Madoff feeder fund settles with Massachusetts
Wed Sep 9, 2009 | | Posted in Finances News
BOSTON (Reuters) – Massachusetts’ top securities regulator said on Tuesday his office has settled for $8 million with financial swindler Bernard Madoff’s feeder fund Fairfield Greenwich Group, becoming the first state regulator to reach such a agreement. “This Fairfield settlement, which provides restitution and interest for Massachusetts investors, represents the first investor relief ordered by … Continue Reading »
CEO Pay at rescued banks exceeds S&P 500 average
Wed Sep 2, 2009 | | Posted in Finances News
The U.S. economy is seeing, some experts suggest, a rebound in general. But still, many folks who have lost jobs over the last year are still looking. Some have been out of work for more than a year. It’s hard to cope with all the everyday expenses for average Americans. But the economy is not … Continue Reading »
Bankruptcy of banks continues, protect your account
Mon Aug 31, 2009 | | Posted in Finances News
Despite signs of an improving economy, the nation’s banks are still struggling – in fact, the pace of bank failures has accelerated. A cascade of collapses began last year as the financial crisis struck. Eighty-four banks have fallen so far this year as tumbling home prices and spiking unemployment pushed loan defaults upward. That’s the … Continue Reading »
House prices-the first monthly increase in nearly three years
Sat Aug 1, 2009 | | Posted in Finances News
A handful of early signs suggest construction starts and new house sales were up nicely in June. Prices rose from April to May, the first monthly increase in nearly three years. That raises a question. Has the bottom of the housing market reached and the price is on its way upward? Is this price-increase trend … Continue Reading »
The guy quit a bad drug habit known as money
Sun Jul 26, 2009 | | Posted in Finances News
DANIEL SUELO lives, unlike average Americans who are swimming in the swamps of credit-card debt, clinging to a mortgage, terrified of the next downsizing at the office – in a cave. He isn’t worried about the economic crisis. Nine years ago, in the autumn of 2000, Suelo decided to stop using money. He just quit … Continue Reading »
CIT Group closer to bankruptcy as U.S. denies aid
Thu Jul 16, 2009 | | Posted in Finances News
CIT Group, an important lender to smaller companies, said last night that the federal government has refused to provide further financial assistance to help it avert a likely bankruptcy filing that could hurt thousands of clients ranging from small clothing manufacturers to retailers such as Dunkin’ Donuts and Dell. What CIT does CIT provides financing … Continue Reading »
NH man charged 23 quadrillion dollars for smokes
Wed Jul 15, 2009 | | Posted in Finances News
MANCHESTER, N.H. – A New Hampshire man says he swiped his debit card at a gas station to buy a pack of cigarettes and was charged over 23 quadrillion dollars. Josh Muszynski checked his account online a few hours later and saw the 17-digit number — a stunning $23,148,855,308,184,500 (twenty-three quadrillion, one hundred forty-eight trillion, … Continue Reading »
Believe it or not, GM has a hit car on its hands
Mon Jul 13, 2009 | | Posted in Finances News
Source: New York Times | July 10, 2009 Amid the gloom of bankruptcy and a miserable market for new vehicles, General Motors’s new Chevrolet Camaro muscle car is winning over consumers looking for a little excitement in a bland landscape of look-alike sedans and watered-down sport utilities. G.M. sold 9,300 Camaros during the month of … Continue Reading »
Goldman Sachs likely to report blowout profits
Sun Jul 12, 2009 | | Posted in Finances News
Excerpts fro New York Times Up and down Wall Street, analysts and traders are buzzing that Goldman, which only recently paid back its government bailout money, will report blowout profits from trading on Tuesday. Analysts predict the bank earned more than $2 billion in the March-June period, thanks to its trading prowess across world markets. … Continue Reading »
Does the GOV have to do this to PUB – AIG mess?
Sun Jul 12, 2009 | | Posted in Finances News
Excerpts from Reuters.com American International Group (AIG.N) is preparing to pay next week millions of dollars more in bonuses to dozens of corporate executives, a source familiar with the development said. AIG has been talking with Washington’s newly-appointed compensation czar Kenneth Feinberg about the bonuses, which are due to be paid on July 15, said … Continue Reading »
