Bernard Madoff arrested over alleged $50 billion fraud

NEW YORK (Reuters) – Bernard Madoff, a quiet force on Wall Street for decades, was arrested and charged on Thursday with allegedly running a $50 billion "Ponzi scheme" in what may rank among the biggest fraud cases ever.

The former chairman of the Nasdaq Stock Market is best known as the founder of Bernard L. Madoff Investment Securities LLC, the closely-held market-making firm he launched in 1960. But he also ran a hedge fund that U.S. prosecutors said racked up $50 billion of fraudulent losses.

Madoff told senior employees of his firm on Wednesday that "it's all just one big lie" and that it was "basically, a giant Ponzi scheme," with estimated investor losses of about $50 billion, according to the U.S. Attorney's criminal complaint against him.

A Ponzi scheme is a swindle offering unusually high returns, with early investors paid off with money from later investors.

On Thursday, two agents for the U.S. Federal Bureau of Investigation entered Madoff's New York apartment.

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New Maybank2u interface

Today, All New Maybank2u interface. Don't be fooled by fake maybank2u. and remember please don't login thru another link like from e-mail, blog, website etc.

October Toyota Corolla Best Deals

Up to $1,000 back or 0% financing for 36 months

With economy cars in high demand, the gas-thrifty, Toyota Yaris is not on sale. But the Corolla is, which we found surprising since the Corolla is newly remodeled for 2009 and is another bona fide member of the gas-thrifty club.

The truth is that September was one of Toyota USA's worst months in history and the company is looking to reverse its fortunes by placing sale stickers on even high-demand cars like the Corolla and Camry. But be aware that Toyota runs specials by region, meaning that you need to check with your local dealers to see just what deals are available to you.

MSRP: $15,350-$20,050
Invoice: $14,198-$18,144

yahoo autos

Melamine found in baby formula made in China

The Food and Drug Administration is alerting Asian and ethnic markets across the USA that infant formula made in China may be contaminated.

The FDA is working with state health agencies across the country to make members of Chinese-American communities aware of the danger. More in usatoday.com

Steering Toyota Levin

Pada yang mencari Steering original Toyota Levin.
Up for sale! RM 150.00 sahaja. SOLD OUT. Item at Putrajaya.

Silk Bag

Full load with silk. 2 bag penuh dengan batik sutera. Esok nak balik putrajaya. Dah 2 hari aku kat Terengganu buat kerja kat jabatan pelajaran negeri terenganu. Sambil2 tu ambik stok kain batik sutera untuk business wife aku. Inilah hasilnya...2 bag full loading....berat woooo..

Nak beli batik sutera asli terengganu? Login http://sutera-online.com

Recession is coming!

Just read this e-mail, forwarded by one of my friend. Anyway we must be carefull about this statement.

Recession is coming ... make your own judgment, don't panic !! Do what is wise.
The recession looks very eminent. It is really time to take pro active steps to avoid a painful time in the next two years which is how long the recession is expected to last.

Suggestions:

1. Don't take any loans, buy homes, properties with loans, or even cash. Keep as much cash as possible.
2. Pay off as much of personal loans, private loans, as debt collection will be hastened.
3. Sell any stocks you can even at lower prices.
4. Take money off from Trust Funds.
5. Don't believe in huge sales forecast from customers, be extremely prudent, lowest inventories, reduce liabilities.
6. Don't invest in new capital.
7. If you are selling homes/ properties/ cars , do it now, when you can get good prices, they are going to fall.
8. Don't invest in new business proposals.
9. Cancel holiday plans using credit cards.
10. Don't change jobs, as companies will retrench based on 'last in first out'.

Stay cool, wait, and if you took all of the above actions and more, you probably will be better off then many.

This is not a rumor. Bear Stearns is the first of many banking and financial institutions that will start falling in the not too future. If Bear Stearns can fall, so can JP Morgan, Citibank, HSBC, and the whole world.

US economy falls, the rest will crumble. India and all those self economies will be the most protected, but not gullible. Europe may be a little stronger, but not China, another giant! Malaysia will see significant impact.

Who is NO 1

Who is no 1. Actress Rozita che wan, nasha aziz and erra fazira.
Considered Beautiful actress...:) But which one is the most beautiful... picture taken from manggaonline.com. (Malaysian Online celebrity magazine).

New Dunkin' Donuts product

New product from dunkin' donut. New taste, Green Tea. Ready at all dunkin' donuts outlets.

Colmar Tropicale, Bukit Tinggi

Visited last week with my family. entrance fee is RM 16.00 per person (adult) and RM 8.00 per children.

This is some few picture taken during the holiday. Very nice place to stay!

They also have Japanese Tea Botanical Garden, Rabbit Park and Horse Ride.

Silk..most beautiful Batik Design

One of sutera-online product selling by my wife. Very impressive! Latest design for only RM 380.00. Login http://sutera-online.com for more sutera asli from Terengganu!

Cloud from airplane

Taken during my flight from Miri sarawak to Kuala Lumpur International Airport...

Another scene shot by sony ericsson from my friend.


Happy watching...