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Posted
Jul 20 2009, 01:19 PM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
 Bernie Madoff's new prison mates are eyeing him closely, and some want to beat him a little bit to up their prison rep, the New York Post reports.
"Some of the guys were talking about smacking him around a little, just to get the notoriety of it," the Post reports, quoting someone who has a relative in the same Butner, N.C., lockup.
But others are impressed by Madoff and the way he has handled himself, the Post reports. That's because Madoff didn't rat anyone else out in his massive Ponzi scheme. He took the fall for the whole operation.
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Posted
Jul 29 2009, 10:39 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
 Bernie Madoff has given his first prison interview, and tells a lawyer that he still can't believe he got away with the massive Ponzi scheme that robbed thousands of people who thought they were making smart investments.
"There were several times that I met with the SEC and thought, 'they got me,'" Madoff reportedly told a lawyer who is representing some of the victims. The lawyer is threatening to sue Madoff and his family on behalf of the victims, reports ABC News. Madoff likely gave the prison interview to try and get the lawyer to back away from his family. The lawyer, Joseph Cotchett, said Madoff is looking good and appears to be working out. Madoff is serving a 150-year sentence in a North Carolina prison. Cotchett also said that Madoff cares about his wife, Ruth, but doesn't have much interest in his two sons, Mark and Andrew.
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Posted
Jul 08 2009, 06:00 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
Bernie Madoff has hired a consultant to help him land the best possible place to spend the rest of his life. Madoff, who received a 150-year jail sentence for his fraudulent Ponzi schemes, could even end up in the notorious "Supermax" jail in Florence, Colo., the Times Online reports. That's because his long sentence puts him in a more hard-knuckled prison category than most white-collar crimimals, the Times adds. "He could be forced to mingle with murderers, rapists, drug-dealers and white supremacist gangs with a hatred of Jews," the Times writes.
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Posted
Jun 29 2009, 09:56 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
Bernard Madoff, the financier whose fraudulent schemes ruined lives and destroyed charities, is set to spend the rest of his life in prison. A judge sentenced Madoff to 150 years Monday -- the maximum sentence allowable for his crimes.
Prosecutors had asked for the maximum, while Madoff's attorneys wanted only 12 years. The judge, who described Madoff's scheme as "extraordinarily evil," clearly wanted to send a message while ensuring that the 71-year-old man will never taste freedom again.
Cheers and applause reportedly broke out in the courtroom after the sentence was announced -- a response that shows how badly people wanted Madoff to pay for his actions. Madoff apologized before the sentencing, saying he “will live with this pain, this torment, for the rest of my life.”
So one man who abused the system shuffles off to jail, and will probably be forgotten soon. I wonder if anything has changed as a result of his crimes or his sentence.
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Posted
Jun 24 2009, 11:26 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
 Retirees in Germany were so upset with their financial adviser that they ambushed him outside his home and beat him with their walkers, the adviser claims. Then they taped his mouth closed and hauled him into a car.
"It took them quite a while because they ran out of breath," the financial adviser, James Amburn, told the U.K.'s Daily Mail. The kidnappers ranged in age from 60 to 74.
Amburn said they eventually got him to a house, where they chained and tortured him for four days. Two retired doctors also reportedly participated.
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Posted
Apr 18 2008, 01:05 PM
by
Robert Walberg
Rating:
Money Blog: Top Stocks Blog - MSN Money
Hard to believe but there's actually something uglier than Crocs' shoes -- the performance of its stock. This one-time fave of momentum traders has seen its share price plunge by 86% over the last six months alone. The most recent bloodbath came earlier this week when the company guided sales and earnings estimates sharply lower.
For investors the question is simple -- were Crocs merely a fad, or is the company and the brand merely experiencing some very nasty growing pains? How you answer that question will determine if you think the freefall represents an interesting long-term growth opportunity, or if there's simply more room to short the stock on its way to fad junk heap along with Snapple, Krispy Kreme and Zubaz (no they aren't making a comeback!!).
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Posted
Aug 01 2008, 08:00 PM
by
Andrew Horowitz
Rating:
Money Blog: Top Stocks Blog - MSN Money
 There is plenty of fun in store for this week. The markets have not been taking kindly to missed earnings these days, so why not get right down to some of the ideas you should be looking at as potential opportunities to make a few bucks.
Monday, August 4
If you are looking for a complete disaster, consider the fundamental and technical’s for Nam Tai Electronics. Earnings have been slowing considerably over the last several quarters and sporting a P/E ratio of 12 against an annual growth rate of -3% doesn’t provide much incentive to purchase shares. Add to that the fact that volume has been spiking on share declines and it is no wonder that the trend has been negative. Even though the technology sector has been somewhat stable throughout this recent market fiasco, there’s always an exception. Analysts are looking for $.17 per share of profit on $140 million of revenue.
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Posted
Jun 30 2009, 11:50 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
Government negligence pretty much caused the current financial crisis, writes Joe Nocera of The New York Times. Does that mean we can sue the government for our losses? No, he says.
In other words, victims of Bernie Madoff's schemes need to just get over it and stop suing the Securities and Exchange Commission for failing to uncover the fraud, Nocera writes. If the SEC were liable for anything here, then taxpayers would be the ones paying Madoff victims. "This is not 9/11," he adds.
It's a pretty tough column saying all kinds of things that Madoff's former clients don't want to hear right now. They are responsible for their own financial gullibility. When something sounds too good to be true -- like the returns Madoff promised investors -- it probably is.
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Posted
Aug 14 2009, 02:49 PM
by
Minyanville
Rating:
Money Blog: Top Stocks Blog - MSN Money
This article was written by Minyanville's Mike Schuster with additional reporting by Nico Carbellano.
This has been a high-profile week for cyber criminals. An as-yet-unidentified cyber thief made off with the identities of some 500 dewy-eyed journalism-school applicants by breaking into the UC Berkeley server. Twitter -- the inexplicably popular, profoundly useless social networking site -- was taken offline for the second time, along with Facebook, in as many weeks by the same kind of hack that took down Google (GOOG) last year. And British hacker Gary McKinnon -- accused of pulling off the biggest military computer hack of all time, to the tune of $800,000 -- lost an appeal to avoid extradition to the United States. He'll therefore be tried stateside, where we don't take kindly to this sort of thing.
Despite the scale of these network outages, they can't hold a candle to those affected by some of our more ambitious computer hackers. Click here to view 10 of the costliest cyber crimes of all time.
The business of computer hacking is certainly booming, with hack-related losses totaling a staggering trillion dollars per year worldwide. In February, Ponemon Institute conducted a survey to determine the average loss a business incurs when it suffers a security breach. Reviewing cases from 43 organizations, the group finalized a figure: $6.6 million.
Bing: Cyber criminals
While that might seem like small potatoes for megacorporations like Wal-Mart (WMT) or Best Buy (BBY) -- which experienced data leaks in 2006 and 2007, respectively -- the cost of clients' files being released into the hands of a nefarious hacker could ruin a smaller company.
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Posted
Jul 30 2009, 11:00 AM
by
Kim Peterson
Rating:
Money Blog: Top Stocks Blog - MSN Money
 All it took was a little nudge, and now tax evaders are practically lining up to confess to hiding money from Uncle Sam.
President Obama said last May that the government would go after people who skipped paying taxes by tucking undeclared money in overseas accounts. That scared the daylights out of some wealthy Americans, who have begun filing requests with the Internal Revenue Service to disclose their shenanigans, The Wall Street Journal reports. The requests have flooded in so quickly that the IRS now offers a three-page form to expedite the truth-telling. If only all confessions were this easy!
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