Government Calls Madoff a 'Danger', Satyam Scandle Rattles India, SEC Reopens Pequot Probe
Prosecutors: Madoff Poses 'Danger' » According to a court motion made public yesterday, prosecutors are arguing that money manager Bernard Madoff poses a "danger to the community" and should go to jail pending his trial for allegedly running a $50 billion Ponzi scheme. — Wall Street Journal
Financial Scandal Rattles India » Satyam Computer Services chairman and co-founder Ramalinga Raju resigned yesterday after admitting to overstating profits at the outsourcing giant. The $1 billion fraud has raised fears that similar problems might lurk in other Indian companies, particularly in its vaunted outsourcing industry. — New York Times
Insider-Trading Probe Reopened » Two years after closing its investigation, the Securities and Exchange Commission is again exploring whether the $4.3 billion Pequot Capital Management fund had inside information when trading Microsoft shares in 2001. — Washington Post
Drug Industry Works to Polish Image » The pharmaceutical industry, confronting sluggish growth, low prestige and the prospect of more-aggressive government oversight, will voluntarily submit to a host of marketing restrictions in an attempt to preempt stricter regulations that lawmakers in both parties are pursuing. — Washington Post
Burris Finds Support » Former Illinois attorney general Roland Burris may be allowed to fill the Senate seat left vacant by President-elect Barack Obama, but he would be subject to an unusual vote by the full Senate before taking office. — USA Today
U.S., S. Korea Accused in Sex Trade » A group of former prostitutes in South Korea have accused some of their country's former leaders and the U.S. military of facilitating the sex trade with American soldiers who protected South Korea from North Korea. — New York Times
Sleeping Guards Cost Nuclear Plant $65,000 » The Nuclear Regulatory Commission (NRC) fined the Chicago-based Exelon Nuclear $65,000 after determining security guards at a Pennsylvania nuclear power plant were found sleeping while on duty on several occasions. — ABC News
O.C. Corruption Case Hangs on Star Witness » After months of testimony, national headlines and the profanity-laced audiotapes, the sweeping public corruption case against former Orange County Sheriff Michael S. Carona may end up coming down to the testimony of wealthy Newport Beach businessman and longtime Carona backer, Don Haidl. — L.A. Times
After the jump...
BEST OF THE REST
» Israel Accused of Blocking Aid to Wounded (WaPo)
» No Charge: In Civil-Contempt Cases, Jail Time Can Stretch On for Years (WSJ)
» FDA sends out more diet pill alerts; criminal charges possible (USAT)
» Army Sends 'Dear John Doe' Letters to Families of Fallen Troops (WaPo)
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