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Stupid Crimes of the Week, Continued
This week, we've seen three examples well-known, successful professionals being charged with committing absolutely mind-bogglingly stupid crimes. Rich white men throwing it all away for nothing. It's officially a trend. First, we witnessed the New York lawyer Marc Dreier being arrested after impersonating another lawyer in what has to be one of the most bizarre and fascinating fraud cases in recent history. Charged with swindling hedge funds out of hundreds of millions of dollars, Dreier was denied bail on Thursday after prosecutors called him "an enormous risk of flight." Then we had Chicago. Oh, Chicago, your corrupt politicians never cease to captivate the country! Governor Rod Blagojevich was charged with brazenly soliciting bribes in his quest to fill the Senate seat vacated by President-elect Barack Obama. And now, we have Bernie Madoff. The president of Bernard L. Madoff Investment Securities, the 70-year-old Wall Street trader was arrested by the F.B.I.
Portfolio

Stocks extend losses amid worries about automakers
NEW YORK (AP) -- Wall Street saw early selling pressure ease Friday following word from the Treasury Department that it would step in to prevent a collapse of the nation's Big Three automakers. Stocks came off their early lows but selling continued for a second session....
The Arizona Republic

Prudential Real Estate and Relocation Units Integrate for Economies of Scale (Business Wire)
IRVINE, Calif.----Prudential Financial [NYSE: PRU] is further integrating its Real Estate and Relocation businesses to deliver better value to clients. Prudential veteran Earl Lee has been named to the newly established role of president of Prudential Real Estate and Relocation Services, reporting to chief executive Officer John Van Der Wall.
yahoo.com

Financials suffer on USB writedown warning
Financial stocks led an afternoon retreat on Wall Street on Thursday after a warning from US Bancorp heightenend concerns that the forthcoming earnings season would bring heavy writedowns
FT.com

GM Seeking Bankruptcy Counsel, Report Says
(CEP News) General Motors (GM) is seeking legal counsel on bankruptcy protection, according to a Wall Street Journal Report.
simplyhired.com

Wall Street hurt by auto bailout anxiety and financials (Reuters)
Stocks fell on Thursday on dimming prospects for an automaker bailout, while bleak comments about the banking sector from JPMorgan's chief executive prompted investors to sell financial shares.
yahoo.com

Brazil, Mexico Give Up Advances As Wall Street Slides
, across Latin America, Banco de Chile "has not been able to join" monetary authorities in other parts of the world "and cut interest rates, in our view, mainly because of continuous inflationary p...
bignewsnetwork.com

Economists split on bailout, stimulus impacts down the road
There is plenty of business impetus behind the Wall Street and automakers bailout and political backing including from President-elect Barack Obama for a public works, construction-oriented economic stimulus package akin to the New Deal.
bizjournals

U.S. stocks fall after trade and unemployment data
Wall Street slipped as investors weighed a lower sales outlook and a widening trade gap that could spell trouble for American businesses.
CBC.ca

MSP to issue paperless boarding passes
Travelers at the Minneapolis-St. Paul International Airport will soon be able to use downloaded electronic boarding passes on their cell phones or personal digital assistant devices as they pass through security and get onto airplanes, the Transportation Security Administration will announce Friday. (DAL)
Bizjournals.com

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