]
Fears of Unrest Spreading Across Europe
December 15th, 2008Via: Scotsman: THE unrest that has gripped Greece this week is spilling into the rest of Europe, raising concerns that it could be a trigger for opponents of globalisation, disaffected youth and others outraged by economic turmoil. Protesters in Spain, Denmark and Italy smashed shop windows, pelted police with bottles and attacked banks this week, […]
