Tuesday, December 16, 2008

More economic troubles.


Madoff fallout spreads; Banks report potential losses of $10B...

Investors May Get Protection From Government...

Charities hit hard...


From Paris to Tokyo, more Madoff victims emerge: BNP Paribas, the biggest French bank, said Sunday that it has as much as €350 million, or $472 million, at risk from Madoff's investment advisory business. Nomura Holdings of Japan has ¥27.5 billion, or $302 million, at risk from Madoff's funds, while Banco Bilbao Vizcaya Argentaria of Spain may face up to €300 million in losses.

Faber Report -- Madoff: CNBC's Davif Faber reports on the $50 billion Ponzi scheme run bu ex-NASDAQ chairman Bernard L. Madoff.

Report: Elie Wiesel, Steven Spielberg among victims of Madoff affair: An alleged $50 billion fraud by Wall Street financier Bernard Madoff has caused deep ripples in the Jewish philanthropic world, forcing the closure of two prominent U.S.-based charities and threatening the financial lifeline of a slew of other groups.

Siemens to pay $1.3 billion in fines: In Washington, Siemens's general counsel, Peter Solmssen, signed an $800 million settlement with the U.S. Department of Justice and the Securities and Exchange Commission to end an inquiry into possible violations of the Foreign Corrupt Practices Act. The fine is, by a colossal margin, the largest ever imposed under the U.S. antibribery legislation, now 31 years old.

Dollar Staggers as U.S. Unleashes Cash Flood, Deficit : The biggest foreign-exchange strategists and investors say the best may be over for the dollar after a four-month, 24 percent rally.

Get ready for 'Toyota shock': First came the "Sony Shock.": No, not news last week that the consumer-electronics giant is cutting 16,000 jobs - the other shock. For investors, the big one came in April 2003, when shares fell 27% in two days.

Americans rich and poor pawn more to pay bills: 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.

List Of Madoff Victims Grows & Grows

US Home Values Lost Trillions In 2008

Fed Expected To Cut Rate To .05%

Dollar Staggers As US Unleashes Cash Flood

Madoff Fraud To Cost UK Banks Billions

Desperate Final Hours Of Madoff's Giant Fraud

UK Won't Intervene To Prop Up Pound

Western Economies On Oil Price Rollercoaster

UK Royal Mail Pension In $14B Hole

China, Now Everyone Stampeding To Collect Dollars

Norway To Tap $332B Oil Fund

Bailout for the People: "The Cook Plan"

Banks And Consumers Brace For New CC Rules

Madoff Client List

Pound Buys Less Than A Euro

Goldman Faces $2B Loss - Its First Since 1929

US Newspapers Fading Fast

World's Richest Hit By Bernard Madoff

Dubai The New Switzerland For The Elite

The Final Bet By Obama's Financial Handlers

Schiff - A Nightmare Before Christmas

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