As of 5:20 on Thursday evening (2/19), Robert Allen Stanford - the Texan billionaire whose firm has been accused of milking nearly $8 Billion from clients - has been located in Virginia. Just in case you haven't heard of him, this guy basically sold junk cd (certificates of deposit) to unknowing investors, from his base in Antigua. However, he was not arrested, just served with civil papers according to CBS news.
The Dow Jones industrial average is now at a 6 year low after closing at 7,465.95.
President Obama has signed the monumental $787 Billion economic stimulus plan, but unlike last year's $600 stimulus check, it is going to take months and years to feel the effects of this plan.
Bernard Madoff's wife apparently withdrew more than $15 Million from two accounts just days before he was arrested for running a decades-long Ponzi scheme.
Donald Trump's casino group has filed for bankruptcy protection - for the 3RD time. Although Donald only holds 25% of this company and opposed the move, his name is there so even the wealthy are feeling the economic crunch.
Lastly, the first major wave of federal refund checks will be deposited into bank accounts tomorrow morning. So if you filed your taxes before 12pm on February 5th, you should be in the black in a couple of hours. How's that for a stimulus?
-whatdabusinessis.com
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