Monthly Archives: March 2011

On a Couple of Days in February — The Headlines Spoke Volumes and Show a Trend

February 3-4, 2011 •“SEC Sues Over Bug in ‘Quant’ Program,” Wall Street Journal, February 4, 2011, p. C1 –AXA SA agreed to pay $242 million to settle fraud charges that it hid material information from clients through the use of … Continue reading

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“Countrywide was one of the most admired companies in America, financial or otherwise. . . It probably made more difference in society, in the integrity of our society, than any company in the history of America.”

former Countrywide CEO, Angelo Mozilo, who paid $22.5 million to the SEC to settle federal charges that he misled investors about the nature of the risk in Countrywide’s loan portfolio.  Countrywide’s stock grew 25,000 percent over 25 years (from 1982-2007).  … Continue reading

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“When people frantically begin shredding sensitive documents and deleting computer files and smashing flash drives and chasing garbage trucks at 2 a.m. . . . It is not because they have been operating legitimately.”

U.S. Attorney (Manhattan) Preet Bharara on the activities of two hedge-fund managers who learned that they were under investigation for insider trading.  One texted the other, “I think u just go into office . . . shred as much as … Continue reading

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States Sales Tax for Internet Companies: The Saga Continues

Them’s fightin’ words! is closing its Irvine, Texas center because it has a dispute with the Texas state comptroller over $269 million that the controller says Amazon owes to the state in sales taxes for goods shipped to Texas … Continue reading

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“Monogamy, in my opinion, is a failed experiment.You eradicate Ashley Madison, you’re not going to eradicate infidelity. That’s what allows me to sleep at night. Do you think if you stop allowing divorce attorneys to advertise, we would stop people from getting divorced?” ”

Noel Biderman, CEO of Ashley, a “dating” website for married folks who aspire to adultery.   The company’s ad motto: “Life is short.  Have an affair.”  Mr. Biderman is married to a very nervous wife and has two children. The … Continue reading

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