Santander offers Madoff compensation - papers

Santander, which is the first to offer compensation for Madoff losses, said that it would repay the original investments of individual customers, but not institutions. It said that it had acted with due diligence when one of its funds, Optimal Strategic US Equity, commissioned Mr Madoff to handle investments by some of its clients. The bank said that it was offering to give clients back their initial investment, in the form of preference shares, but not interest accrued through Madoff funds. CITIGROUP WON'T BE GETTING a new corporate jet after pressure from President Barack Obama over...