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Is It Unhealthy To Switch Prescription Glasses From Day To Day?

By A. Nutt

Have you ever heard a mom tell her child not to wear someone else’s glasses because it will ruin his eyes? This common belief comes from the thought that straining to see out of a wrong prescription can damage your eyes. Similarly, some believe that it is unhealthy to switch prescription glasses from day to day. Is there any truth to this thought, or is it simple an “old wives” tale?

The Truth About Your Eyes

So can a different prescription harm your eyes? The answer to this question begins with understanding what causes eye problems to begin with. Poor eyesight is caused by the shape of the eye. While prolonged exposure to certain activities, such as reading or watching TV, when the eye is developing can change its shape, in general you cannot damage the shape of your eye by one or two actions, such as wearing someone else’s glasses or changing between prescriptions from day to day.

Why Do You Need to Switch?

[youtube]http://www.youtube.com/watch?v=vndKdEoHtYU[/youtube]

If you are concerned about the safety of switching between prescription glasses on a regular basis, consider the reason why you need to switch. Are you switching between reading glasses and glasses for nearsightedness? Do you need to wear safety lenses at work? Perhaps you are switching between regular prescription glasses and prescription sunglasses. Some people even feel that a weaker prescription works better for them when they are using the computer or reading, and a stronger prescription is necessary when driving or looking long distances.

Possible Alternatives

If you are concerned about constantly switching between prescriptions, you may have some alternatives. If you are switching because you need reading glasses and regular glasses, you have probably found this to be incredibly inconvenient. You have to always remember to bring your reading glasses with you, and they are very easy to forget. You also have to switch every time the need to read arises, whether to write a check at the grocery store, scan the magazines to find an interesting headline, or check the price of your purchases before putting them in your cart. An alternative to this situation is to get bifocals. Today’s bifocals are as fashionable as regular glasses, and bifocal contact lenses are also available this will eliminate the hassle of always dealing with two pairs of glasses.

Perhaps you are wishing to wear sunglasses but want to avoid the look of clip-ons. One option for you would be to purchase special lenses that darken when you are in the sun. Otherwise, keep your prescription sunglasses in the car, and switch when you are driving. There is no danger in doing this, although it is a slight hassle.

Another option for some people may be to have laser surgery to eliminate the need for glasses. This is not always ideal, due in part to the cost and also to the risks associated with laser eye surgery. Be sure to discuss all of the potential risks before you sign up for this procedure.

So Is There Any Danger?

Research has shown that switching between prescription glasses from day to day does not cause permanent damage, so if it works for you, go ahead and do it. However, some people experience headaches when they switch from one pair of glasses to another as their eyes attempt to adjust to the new prescription. Also, eyestrain is a common problem associated with switching from one prescription to another. These issues do not cause permanent damage, but they can be uncomfortable. However, if you do not suffer from eyestrain or headaches, and switching makes life more convenient, then continue to do it without worry!

About the Author: Shop online when looking for contact lenses,

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Surgeons reattach boy’s three severed limbs

Tuesday, March 29, 2005A team of Australian surgeons yesterday reattached both hands and one foot to 10-year-old Perth boy, Terry Vo, after a brick wall which collapsed during a game of basketball fell on him, severing the limbs. The wall gave way while Terry performed a slam-dunk, during a game at a friend’s birthday party.

The boy was today awake and smiling, still in some pain but in good spirits and expected to make a full recovery, according to plastic surgeon, Mr Robert Love.

“What we have is parts that are very much alive so the reattached limbs are certainly pink, well perfused and are indeed moving,” Mr Love told reporters today.

“The fact that he is moving his fingers, and of course when he wakes up he will move both fingers and toes, is not a surprise,” Mr Love had said yesterday.

“The question is more the sensory return that he will get in the hand itself and the fine movements he will have in the fingers and the toes, and that will come with time, hopefully. We will assess that over the next 18 months to two years.

“I’m sure that he’ll enjoy a game of basketball in the future.”

The weight and force of the collapse, and the sharp brick edges, resulted in the three limbs being cut through about 7cm above the wrists and ankle.

Terry’s father Tan said of his only child, the injuries were terrible, “I was scared to look at him, a horrible thing.”

The hands and foot were placed in an ice-filled Esky and rushed to hospital with the boy, where three teams of medical experts were assembled, and he was given a blood transfusion after experiencing massive blood loss. Eight hours of complex micro-surgery on Saturday night were followed by a further two hours of skin grafts yesterday.

“What he will lose because it was such a large zone of traumatised skin and muscle and so on, he will lose some of the skin so he’ll certainly require lots of further surgery regardless of whether the skin survives,” said Mr Love said today.

The boy was kept unconscious under anaesthetic between the two procedures. In an interview yesterday, Mr Love explained why:

“He could have actually been woken up the next day. Because we were intending to take him back to theatre for a second look, to look at the traumatised skin flaps, to close more of his wounds and to do split skin grafting, it was felt the best thing to do would be to keep him stable and to keep him anaesthetised.”

Professor Wayne Morrison, director of the respected Bernard O’Brien Institute of Microsurgery and head of plastic and hand surgery at Melbourne’s St Vincent’s Hospital, said he believed the operation to be a world first.

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Car Accident Injuries And Establishing A Valid Claim

By Lala C. Ballatan

In the United States and particularly in Los Angeles County, California, car accidents are one of the leading causes for the high number of claims involving personal injury that are filed in courts.

As the number of cars on the road increases, and everyone is hurrying to get to their destinations, it is not surprising that many car accidents happen, daily.

According to the data released by the National Highway Traffic Safety Administration (NHTSA), a motor vehicle accident occurs almost every ten seconds on the highways of the U.S. Almost millions of people are injured as a result of these accidents. Their injuries range from superficial and mild up to critical.

Meanwhile, many of these auto accidents result to death in 13-minute intervals.

If you have been a victim of an accident and acquired injuries because of it, or you have lost a loved one due to the same reason, then you are entitled to file either a personal injury claim or a wrongful death claim. It would depend on the particular damages you and your family have sustained as a result of the accident.

Car Accidents Injuries and Fatalities

[youtube]http://www.youtube.com/watch?v=3M8j5wcMyfs[/youtube]

Car accident victims usually suffer death and mild to severe injuries like:

— traumatic brain injury or TBI

— head injury

— spinal cord injury or quadriplegia/paraplegia

— neck injuries

— broken bones

— fractures

These injuries leave the car accident victims in a state of relentless pain and acute discomfort. The victims may also sustain hearing and eyesight impairments.

Furthermore, these injuries, even if treated correctly, may still cause the victim to acquire permanent or temporary disability and disfigurement.

Personal Injury Car Accident Claims

The federal and state laws entitle the car accident victims the right to recover damages and avail of fair compensation for the injuries they have sustained.

Here are the following conditions you need to fulfill as a car accident victim so that your personal injury claim is considered valid.

— The car accident was the direct cause of your injuries

— The negligence or wrongful action of another person was the main cause of the accident. The victim has no participation in the cause of the accident.

The first step in establishing the validity of a personal injury claim is by proving the negligence of another party. If it has been proven that you also have a participation or fault in the accident, the law’s standards will not give you any compensation.

If you are a victim of a car accident in LA County, the best step to do after or even during your recuperation is to find expert lawyers specializing in car accident cases and hire one whom you can depend on and trust.

About the Author: For car or automobile accident cases

mesrianilaw.com/Automobile-Accident.html

in LA County, our firm’s Car Accident Lawyers LA County have long standing experience and competency that you can rely on.

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Wikinews interviews World Wide Web co-inventor Robert Cailliau

Thursday, August 16, 2007

The name Robert Cailliau may not ring a bell to the general public, but his invention is the reason why you are reading this: Dr. Cailliau together with his colleague Sir Tim Berners-Lee invented the World Wide Web, making the internet accessible so it could grow from an academic tool to a mass communication medium. Last January Dr. Cailliau retired from CERN, the European particle physics lab where the WWW emerged.

Wikinews offered the engineer a virtual beer from his native country Belgium, and conducted an e-mail interview with him (which started about three weeks ago) about the history and the future of the web and his life and work.

Wikinews: At the start of this interview, we would like to offer you a fresh pint on a terrace, but since this is an e-mail interview, we will limit ourselves to a virtual beer, which you can enjoy here.

Robert Cailliau: Yes, I myself once (at the 2nd international WWW Conference, Chicago) said that there is no such thing as a virtual beer: people will still want to sit together. Anyway, here we go.

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Colbert officially withdraws Presidential bid; Obama supporters pressured South Carolina

Tuesday, November 6, 2007

Two prominent South Carolina supporters of Barack Obama pressured the state Democratic council to keep Stephen Colbert off the primary ballot. The Council voted 13-3 last week against Colbert’s placement on the ballot.

According to an anonymous member of the council who felt pressured, one of those people was State Superintendent of Education Inez Tenenbaum, who admitted she had made the calls. “I think lobbying was too strong a word,” she said in an interview with CNN. “I called them to see what they were thinking, and if they had made up their mind. I am a volunteer in that campaign, and so I am not a staffer. And I thought it could have taken votes away from a lot of people.”

Another Obama supporter, state Representative Bakari Sellers, also admitted to making the calls. “I placed the calls as a concerned Democrat, realizing that we are a country in despair,” Sellers told CNN. “It is not a time for games or to make a mockery of the process.”

Yesterday Colbert officially withdrew from the race. “I am shocked and saddened by the South Carolina Democratic Executive Council’s 13-to-3 vote to keep me off their presidential primary ballot,” he said in the statement. “Although I lost by the slimmest margin in presidential election history — only 10 votes — I have chosen not to put the country through another agonizing Supreme Court battle. It is time for this nation to heal.”

According to Tenenbaum, the reason she did not want Colbert on the ballot was financial and not political. For every name the Democrats put on the ballot in South Carolina, they have to pay US$20,000 to the state election commission.

The Obama campaign denied any connection to the phone calls.

In related news, at a book signing at Borders Book Store in New York City last night, a protester posing as a member of the press disrupted the event, demanding Colbert make statements about 7 World Trade Center. Despite preliminary findings by the Federal Emergency Management Agency and the National Institute of Standards and Technology that fire caused them, some conspiracy theorists believe the dramatic building collapses on September 11, including that of building seven, were the result of controlled demolition. NIST has “found no evidence of a blast or controlled demolition event”, though in its final report on building 7, they would “like to determine the magnitude of hypothetical blast scenarios that could have led to the structural failure of one or more critical elements.”

“What about World Trade Center Number 7, Stephen?” shouted the protester. “What are you going to say about that? Why don’t you give us a witty remark and make a joke about it? Keep smirking, Stephen!” The protester was removed by the book store’s security.

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One year on: Egyptians mark anniversary of protests that toppled Mubarak

Wednesday, January 25, 2012

Across Egypt hundreds of thousands have taken to the streets for the day, marking exactly one year since the outbreak of protests leading to 83-year-old longstanding ruler Hosni Mubarak’s downfall. The country’s decades-long emergency rule was partially lifted this week; meanwhile, a possible economic meltdown looms and a newly-elected parliament held their first meeting on Monday.

Despite the new parliament, military rule introduced following Mubarak’s fall last spring remains. Echoing the demands from a year ago, some protesters are demanding the military relinquish power; there are doubts an elected civilian leader will be permitted to replace the army.

The brief unity against Mubarak has since fragmented, with Secularists and Islamists marking the revolution’s anniversary splitting to opposing sides of Cairo’s famed Tahrir Square and chanting at each other. Initial demonstrations last year were mainly from young secularists; now, Islamic parties hold most of the new parliament’s seats — the country’s first democratic one in six decades.

Salafis hold 25% of the seats and 47% are held by the Muslim Brotherhood, which brought supporters to Cairo for the anniversary. Tahrir Square alone contained tens of thousands of people, some witnesses putting the crowd at 150,000 strong. It’s the largest number on the streets since the revolution.

Military rulers planned celebrations including pyrotechnics, commemorative coins, and air displays. The Supreme Council of Armed Forces took power after last year’s February 11 resignation of Mubarak.

Alaa al-Aswani, a pro-democracy activist writing in al-Masry al-Youm, said: “We must take to the streets on Wednesday, not to celebrate a revolution which has not achieved its goals, but to demonstrate peacefully our determination to achieve the objectives of the revolution,” — to “live in dignity, bring about justice, try the killers of the martyrs and achieve a minimum social justice”

Alexandria in the north and the eastern port city of Suez also saw large gatherings. It was bitter fighting in Suez led to the first of the revolution’s 850 casualties in ousting Mubarak. “We didn’t come out to celebrate. We came out to protest against the military council and to tell it to leave power immediately and hand over power to civilians,” said protestor Mohamed Ismail.

“Martyrs, sleep and rest. We will complete the struggle,” chanted crowds in Alexandria, a reference to the 850 ‘martyrs of the revolution’. No convictions are in yet although Mubarak is on trial. Photos of the dead were displayed in Tahrir Square. Young Tahrir chanters went with “Down with military rule” and “Revolution until victory, revolution in all of Egypt’s streets”.

If the protestors demanding the military leave power get their way, the Islamists celebrating election victory face a variety of challenges. For now, Field Marshall Mohamed Hussein Tantawi — whose career featured twenty years as defence minister under Mubarak — rules the nation and promises to cede power following presidential elections this year.

The economy is troubled and unemployment is up since Mubarak left. With tourism and foreign investment greatly lower than usual, budget and payment deficits are up — with the Central Bank eating into its reserves in a bid to keep the Egyptian pound from losing too much value.

Last week the nation sought US$3.2 billion from the International Monetary Fund. The IMF insists upon funding also being secured from other donors, and strong support from Egypt’s leaders. IMF estimates say the money could be handed over in a few months — whereas Egypt wanted it in a matter of weeks.

The country has managed to bolster trade with the United States and Jordan. Amr Abul Ata, Egyptian ambassador to the fellow Middle-East state, told The Jordan Times in an interview for the anniversary that trade between the nations increased in 2011, and he expects another increase this year. This despite insurgent attacks reducing Egyptian gas production — alongside electricity the main export to Jordan. Jordan exports foodstuffs to Egypt and has just signed a deal increasing the prices it pays for gas. 2011 trade between the countries was worth US$1 billion.

The anniversary also saw a new trade deal with the US, signed by foreign trade and industry minister Mahmoud Eisa and U.S. Trade Representative Ron Kirk. President Barack Obama promises work to improve U.S. investment in, and trade with, nations changing political systems after the Arab Spring. Details remain to be agreed, but various proposals include US assistance for Egyptian small and medium enterprises. Both nations intend subjecting plans to ministerial scrutiny.

The U.S. hailed “several historic milestones in its transition to democracy” within a matter of days of Egypt’s revolution. This despite U.S.-Egypt ties being close during Mubarak’s rule.

US$1 billion in grants has been received already from Qatar and Saudi Arabia but army rulers refused to take loans from Gulf nations despite offers-in-principle coming from nations including Qatar, Saudi Arabia, and United Arab Emirates. Foreign aid has trickled in; no money at all has been sent from G8 nations, despite the G8 Deauville Partnership earmarking US$20 billion for Arab Spring nations.

A total of US$7 billion was promised from the Gulf. The United Kingdom pledged to split £110 million between Egypt and Arab Spring initiator Tunisia. The European Bank for Reconstruction and Development says G8 money should start arriving in June, when the presidential election is scheduled.

The African Development Bank approved US$1.5 billion in loans whilst Mubarak still held power but, despite discussions since last March, no further funding has been agreed. The IMF offered a cheap loan six months ago, but was turned away. Foreign investment last year fell from US$6 billion to $375 million.

Rights, justice and public order remain contentious issues. Tantawi lifted the state of emergency on Tuesday, a day before the revolution’s anniversary, but left it in place to deal with the exception of ‘thuggery’. “This is not a real cancellation of the state of emergency,” said Islamist Wasat Party MP Essam Sultan. “The proper law designates the ending of the state of emergency completely or enforcing it completely, nothing in between.”

The same day, Amnesty International released a report on its efforts to establish basic human rights and end the death penalty in the country. Despite sending a ten-point manifesto to all 54 political parties, only the Egyptian Social Democratic Party (of the Egyptian Bloc liberals) and the left-wing Popular Socialist Alliance Party signed up. Measures included religious freedom, help to the impoverished, and rights for women. Elections did see a handful of women win seats in the new parliament.

The largest parliamentary group is the Freedom and Justice Party of the Muslim Brotherhood, who Amnesty say did not respond. Oral assurances on all but female rights and abolition of the death penalty were given by Al-Nour, the Salafist runners-up in the elections, but no written declaration or signature.

“We challenge the new parliament to use the opportunity of drafting the new constitution to guarantee all of these rights for all people in Egypt. The cornerstone must be non-discrimination and gender equality,” said Amnesty, noting that the first seven points were less contentious amongst the twelve responding parties. There was general agreement for free speech, free assembly, fair trials, investigating Mubarak’s 30-year rule for atrocities, and lifting the state of emergency. A more mixed response was given to ensuring no discrimination against LGBT individuals, whilst two parties claimed reports of Coptic Christian persecution are exaggerated.

Mubarak himself is a prominent contender for the death penalty, currently on trial for the killings of protesters. The five-man prosecution team are also seeking death for six senior police officers and the chief of security in the same case. Corruption offences are also being tried, with Gamal Mubarak and Alaa Mubarak accused alongside their father Hosni.

The prosecution case has been hampered by changes in witness testimony and there are complaints of Interior Ministry obstruction in producing evidence. Tantawi has testified in a closed hearing that Mubarak never ordered protesters shot.

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Hisham Talaat Moustafa, an ex-MP and real estate billionaire, is another death penalty candidate. He, alongside Ahmed Sukkari, was initially sentenced to death for the murder of his ex-girlfriend, Lebanese pop star Suzanne Tamim. A new trial was granted on procedural grounds and he is now serving a fifteen-year term for paying Sukkari US$2 million to slit 30-year-old’s Tamim’s throat in Dubai. Her assassin was caught when police followed him back to his hotel and found a shirt stained with her blood; he was in custody within two hours of the murder.

The court of appeals is now set to hear another trial for both men after the convictions were once more ruled unsound.

A military crackdown took place last November, the morning after a major protest, and sparking off days of violence. Egypt was wary of a repeat this week, with police and military massed near Tahrir Square whilst volunteers manned checkpoints into the square itself.

The military has pardoned and released at least 2,000 prisoners jailed following military trials, prominently including a blogger imprisoned for defaming the army and deemed troublesome for supporting Israel. 26-year-old Maikel Nabil was given a three year sentence in April. He has been on hunger strike alleging abuse at the hands of his captors. He wants normalised relations with Israel. Thousands have now left Tora prison in Cairo.

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Discover The Secrets To Losing Belly Fat Quickly And Easily

By Lee Dobbins

Getting rid of fat anywhere on the body is hard work, but many find that the tummy area is the worst. Even when you are thin and toned, you might still struggle with belly fat. The most annoying thing is that no matter what you do it just sticks there. Well, if you want to learn some secrets of how to get rid of belly fat, read on. There are 3 easy steps that you can follow to help you with your task of beating the belly fat.

Belly Girdles: They sound like some sort of medieval torture device, but girdles are actually one of the best ways to lose belly fat. They suck in and tuck in all the fatty layers giving you a flat shape. While they make you look good, they are also designed to increase your metabolism, and improve your circulation. They also boost your calorie burning abilities while exercising. They also provide a motivational factor as you can see the flat stomach you want encouraging you to work harder.

Extra Cardio: Cardio vascular activity is the main exercise that helps your body to burn off fat. Although you might have already burned off a lot of fat, the exercise you might be doing, is not enough anymore. Fat in other areas can be easier to lose, but belly fat will take a while. You might need to up your cardio routines. You can also challenge yourself with other kinds of cardio like dancing, aerobics, spinning, and cycling.

[youtube]http://www.youtube.com/watch?v=Mi_fFrfCQM0[/youtube]

Away with the Sugars: Even though you might have a very good, healthy eating plan, it could be the small amounts of sugar playing havoc with your fat loss. Sugars are very easily stored as fat, so you have to make sure that you burn them off almost straight away. You could have a small bar of chocolate before going jogging, or treat yourself to sugar in your tea if you are going to use the energy during the day.

Eat More Weight Less: While it may sound impossible, you can actually eat more and lose your belly fat in the process. But, I don’t mean eating more calories – I mean eating more times a day. Smaller meals eaten more frequently will help to keep your metabolism revved up and can help you burn more calories. Of course, you do have to watch what you eat and try to make your meals of low fat dairy, whole grains, lean meats, fruits and veggies. Aim for about 300-400 calories in your main meals and 3 snacks of 100-200 calories each.

Belly fat is just like any other fat on your body and all fat will respond to the same techniques. The thing with belly fat is that it is usually more dense and can seem like it is taking more time to burn off – that’s just because there is more of it! With these simple to follow methods you now know how to get rid of belly fat, and you can work to keep it off. You have to have patience though, and you will be rewarded.

About the Author: Next, find out more about the best way to lose belly fat and learn how you can finally get into those skinny jeans again!

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Wikinews interviews World Wide Web co-inventor Robert Cailliau

Thursday, August 16, 2007

The name Robert Cailliau may not ring a bell to the general public, but his invention is the reason why you are reading this: Dr. Cailliau together with his colleague Sir Tim Berners-Lee invented the World Wide Web, making the internet accessible so it could grow from an academic tool to a mass communication medium. Last January Dr. Cailliau retired from CERN, the European particle physics lab where the WWW emerged.

Wikinews offered the engineer a virtual beer from his native country Belgium, and conducted an e-mail interview with him (which started about three weeks ago) about the history and the future of the web and his life and work.

Wikinews: At the start of this interview, we would like to offer you a fresh pint on a terrace, but since this is an e-mail interview, we will limit ourselves to a virtual beer, which you can enjoy here.

Robert Cailliau: Yes, I myself once (at the 2nd international WWW Conference, Chicago) said that there is no such thing as a virtual beer: people will still want to sit together. Anyway, here we go.

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KKE: Interview with the Greek Communist Party

Thursday, May 13, 2010

Wikinews reporter Iain Macdonald has performed an interview with Dr Isabella Margara, a London-based member of the Communist Party of Greece (KKE). In the interview Margara sets out the communist response to current events in Greece as well as discussing the viability of a communist economy for the nation. She also hit back at Petros Tzomakas, a member of another Greek far-left party which criticised KKE in a previous interview.

The interview comes amid tensions in cash-strapped Greece, where the government is introducing controversial austerity measures to try to ease the nation’s debt-problem. An international rescue package has been prepared by European Union member states and the International Monetary Fund – should Greece require a bailout; protests have been held against government attempts to manage the economic situation.

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Market maker Bernard L. Madoff arrested in $50B ‘giant Ponzi scheme’

 Correction — January 10, 2009 This article incorrectly states that Mr Madoff attended Hofstra University Law School. His education was actually with Hofstra College, which he graduated from in 1960. 

Friday, December 12, 2008

Top broker and Wall Street adviser Bernard L. Madoff, aged 70, was arrested and charged by the FBI on Thursday with a single count of securities fraud, also known as stock fraud and investment fraud. He allegedly told senior employees of his firm on Wednesday that his $50 billion business “is all just one big lie” and that it was “basically, a giant Ponzi scheme (since at least 2005).” Mr. Madoff faces up to 20 years imprisonment and a fine of up to $5 million. FBI agent Theodore Cacioppi said Mr. Madoff’s investment advisory business had “deceived investors by operating a securities business in which he traded and lost investor money, and then paid certain investors purported returns on investment with the principal received from other, different investors, which resulted in investors’ losses of approximately $50 billion dollars.”

The former chairman of the Nasdaq Stock Market is also the founder and primary owner of Bernard L. Madoff Investment Securities LLC, the closely-held market-making firm he launched in 1960. The firm is one of the top market maker firms on Wall Street. He founded his family firm with an initial investment of $5,000, after attending Hofstra University Law School. He saved the money earned from a job lifeguarding at Rockaway Beach in Queens and a part time job installing underground sprinkler systems.

A force in Wall Street trading for nearly 50 years, he has been active in the National Association of Securities Dealers (NASD), a self-regulatory organization for the U.S. securities industry. His firm was one of the five most active firms in the development of the NASDAQ, having been known for “paying for order flow,” in other word paying a broker to execute a customer’s order through Madoff. He argued that the payment to the broker did not alter the price that the customer received. He ran the investment advisory as a secretive business, however.

Dan Horwitz, counsel of Mr. Madoff, in an interview, said that “he is a longstanding leader in the financial-services industry with an unblemished record; he is a person of integrity; he intends to fight to get through this unfortunate event.” Mr. Madoff was released on his own recognizance on the same day of his arrest, after his 2 sons turned him in, and posting $10 million bail secured by his Manhattan apartment. Without entering any plea, the Court set the preliminary hearing for January 12.

Madoff’s hedge fund scheme may rank among the biggest fraud in history. When former energy trading giant Enron filed for bankruptcy in 2001, one of the largest at the time, it had $63.4 billion in assets. The scheme would dwarf past Ponzis, and it would further be nearly five times the telecommunication company WorldCom fraud and bankruptcy proceedings in 2002.

The Securities and Exchange Commission filed a separate civil suit on Thursday against Bernard L. Madoff Investment Securities and its eponymous founder Mr. Madoff. It was docketed as “U.S. v. Madoff,” 08-MAG-02735, by the U.S. District Court for the Southern District of New York (Manhattan). SEC, New York associate director of enforcement, Andrew M. Calamari, asked the judge to issue seizure orders on the firm and its assets, and appoint a receiver. The SEC pleads, among others, that “it was an ongoing $50 billion swindle; our complaint alleges a stunning fraud that appears to be of epic proportions.” It further accused the defendant of “paying returns to certain investors out of the principal received from other, different investors” for years. Madoff’s hedge fund business had previously claimed to have served between 11 and 25 clients and had $17.1 billion in assets under management. But virtually all of the assets were missing.

United States District Court for the Southern District of New York Louis L. Stanton on Thursday appointed Lee Richards, a Manhattan lawyer, as the firm’s receiver. A hearing is set for Friday, for a ruling on the SEC’s petition to grant plenary powers to the receiver over the entire firm, and an absolute asset sequestration.

Doug Kass, president of hedge fund Seabreeze Partners Management said that “this is a major blow to confidence that is already shattered — anyone on the fence will probably try to take their money out.”

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