NY Daily News: Couple charged in big Columbia University con split for Christmas: “The feds say the couple bilked Columbia by submitting $112,500 in invoices for a bogus spinal muscular study. At the time, Bzdil was managing the pediatric neurosciences department of the Neurological Institute of Columbia.
He signed off on an invoice Rinehart prepared in which she claimed to be a clinical manager for an international support group for people with spinal muscular atrophy, prosecutors say. She claimed to be paying a Columbia doctor for the study.
The couple spent $25,000 on the "Bzdil/Rinehart Wedding" at the Skytop Lodge in the Poconos on Sept. 15, 2007, FBI Agent Jose Charriez said in a criminal complaint.
Bzdil approved another $84,000 in reimbursements for a massive online buying spree on Amazon.com, Charriez said.
Charriez said particular favorites were Bliss products such as Mammoth Minty Scrub, All Around Eye Cream and Lovehandler.
"Lovehandler wages war on not-so-hard 'core' areas by unleashing extended release caffeine to help whittle the appearance of wiggly waists and pudgy tummies," its product description reads.
Bzdil and Rinehart each face 20 years in prison if convicted on fraud charges.”
Saturday, December 13, 2008
Bernard 'Bernie' Madoff: From Queens lifeguard to soaking fraud
Bernard 'Bernie' Madoff: From Queens lifeguard to soaking fraud: “BY LARRY MCSHANE NYDAILY NEWS STAFF WRITER
Saturday, December 13th 2008, 11:55 AM Feds say Madoff's Ponzi scheme was worst ever. Bernard Madoff, "Bernie" to his Wall Street pals and deep-pocketed investors, launched his financial career with $5,000 earned as a Far Rockaway lifeguard.
That was nearly a half-century ago. Today, investors with Madoff's firm are drowning after the former Nasdaq chairman admitted fleecing his customers of $50 billion.
Madoff, 70, was known as a quirky figure inside his company offices at Manhattan's Lipstick Building. Still, he was respected for his uncanny - and apparently illegal - ability to generate cash for his clients.
The Hennessee Group, which tracks investment performance, says Madoff's firm suffered just five down months in 13 years between 1993-2007.”
Saturday, December 13th 2008, 11:55 AM Feds say Madoff's Ponzi scheme was worst ever. Bernard Madoff, "Bernie" to his Wall Street pals and deep-pocketed investors, launched his financial career with $5,000 earned as a Far Rockaway lifeguard.
That was nearly a half-century ago. Today, investors with Madoff's firm are drowning after the former Nasdaq chairman admitted fleecing his customers of $50 billion.
Madoff, 70, was known as a quirky figure inside his company offices at Manhattan's Lipstick Building. Still, he was respected for his uncanny - and apparently illegal - ability to generate cash for his clients.
The Hennessee Group, which tracks investment performance, says Madoff's firm suffered just five down months in 13 years between 1993-2007.”
Shaun Donovan Named Secretary Of Department Of Housing And Urban Development By Obama
HuffPost - Shaun Donovan Named Secretary Of Department Of Housing And Urban Development By Obama: “CHICAGO — Promising a prominent role for his housing department, President-elect Barack Obama on Saturday named a Harvard-educated architect to lead an agency dealing with the mortgage mess that dragged the country into a recession.
With one in 10 U.S. homeowners delinquent on mortgage payments or in foreclosure, Obama said New York City housing commissioner Shaun Donovan will bring "fresh thinking, unencumbered by old ideology and outdated ideas" at the Housing and Urban Development Department to help resolve the housing and economic crisis.”
With one in 10 U.S. homeowners delinquent on mortgage payments or in foreclosure, Obama said New York City housing commissioner Shaun Donovan will bring "fresh thinking, unencumbered by old ideology and outdated ideas" at the Housing and Urban Development Department to help resolve the housing and economic crisis.”
The Pope And The Vatican Discover Qik and New Media
Look who's into New Media: The Pope and the Vatican. h2onewscrossmedia is the organization that uses the cell-phone-based live streaming online service called Qik.com. According to TechCrunch, they have more views than Ashton Kutcher!
Here's a video from their stream page:
Robert Scoble shared his thoughts with TechCrunch:
Here's a video from their stream page:
Robert Scoble shared his thoughts with TechCrunch:
As Qik’s first user, I find the service very cool, but I find that more and more I’m moving away from it for a few reasons:
1. cell phone video is cool at first, but then you keep finding areas where it doesn’t work well and you can’t get the HD quality you can get with a newer HD camera and YouTube, Facebook, SmugMug, or Vimeo.
2. The chat room sucks in comparison to Ustream, Stickam, or Kyte.tv.
3. You can’t use your laptop’s camera, your FlipCam, or other recorded video on the service. That’s why I’ve been showing up on Kyte.tv more lately.
4. The service and/or bandwidth sometimes goes away right in the middle of doing something important (like filming a press conference) and there’s often nothing you can do about it. While on Kyte I can switch to a recording and use the service just fine when the connection comes back up.
5. I like the player on Kyte better and it’s embedable in more places.
2. The chat room sucks in comparison to Ustream, Stickam, or Kyte.tv.
3. You can’t use your laptop’s camera, your FlipCam, or other recorded video on the service. That’s why I’ve been showing up on Kyte.tv more lately.
4. The service and/or bandwidth sometimes goes away right in the middle of doing something important (like filming a press conference) and there’s often nothing you can do about it. While on Kyte I can switch to a recording and use the service just fine when the connection comes back up.
5. I like the player on Kyte better and it’s embedable in more places.
But, Qik is better for many uses and I still use it from time to time to take videos of my family because it’s easier to use for many personal things. I hope that 2009 brings lots of upgrades to Qik so I can use it for more than just my videos of my family.
Friday, December 12, 2008
Bernard L. Madoff - Questions Are Raised in Madoff’s Massive Fraud - NYTimes.com
Questions Are Raised in Trader’s Massive Fraud - NYTimes.com: “For years, investors, rivals and regulators all wondered how Bernard L. Madoff worked his magic.
But on Friday, less than 24 hours after this prominent Wall Street figure was arrested on charges connected with what authorities portrayed as the biggest Ponzi scheme in financial history, hard questions began to be raised about whether Mr. Madoff acted alone and why his suspected con game was not uncovered sooner.
As investors from Palm Beach to New York to London counted their losses on Friday in what Mr. Madoff himself described as a $50 billion fraud, federal authorities took control of what remained of his firm and began to pore over its books.”
But on Friday, less than 24 hours after this prominent Wall Street figure was arrested on charges connected with what authorities portrayed as the biggest Ponzi scheme in financial history, hard questions began to be raised about whether Mr. Madoff acted alone and why his suspected con game was not uncovered sooner.
As investors from Palm Beach to New York to London counted their losses on Friday in what Mr. Madoff himself described as a $50 billion fraud, federal authorities took control of what remained of his firm and began to pore over its books.”
BANK OF AMERICA PLANS TO CUT 30,000+ JOBS OVER NEXT 3 YEARS AFTER MERRILL LYNCH PURCHASE - New York Post
BANK OF AMERICA PLANS TO CUT 30,000+ JOBS OVER NEXT 3 YEARS AFTER MERRILL LYNCH PURCHASE - New York Post: “Bank of America said yesterday it plans to eliminate 30,000 to 35,000 jobs over three years after it completes its purchase of Merrill Lynch.
The cuts could affect about 11 percent of the combined companies' roughly 308,000-person work force. BofA employs about 247,000 people and Merrill about 61,000.
BofA said the expected cuts reflect the pending merger, as well as "the weak economic environment, which is affecting the level of business activity."”
The cuts could affect about 11 percent of the combined companies' roughly 308,000-person work force. BofA employs about 247,000 people and Merrill about 61,000.
BofA said the expected cuts reflect the pending merger, as well as "the weak economic environment, which is affecting the level of business activity."”
AIG MAY NOT PAY BACK $60 BILLION TO GOVERNMENT AS PROMISED IN BAILOUT PLAN - New York Post
AIG MAY NOT PAY BACK $60B TO GOV'T AS PROMISED IN BAILOUT PLAN - New York Post: “Uncle Sam may not get paid back as promised in its $150 billion bailout of American International Group, the giant insurer conceded.
AIG had agreed as a condition of its recent government lifeline to escape bankruptcy that it would repay at least $60 billion by selling valuable assets.
However, CEO Ed Liddy admitted yesterday that it may not be that easy to raise the cash.”
AIG had agreed as a condition of its recent government lifeline to escape bankruptcy that it would repay at least $60 billion by selling valuable assets.
However, CEO Ed Liddy admitted yesterday that it may not be that easy to raise the cash.”
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