US and UBS reach deal
The U.S. government and Swiss bank UBS have reached an agreement in a case seeking names of approximately 52,000 names of suspected American tax evaders. The governments have initialed agreements and will later sign a final accord, Justice Department lawyer Stuart Gibson told U.S. District Judge Alan Gold in Miami today, Bloomberg reported.
Home prices slump a record 15.6 percent
The National Association of Realtors said on Wednesday that home prices continue to drop in more than 80 percent of urban areas in a recent survey reported lower home prices than a year ago. The median price of an existing single-family home dropped to $174,100 or 15.6 percent, the most in records dating to 1979, the Association said.
Frank DiPascali admits guilt
Frank DiPascali, the former CFO of Ponzi scheme author, Bernard Madoff, pleaded guilty to 10 criminal charges at a hearing in federal court in lower Manhattan in New York on Tuesday and was immediately sent to jail. I'm standing here to say that from the early 1990s until December 2008, I helped Bernie Madoff and other people carry out a fraud, DiPascali told U.S. District Judge Richard Sullivan.