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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.

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Millionaires control 41% of world's wealth

Millionaires are expected to control 46 percent of the world's personal wealth by 2019, up from 41 percent Monday, suggesting that the wealth gap will continue to widen, according to a new study.