Nation Nov 24

Nuclear forces commander denies counterfeiting casino chips

Rear Adm. Timothy M. Giardina, who was fired last year as No. 2 commander of U.S. nuclear forces at an early stage of a Navy criminal investigation into the counterfeit chips, acknowledged to The Associated Press that he played the…

Economy Nov 14

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Atlantic City shuffles for business as casino luck runs out

Casinos have been Atlantic City’s lifeblood. Now, they’re bottoming out at alarming rates -- four have already closed this year, leaving thousands unemployed. Economics correspondent Paul Solman explores the gamble that elevated Atlantic City in its prime, and how residents…

Economy Mar 18

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Why Are Pension Funds Investing in Hedge Funds?

Question: Why were pension funds allowed to “invest” in a hedge fund? Hedge funds are nothing more than gambling. Paul Solman: Because pension funds are supposedly big enough and therefore sophisticated enough to know what they’re doing and take considered…

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