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IT was Dwight D. Eisenhower who, upon leaving the office of the president in 1961, coined the phrase I>Iron Triangle /I>andI/I>warned against the dangers of a #147;military industrial complex,#148; and the #147;grave implications#148; of the #147;conjunction of an immense military establishment and a large arms industry.#148;
THE news that ten of Wall Street's biggest investment firms had agreed to pay US$1.4bil in penalties and restitution to settle charges by US regulators that their analysts regularly skewed their research to benefit a few privileged clients at the expense of smaller investors must be cold comfort to millions of individual investors who lost fortunes in relying on such tainted research.
Ten of Wall Street#8217;s biggest firms have agreed to pay about US$1.4bil and adopt reforms to resolve allegations that they issued biased ratings on stocks to win investment banking business, US federal and state regulators announced overnight in a bid to shore up investors#8217; confidence.
The deadline for migration to chip cards is just about two months away and yet only about a tenth of the automated teller machine (ATM) card base has been converted. In QA Datuk Mohd Hata Robant, MD Malaysian Electronic Payment System (1997) Sdn Bhd (MEPS) responds to come queries.