"Wallstreet" Reader

"Wallstreet" Reader

Life After Madoff's 'Big Lie'

Posted: 10 Dec 2010 07:43 PM PST

Two years ago, Bernard Madoff told his sons that his multi-billion-dollar business was "one big lie." That confession unleashed one of the biggest fraud investigations in history. Since then, the wheels of justice have turned slowly.

Illinois Seeks Wall Street Cash

Posted: 10 Dec 2010 07:27 PM PST

Times have gotten so tough for the Illinois state government that it has begun turning to Wall Street trading houses and hedge funds to help pay its bills.

Investors Punish Spain, Portugal Banks

Posted: 10 Dec 2010 06:04 PM PST

Shares in Portugal's banks fell after Moody's said it might downgrade them because of the country's gloomy economic outlook and government austerity measures.

Tenet Says Offer Undervalues Firm

Posted: 10 Dec 2010 05:08 PM PST

Tenet contends the Community Health Systems' $3,3 billion offer undervalues the company, a sentiment echoed by some industry experts who also question the compatibility of the two hospital companies.

Budget Deficit Hits $150.4 Billion

Posted: 10 Dec 2010 12:38 PM PST

The government ran its 26th straight monthly budget deficit in November amid wrangling over a package that would extend big tax cuts to Americans trying to recover from recession.

Two More Banks Fail; Total at 151

Posted: 10 Dec 2010 04:11 PM PST

Regulators seized two small banks in Michigan and Pennsylvania, marking 151 failures for 2010.

Web Attacks Test PayPal's Defenses

Posted: 10 Dec 2010 07:11 PM PST

The computer attacks against Visa, PayPal and other companies that cut off ties with WikiLeaks are testing businesses' digital preparedness for what has become a high-stakes cyber war.

After 3 Years, Pandit Comes Into His Own

Posted: 10 Dec 2010 06:36 PM PST

Three years ago, Citigroup's Vikram Pandit ascended to the bank's top job. Now, the U.S. has sold its shares, opening a new beginning for the bank and its CEO.

U.S. Eyes Madoff Kin as Probe Grinds On

Posted: 10 Dec 2010 03:38 PM PST

Federal prosecutors are ratcheting up pressure on one of Madoff's "back office" employees, Annette Bongiorno, to cooperate with their investigation as they try to bolster a potential criminal case against Madoff's brother and sons.

Bill Clinton Takes Center Stage

Posted: 10 Dec 2010 04:48 PM PST

Former President Clinton gave his endorsement to the tax deal reached between Obama and congressional Republicans, an appearance aimed at bringing more Democratic lawmakers on board.

Banker Kohn Sued by Picard

Posted: 10 Dec 2010 03:23 PM PST

The trustee overseeing the bankruptcy of Madoff's investment firm sued Austrian banker Sonja Kohn for $19.6 billion, accusing her of helping to prop up his decades-long Ponzi scheme.

Mexican Drug Lord Believed Killed

Posted: 10 Dec 2010 03:48 PM PST

Nazario "El Chayo" Moreno, one of the purported founders of the La Familia drug cartel, was presumed to have died during a battle with security forces.

Two Former Vitesse Executives Charged for Fraud

Posted: 10 Dec 2010 01:14 PM PST

The Justice Department charged the former CEO of Vitesse Semiconductor and another top executive with securities fraud.

Connecticut Seeks Data From Google

Posted: 10 Dec 2010 04:59 PM PST

Connecticut's attorney general demanded Google turn over consumer personal data inadvertently harvested from wireless networks by its street-mapping vehicles.

Local Bonds, 'Green' Homes Lose Out

Posted: 10 Dec 2010 01:25 PM PST

Provisions to help state- and local-government borrowing and a tax-credit boost for energy-efficient windows and doors are among measures that were left out of an $858 billion Senate tax bill.

Custer's Flag Is Sold for $2.2 Million

Posted: 10 Dec 2010 01:17 PM PST

The only U.S. flag not captured or lost during Custer's Last Stand at the Battle of Little Bighorn in southeastern Montana sold at auction for $2.2 million.

Hidden Medical Debts Can Kill Home Refis

Posted: 10 Dec 2010 02:52 PM PST

Two erroneous $11 doctor bills stopped Jeanne White from refinancing her home. Her case is hardly an isolated one.

U.S. Trade Officials to Press China

Posted: 10 Dec 2010 12:16 PM PST

Top U.S. trade officials will press their Chinese counterparts next week to ensure that the recent crackdown on counterfeiters will produce meaningful and long-lasting results, a trade official said.

Germany Vows Defense of Euro

Posted: 10 Dec 2010 05:23 PM PST

German Finance Minister Wolfgang Schäuble vowed that Berlin and other euro-zone governments would do whatever it takes to defend the common European currency.

Former Goldman Programmer Is Guilty

Posted: 10 Dec 2010 03:56 PM PST

Former Goldman Sachs Group computer programmer Sergey Aleynikov was convicted of stealing the bank's confidential source code for its high-speed trading system.