News

Pages

State of Disparity
9:04 pm
Mon September 22, 2014

Young Stamford artists answer question, "what is inequality?"

"The Shadow" by Sophia Vasylyk was shown in the "What Is Inequality?" exhibit in Stamford, Conn.
Credit Craig LeMoult

As we’ve been reporting in our State of Disparity series, Connecticut continues to have one of the widest gaps in the country between its wealthy and poor residents. This past weekend, an art show by students and graduates of Stamford’s public schools explored the question “what is inequality?”

Read more
"This will reverberate through the banking world"
7:12 pm
Mon September 22, 2014

N.Y. jury finds Arab Bank liable for funding terrorism

Attorneys for Arab Bank leave Federal Court in Brooklyn. Shand Stephens, center.
Credit AP Photo/Richard Drew

In a verdict that has far-reaching consequences for global banking, a federal jury in New York has found Arab Bank liable for funding terrorism in Israel between 2000 and 2004.

300 American victims and their families sued the Jordan-based bank, saying they violated the Anti-Terrorism Act by knowingly funding Hamas during the second Intifada. The plaintiffs convinced a jury that the bank gave material support in 24 attacks where Americans were hurt or killed.

This is the first time the Anti-Terrorism Act has been used civilly against a bank.

Read more
Religion
5:00 pm
Mon September 22, 2014

Norwalk ponders a settlement over mosque dispute

A dispute over a mosque proposal in Norwalk, Conn., is now pending in federal court. City officials are considering a settlement agreement to end a legal battle with the Al Madany Islamic Center. But while the attorneys have worked out an agreement, it's not popular with the mosque's would-be neighbors or the general public. 

Farhan Memon is a spokesperson for the Al Madany Islamic Center. It's made up of about 100 families in Norwalk, who currently pray in basements. He said they're not asking for special treatment. 

Read more
Government
8:07 pm
Fri September 19, 2014

Former Conn. Gov. Rowland convicted of new crimes

In this Thursday Sept. 18, 2014 photo, former Connecticut Gov. John G. Rowland, right, arrives with his family at federal court in New Haven, Conn. Rowland faces seven federal charges, including allegations he conspired with Apple's owner, Brian Foley, to hide $35,000 in payments for work he did on the 2012 congressional campaign of Foley's wife, Lisa Wilson-Foley.
Credit AP Photo/Jessica Hill

Former Gov. John G. Rowland, who resigned from office a decade ago in a corruption scandal, was convicted Friday of federal charges that he conspired to hide payment for work on two congressional campaigns.

Rowland, once a rising star for the Republican Party, served 10 months in prison for taking illegal gifts while in office and now as a repeat offender faces the possibility of a much stiffer sentence.

Read more
"regulators are too slow to catch them"
9:47 pm
Wed September 17, 2014

SEC penalizes first high-frequency trader

May 7, 2010, file photo. Traders work on the floor of the New York Stock Exchange the day after the "Flash Crash" and The Dow Jones industrials dropped 1,000 points. The crash brought scrutiny to high-frequency trading and other computerized strategies that move buy and sell orders at blinding speeds.
Credit AP Photo/Richard Drew

The Securities and Exchange Commission (SEC) charged a New York trading firm with the largest fine ever for breaking rules designed to keep risky trades from unraveling the financial system.

It is also the first time the SEC penalized a high-frequency trader.

High-frequency traders, or flash traders, make millions of trades a minute. They are the focus of an ongoing debate over whether those trades make the market function better or exploit slower, traditional traders.

Read more

Pages