For investors who lost money in Bernie Madoff's infamous Ponzi scheme and are waiting for payback from a firm enlisted by the Department of Justice, the check's (still) in the mail.
In 2000 Donald Trump told Fortune Magazine, "It’s very possible I could be the first presidential candidate to run and make money off of it." That's the goal. He’s got 4½ months to make as much money as possible.
The 32-year-old Turing Pharmaceuticals CEO and Wall Street player became a source of schadenfreude on a mass scale Thursday with the news that he had been arrested for securities fraud.
Parasitism: In biology, parasites develop a strategy of gaining control of the host’s brain in order to obtain nourishment by masquerading as its natural progeny or as a part of its body. For economies, the brain in question is the government.
On the heels of an anticipated $13 billion fine to make its responsibility go away in the mortgage meltdown, the storied bank reportedly is in talks for a “deferred prosecution agreement” over its handling of some of Bernie Madoff’s Ponzi money. Short version: Pay a fine, and the bank avoids criminal charges. So in addition to being "too big to fail," now we have "too big to be guilty."
R. Allen Stanford is perhaps not as well known as Bernie Madoff, but the two men have one thing in common -- both received long sentences for their roles in separately orchestrating two of the largest Ponzi schemes ever.
Ponzi schemer Bernard Madoff's got nothing but time as he serves his sentence in a North Carolina prison for defrauding a vast network of clients out of billions of dollars, and he's apparently not averse to spending some of it sitting for interviews that aren't likely to help his standing much.
Federal prosecutors Tuesday accused Full Tilt Poker, an online gambling operation, of running a global Ponzi scheme that siphoned $444 million from player accounts to pay off celebrity board members and cover business expenses. (more)
If 2,000 tea party activists descended on Wall Street, you would probably have an equal number of reporters there covering them.