Housing market's freeze deepens

He is accused of taking part in an eight-year scheme that deceived banks, auditors and investors, including Boston-based buyout firm Thomas H Lee Partners. Two colleagues, former Refco finance chief Robert Trosten and former president Tone Grant, will go on trial on March 17.

The government claims that Bennett, Grant and Trosten moved losses and certain expenses off Refco’s books to Refco Group Holdings – a company controlled by Bennett, Grant and another partner. The government claims the three were operating a shell game, shifting money in order to hide Refco’s actual liabilities.

In June 2006, the Austrian bank Bawag PSK agreed to pay at least $675m to settle charges that it helped conceal Refco’s true financial picture.

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Increase your business credit as you grow

My first reaction when Nutter and his staff gave our editorial board a sneak preview of the budget was that $4 million was a tiny commitment to education spending in a budget that seeks no increase for public schools.

I had a second reaction after talking to Curtis.

When I make my recommendation to the board in a couple of months, Curtis said It will be the first time in 20 years that we did not have to raise tuition.

I'd still rather see the city continue its recent trend of increasing its contribution to public schools. It's no coincidence that improved test scores and achievement levels in city schools have come at the same time as increased state and city funding.

But CCP's track record makes a strong case for Nutter's decision.

About 80 percent of CCP's recent graduates are employed in the city, in contrast to the brain drain which has seen the majority of local college graduates take their degrees out of town. read more