Bernard Madoff was able to pull off what is allegedly the largest investor fraud in history because people trusted him.
The moves reflect Mr. Obama’s desire to have the money available shortly after he takes office Jan. 20, Tommy Vietor, spokesman for the office of the President-elect, said in an interview yesterday.
Arguing that Bernard L. Madoff is a “danger to the community,” prosecutors recommended that he be held in jail pending his trial.
President-elect Barack Obama asked Congress to pass his proposed $1 trillion American Recovery and Reinvestment Plan quickly.
Just 10 days before his arrest, Bernard Madoff received $250 million from a financial backer in an apparent bid to prevent the collapse of his firm.
President-elect Barack Obama intends to retain FDIC Chairman Sheila C. Bair in her post, Democratic Party officials told The Wall Street Journal.
The Municipal Securities Rulemaking Board on Friday proposed a partial delay in the launch of its new transparency system for short-term securities after many in the industry said they need more time to implement the system.
Issues that affect the retail segment of the financial services industry may not win immediate attention from Congress and President-elect Barack Obama’s administration.
