Published on Tuesday, November 17, 2009 by admin DENVER – Federal regulators have accused four people and two companies of fraud in an alleged $30 million Ponzi scheme that lured 300 investors nationwide in purported eco-friendly investments. The Securities and Exchange Commission alleges Wayde McKelvy and Donna McKelvy, who were married, used their Centennial, Colo.-based company Speed of Wealth to find invest...

Published on Tuesday, November 17, 2009 by admin BOSTON  – Billionaire investor George Soros' hedge fund reported holdings of $6.2 billion during the third quarter, an increase of $2 billion, after taking a stake in automaker Ford and boosting his holdings in communications services stocks. According to a regulatory filing on Monday Soros Fund Management took a 7.3 million stake in Ford Motor Co (F.N) during ...

Published on Tuesday, November 17, 2009 by admin NEW YORK – Federal Reserve Chairman Ben Bernanke, in a rare comment on the U.S. dollar's value, on Monday acknowledged the currency's slump was causing some prices to rise, but said other factors restraining inflation were winning the day. While showing he was not indifferent to the dollar's slide, Bernanke said tight credit and a weak job market would weigh...

Published on Tuesday, November 17, 2009 by admin WASHINGTON  – U.S. President Barack Obama will hold a forum on job creation with U.S. business leaders on December 3 and then embark on a cross-country tour to discuss economic recovery, the White House said on Monday. Obama, who is currently traveling in Asia, said last week he would host the forum to devise ways to combat double-digit unemployment -- but did ...

Published on Tuesday, November 17, 2009 by admin BEIJING – President Barack Obama is opening his talks with China's leader by saying that strong dialogue between the U.S. and China benefit not just those two nations but the whole world. Obama and Chinese President Hu Jintao on Tuesday sat down for what the U.S. leader has called a "meeting of the minds." The topics for the meeting were expected to be the gl...

Published on Tuesday, November 17, 2009 by admin CHICAGO  – The Federal Reserve's low interest rate policy is meant to encourage investors to move into riskier assets in order to promote economic recovery, and there are no signs currently the policy is resulting in the build-up of a U.S. asset bubble, the central bank's number-two official said on Monday. Fed Vice Chairman Donald Kohn said the recent rise...

Published on Tuesday, November 17, 2009 by admin The Federal Reserve Bank of New York used a weak negotiating strategy that failed to wring concessions from AIG trading partners last year, allowing them to reap nearly $30 billion in payments from U.S. taxpayers, a government audit report said on Monday. The New York Fed had little room to maneuver after bailing out American International Group (AIG.N) in Septembe...

Published on Tuesday, November 17, 2009 by admin WASHINGTON — More than 15 million taxpayers may owe the government $250 or more because of how the IRS last spring set up President Barack Obama's tax break that was designed to help consumers spend the U.S. economy out of recession. Individuals with more than one job and married couples in which both spouses work may have to repay the government $400, either...