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Madoff witness says he feared for safety

Harry Markopolos, a former financial executive who tried to expose the alleged swindler Bernard Madoff, will tell lawmakers he feared for the safety of his family when U.S. securities regulators ignored evidence in the case, according to a prepared testimony that has been leaked.

Madoff witness feared for safety

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Harry Markopolos, a former financial executive who tried to expose the alleged swindler Bernard Madoff, will tell lawmakers he feared for the safety of his family when U.S. securities regulators ignored evidence in the case, according to a prepared testimony that has been leaked.

Obama on cabinet setbacks: 'I screwed up'

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Following a series of scandals that forced one of Obama's most important nominees to withdraw, questions have been raised over the new president's central campaign pledge to change corrupt politics.
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Chorus of opposition to U.S. protectionism grows

Japan's Prime Minister has joined the European Union, Canada and President Obama in criticizing possible protectionist trade policies on American goods being discussed as part of the U.S. economic stimulus plan.
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Tom Daschle withdraws as cabinet nominee

Former senate leader, Tom Daschle withdrew his nomination to be President Barack Obama's Health and Human Services secretary on Tuesday, saying he did not want to be a distraction.
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UBS mulled selling U.S. brokerage to Morgan Stanley

Swiss bank UBS held talks with Morgan Stanley late last year about a sale of its U.S. brokerage arm -- a unit UBS acquired in 2000 for $11.8 billion formerly known as PaineWebber -- according to a report in the Financial Times Tuesday.
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UBS, Morgan Stanley held talks on brokerage sale

Swiss bank UBS held talks with Morgan Stanley late last year about a sale of its U.S. brokerage arm -- a unit UBS acquired in 2000 for $11.8 billion formerly known as PaineWebber -- according to a report in the Financial Times Tuesday.
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Phelps caught hitting Marijuana

The 23 year old Olympic gold medalist and Towson native Michael Phelps apologized for regrettable behavior after a photo of him smoking a marijuana pip
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Obama nominates Ron Sims for HUD

President Barack Obama announced Monday that Ron Sims will be nominated as deputy secretary of the U.S. Department of Housing and Urban Development.
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U.S. refiners, workers extend talks to avert strike

Suspense over a possible strike at U.S. refineries continued as the United Steelworkers union prolonged talks with companies on Monday for a new contract involving thousands of workers across the country.
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Mattel 4Q profit drops, misses forecasts

Mattel Inc. the world's largest toy maker said its fourth quarter profit fell 46 percent compared to the same period last year and far below forecasts. Analysts attributed the losses to a stronger dollar and a weak holiday season not seen in decades.
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What really is a 'bad bank'?

There is talk among top U.S. officials about a partial solution to the current financial crisis which involves creating a so-called 'bad bank,' but what exactly is the concept behind it?

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