Archive for January 9th, 2009

CEP Receiver Settles With 14 Ponzi Scheme Participants

The receiver in the CEP Ponzi scheme case has filed court papers to settle adversary proceedings against 14 participants who profited in the scam. In court since July 2007,  the case is not fully settled. Litigation against other participants is ongoing. Dozens of lawsuits were filed against CEP members. Settlement terms for the group of […]

U.S. Unemployment Hits 7.2 Percent, Highest Since ’93

U.S. Unemployment Hits 7.2 Percent, Highest Since '93

Employers slashed nearly 525,000 jobs last month, sending the unemployment rate to 7.2 percent, the highest level since 1993, the Labor Department said today. The numbers are just plain bad. In 2008 as a whole, the economy lost 2.6 million jobs. In December, “job losses were large and widespread across most major industry sectors,” the […]