Madoff on his way to 150-year prison cell
Jailed author of the biggest Ponzi scheme in U.S. history is on his way to the prison where he will serve his 150-year jail sentence a U.S. prison official said. Madoff was sentenced on June 29 for orchestrating a $65 billion worldwide fraud.
CIT in talks with regulators, shares plunge
CIT Group Incorporated officials spent the weekend trying to work out a plan assure clients and investors it can work its way out of a deepening liquidity crunch. The groups plunged Monday despite U.S. Treasury Secretary Timothy Geithner's indication of possible help for the ailing company. Shares fell 23 percent on Monday.
Portion of Facebook employee stock to be sold for $100 million
Facebook employees are able to get $14.77 per share which will value the company at $6.5 billion. Russian Investment firm, Digital Sky Technologies, will but approximately $100 million facebook stock according to reports from Bloomberg.