Madoff aftershocks reach ‘insiders’

Hedge fund king Ezra Merkin is unlikely to be the last of the ‘insiders’ or beneficiaries from Bernie Madoff’s Ponzi scheme to face court.
A lawsuit filed by US Bankruptcy Court last Thursday claims Merkin knew the millions in fees he collected from directing investments to Madoff were the spoils of a massive Ponzi scheme…

A seafood soup Sydney can call its own

Every harbour city worth its salt has a soup for its local catch

Marseilles has its Bouillabaisse, Antwerp its Soupe de Moules and Boston its Clam Chowder. However, such a specialty is strangely absent in Sydney.

This great harbor city of the Antipodes — or indeed the world — with its abundance of fish and seafood — has no seafood soup to call its own. But Australia — and Sydney in particular — prides itself on its multiculturalism. Instead of coming up with a fish or seafood soup of its own — Sydney chefs of all nationalities serve the whole gamut of fish or seafood soups of the world and variations thereof. Read more: Suite 101

EU Ministers Ask IASB ‘Please Explain’

Charlie McCreevy, EU internal market commissioner, urged the International Accounting Standards Board (IASB) last Thursday (May 7), at the Financial Reporting in a Changing World conference in Brussels, to be more flexible on mark-to-market accounting rules in the light of the current financial crisis.