Caught in a freezing gale, Captain A.E. White was unable to do anything but watch as the icy waters of Lake Superior claimed the schooner Nelson, which was under his tow en route to the Keweenaw Peninsula. "Before we were aware of her danger, she began sinking," White, captain of the steamer A. Folsom, told a newspaper reporter in May 1899. "In a few minutes, she dove to the bottom." "The crew did not even have time to lower their yawl boat. Not a bit of wreckage was left to mark the spot," White said. "The Nelson disappeared as suddenly as one could snuff a candle." On Aug. 26, the first person in more than a century clapped eyes on the Nelson, which sat undisturbed on the bottom of Lake Superior since the day its captain watched his family and entire crew perish. read more
In 1979, Houghton Mifflin paid $37,254 to purchase Mein Kampf's publishing rights back from the U.S. government. Cabinetreports that "over the next two decades, with sales of approximately fifteen thousand copies per year, the best estimate is that Houghton Mifflin realized profits of somewhere between $300,000 and $700,000 on its 1979 investment of $37,254. With the publication in October 2000 of a U.S. News and World Reportstory detailing the history of its publication of Mein Kampf, however, Houghton Mifflin announced that it would donate all of its accrued Mein Kampfprofits to charity."
The United States, which is suing Standard &amp;amp;amp; Poor's for $5 billion for allegedly issuing inflated credit ratings before the 2008 crash, said Monday it is confident that documents the rating agency wants for its defense will not show that the lawsuit was filed in retaliation for a downgrade of the country's debt. In a filing with the U.S. District Court in Santa Ana, California, the Department of Justice said S&amp;amp;amp;P's "general suspicions" do not justify the rating agency's request for the release of dozens of unredacted documents, including materials from former Treasury Secretary Timothy Geithner. read more
WASHINGTON -- House Republicans are agitating to dramatically curb federal bank regulators' ability to combat money laundering, calling for changes in decades-old financial fraud standards in an effort to aid payday lenders. read more
Operators of two Taco Bells in upper Manhattan thought "outside the bun" by counterfeiting money and forcing underage workers to give fake $20 bills to customers as change, a lawsuit alleges. Annette Cirino is filing a class-action lawsuit in Manhattan federal court on behalf of her 17-year-old daughter, alleging the teen reported the allegations to cops after being "manipulated" into distributing funny money while working behind the counter at both restaurants. Her attorney described the fake cash as "terrible" copies slightly smaller than real $20 bills, adding they were likely produced on a laser-jet printer then run through a dryer to make them appear used.