In Houston Tuesday, a federal jury convicted Texas financier R. Allen Stanford of running a massive Ponzi scheme. Jurors agreed with prosecutors, who claimed he ran a global scheme that lasted more than 20 years and involved more than $7 billion in investments.
When Lehman Brothers collapsed in 2008, it was the largest bankruptcy in U.S. history. More than three years later, Lehman is emerging from Chapter 11. The firm is really just back in business to liquidate itself. Lehman has about $65 billion in assets that it intends to distribute among its many creditors starting next month.
Oklahoma is one state benefitting from the energy boom, and in more ways than one. A wind power rush is underway there with companies competing to secure the windiest spots while breathing life into small towns.
But as Logan Layden of member station KGOU reports, the industry's expansion may be moving too quickly.
Rising gas prices have been the big energy story of the past several weeks. But many energy experts say that's a sideshow compared with the really big energy event — the huge boom in oil and natural gas production in the U.S. that could help the nation reach the elusive goal of energy independence.
Since the Arab oil embargo of 1973, energy independence has been a Holy Grail for virtually every American president from Richard Nixon to Jimmy Carter to Barack Obama.