Facebook's ownership is becoming murkier by the minute. During a court hearing Tuesday, the social networking company's attorney said she was "unsure" whether founder Mark Zuckerberg signed a contract that could potentially give an 84% stake in the company to Paul Ceglia, a New York businessman.
Goldman Sachs CEO Lloyd Blankfein loves to recount how he rose up from the mean streets of Brooklyn and went to Harvard on scholarship and on to its law school. But he turned around and bit the hand that fed him, to the tune of at least $100 million, when Harvard found itself on the wrong side of a synthetic CDO bet with Goldman.
Harvard alumni usually end up doing pretty well for themselves. But one alumnus, former U.S. Treasury Secretary and current Obama economic advisor Larry Summers has bequeathed a big financial problem to his alma mater - a massive losing gamble on interest rates.