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  1. Businessman ran schemes totaling about $40 million Alan B. Fabian - a wealthy entrepreneur, religious philanthropist and well-connected political fundraiser - was sentenced yesterday to nine years in federal prison for running multiple schemes that defrauded companies, creditors and a fellow church member who attended Bible study in his home of an estimated $40 million.
    www.baltimoresun.com
  2. Asian shares join global retreat International Herald Tribune, France - 11 hours ago The bank, the biggest mortgage lender in Australia, said bad debts may double this year, citing lending to companies like Lehman Brothers and Allco Finance ...
    www.iht.com
  3. LOS ANGELES - Shares of large U.S. homebuilders were trading higher Wednesday as the Federal Reserve cut the fed funds rate by a half point — a move that could make it cheaper to obtain some home loans. The prime rate banks set on consumer loans ...
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