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Bernard Madoff, convicted of running an $65 billion Ponzi scheme, was sentenced to 150 years in jail. What’s your take on his punishment?

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The Kiplinger Washington Editors
July 2, 2009
 

Overhauling
Financial Regs

By year-end or so, Congress will give the nod to a major rewriting of the nation's financial regulatory system. This week’s Kiplinger Letter explores whether the package will do more harm than good and what lawmakers are likely to include.
 
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I just attended a franchise seminar. The speaker represents a few hundred franchises that (he says) are hand picked. He has the prospect (aka victim?) answer some questions about themselves then he makes recomendations - based on your personality, capital situation, etc.. If you pick a franchise, then he does some due dilligence for you. If you both decide it's a good idea, he helps you get started. He says he offers this service free of charge, which means he gets a commission if he's able to sell you a franchise. Has anyone done this? Successfully? Unsuccessfully?
-- fender
 

La Niña Likely to Linger

The longer the weather anomaly lasts next year, the worse that drought conditions will be throughout the southern U.S.
 
 

La Niña, the ocean-spawned weather phenomenon, will stick around through the spring and possibly into next summer as well. Temperatures of the central and eastern tropical Pacific Ocean waters that beget the anomaly are growing colder, bolstering La Niña's effects.

"All the signs are there" for those effects to persist and even increase for North America, says Douglas LeComte, meteorologist with the National Weather Service. "The recent drop in water temperatures is striking," he says, referring to October's plunge of two to three degrees Celsius below normal, west of the South American coast.

That can be either good or bad news, depending on your location.

The Northwest will get some relief from water supply problems. The region is already seeing more rainfall. It can also expect more snow than usual this winter, which will add to the snowpack throughout the northern Rockies and Cascade Mountains, ensuring greater river flows next summer in that part of the country.

But in the southern states, look for dry weather to persist, prolonging difficult conditions not only for farmers, but for water-
starved urban and rural communities, too. Water supplies for irrigation will drop further, crop failures may become more commonplace, and the threat of forest and brush fires in many locations will be heightened.

Continued drought is sure to add to the woes of residents of Georgia and Florida, suffering the effects of a nearly depleted water reservoir that serves both states.

Most of the northern tier of states will see mostly normal weather in coming months, but if La Niña persists through the summer, drought conditions could spread northward. One silver lining: Normal and warmer winter temperatures will help save on heating costs.

In the Southern Hemisphere, which is now in late spring, La Niña's effects are showing up in South America, southern Asia and Australia. Drought is hitting major crops in Brazil. Australia expects to lose about half of its wheat crop. The Southern Hemisphere's woes will benefit U.S. farmers. U.S. grain and oilseed exports will rise to make up for shortfalls caused by reduced production in Australia and other key growing areas.

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