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Bernard Madoff is led to jail in handcuffs after pleading guilty to 11 criminal counts stemming from his multibillion dollar pyramid scheme. The disgraced money manager tells a judge that he "cannot adequately express" how "sorry and ashamed" he is for carrying out an epic fraud that robbed investors of billions of dollars. His sentencing is scheduled for June 16.
Also: See Charges Against Madoff
DailyFinance: Investors Ignored Warning Signs

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AOL Shakes Up Management; CEO Out

posted: 9 HOURS 33 MINUTES AGOcomments: 90

filed under: Tech News

Time Warner announces Google veteran Tim Armstrong has been named chairman and CEO of its Internet company, AOL. Former AOL Chairman and CEO Randy Falco and President and COO Ron Grant will leave after a transition period.

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Daniel Acker, Bloomberg News/Landov | Bobby Bank, WireImage

Google veteran Tim Armstrong, left, will replace ex-NBC executive Randy Falco, who was appointed as AOL's chief executive in November 2006.

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Bank of America Back in Black, CEO Says

posted: 11 HOURS 38 MINUTES AGOcomments: 144

filed under: Investing

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Bank of America's Ken Lewis becomes the third CEO of a big U.S. financial institution to say that his bank has been profitable so far this year. "I actually think the next six months is going to be, in a positive way, a gut-wrenching time," Lewis says. "We're going to start seeing signs of improvement and, at some point, you have to pull the trigger on that investment or that expansion." Quote: BAC

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Warren Buffett Hunts for Bargains in US

posted: 9 HOURS 57 MINUTES AGO

filed under: Investing

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Berkshire Hathaway CEO and uber-investor Warren Buffett says he's bullish on the United States. He's already invested in U.S. companies like General Electric, Goldman Sachs and Dow Chemical. More such deals could be around the corner.

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Economists Criticize Obama on Banks

posted: 11 HOURS 12 MINUTES AGOcomments: 37

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