Former Bear Stearns managers acquitted
Two former Bear Stearns hedge-fund managers have been acquitted of lying to investors about the implosion of the subprime mortgage market.
A Brooklyn jury found Ralph Cioffi and Matthew Tannin not guilty Tuesday on all counts of conspiracy and fraud. It was the first criminal case to hit Wall Street amid the housing meltdown.
Prosecutors claimed the pair hid warning signs that their funds were about to implode and that the fraud cost 300 investors about $1.6 billion.
5 percent in U.S. plan to buy a home
Just 1 in 20 Americans say they plan to buy a home in the next year, and they're most likely to be 34 years old or younger and living in the South or West, a survey released today shows.
Roughly one-quarter of potential buyers said the No. 1 reason they would buy now is because prices have bottomed out. That reason topped bargain-priced foreclosures, worries about rising interest rates and a wide selection of homes.
The survey conducted for Move.com reveals how Americans are responding to the fragile recovery.
FedEx predicts busiest shipping day
FedEx Corp. forecasts it will ship 13 million packages on Dec. 14, which it expects to be its busiest day this year.
That would be up more than 8 percent from the total of about 12 million packages shipped on its peak day in 2008.
A wire report
Email
Facebook
Google
Twitter
Favorites
More
Advertisement
Advertisement