withdrawals

A prominent hedge fund that made huge gains betting against subprime mortgages is reportedly being investigated by federal authorities for extending a $113 million loan to its founder so he could pay off a personal tax bill.

Swiss bank UBS AG posted a fourth-quarter profit of 1.205 billion Swiss francs ($1.12 billion) Tuesday, beating analysts' expectations partly thanks to a tax credit, but said rich clients' withdrawals had continued.

It's a humbling concept when you realize that you need about $1 million to generate just $40,000 a year of income (assuming you stick to a widely accepted rule of thumb that says you should limit your withdrawals to 4% of your savings during your first year in retirement).

A particularly effective means of draining your bank account is to do so in small doses. Twenty-dollar withdrawals from the ATM feel so petty that it doesn't seem harmful to go through half a dozen of them over the course of a few days.

Of course, when the monthly statement comes in, it becomes clear just how damaging they really are.

The pool of money available to compensate victims of Bernard Madoff's massive Ponzi scheme is getting bigger.

The trustee sifting through Bernard L. Madoff’s investment firm has sued J. Ezra Merkin, seeking the return of nearly $500 million that Mr.

Merkin’s funds withdrew over six years.