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December 29th, 2008
01:18 PM ET

Financial Dispatch: Statutory theft at Madoff estate

Program Note: Be sure to tune in to watch Ali Velshi, CNN's Chief Business Correspondent, discuss the implications of Madoff's offshore accounts tonight on AC360 at 10pm ET.

Gene Bloch
Managing Editor
CNN New York

Karma or coincidence? Police in Palm Beach, Florida, say one or more burglars recently broke into the estate of accused Ponzi schemer Bernard Madoff and made off with a statue worth more than $10,000. The statue portrays two lifeguards sitting on a bench, according to police. "The property manager left the residence one afternoon, and when she returned, she noticed a statue that was normally kept by the pool was missing," Palm Beach Police Sgt. Richard Sorge told CNN.

There are no leads to report.

Meanwhile, we may soon know a lot more about where Madoff put those billions of dollars he was supposed to be investing for his clients. A federal judge has given Madoff a December 31st deadline to provide a written accounting to the SEC of “all assets, liabilities and property” including “bank accounts, brokerage accounts, investments, business interests, loans, lines of credit, and real and personal property.”

FULL POST


Filed under: Barack Obama • Finance • Gas Prices • Gene Bloch
December 29th, 2008
01:12 PM ET

Kennedy to NYT reporters: 'You should write for women's mags'

Nicholas Confessore and David M. Halbfinger
The New York Times

Caroline Kennedy, the woman who would be New York’s next senator, is sure of one thing. Among all the hopefuls seeking to succeed Senator Hillary Rodham Clinton, she said on Saturday, there is no better choice.

“I wouldn’t be here if I didn’t think I would be the best,” Ms. Kennedy said, sitting in the back room of an Upper East Side diner around the corner from her home.

After weeks of criticism that she had not opened up to the public or the press, Ms. Kennedy has embarked on a series of interviews. But in an extensive sit-down discussion Saturday morning with The New York Times, she still seemed less like a candidate than an idea of one: forceful but vague, largely undefined and seemingly determined to remain that way.

Read More...


Filed under: Caroline Kennedy • Raw Politics
December 29th, 2008
12:08 PM ET

Madoff's cash stash

Program Note: Be sure to tune in to watch Ali Velshi, CNN's Chief Business Correspondent, discuss the implications of Madoff's offshore accounts tonight on AC360 at 10pm ET.

Laura Italiano
The New York Post

Investigators believe that Bernard Madoff has stuffed hundreds of millions of dollars in Ponzi profits into offshore tax havens from which they could prove tricky to recover.

In the weeks since his Dec. 11 arrest, forensic accountants have been scouring Madoff's books as federal officials ready an indictment against the hated hedge-funder, who remains under house arrest in his $7 million Upper East Side penthouse.

Read More...


Filed under: Crime & Punishment • Finance
December 29th, 2008
11:09 AM ET

Murders among black teens spike

Gary Fields
The Wall Street Journal

Murders of African-American teenagers have risen 39% since 2000 and 2001, according to a report due out Monday.

Homicides in which blacks ages 14 to 17 years old were the victims rose to 927 over the two-year period of 2006-07, the last years for which statistics are available, compared with 666 during 2000-01, according to the study by criminal-justice professors at Boston's Northeastern University. The 39% increase is much greater than the rise in overall homicides, which jumped 7.4% from 2000-01 to 2006-07.

Murders rose among black teens in 2006 and 2007 as overall homicides dropped compared with the previous year. And the 2000-07 rate of increase among black teens was more than twice the rate of increase among white teens, the study found.

The data confirm a pattern identified earlier this year by The Wall Street Journal, which found that while most communities in the U.S. were seeing a decline in homicides, many African-American neighborhoods were continuing to see an increase.

Read More...


Filed under: Gun Violence • Race in America
December 29th, 2008
10:34 AM ET

The Shot: Jib-Jab year ender

The folks at Jib-Jab are at it again. Check out some of their 2008 year in review.


Filed under: T1 • The Shot
December 29th, 2008
10:17 AM ET

Sound Off: Your comments

AC360° viewers commented on the housing bailout saying it should preserve the existing housing and not give them a bailout to build more. Viewers were outraged over the song “Barack the magic Negro” and viewers also complained about the new flashing graphics on the screen during the show.

Here's a sample of the emails and blog comments we received on Friday:

Positively the housing building industry should not be bailed out. Housing has been so overbuilt in the past ten years that much was not marketable before the crisis. It is time for this industry to direct its efforts toward preserving the existing housing stock capable of sheltering the entire population.

I am a constant viewer of this program, but the new change in graphics is so distracting and annoying that I find it is causing me to consider changing to another channel. Particularly annoying is the little rectangle in the bottom right hand corner that keeps flashing back and forth to ac360.com. At times there are several different pictures on the screen against a moving background in blue and white. With everything going on, it is hard to concentrate on the program. PLEASE bring back your old format!

Please report on the outrageous song being used by an RNC candidate...it is hateful and horrible....Obama is our next President!!! I am so insulted...and don't sugar coat it...let people hear the song...once they hear it, I don't think they'll feel that it is "satire"

Re: RNC and "Barack the magic Negro". That CD is reprehensible, vulgar, race and hate mongering. I am outraged at the tasteless attacks and the moral degradation of the RNC. Always politics. They have not and still don't know about respect and governance.

Anderson Cooper and Kathy Griffith? Why bring in a potty mouth who believes Jesus "sucks"? Are your viewers really that pagan?


Filed under: 360 Inside Out • Behind The Scenes
December 29th, 2008
10:09 AM ET

Ethics test for Democrats

U.S. Rep. Charles Rangel denies any ties between pledges for a project and preservation of a tax loophole.

U.S. Rep. Charles Rangel denies any ties between pledges for a project and preservation of a tax loophole.

Julian E. Zelizer
Special to CNN

Congressman Charles Rangel's fate hangs in the balance as a report concerning the Ways and Means Committee chairman is being prepared for release in early January.

House Speaker Nancy Pelosi has said she is waiting for the report from the House Ethics Committee before deciding what to do about several allegations against Rangel.

He's under investigation for allegedly using formal letterhead to solicit donations to a school to be named in his honor; helping one donor's company keep a tax loophole; having unreported income from a vacation villa; and having several rent-controlled apartments at below market rates, including one set up for his campaign operations in violation of state and local laws.


Filed under: Democrats • Ethics • Raw Politics
December 29th, 2008
10:03 AM ET

Yes, we can overcome race issues

Annette Gordon-Reed
Special to CNN

By now, it has become almost a cliché: "I never thought I'd live to see it happen."

That common reaction to the election of Barack Obama, an African-American, to the presidency of the United States captures much about the country's troubled racial history.

Black people have been a presence on the North American continent from the early 1600s, and the 1500s if you count the Spanish settlement at St. Augustine, Florida.

Yet, the fact that we were brought to America as slaves and had to wage a centuries-long battle for freedom - and then for civic and civil rights - has often shaped perceptions about what is and is not possible for blacks to achieve.

Keep Reading...

December 29th, 2008
09:40 AM ET

Arabs join in support of Gaza

Arabs took to the streets, critical of their governments' reaction in the face of Gaza developments. CNN's Octavia Nasr reports.


Filed under: Israel • Octavia Nasr
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