Law
1:54 pm
Thu August 1, 2013

Former Goldman Sachs Trader Found Liable For Fraud

Originally published on Thu August 1, 2013 2:48 pm

Transcript

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In New York City today, a victory for the Securities and Exchange Commission: A federal jury held former Goldman Sachs trader Fabrice Tourre liable on six of the seven counts against him. The SEC had accused Tourre of intentionally misleading investors about a mortgage-backed security just as the housing sector was beginning to collapse. The investment created huge losses.

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Crime In The City
1:25 pm
Thu August 1, 2013

Bodies On The Boardwalk: Murder Stirs A Sleepy Jersey Shore

The Jersey shore's iconic Star Jet roller coaster was inundated after Superstorm Sandy.
Mark Wilson Getty Images

Originally published on Fri August 2, 2013 3:01 pm

When writer Chris Grabenstein plots his mysteries, the murders happen in the corny nooks of New Jersey's Jersey shore. After all, there's something delightfully cheesy about a beach town.

"I guess I'm a cheesy guy. I like this kind of stuff," Grabenstein says. "Ever since I was a kid I loved tourist towns."

The author points out shop names as we walk along his stretch of the shore. There's the Sunglass Menagerie, an ice cream shop called Do Me A Flavor, Shore Good Donuts and How You Brewin' coffee. I'll spare you the rest — Long Beach Island has 18 miles of this stuff.

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The Two-Way
1:21 pm
Thu August 1, 2013

Former Goldman Trader Found Liable For Billion-Dollar Fraud

Former Goldman Sachs trader Fabrice Tourre walks to a federal court in Manhattan with his attorneys Thursday. A jury found Tourre liable in a massive securities fraud case.
Richard Drew AP

Originally published on Thu August 1, 2013 1:59 pm

A federal jury in New York City has found that Fabrice Tourre, the former Goldman Sachs trader who regulators say caused investors to lose $1 billion, is liable in the mortgage securities fraud case filed against him by the Securities and Exchange Commission.

Regulators say Tourre, 34, a native of France who was nicknamed "Fab" in his office, packaged toxic subprime mortgages into a collateralized debt obligation that was sold to investors under the name Abacus in 2007.

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Erin Toner is a reporter for WUWM. Erin was WUWM's All Things Considered local host from 2006 to 2010. She began her public radio career in 1999 at WMUK in Kalamazoo, Michigan. Prior to joining WUWM in 2006, Toner spent five years at WKAR in East Lansing, Michigan.

During her career, Toner has served as a mentor for NPR's Next Generation Radio project, trained and mentored college students and taught a news reporting course at Michigan State University. She holds a degree in journalism from Michigan State University.

» Contact WUWM News

Found Recipes
1:03 pm
Thu August 1, 2013

Zwetschgendatschi, A Mouthful That Captures The Perfect Plum

Zwetschgendatschi is the Bavarian word for plum cake. The dessert uses Damson plums, which are only in season for a few weeks each year.
Courtesy of Gesine Bullock-Prado

Originally published on Thu August 1, 2013 2:48 pm

If it's early August, it must be time for Damson plums. Gersine Bullock-Prado — a Vermont-based pastry chef and author of Bake It Like You Mean It — has a special place in her heart for them.

"They're not like your normal plum. They're not round. They're oval and very dark purple, almost black."

When barely ripe, the plums are firm, tart and olive green, Bullock-Prado says. "[They're] just these lovely little orbs of joy."

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The Salt
12:57 pm
Thu August 1, 2013

Move Over, Dippin' Dots: 5 Futuristic Ice Creams

Wikipearl ice cream doesn't require plastic packaging because it is contained in edible skin.
Agence VFC Relations Publics

Originally published on Fri August 2, 2013 12:01 pm

When Dippin' Dots emerged in 1987 with the slogan "Ice Cream of the Future," its liquid nitrogen-blasted pellets seemed about as cutting edge as ice cream could get.

But ice cream has come a long way since then. Now, ice cream revolutionaries are updating our notions of ice cream texture and flavor with bioengineering and sheer chutzpah. Welcome to the new future of ice cream.

Lunar Ice Cream

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NPR Story
12:49 pm
Thu August 1, 2013

NSA And Aaron Swartz Hot Topics At Hacking Conferences

Army General Keith Alexander, head of the National Security Agency delivers a keynote address at the Black Hat hacker conference on Wednesday, July 31, 2013, in Las Vegas. (Isaac Brekken/AP)

Two tech conferences in Las Vegas — Def Con and Black Hat — have brought together hackers from all over the world.

Yesterday the director of the National Security Agency, Gen. Keith Alexander, spoke at Black Hat to a sometimes hostile crowd.

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NPR Story
12:49 pm
Thu August 1, 2013

Ohio Man Gets Life Term In Kidnapping Of 3 Women

Ariel Castro, center, listens to the judge during court proceedings Friday, July 26, 2013, in Cleveland. (Tony Dejak/AP)

One of three women kidnapped and repeatedly raped for a decade before their escape told her abductor Thursday that her life is just beginning while his is over now that he’s about to be sentenced to life in prison.

Michelle Knight stood just feet away from Ariel Castro in a Cleveland courtroom, the first time she’s been seen publicly since her rescue from the house where she was held captive.

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NPR Story
12:49 pm
Thu August 1, 2013

Forecast For Back-To-School Shopping

Andy and Aimee Smith, background, and their children Ian, left, and Riley shop for back-to-school clothes during the first day of the sales tax holiday at J.C. Penney in Eastdale Mall in Montgomery, Ala. in August 2011. (Mickey Welsh/Montgomery Advertiser via AP)

The back-to-school shopping season has begun, and retailers are hoping consumers will be in the mood for clothes, shoes, back packs and computers.

The cold, rainy spring depressed sales as the old school year ended, so fingers are crossed for better results for the new academic year.

KUHF’s Andrew Schneider and NPR senior business editor Marilyn Geewax look at the mood of consumers as communities offer sales tax holidays to boost interest in shopping.

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The Two-Way
12:47 pm
Thu August 1, 2013

U.S. Will Close All Embassies Sunday Over Security Concerns

Originally published on Thu August 1, 2013 3:43 pm

The United States will close all of its embassies on Sunday because of security concerns, State Department spokeswoman Marie Harf said Thursday.

AFP reports:

" 'The Department of State has instructed certain US embassies and consulates to remain closed or to suspend operations on Sunday, August 4,' Harf told reporters.

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