French insurer pays Armenian genocide claims
Bob Morris @ Nov 19th 2007 15:01 - Category: Uncategorized Tags: Armenian genocide;
So I guess they think it happened, eh?
Archive for November 19th, 2007
Thank you again, Panera Bread
Bob Morris @ Nov 19th 2007 10:30 - Category: Unfiled ;
Our cable modem is down at the house (should be fixed by later today), so I’m blogging from the always wonderful Panera Bread - good food and coffee - and free wi-fi.
Then: Still in Saigon
Bob Morris @ Nov 19th 2007 07:44 - Category: Anti-war ;
Now: Still in Baghdad. The walking wounded.
More cheery economic news
Bob Morris @ Nov 19th 2007 00:23 - Category: Unfiled ;
There’s a greater than 50 percent probability that the financial system “will come to a grinding halt” because of losses from mortgages, Gregory Peters, head of credit strategy at Morgan Stanley, said.
Long version - from The Oil Drum, a comprehensive look at the credit crisis and the dominoes about to fall next, specifically bond insurer companies. One unbelievable fact, a bond could be worthless, but if a bond insurer insures it, then the bond assumes the AAA rating of the insurer.
Except now the bond insurers are in trouble. If they lose their AAA ratings, then pension funds and other such entities are legally required to sell bonds insured by them because those bonds will no longer be AAA-rated. Sounds like a giant Ponzi scheme, doesn’t it?
Any questions?
Bob Morris @ Nov 19th 2007 00:11 - Category: Unfiled ;
Global warming to continue for centuries, UN saysClimate change may continue for centuries, and governments will have to spend billions of dollars annually to slow warming and adapt to its effects, a United Nations panel said.
Somehow, someway, we as a planet need to start working together on solutions for global warming. Starting now.
