Bernard Madoff Pleaded Guilty

NEW YORK –Bernard Madoff [70] pleaded guilty on Thursday to pulling off perhaps the biggest scam in the history of Wall Street. He was immediately taken off to jail in handcuffs to the delight of his seething victims. U.S. District Judge Denny Chin said that Madoff had the means to flee and an incentive to do so.

Bernard Madoff pleaded guilty to 11 charges against him with no deal with prosecutors, it means that he is under no obligation to disclose names and tell authorities where the money went. He is not believed to be cooperating with prosecutors.

“I am actually grateful for this opportunity to publicly comment about my crimes, for which I am deeply sorry and ashamed,” said Madoff

He said he accepted investors’ money but didn’t put it into the market. Instead, he sent them phony account statements showing that they were making money. It was a Ponzi scheme, or a pyramid, in which early investors are paid off with money taken in from later investors.

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Britney Spears Comeback Tour

britney-spears-comeback-tourLong time not hearing about Britney Spears, finally on Tuesday at the New Orleans Arena Britney blew her first concert as a part of comeback tour. Britney Spears’s comeback tour is getting rave reviews, after 5 years did not make any concert tour. Those rave reviews not only form fans but also from families and closest friends. Kickoff concert took place in Tuesday at the New Orleans Arena, the first stop on her 36-show tour for promoting her latest hit album “Circus”.

“The show was completely sold out and it was just incredible,” says the source. “Britney was just really happy.”

Kevin Federline and children (Preston and Jayden) also appear in this kickoff concert.

“He was there to support her as well,” says the source, adding that the boys stayed backstage because “it’s just too loud for them to watch.”
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British Business Secretary Attacked by Custard

In London (England), 29 years old woman arrested by police for her action throwing a custard on one of government employees. The victim was Peter Mandelson, the Business Secretary for British. The act was a protest against the expansion of London’s Heathrow Airport. Plane Stupid, a group that opposes airport expansion and aviation-related climate change, identified her as protester Leila Deen.

“It’s not right that someone like Peter Mandelson can stand up and talk about being green,” Deen said. “The only thing green about Peter Mandelson is the slime coursing through his veins.” Read the rest of this entry »

The Stimulus is Working

On Tuesday, President Barack Obama said that the country is already “seeing shovels hit the ground” in the first project to repair infrastructure funded through the Department of Transportation U.S. $ 787 billion stimulus bill.

Ray LaHood (Transportation Secretary) said: “The work starts today in Montgomery County, Maryland, where the crew of a work from one project to resurface the Maryland State Highway 650 – a very busy road, which has not been fully repaired in 17 years.”

The repaving of the contract will be a family business based in Pennsylvania, the infrastructure of America, said LaHood. He said the project will support 60 jobs. “And this is how we will get the country back on its feet,” said LaHood.
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AIG is close to U.S. Government Agreement

AIG (American International Group) is close to an agreement with the U.S. government conditions that facilitate their rescue, provide more equity and commitment to help pay the debt, a person familiar with the matter said on Saturday. The review would be the ultimate sign of how federal regulators have to adjust the package to rescue financial institutions deemed too big to fail as the economy and the markets get worse. The board of the troubled insurer will meet on Sunday to vote on the agreement, which could be announced when AIG reports its quarterly results Monday.

That would be just a few days after the government agreed to increase its stake in Citigroup Inc (C, Fortune 500) to 36 percent in a bid to further strengthen the financial giant that taxpayers had already poured billions of dollars. The revised agreement is expected to include AIG an additional commitment of about $ 30 billion, slightly more preferred in terms of an existing investment, and a lower interest rate on a government of $ 60 billion line of credit. The new commitment of equity would AIG (AIG, Fortune 500) ability to issue preferred shares to the government at a later date. Read the rest of this entry »

Sir Ferguson was delighted with Manchester United’s Draw Result

The match lines up is:
INTER: Julio César, Maicon, Chivu, Rivas, Santon, Cambiasso, Muntari, Zanetti, Stankovic, Adriano, Ibrahimovic

M. UNITED: Van der Sar, O’Shea, Evans, Ferdinand, Evra, Fletcher, Carrick, Park, Giggs, Cristiano Ronaldo, Berbatov

Cristiano Ronaldo and Ryan Giggs almost created an intriguing back at Old Trafford on March 11.
“I hope not score a goal not to bite,” said Ferguson.

“We deserved to win. We showed good composure and maturity. The second stage is at Old Trafford with our record and we have a good chance to win.”

United fielded a defense unknown, Jonny Evans has partnered with Rio Ferdinand and John O’Shea to the right into the last-16 clash at the San Siro.

International efforts are limited to second half of Zlatan Ibrahimovic and Esteban Cambiasso and home goalkeeper Julio Cesar, who was the most active of the two men between the posts.
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U.S Stocks Gain its Lowest level

Dow Jones and S & P 500 fell to levels not seen in almost 12 years Monday as investors continue to fear that government efforts to stem the recession will not be enough.

The Dow Jones industrial average (INDU) lost 250 points, or 3.4%, ending at its lowest point since May 7, 1997. The S & P 500 (SPX) index lost 26 points, or 3.5%, ending at its lowest point since April 11, 1997.

The Nasdaq composite (COMP) lost 53 points (3.7%). The index of fuel technology has remained better than the rest of the market so far this year, the closure of the lowest points since November 20, 2008.

“It is fear-based selling,” said Dave Hinnenkamp, CEO of KDV Wealth Management. “The fact that we are playing these minimum number of years he said he did not know where the bottom of this thing is.”

Stocks gained in the morning on reports that the government can increase its participation in Citigroup briefly calmly, as she fears that the troubled bank would be nationalized. But the early advance petered out quickly, as the concerns of recent weeks returned.

“It’s not just that nobody wants to buy now,” said Ron Kiddoo, chief investment officer for Cozad Asset Management. “The skepticism is back,” said Kiddoo. “I think we need to hear some optimistic talk of our leaders and soon.” Read the rest of this entry »