CBS News – Here’s a switch: a dozen hedge funds are accusing a California businessman of "playing dirty" with their money and even the name Sarah Palin is a "player" in the defendant’s prior ventures, according to the New York Daily News.

The suit alleges Milton Ault the 3rd stiffed the hedge funds out of their $4.2 million investment in Ault’s firm, Zealous Inc., by shoveling the money into porn, including a publicly traded gentleman’s club and a planned swingers ranch in New York’s Catskill Mountains, according to the paper.

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Boston Globe – At a time when most foundations are cutting back or maintaining last year’s spending, a few are doing what hedge fund manager Ken Nickerson of the Eos Foundation calls "counter-cyclical giving." They’re increasing their grants.

Nickerson heard a story last October that helped him decide how to steer his family foundation through this severe recession: A gentleman visiting a local food pantry offered $5 for his groceries. Even after a pantry worker assured him they were free, the man insisted on paying. "There are people out there who need this $5 more than me," he said. The worker then laid his own $5 on the counter. Others did the same, and within moments the food pantry had collected $50.

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