Day February 28, 2008

Yet another debt market freezes

Variable-rate demand notes are long-term debt where the interest rate fluctuates on a short-term, sometimes weekly basis. Like their cousins before them; subprime, CDOs, SIEs, SIVs, and the rest of the toxic alphabet soup, these notes have just done a…

‘Virtual fence’ isn’t

The BushCo plan to build a highly automated “virtual fence” at the US – Mexico border is now years behind schedule because, well, all their ballyhooed technological spying devices don’t work. Software integration issues stymied a timely launch. In the…