Day January 5, 2009

Government wants Madoff in jail now

A federal prosecutor argued that cufflinks, watches, and other personal property purportedly worth $1 million had been shipped by Madoff and his wife to relatives and friends during the holiday season, and that this constituted a violation of the terms…

Hyperion mini-nuclear reactor

The Hyperion nuclear reactor is the size of a refrigerator, costs $30 million, and can power up to 20,000 homes. Hyperion says they have $2 billion in orders and are pitching them to be used to generate power for Alberta…

Vegawatt. Grease into power for restaurants

Now, restaurants can simply dump their grease into a Vegawatt machine and have it produce electricity and hot water rather than pay to have it shipped away. Vegawatt calculates that 80 gallons a week of oil will result in a…

Option ARMs. The new subprime

With billions of Option ARMs due for recast in 2009 and 2010 another crisis is on the making. But this time problems are expected to be more pronounced than the subprime crisis since the economy is already nearing its trough,…