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Hedge Fund Swindler Arrested
NEW YORK - A hedge fund swindler who set off a national manhunt when he faked his suicide to avoid reporting to prison rode his scooter to a small-town police station in Massachusetts on Wednesday and turned himself in while talking to his mother on his cell phone.
Authorities say Samuel Israel III showed up at the police station in Southwick at about 9:15 a.m., after hiding out for the last three weeks in his RV. The U.S. Marshals Service had been in touch with the mother for several days as the feds zeroed in on her fugitive son.
“Obviously, she probably had some kind of influence, which mothers usually do,” said Frank Dawson, public information officer for the U.S. Marshals Service in Boston. “He knew they were getting close to him, so he probably did the right thing.” NEW YORK - A hedge fund swindler who set off a national manhunt when he faked his suicide to avoid reporting to prison rode his scoote... more -
Move public servants to rural Canada, Senate panel urges
In a sweeping report with 68 recommendations aimed at revitalizing rural Canada, senators also said a new Department of Rural Affairs ought be created; that financial support for a host of rural programs should be increased; and that hedge funds and commodity traders be investigated to see what, if any, role they are playing in driving up fuel and energy prices.
In a sweeping report with 68 recommendations aimed at revitalizing rural Canada, senators also said a new Department of Rural Affairs ... more -
Investment in Renewable Energy Reaches $100 Billion
Greetings, All -- A new report by the United Nations claims that high oil prices and an array of government incentives are leading to soaring rates of investment in renewable energy -- investment that reached $100 billion in 2007.
More importantly:
"The finance community has been investing at levels that imply disruptive change is now inevitable in the energy sector," says Eric Usher, Head of the Energy Finance Unit at the UN. Usher said the UN's "report puts full stop to the idea of renewable energy being a fringe interest of environmentalists. It is now a mainstream commercial interest to investors and bankers alike."
Download & read the 54-page document at:
http://www.unep.org/pdf/SEFI_report-GlobalTrendsInSusta...
-- Bill Brown
http://www.renewableenergyworld.com/rea/news/story?id=5...
Renewable Energy World/United Nations
May 6, 2008
Investment in Renewable Energy Reaches $100 Billion
Washington, D.C., United States [RenewableEnergyWorld.com]
High oil prices and an array of government incentives are leading to soaring rates of investment in renewable energy, according to the United Nations' annual "Global Trends in Sustainable Energy Investment" report.
The UN report calculates global investment capital flows into renewable energy companies reached $100 billion for the first time in history last year. More than $30 billion of the total was the result of mergers and acquisitions led by investment banks such as JP Morgan and Goldman Sachs.
"The finance community has been investing at levels that imply disruptive change is now inevitable in the energy sector," says Eric Usher, Head of the Energy Finance Unit at the UN. Usher said the UN's "report puts full stop to the idea of renewable energy being a fringe interest of environmentalists. It is now a mainstream commercial interest to investors and bankers alike."
The huge investment flows mean that IPO's, largely dormant since the heady days of the technology boom nearly a decade ago, are now re-emerging. A trio of solar companies went public with large returns in 2007, including JA Solar, Trina Solar and Solarfun Power Holdings.
William M. Brown
Sage West Consultants & The Climate Project
Energy Science, Law, Architecture
Arroyo Hondo & Taos, New Mexico
Email: nmglobalwarming@yahoo.com
Web: http://nmglobalwarming.org
Web: http://www.theclimateproject.org
_________________________________
from your friends at TouchArt.net and OneEarthBlog.blogspot.com
If you can invest, invest green.
Greetings, All -- A new report by the United Nations claims that high oil prices and an array of government incentives are leading to ... more -
Wall Street Winners Get Billion-Dollar Paydays
Hedge fund managers, those masters of a secretive, sometimes volatile financial universe, are making money on a scale that once seemed unimaginable, even in Wall Street’s rarefied realms.
One manager, John Paulson, made $3.7 billion last year. He reaped that bounty, probably the richest in Wall Street history, by betting against certain mortgages and complex financial products that held them.
Mr. Paulson, the founder of Paulson & Company, was not the only big winner. The hedge fund managers James H. Simons and George Soros each earned almost $3 billion last year, according to an annual ranking of top hedge fund earners by Institutional Investor’s Alpha magazine, which comes out Wednesday.
I find this sickening, how about you? As Confucius said, "In a country well governed, poverty is something to be ashamed of. In a country badly governed, wealth is something to be ashamed of. " Either way this country has something to be ashamed of, wouldn't you say? Hedge fund managers, those masters of a secretive, sometimes volatile financial universe, are making money on a scale that once seemed... more -
U.S. To Propose Sweeping New Powers for Fed
President George W. Bush's administration will propose sweeping new oversight powers for the Federal Reserve in a bid to avoid calamities like the current subprime crisis, The New York Times reported Saturday.
Citing a summary of the plan provided by the administration, the newspaper said the Fed will gain the power to investigate any activities of financial institutions that threaten US economic stability, gather information and combat risks to the financial system as a whole.
The plan will be proposed on Monday, the paper said.
The Securities and Exchange Commission would lose some of its authority and is likely to be combined with the Commodity Futures Trading Commission that regulates trade in gas, oil and other goods, the report said.
The report came as new statistics showed US consumer spending stalled in February despite rising incomes as Americans boosted savings amid recession fears.
A Commerce Department report showed a meager 0.1 rise in spending, the driver of growth in the world's biggest economy. The figure was the weakest since September 2006 and matched analysts' consensus forecast.
The proposal is due to be unveiled by the Treasury Department.
It is part of a sweeping blueprint to overhaul the nation's financial regulatory agencies, which many experts say failed to recognize rampant excesses in mortgage lending until after they set off what is now seen as the worst financial crisis in decades.
end.
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I don't know, this sounds kind of "new world orderish" to me. What do you think? Are they now using the mortgage meltdown to accumulate and shift more power? Oh, and the title quoted for Bush in the beginning of this is not my writing. I am quoting the article. Bush never was and never will be my president.
President George W. Bush's administration will propose sweeping new oversight powers for the Federal Reserve in a bid to avoid calamit... more -
Interview With A Hedge Fund Manager
It's not boring! I promise!
In fact, this interview -- in the cerebral literary journal n+1, of all places -- ends up explaining the sub-prime mess better than anything I'd read anywhere else.
There are some very interesting glimpses into modern financial markets here -- including a cool/scary bit about computer programs executing millions of trades automatically and algorithmically every day. It's not boring! I promise! ... more
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