Daily News Channel
The grass is still green, the baseball diamond pristine. But the crack of the bat is gone, and the sizzle of a Dodger Dog is no more. For the first time in 61 years, Dodgertown, the spring training home of the Los Angeles Dodgers, is empty
The House of Representatives passed legislation Thursday to try to recoup bonuses paid to Wall Street executives with taxpayer money. The measure passed, 328-93; most Democrats supported the measure, while Republicans were sharply divided.
Federal prosecutors are seeking the forfeiture of Bernard Madoff’s four homes and other assets after Madoff’s guilty plea to masterminding a massive investment fraud. Madoff is in jail at the Metropolitan Correctional Center in lower Manhattan after pleading guilty to operating on the largest Ponzi schemes in history.
They are an odd couple politically: a liberal Democratic Senator from the Pacific Northwest, and a conservative Democratic Congressman from the South.
Troubled insurance giant AIG, already under fire for intending to pay out $165 million in bonuses and compensation, succumbed Sunday to congressional pressure, identifying banks that received chunks of the company’s billions in federal bailout funds last year. AIG, a recipient of at least $170 billion in federal bailout money , got an $85 billion loan from the Federal Reserve. The list released Sunday of “counterparties” that benefited from the bailout is topped by European banks Societe Generale and Deutsche Bank, which received $4.1 billion and $2.6 billion, respectively.
At 16, Rhandolf Fajardo reflects on his former life as a gang member. “My gang mates were the most influential thing in my life,” says Fajardo, who joined a gang when he was in sixth grade
Elisa Schindler says she is relieved her father, the late Rabbi Alexander Schindler, didn’t live to see the destruction caused by Wall Street swindler Bernard Madoff. “Here’s a man who dedicated his entire life to making the world a better place and contrast that with a man who didn’t do that,” she says
By most accounts, the showdown was pretty brutal. Many watching Thursday night’s “Daily Show” on Comedy Central felt that comedian-turned-media-critic Jon Stewart held bombastic financial guru and CNBC “Mad Money” host Jim Cramer’s feet to the fire.
After a week of pointed verbal barbs, host Jon Stewart sat face-to-face with financial analyst Jim Cramer on Comedy Central’s "The Daily Show" and continued the assault Thursday. Stewart blamed Cramer and cable network CNBC for being irresponsible cheerleaders in the lead-up to the stock market meltdown. Stewart, whose acerbic brand of satire centers largely on the political news of the day, has held Cramer’s frenetic, nearly cartoonish, stock-advice show, “Mad Money,” and other CNBC programming up as examples of an anything-goes attitude that contributed to the financial collapse.
The $50 billion Ponzi scheme allegedly masterminded by former Nasdaq chairman Bernard Madoff punctuated a miserable year for Wall Street in the worst possible way: by underlining, yet again, that savvy market-makers can harness arcane financial instruments as weapons of mass destruction. Left in Madoff’s wake are bankrupt investors, mortified regulators and a raft of unnoticed red flags.