| zuiaipiugoik | Date: Tuesday, 03 Dec 2013, 5:08 PM | Message # 1 |
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| The money manager accused of duping investors in one of Wall Street's biggest Ponzi schemes once boasted for the Securities and Exchange Commission about how much money he earned and formally advised the U.S. government on approaches to protect investors from scam artists.Now Bernard Madoff stands charged with being one.Seventy-year-old Madoff, well known in the investment community after in the role of chairman of the Nasdaq Currency markets, was arrested last week in what prosecutors say would have been a $50 billion scheme to defraud investors, such as the world's big banks, the rich as well as the famous.The financial fallout from Madoff's multi-billion-dollar scheme will continue to spread across the U.S., Europe and Asia, touching everyone in the anonymous rich in ritzy Palm Beach to A-list Hollywood directors, Nobel Laureates and former NFL owners, reported CBS News chief investigative correspondent Armen Keteyian. The sufferers of Madoff's scheme are not only retired Floridians who invested their life savings. Rather, financial institutions, charities and savvy investors - who supposedly knew whatever they were doing - counseled me taken in by the fiendish scam. (Check out more on who was swindled.)As the scale of the alleged scheme was realized, attention turned quickly to Madoff's connections to Washington regulators to blame for monitoring investment funds such as the one Madoff operated. He knew everyone, former SEC chairman Arthur Levitt said in the interview with The Associated Press. Levitt said he failed to invest any money with Madoff.The director for enforcement on the SEC, Linda Thomsen, said government entities was working with federal prosecutors as well as the FBI to understand true, "to pursue the case we have got, to preserve assets towards the extent we were able also to bring everyone who had been responsible for the conduct at the Madoff firm. It's justice," she said Monday.At one SEC hearing in April 2004 - in the period when Madoff is charged with carrying out his $50 billion fraud - he joked with then-commission chairman William Donaldson about their own extraordinary profits and teased that he wasn't inclined to supply any advice that might help his business rivals."Our firm has made a fairly decent living being a fast market competing with a slow market," Madoff said, "so I'm not sure it's in our own best interest for everyone to become a fast market." Commissioners laughed openly as Madoff agreed "to remove our selfish hats here and speak for your public good." As a former Nasdaq chairman, Madoff was a professional sought by Washington regulators who requested advice on any number of regulatory issues over the years. In 2000, Madoff served on the government's Advisory Committee on Market Information, established to protect investors by ensuring accurate and full public disclosure of knowledge to them.Financial analysts raised concerns about Madoff's practices repeatedly over the past decade, including one letter to the SEC as early as 1999 that accused Madoff of managing a Ponzi scheme, but the agency failed to conduct even a routine examination of the investment business until last week, The Washington Post reported on its Web site Monday night.Questions have been raised in two earlier cases in regards to the SEC's handling of investigations involving influential figures on Wall Street or powerful investment firms.The agency's inspector general, in the report issued this fall, said there were "serious questions" about the impartiality and fairness with the SEC's insider-trading investigation in 2004 and 2005 of hedge fund Pequot Capital Management. An old SEC attorney who done the probe and was fired by the business told Congress he was blocked by agency superiors when he tried to question John Mack, now chairman from the Morgan Stanley investment house.The SEC took no enforcement action within the Pequot case. The hedge fund and Mack have denied any wrongdoing.In another report, the inspector general, H. David Kotz, determined the head of the SEC's Miami office did not properly enforce securities laws inside the investigation of now-defunct Bear Stearns' pricing of complex investments it sold, and located that he shouldn't have closed the inquiry during the warm months of 2007 without enforcement action.Bear Stearns nearly collapsed out of business in March and was purchased by rival JPMorgan Chase with a $29 billion federal backstop.Recently, an administrative law judge in the SEC rejected Kotz's conclusions and the recommendation for disciplinary action against Thomsen, the agency's enforcement director, and 2 other officials inside the matters. The judge, Brenda Murray, wasn't acting in their own capacity as an administrative law judge but alternatively as an SEC official asked by the agency's executive director to gauge the inspector general's findings. mulberry logo
Sen. Barack Obama predicted Wednesday that Republicans have a dump truck full of dirt to unload on Hillary Rodham Clinton if the former first lady wins the Democratic presidential nomination, and said he provides party its best hope of winning the White House this fall. Clinton countered that she did.At a news conference about the morning after Super Tuesday, Obama offered some pointed advice to members of Congress and other party leaders that will attend the national convention come july 1st as delegates not chosen in primaries or caucuses.He stated if he finally ends up winning more delegates in voting than Clinton, they "would have to think long and hard about how precisely they approach the nomination when the people they claim to represent have said, 'Obama's our guy,"' he said.Clinton, in a later news conference at her campaign headquarters in Arlington, Va., said, "If voters will think about who would be the greatest president, to be commander in chief on Day 1, to turn the economy around and who be the best Democratic nominee to win in November, We are very comfortable with the solutions to those questions."Obama won primaries and caucuses in 13 states on Tuesday, including his home condition of Illinois. Clinton won eight states, including her adopted home state of New York. Obama and Clinton were within a tight race in New Mexico (Read more).Obama won 803 delegates and Clinton won 799 delegates from the 1,681 delegates at risk Tuesday, according a CBS News tally as of Wednesday evening. Overall, Clinton leads the delegate count, 1,058 to 984. It is possible to several dozen delegates to become allocated from Tuesday's contests. Click here to get the latest delegate tally. View All Super Tuesday Results Asked about Clinton's recent comment that they would not allow herself to become victimized by the type of Swift Boat-style attacks that were leveled against Sen. John Kerry from the 2004 race, Obama said he been vetted by his opponent inside the nominating campaign."I have to just respond by praoclaiming that the Clinton research operation is about as good as anybody's around," he said."I guarantee that having engaged in a contest against them going back year that they've removed all the stops. And you also know I think what's absolutely true is whoever the Democratic nominee will be the Republicans will go after them. The notion that somehow Senator Clinton is going to be immune from attack or there is not a whole dump truck they can not back up in a match between her and John McCain is just not true."Clinton said you'll find nothing in her past that she tries to play down or hide, such as the years she worked being a corporate lawyer for a Little Rock, Ark., lawyer. Her oft-cited 35 experience includes service "in the public, private and not-for profit sectors," she said.Regarding race between her and Obama, Clinton said, "This is really a vigorous two-person contest now. And I think it's only just become a two-person contest in the last, what, 10 days or so. Therefore I am hoping we will have more debates, we will be able to showcase our records, our qualifications, the differences, the contrast between us, because voters are actually tuning in now."CBS News correspondent Dean Reynolds reports that Clinton's campaign is pressing not less than four more debates, but that Obama has to date only committed to one. He explained debates soak up time he could spend on the trail.Obama also suggested there were several areas where he could learn better than Clinton against the Republicans within the fall."I have no doubt will be able to get the people who opt for Senator Clinton. ... It's not clear that Senator Clinton could get all the people I'm getting," he explained.Obama sought to get the permanent underdog's role within the race, saying the modern York senator is backed by a "political machine honed over 20 years."At the same time, he said the harder he appears before voters, the better he does on primary days.He was quoted saying he intends to campaign in america next up on the calendar - Louisiana, Nebraska and Washington vote on Saturday; Maryland, Virginia and also the District of Columbia on Tuesday. Clinton said she, too, were looking forward to the upcoming contests. Click this link to view the upcoming campaign calendar. mulberryoutlet
This story was written by Glenn Thrush and Martin Kady II. Republican Rep. Candice S. Miller says Obama had only one shot at Palin-proofing the Democratic ticket - and that he missed it whilst passed over Hillary Rodham Clinton as his running mate."Every woman in the usa knows what Obama did to Hillary Clinton: He checked out her and thought, 'There's not a way I'm doing that,'" said Miller. "If Hillary was about the ticket, he'd maintain a much better position to win women voters." Sarah Palin's presence - along with Clinton's absence - could possibly be altering one of the great verities of yank politics: that women voters overwhelmingly favor Democrats. A Washington Post-ABC News poll released now showed white women swinging hard against the Democratic ticket. Obama left Denver with the 8-point lead among white women; by time John McCain pulled out of St. Paul, Minn., with Palin at his side, he'd taken a 12-point lead. Former Clinton strategist and pollster Mark Penn said that it's too soon to know where women will end up in November, and he declined to engage in any "woulda, coulda, shoulda" speculation about how precisely things might be different if Clinton were on the Democratic ticket. But another former Clinton adviser, speaking around the condition of anonymity, declared the "Obama people have reached be kicking themselves" because of putting/choosing Clinton as his No. 2. Julia Piscitelli with the American University's Females and Politics Institute agreed. "I do not think Palin would be seeing this kind of gains if Hillary was around the ticket," she said. "When Obama picked Biden, it gave Republicans a job opening, and they are taking full benefit from it. ... The question is: The length of time will it last?" The solution, some Democrats say, isn't long. "I don't think this is a real swing <in>the polls] until this has been a week, said Sen. Claire McCaskill (D-Mo.), one among Obama's busiest female surrogates. "We'll need to see whether Sarah Palin would like to answer questions. ... No one will be a stronger advocate for Obama and Joe Biden than Hillary Clinton." Sen. Blanche L. Lincoln (D-Ark.) also sounded the Palin-will-wilt-in-the-spotlight theme. "Sarah Palin delivered an excellent speech, but we have not heard anything else by what she's going to do," Lincoln said. "American women are smart, they're bright and also this election isn't just about Sarah Palin. This is about what they want to do to the country." The Obama campaign has denied it has a serious problem with female voters. On Monday, campaign manager David Plouffe told a Washington Post reporter, "Your poll is wrong," adding, "We absolutely are not seeing any movement that way. Polls, time to time, particularly around the demographic stuff, will surely have some pretty wild swings." That view won support from two unlikely sources Tuesday: Penn as well as a Republican senator who backs the McCain-Palin ticket.Penn declared women are going to be "the absolute swing vote with this campaign, and it's not clear which direction they are going to go ahead. "I don't think it's a Hillary backlash we're seeing," he added. "With Palin around the ticket, we're going to be seeing this thing swing back and forth." Sen. Ak senate (R-Alaska), who has had a strained relationship with your ex state's governor, downplayed Palin's power. "I fight to believe that many of the Hillary supporters are likely to come over just because of Sarah Palin," Murkowski said. "It must be about strength of positions" and policy. But Sen. Susan Collins (R-Maine), who's locked in a tough race of her very own, says several women - former Clinton supporters - have fallen up to her in Maine to say Palin gives them a reason to back McCain. "I haven't seen such excitement inside the Republican Party as we're seeing as a result of Sarah Palin," Collins said. "I've a lot of Democrats and independent women in Maine who say they're pleased to see a woman on the ticket. Many of them saw an Obama-Clinton ticket as unbeatable. ... That is certainly significant and remarkable." Quinnipiac University Polling Institute Assistant Director Peter A. Brown said the Obama campaign is fooling itself whether or not this discounts the importance of the problem. "This isn't about Hillary; it's really down to Obama's problem with white women voters," he was quoted saying. "Hillary won about Ten million votes from women voters in the Democratic primaries - there are 52 million women voting in the general election." Clinton has stated she'll hit the trail for Obama, but her team says she refuses to be an anti-Palin "attack dog." Further complicating matters for Obama, Hillaryland fundraiser Susie Tompkins Buell is leading a bunch that will fight media sexism up against the Alaska governor.By Glenn Thrush and Martin Kady II mulberry shops
SOURCES: Lescano, C.M. Journal of Adolescent Health , September 2006; vol: 39 pp. 443e1-443e7. News release, Bradley Hasbro Children's Research Center and Brown School of medicine, Providence, RI. By Daniel DeNoon Reviewed by Michael Smith mulberry bayswater satchel
Danish police arrested multiple people Tuesday in a terror plot to kill among the 12 cartoonists behind the Prophet Muhammad drawings that sparked an uproar inside the Muslim world two years ago, authorities said.The arrests were created in pre-dawn raids in Aarhus, western Denmark, "to prevent a terror-related murder," police officers intelligence agency said. This didn't say how many individuals were arrested nor made it happen mention which cartoonist was targeted.The police intelligence chief said two Tunisians plus a Dane of Moroccan origin were arrested inside the alleged plot. Jyllands-Posten, the Danish newspaper that first published the drawings on Sept. 30, 2005, said the suspects were planning to kill its cartoonist, Kurt Westergaard."There were very concrete murder plans against Kurt Westergaard," said Carsten Juste, the paper's editor-in-chief.The cartoons were later reprinted by a range of Western publications, and they also sparked deadly protests in parts of the Muslim world.Islamic law generally opposes any depiction from the prophet, even favorable, for fear it could lead to idolatry.Westergaard's cartoon, which showed Muhammad wearing a turban shaped being a bomb with a lit fuse, was the most controversial.Westergaard, 73, and the wife Gitte, 66, have been living under police protection for over three months because of the murder plans, Jyllands-Posten said. It also reported that those arrested included both Danish and foreign citizens."Of course I fear for my life when the police intelligence service point out that some people have concrete promises to kill me. However have turned fear into anger and resentment," Westergaard said in a statement published on Jyllands-Posten's Site.PET, the police intelligence service, referred to as action "preventive," saying it chose to strike "at an early phase to avoid the planning and the undertaking of the murder." It said encounter did not change the general threat of terrorism in Denmark.Justice Minister Lene Espersen said the alleged plot was grounds for "great concern."The cartoon uproar during the early 2006 was Denmark's biggest crisis since Wwii. Danes watched in disbelief as angry mobs burned the Danish flag and attacked Danish embassies in Muslim countries including Syria, Iran and Lebanon.Jyllands-Posten was evacuated several times because of threats and posted guards at its office outside Aarhus plus Copenhagen.The paper initially refused to apologize to the cartoons, which it claimed it published in reaction with a perceived self-censorship among artists managing Islamic issues, but later stated it regretted that the cartoons had offended Muslims.The Danish government also expressed regrets to Muslims, while noting that it could not interfere with the freedom of the press.Kasem Ahmad, a spokesman for that Copenhagen-based Islamic Faith Community, a network of Muslim groups that spearheaded protests up against the cartoons in Denmark, said he hoped Tuesday's arrests would not rekindle the uproar."We urge Muslims to take it calmly," he told the TV2 News network.Two other cartoonists told The Associated press that police had advised them to never talk to the media.The Danish Journalists Union also urged these phones "keep a low profile," union v . p . Fred Jacobsen said."This can be a story that won't die. It's disgusting that people are exposed to death threats simply because they are doing their jobs," he explained.Danish investigators have foiled no less than two alleged terror plots because the cartoon crisis. Two Muslim immigrants plus a Dane who converted to Islam were sentenced to prison in November after being found guilty of plotting a terror attack.In the trial, prosecutors presented wiretap recordings with the defendants discussing possible targets, such as Jyllands-Posten offices. The defendants said these were just joking when discussing possible attacks.In September, eight citizens were arrested in what Danish intelligence said was obviously a crackdown on Islamic militants with links to senior al Qaeda leaders. Only two of them face preliminary charges.The rage over the caricatures resonated beyond Denmark. In Germany, two men were charged with planting bombs aboard a pair of German commuter trains in 2006 that failed to explode.One of many men, Youssef Mohammed el-Hajdib, a Lebanese citizen, is on trial in Duesseldorf. The next man, Jihad Hamad, was convicted in December in Lebanon and sentenced to 12 years imprisonment.El-Hajdib told the court yesterday that Hamad planned the attacks as revenge if you do German newspapers reprinted the Muhammad caricatures.Hamad, however, testified at his trial in Lebanon that el-Hajdib was the initiator in the failed plot. He was quoted saying el-Hajdib brainwashed him and exposed him to extremist videos and propaganda. mulberry outlets uk
Most of it happened outside "work" hours, however the nature of mobile e-mail meant lots of dismay as BlackBerry service took place across North America from Tuesday evening to Wednesday morning.By enough time the service sputtered back again, jamming the handheld devices having a torrent of delayed messages, grumbles was heard from the Canadian Parliament on the executive suite at JPMorgan Chase & Co."We all lost our data once we were in the House of Commons the other day. The sound of BlackBerrys being thrown from the desk was deafening for quite a while," said Garth Turner, a Liberal Person in Parliament known for his constant Internet blogging."Because it is now the de facto channel of communications around this place, it actually impacts around the government of Canada along with the work of the whole House of Commons."Research in Motion Ltd., the Canadian company that provides the devices and e-mail service, confirmed the outage Wednesday morning, but disclosed no information regarding the cause.The outage cut-off incoming and outgoing e-mail on BlackBerry devices in spite of which cellular company an individual buys the service from, indicating the situation originated at RIM's network data center in Canada.That facility serves as a hub for RIM's American traffic, routing messages between your roughly 8 million BlackBerry devices now available and the various causes of e-mail, from private corporate servers to Web-based accounts like Yahoo and AOL.CBS News technology consultant Larry Magid says the BlackBerry can be an obsession for some people, nevertheless for many it is a necessity. "People sometimes make reference to the BlackBerry as 'CrackBerry' as though people are addicted to it, and a lot of people are. <But> a lot of people usually are not desk-bound and as they go regarding their day — whether they're traveling or perhaps the office — they consider their BlackBerry constantly to make sure they're keeping up with their latest messages." "I actually know people who never check e-mail on his or her personal computer," Magid said. "They just use their BlackBerry as it's so convenient to provide an e-mail system that they can take with them with them in their pocket." The outage reverberated on Wall Street, too. RIM's stock price slid at Wednesday's open, but recovered and rallied, suggesting, perhaps, which a product that can provoke close to this much consternation holds an enviable position against emerging challenges from the likes of Microsoft Corp., Motorola Inc. and Nokia Corp.The stock rose $3.10, or 2.Four percent, to close at $134.37 in Wednesday trading for the Nasdaq Stock Market despite falling just $128.80 in the opening minutes.BlackBerry outages have been rare, although minor glitches occasionally cause delays in RIM's ability to deliver e-mail in real-time, maybe the most important feature in the service for many users. The very last two major disruptions have the symptoms of occurred nearly 2 yrs ago, both in June 2005.Nevertheless, even one outage is unbearable for a few. While many people rely heavily around the device as a lifeline if they are away from their computers, a lot more have simply grown accustomed, occasionally obsessive, about having the capacity to check their e-mail during the night and on weekends."It's been most inconvenient," said Dacrie Brooks, a publicity professional attending the annual convention in the National Association of Broadcasters in Sin city. "I've been using (my BlackBerry) for all my communications because I don't have access to my laptop between meetings.""It's been a difficult day because I'm missing things all over the place. That's not fun."The outage also was mentioned Wednesday morning throughout a conference call with the chief financial officer of JPMorgan, Michael J. Cavanagh, to discuss the bank's quarterly earnings, using the CFO noting that his device used to be on the blink.Other users shrugged in the disruption."My life wasn't affected in a serious way by the outage," said Dimitri Vorontzov, a courtship instructor for the personal coaching service Charisma Arts, noting that he's usually near some type of computer to fetch his e-mail anyway. "If you didn't tell me, I wouldn't have really noticed." mulberry accessories
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