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Facebook said this week that that it has paid out more than $40,000 under its new “bug bounty” security initiative. Launched three weeks ago, Facebook’s program invites security researchers — both the professional kind and hacker hobbyists — to send it the details of any Facebook vulnerabilities that they uncover. If the report checks out, Facebook will pay a finder’s fee of at least $500.
It’s willing to go higher for extra-impressive bug spotting.
“We’ve already paid a $5,000 bounty for one really good report,” Facebook Chief Security Officer Joe Sullivan wrote in a blog post. “One person has already received more than $7,000 for six different issues flagged.”

FORT LAUDERDALE, Fla. — Prosecutors say a family amassed $40 million in a fortune-telling scam, warning victims that if they didn’t follow their advice, terrible things would happen to them or their loved ones.
Details spilled out in federal court Friday after eight people were arrested earlier this week.
Assistant U.S. Attorney Laurence Bardfeld said victims who were going through vulnerable phases forked over cash, gold coins and jewelry. The defendants promised victims they wouldn’t spend the money, but then refused to return it.
The Sun Sentinel reported that one victim, a bestselling author, gave an estimated $20 million.
Citing “several sources,” the newspaper identified that victim as Jude Deveraux, author of dozens of New York Times bestsellers.
‘Operation Crystal Ball’
Authorities started investigating in 2007 after a victim complained about losing $3,000.
The Sun Sentinel said other alleged victims included a person from Japan who handed over $496,000.
According to NBCMiami, the multi-agency, multi-state investigation was dubbed “Operation Crystal Ball.”
An attorney for one family member said the clan provided counseling for victims who had nowhere to turn.
The Associated Press and msnbc.com staff contributed to this report.

http://www.bloomberg.com/news/2011-08-09/gold-extends-advance-to-record-as-equity-oil-rout-spurs-demand-for-haven.html
By Debarati Roy - Aug 9, 2011 1:04 PM PT
Gold futures advanced, extending a rally to a record for the second straight day, as the Federal Reserve pledged to keep its benchmarkinterest rate low at least through mid-2013.
Gold retreated from the settlement after equities rallied as investors studied today’s Fed policy statement. The metal has jumped 45 percent in the past year following bond buybacks by the central bank during two rounds of so-called qualitative easing, combined with the lowest borrowing costs ever.
“The anxiety premium for gold remains,” Adam Klopfenstein, a senior strategist at MF Global Holdings Ltd. in Chicago, said in a telephone interview. “People are disappointed that there was no mention of QE3, but the statement shows that the government is not willing to go too excessive to stimulate the economy.”
Gold futures for December delivery advanced $29.80, or 1.7 percent, to close at $1,743 an ounce at 1:49 p.m. on the Comex in New York. Earlier, the price reached a record $1,782.50. The metal topped $1,780 in electronic trading after the Fed statement and traded at $1,740.10 at 4:03 p.m.
Fed policy makers left the target interest rate in a range of zero percent to 0.25 percent. The Federal Open Market Committee discussed a range of policy tools to bolster the economy and said it is “prepared to...

By Debarati Roy - Aug 9, 2011 1:04 PM PT
Gold futures advanced, extending a rally to a record for the second straight day, as the Federal Reserve pledged to keep its benchmarkinterest rate low at least through mid-2013.
Gold retreated from the settlement after equities rallied as investors studied today’s Fed policy statement. The metal has jumped 45 percent in the past year following bond buybacks by the central bank during two rounds of so-called qualitative easing, combined with the lowest borrowing costs ever.
“The anxiety premium for gold remains,” Adam Klopfenstein, a senior strategist at MF Global Holdings Ltd. in Chicago, said in a telephone interview. “People are disappointed that there was no mention of QE3, but the statement shows that the government is not willing to go too excessive to stimulate the economy.”
Gold futures for December delivery advanced $29.80, or 1.7 percent, to close at $1,743 an ounce at 1:49 p.m. on the Comex in New York. Earlier, the price reached a record $1,782.50. The metal topped $1,780 in electronic trading after the Fed statement and traded at $1,740.10 at 4:03 p.m.
Fed policy makers left the target interest rate in a range of zero percent to 0.25 percent. The Federal Open Market Committee discussed a range of policy tools to bolster the economy and said it is “prepared to employ these tools as appropriate.”
U.S. Debt
Yesterday, gold surged 3.7 percent, the most since March 2009, a...

Daily Press
MANISTIQUE – Residents of Schoolcraft County are being warned about a telephone scam in Schoolcraft County.

Manistique Public Safety Director Ken Golat said there have been numerous attempts in the past several weeks to fraudulently obtain banking account information.

The attempts have been made by a telephone call, whereby the caller states that he or she represents a local bank or financial institution in the Manistique area.

The caller then advises the intended victim their account has been compromised and that they need their account and Social Security numbers immediately to prevent theft.

In a spin off scam, other residents have received call that their debit card sponsored by a named Manistique financial institution has been compromised and the intended victim should provide the caller with those numbers.






Public Safety officers are reminding the public they should never give out any personal or account information over the phone, no matter what the supposed circumstances.

If a person should receive any such call requesting this information they should hang up immediately and contact their local bank or credit union to determine what is going on.

If this is determined to be a fraud scam, which a vast majority are, the person should then report this attempted fraud to the Manistique Public Safety Department by calling 906-341...

FRI July 29, 2011 http://content.usatoday.com/communities/onpolitics/post/2011/07/house-debt-limit-vote-john-boehner-/1 Updated at 1o:54 p.m. ET The U.S. House called off a Thursday night vote on Speaker John Boehner’s plan to raise the nation’s $14.3 trillion debt ceiling, after GOP leaders failed to round up enough votes to pass the measure. A Tuesday deadline is looming. The government could default on [...]
Tags: economy, financial news, investment

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shaw capital management financial news:Bin Laden not dead
Posted by Shaw Capital Management Financial News on May 16, 2011 in business, financial, financial research, investment, latest news, world news
Can you imagine the body of a globally wanted terrorist (Osama bin Laden, that is) being dumped into the sea soon after he’s done in by special forces? Me neither. With no proof of his body and photos of the operation being held back from the public, it’s pretty natural that people would doubt the [...]

Shaw Capital Management Financial News Directory: House calls off Thursday vote on Boehner’s debt-limit plan
Posted by Shaw Capital Management Financial News on August 1, 2011 in business, economy, financial, financial research, home, investment, latest news, world news
FRI July 29, 2011 http://content.usatoday.com/communities/onpolitics/post/2011/07/house-debt-limit-vote-john-boehner-/1 Updated at 1o:54 p.m. ET The U.S. House called off a Thursday night vote on Speaker John Boehner’s plan to raise the nation’s $14.3 trillion debt ceiling, after GOP leaders failed to round up enough votes to pass the measure. A Tuesday deadline is looming. The government could default on [...]
Tags: economy, financial news, investment

Shaw Capital Management Financial News Directory: House calls off Thursday vote on Boehner’s debt-limit plan
Posted by Shaw Capital Management Financial News on August 1, 2011 in business, economy, financial, financial research, home, investment, latest news, world news
FRI July 29, 2011 http://content.usatoday.com/communities/onpolitics/post/2011/07/house-debt-limit-vote-john-boehner-/1 Updated at 1o:54 p.m. ET The U.S. House called off a Thursday night vote on Speaker John Boehner’s plan to raise the nation’s $14.3 trillion debt ceiling, after GOP leaders failed to round up enough votes to pass the measure. A Tuesday deadline is looming. The government could default on [...]
Tags: economy, financial news, investment

Updated at 1o:54 p.m. ET
The U.S. House called off a Thursday night vote on Speaker John Boehner’s plan to raise the nation’s $14.3 trillion debt ceiling, after GOP leaders failed to round up enough votes to pass the measure.
A Tuesday deadline is looming. The government could default on its financial obligations and not have enough money to pay its bills if Congress does not raise the nation’s borrowing authority.
After two hours of debate, the House stalled late into the night to buy more time for last-minute arm twisting on the Boehner plan. He’s trying to raise the debt limit in a two-step process, while cutting spending each time by an amount greater than the debt increase.

Only a few short months ago, JPMorgan Chase traders were on such a roll that they did not have a single losing day in the first quarter.
But when the bank reports its second-quarter results this week, that hot streak will have come to an end. Analysts expect JPMorgan to count an almost 20 percent drop in its sales and trading revenues, reflecting a slowdown in investor activity and the dismal performance of its fixed-income and commodities groups.
Bank of America, Citigroup, Goldman Sachs and Morgan Stanley are expected to report similar news. After helping prop up Wall Street during the financial crisis, core trading revenue is projected to drop, on average, by as much as 25 percent from the first quarter, according to Credit Suisse research.