• Stanford Enters Plea; Bail Is Set at $500,000 [New York Times]
• After Madoff: Are We Safer? The question should be “Are people any smarter?” because….[Business Week]
• This happened: Pang Took $83 Million From Firm, Filings Say. So we’d be inclined to say that people might be safe but their money sure as hell isn’t. [WSJ]
Related Posts
Scoping | 07.24.09
• Warren Buffett to Teach Kids About Finance in New Web Cartoon [Bloomberg]
• U.K. GDP Shrinks More Than Expected – “Hopes that the U.K. economy was on the road to recovery after a severe recession received a major blow Friday with official data showing output contracted far more than expected in the second quarter.” [WSJ]
• After Buffett Rebuff, CIT Eyes a Breakup – “Conglomerates Berkshire Hathaway Inc. and Leucadia National Corp. made a bid to buy parts of CIT Group Inc. but were rebuffed by CIT, according to people familiar with the matter, because the price was too low.” [WSJ]
• The Man Who Sank New Jersey [Forbes]
Scoping | 07.15.09
• Young ‘depressed’ about money – Has everyone forgotten that spending makes us happy?!? C’mon people! Go out there and get pre-approved on something! [BBC]
• Judge won’t drop charge vs ex-Bear Stearns exec – “A U.S. judge refused on Tuesday to dismiss an insider-trading charge against former Bear Stearns hedge fund manager Ralph Cioffi, court documents showed.” [Reuters]
• Franklin drops out of group eyeing AIG unit: source – “AIG’s asset management business had drawn interest from both private equity and strategic buyers, sources told Reuters previously. Initial bids for the unit had come in around $500 million but it has taken the company several months to work out a deal.” [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]