Warren Buffett’s reputation as a financial prophet has been tarnished in the past year, as Berkshire Hathaway’s value has plummeted, dropping by almost $12 billion in 2008.

A top lieutenant of Stanford Financial Group was arrested Thursday and charged with obstructing the federal investigation of the offshore financial empire founded by Texas financier R. Allen Stanford.

Despite intense, behind-the-scenes lobbying by some Jewish groups, the Obama administration yesterday tapped veteran diplomat Chas W. Freeman Jr. to head the National Intelligence Council in what may be its most controversial appointment yet.

Ashton B. Carter is the Harvard physicist who first cast cold water on President Ronald Reagan’s “Star Wars” plan to build a missile shield to protect the U.S. from nuclear attack.

Banker bashing rules the day. So it was a surprise Tuesday when President Barack Obama praised Leonard L. Abess Jr., CEO of City National Bank of Florida.

Relatives of New Jersey Sen. Frank Lautenberg are pursuing a novel approach to try to recover millions they lost in Bernard Madoff’s alleged $50 billion Ponzi scheme. They’re suing his brother.