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Citi backs measure to help avoid foreclosures (Reuters)
[6 mins]
People taking the Long Island Foreclosure Tour arrive at a foreclosed home for sale in New Hyde Park, New York in this May 17, 2008 file photo. Citigroup could soon agree to principles that would let troubled borrowers save their homes through bankruptcy, sources familiar with the talks said on Thursday, while industry groups are easing their opposition to the plan. (Shannon Stapleton/Reuters)Reuters - Financial giant Citigroup Inc will support a proposal in Congress to rewrite U.S. bankruptcy law to help troubled mortgage borrowers avoid foreclosure, Chief Executive Vikram Pandit said on Thursday.
Prosecutors: Madoff was ready to send out $173M (AP)
[46 mins]
Wall Street investor Bernard Madoff, pictured in 2008, ordered his London-based company to transfer 100 million pounds to his US firm just weeks before his arrest on suspicion of massive fraud, it was reported Friday.(AFP/File/Don Emmert)AP - Prosecutors said Thursday that investigators found 100 signed checks worth $173 million in Bernard Madoff's office desk that he was ready to send out to his closest family and friends at the time of his arrest last month in what is alleged to be largest financial fraud in history.
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Prosecutors say Madoff was ready to send out $173M
Prosecutors: Madoff was ready to send out $173 million
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