With Debt Relief in the Offing Investors Tighten Reins on Money
Madoff scandal gives rise to debt relief issues
In the wake of the Bernie Madoff scandal, debt relief has become a persistent theme. Madoff had a long running Ponzi scheme in which he bilked investors of over $13.2 billion.
Under the guise of a gifted money-manager, Madoff attracted high-profile clients like Steven [...]
Bernie Madoff Sentencing and War Criminals Who Stand Free
He shielded others from prosecution
Sure, Bernie Madoff has been sentenced to the maximum of 150 years in jail. It’s a life sentence, I get it.
Sure, the presiding judge said he “needed to send a message to potential imitators and to victims who demanded harsh punishment.”
But Bernie Madoff did not act [...]
Obama’s Hiring Woes | Another Top Treasury Pick Withdraws
Third candidate out of the ring
President Obama’s trouble filling his cabinet appears to be far from over. Three candidates for top positions in the United States Treasury have withdrawn from consideration.
Deputy Treasury Secretary pick H.Rodgin Cohen was the most recent to drop out of the process before he was even officially nominated.
Tangled web
There’s no [...]
Westgate Capital Manager Arrested on Investor Fraud Charges
Westgate Capital manager caught
The fallout from the Bernie Madoff disaster continues. So, when is it that you’re going to step up your monitoring of financial fraud, SEC? Any time now…
Alistair Barr of MarketWatch brings our attention to James Nicholson, 42, the manager of the investment firm Westgate Capital Management LLC. [...]
UPDATE: FBI Finds Stanford | Quick Loan For Bail?
Quick loans won’t get him out once he’s incarcerated
BBC News reports that FBI agents in Virginia have located and served Sir Allen Stanford with civil papers, a quick loan courtesy of the SEC. They would like to see him pay it back with other people’s money… and jail time.
Stanford has [...]
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