Breakfast with Benjamin: JPMorgan's Madoff missteps, Prudential's bullishness, ETF inflows' lessons, gold bugs' squashed state and Kraft's Velveeta shortage warning. Plus: pot stocks vs. prison stocks.
This week: The ECB tries to accommodate, JPMorgan is fined again, and 'liquid gold' gets scarce.
Passive equity funds, noncore bonds, alternatives, and many of the fund shops that sell them fared well last year, while core bonds, commodities, and gold suffered.
Five ex-employees of Bernard Madoff on trial accused of aiding his $17 billion fraud seek to “embarrass” Securities and Exchange Commission witnesses by asking about bungled Madoff audits, prosecutors say.
Bernard Madoff's broker-dealer and proprietary trading units were backed by “hundreds of millions of dollars” in stolen money from his fraudulent investment advisory business, a jury was told in the trial of five former employees accused of aiding the $17 billion Ponzi scheme.
Five former employees of Bernard L. Madoff on trial for allegedly aiding his $17 billion Ponzi scheme were kept in the dark about the fraud and duped by his outsized personality and reputation, a jury was told.
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Breakfast with Benjamin: The Dow is getting dicey at these heights. Plus: Lawyers get rich on Madoff's mess, Volcker rule cuts prop trading, retirement back-up plans, and rich folks are spending less this holiday season.