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Elway Was Paid To Attract Investors To Alleged Ponzi Scheme

Posted 05.25.2011 | Denver

Speed of Wealth LLC, the Centennial financial firm that was accused Monday of orchestrating a $30 million Ponzi scheme targeting green investors, had ...

Sources: SEC Gearing Up For Insider-Trading Crackdown

Bloomberg | By Joshua Gallu and David Scheer | Posted 05.25.2011 | Business

Federal investigators are gearing up to file charges against a wider array of insider-trading networks, some linked to the criminal case against billi...

Two Madoff Victims File Lawsuit Against The SEC

Reuters | Tom Hals | Posted 05.25.2011 | Business

Two victims of Bernard Madoff's Ponzi scheme filed a federal lawsuit against the U.S. Securities and Exchange Commission on Wednesday, seeking at leas...

Why Sen. Dodd's Opposition to the Federal Reserve is Ill-Conceived

Georges Ugeux | Posted 05.25.2011 | Politics
Georges Ugeux

Had Senate Banking Committee's Chairman Chris Dodd's proposal been effective before the crisis, where would we be today?

Proposals In House Would Curb 'Too Big To Fail' Banks, Firms

Wall Street Journal | DAMIAN PALETTA and MICHAEL R. CRITTENDEN | Posted 05.25.2011 | Politics

Democrats are advancing proposals in Congress designed to limit the size and complexity of financial companies so that any collapse wouldn't damage th...

White House Stands by Geithner, Citing His Ignorance

Ross Hyzer | Posted 05.25.2011 | Comedy
Ross Hyzer

If government serves only to amplify the already considerable power of the mighty, then it's about as useful to the average person as a Louis XIV credenza is to a horse.

JPMorgan Settlement: Bank To Pay SEC Over $700M Over Charges Of Illegal Payments

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — JPMorgan Chase & Co. has agreed to pay $75 million in fines and forfeit $647 million in fees to settle federal regulators' charges ...

What Did We Learn from Insider Trading at Galleon?

Norb Vonnegut | Posted 05.25.2011 | Business
Norb Vonnegut

What did we learn from insider trading at Galleon? First, hiring hookers is safer--no jail time--than flirting with with former beauty queens who consult hedge funds. Right, Eliot?

Warren Buffett and the Business of Life: Part 1 of 7

Alice Schroeder | Posted 05.25.2011 | Business
Alice Schroeder

Warren Buffett is never more himself than when he is given the chance to invest in something he wants at a price of his choosing.

Bradd Morrice, Patti Dodge And David Kenneally, Ex-New Century Execs, Charged With Misleading Investors By SEC

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — Federal regulators on Monday accused three former top executives of collapsed mortgage lender New Century Financial Corp. of fraud,...

Jeffry Picower Dead: Madoff Friend Found At Bottom Of Pool

AP | BRIAN SKOLOFF | Posted 05.25.2011 | Business

PALM BEACH, Fla. — Jeffry Picower, a philanthropist accused of profiting more than $7 billion from the investment schemes of his longtime friend...

Raj Rajaratnam: Denies Insider Trading Allegations, Says Trades Were Based On Analyst's Work

Bloomberg | David Scheer, Joshua Gallu and David Glovin | Posted 05.25.2011 | Business

Attorneys for Galleon Group founder Raj Rajaratnam denied a U.S. regulator's claims he engaged in insider trading, saying he based investments on anal...

Wall Street Is More of a Threat to Obama's Domestic Agenda than Afghanistan

Joseph A. Palermo | Posted 05.25.2011 | World
Joseph A. Palermo

Whatever Obama decides to do in Afghanistan is of little consequence compared to Wall Street's ongoing "plutonomy."

Rajaratnam Charged With Insider Trading

AP | LARRY NEUMEISTER and CANDICE CHOI | Posted 05.25.2011 | Business

NEW YORK — One of America's wealthiest men was among six hedge fund managers and corporate executives arrested Friday in a hedge fund insider tr...

SEC Accuses Denver Area Firm Of Orchestrating Ponzi Scheme

AP | Posted 05.25.2011 | Denver

DENVER — Federal regulators have accused four people and two companies of fraud in an alleged $30 million Ponzi scheme that lured 300 investors ...

"Markets" and the National Interest

Gary Hart | Posted 05.25.2011 | Business
Gary Hart

It is not only wrong for private American financial institutions to go abroad selling financial snake oil to foreign governments; in a just world it would also be criminal.

My Brother Loves Glenn Beck, But I Still Love My Brother

Suz Redfearn | Posted 05.25.2011 | Politics
Suz Redfearn

My brother rolled into D.C. from Boston on a chartered bus, arriving in the dark outside a Marriott. I scanned the pack of fairly nondescript folks ...

In Testimony, Moody's Exec Denies Claims Of Inflated Ratings

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — A key House lawmaker wants to make credit rating agencies – widely criticized for failing to give investors adequate warning ...

SEC Watchdog Pushes For Sweeping Changes After Madoff Failure

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — The watchdog of the Securities and Exchange Commission has recommended a new system for handling the thousands of tips and complain...

Barry Rithotlz: Giving The SEC Teeth

The Big Picture | Posted 05.25.2011 | Business

By Barry Ritholtz Note: this post also appeared on Ritholtz's blog, The Big Picture. The problems at the SEC were decades in the making. The a...

Mark Foley: Disgraced Former GOP Congressman Makes Radio Debut

AP | Posted 05.25.2011 | Politics

WEST PALM BEACH, Fla. — Former U.S. Rep. Mark Foley began his new career on a Florida political talk radio, three years after a lurid scandal ru...

Bank Of America To Go To Trial With SEC

AP | MARCY GORDON | Posted 05.25.2011 | Business

WASHINGTON — Bank of America Corp. now faces a trial with the Securities and Exchange Commission over billions in bonuses paid at Merrill Lynch,...

Restoring Trust in Our Economic System and the Institutions of Our Democracy

Bruce Judson | Posted 05.25.2011 | Business
Bruce Judson

America is becoming an angry nation, with diminished faith in its institutions. There is a growing sense among all but the wealthiest Americans that "the game is rigged" against them.

Dad, Dad, Uncle Alvin's Been Arrested

Norman Horowitz | Posted 05.25.2011 | New York
Norman Horowitz

In my humble opinion we should hire as many special prosecutors as are needed to investigate the stuff that happened on Wall Street that has screwed up our country and put as many as called for into jail.

Industrial Loan Companies are Part of the Economic Solution

Bill Himpler | Posted 05.25.2011 | Business
Bill Himpler

Criticisms of Industrial Loan Corporations do not reflect mainstream academic or legal thinking, as ILCs played no role whatsoever in causing or exacerbating the current or previous financial crises.