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Financial Scams Go Global, Here’s How to Avoid Them
Bernie Madoff’s guilty plea to a decades-long $50 billion-plus Ponzi scheme pretty much guarantees the 70-year-old will have his likeness immortalized on the Mt. Rushmore of scammers.
The former NASDAQ chairman’s December arrest – with collapsing U.S. and overseas stock markets as a backdrop – kicked up a firestorm that has forced investors to take a much-closer look at who was managing their investments. Scores of investors have lost their life savings, retirees found their nest eggs gone and countless charities discovered that they were essentially out of business; the cash that they once handed out to worthy causes had…
19Mar2009 | Money Morning | 0 comments | ContinuedInvestment News Around the Globe
Rocked by scandal, Satyam Computer Services Ltd. (ADR: SAY) is embarking on a massive corporate restructuring, but with India’s reputation as an investment destination and world leader in information technology at stake, time is of the essence and the government could be forced to step in with a financial bailout.
“We are considering all options and will soon announce definite steps to help the company overcome the current crisis as it is the question of saving jobs and an international brand,” Commerce and Industry Minister Kamal Nath said Monday. “The Prime Minister is closely monitoring the developments on Satyam.”
Indian authorities last…
15Jan2009 | Money Morning | 0 comments | ContinuedKeeping a pulse on $200 oil
As much as the Freddie and Fannie bailout might occupy our attention today, we can’t overlook the story that could easily bring about $200 oil.
Over the weekend, the Times of London had a breathless piece about how Team Bush has given Israel the “amber light” for an attack on Iran, attributing this to a proverbial “senior Pentagon official” who said, “Amber means get on with your preparations, stand by for immediate attack and tell us when you’re ready.”
15Jul2008 | Desidooru Saloon | Comments Off | Continued“It’s really all down to the Israelis,†the Pentagon official added. “This administration will not attack Iran. This has already been decided. But…
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