(Hot Trends article updated with information on the Medicare scams and the Apple press conference.)
NEW YORK (
) -- Medicare is a popular search term today after Federal authorities announced the arrest of 36 people connected to Medicare scams totaling $251 million. Authorities said several doctors and nurses in five states were among those arrested and accused of wrongfully billing Medicare for equipment that patients never received.
"With today's arrests we're putting would-be criminals on notice. Health care fraud is no longer a safe bet," said Attorney General Eric Holder.
Federal officials have recently cracked down on Medicare fraud and intend to continue to actively seek out scammers.
to discuss the reception problems with the iPhone 4, a situation that has been dubbed
recalling their latest smartphone
, Apple CEO Steve Jobs announced that the company will distribute
free protective cases to iPhone owners
to fix the reception problem created by the antenna design.
Customers who have already bought the phone or those who buy the model before September 30 are eligible to receive a free case.
Searches for information on a recall of Kellogg cereals are up today after the Food and Drug Administration announced that
has voluntarily recalled several breakfast cereals due to an odor coming from the package liner. The cereals affected by the recall include Apple Jacks, Corn Pops, Froot Loops, and Honey Smacks.
"We apologize to our consumers and our customers and are working diligently to ensure that the affected products are rapidly removed from the marketplace," said David Mackay, president and CEO of Kellogg.
Consumers who find that their cereal has an "uncharacteristic off-flavor and smell" should not eat them and should contact Kellogg for a refund or replacement.
Health care is a popular search topic today after the Federal Communications Commission proposed a new health care program that would improve Internet connectivity for patients in rural areas.
The program would allocate up to $400 million a year for health care facilities in rural areas to provide patients access to state-of-the-art diagnostic tools and better technology to make broadband connectivity available.
"The program's investment in broadband connectivity would not only improve medical care, but also help reduce health care costs," Thursday's proposal read.
is a trending topic on Google after the company reached an agreement to
to settle charges relating to the ABACUS 2007-AC1 CDO offering.
Goldman Sachs has neither admitted nor denied the accusations levied by the SEC. However, in a press release the company acknowledged "that the marketing materials for the ABACUS 2007-ACI transaction contained incomplete information. In particular, it was a mistake for the Goldman marketing materials to state that the reference portfolio was 'selected by' ACA Management LLC without disclosing the role of
in the portfolio selection process and that Paulson's economic interests were adverse to CDO investors. Goldman regrets that the marketing materials did not contain that disclosure."
Approximately $150 million of the settlement will go to German bank
IKB Deutsche Industriebank
, and $100 million will go to
Royal Bank of Scotland
The chatter on Main Street (a.k.a. Google) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on Google, and highlights the news that could make stocks move.
-- Reported by Theresa McCabe in Boston.
Follow Theresa McCabe on
and become a fan on
Copyright 2010 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.