The SEC Is Too Lax on CEO Health Disclosure – Because someone’s personal health is everybody’s business [Business Week]
Indicted Billionaire to Appear in Court in Texas – It’s showtime: “On Thursday, the 59-year-old Texas financier was expected to have a chance to formally declare in court he is innocent of charges his international banking and financial empire was really just a Ponzi scheme.” [DealBook/NYT]
Study Ties Madoff Losses to Charity’s Board Size – [DealBook/NYT]
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Scoping | 07.09.09
•Dollar Will Remain World’s Main Reserve Currency – Sayeth Robert Gibbs, Obama mouthpiece. But there’s more, “‘There are a lot of people that have talked about it, but we don’t think that’s really serious,’ U.S. Commerce Secretary Gary Locke said”. Hear that? Not serious! Wa-hoo! GO TEAM AMERICA! [Bloomberg]
•GM Will Exit Bankruptcy With $48 Billion in Debt – This will be the “new” GM. The “old” GM will get “unwanted assets, including contaminated factory sites, a parking lot in Flint, Michigan, and a nine-hole golf course in New Jersey.” Sounds like a winner! [Bloomberg]
•U.S. jobless claims drop steeply – Calm down. It’s new jobless claims. It’s not like the unemployed are finding work. [Reuters]
Scoping | 07.27.09
• Bernanke defends bail-out package – “Ben Bernanke, the boss of the US central bank, has defended the US bail-out plan citing his fears of a second Great Depression, during a public talk.” [BBC]
• Citi public exchange offer gets 99 percent shares – “Citigroup Inc said on Sunday some 99 percent of its stock was tendered in an exchange offer for publicly held securities, in a key step toward giving the U.S. government a 34 percent equity stake in the bank.” [Reuters]
• Kuwait financier facing U.S. fraud suit found dead – “A brash Kuwaiti financier facing a fraud suit by U.S. authorities was found dead Sunday in an apparent suicide that sent shockwaves through the Gulf Arab financial sector.” [Reuters]
• Chinese state steel workers beat private firm boss to death -“Thousands of angry Chinese steel workers clashed with police and beat to death an executive of the firm trying to take over their company, a Hong Kong-based human rights organisation has said.” [The Guardian]