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Citigroup Puts the Fun Back in Taking Huge Losses

Happy Pandit

A few months ago, the Bank for International Settlements, which acts as a bank for the world’s central banks, warned in its annual report that 'the financial sector needs to recognize losses' and 'adjust balance sheets to accurately reflect the value of assets'. We are starting to get a taste of what that means, and it’s not all bad.

Peregrine Founder Won't Have to Name Names in Plea Deal

Prison Window

Even though many suspect Peregrine Financial Group founder Russell Wasendorf Sr. had help pulling off a $200 million fraud, prosecutors are willing to let him plead guilty to reduced charges without saying who, if anyone, helped him.



China Flag

China April industrial output up 5.9% on year

China's Shanghai Composite index trimmed losses slightly to move back into neutral territory, while the Hang Seng index traded flat following the data.. China's central bank this week cut...