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Miller promised 10% a week interest and exploited some of the main themes of Ponzi schemes such as customers re-investing the interest they made. He defrauded buyers out of $1 million and was sentenced to jail for 10 years. After he was pardoned, he opened a grocery store on Long Island.
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The New York Stock Exchange reopened that day following a nearly four-and-a-half-month closure since July 30, 1914, and the Dow in fact rose 4.4% that day (from 71.42 to 74.56). However, the apparent decline was due to a later 1916 revision of the Dow Jones Industrial Average, which retroactively adjusted the values following the closure but ...
British Prime Minister Edward Heath told the House of Commons that his government had issued an order mandating a three-day work week for industries in the United Kingdom, to take effect on January 1, in order to reduce the consumption of electricity and the demands on coal and oil supplies. Heath, who cited labor strikes by railway workers and ...
For instance, the S&P 500 has had an average annual return of 9.8% over the past 20 years with dividends reinvested. The average national CD rate is 1.85% for a one-year term.
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