NY Times weighs in on financial reform: “loopholes.” Too many derivatives trades are exempted from public disclosure on exchanges. Too many users are subject to relaxed scrutiny. Regulation in hindsight is not adequate to prevent systemic collapse. It is not clear in the reform bills if synthetic CDO’s would be traded on exchanges and subject [...]
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A mere 5 min stop per station [between two Chinese cities] (elderly passengers cannot be hurried) will result in a total loss of 5 min x 30 stations or 2.5 hours of train journey time! So, what if the train didn’t have to stop? (Audio in Mandarin) Michael Lewis If you happen to be sitting on the Goldman Sachs bond-trading floor life must feel horribly unfair. You did nothing worse than live by the ethical assumptions of your market — any money-making event short of obviously illegal is admirable — and now your own grandfather thinks you’re some kind of monster. [...] The Rogers Family Company – a California-based, international roaster of “Fairly Traded” and “Direct Trade” gourmet coffee – is deploying a ‘green’ army of billions of red earthworms to create nutrient-rich, organic fertilizer to help small coffee farmers and promote organic coffee production in Central America and Africa. The worms also aerate the soil and [...] Goldman Sachs CEO blubbers about how unfair the lawsuits are No, seriously, he really did just say that. Completely delusional. And cracking under the pressure. Dang. The idea that an SEC enforcement action on a lone transaction is tantamount to a campaign to “kill” the firm is bizarre…It suggests either hypersensitivity to bad press, [...] California Aqueduct “Whiskey is for drinking, water is for fighting over,” said Mark Twain, which is certainly true here in California and in the southwest in general. The problem, of course, is that much of our water comes from someplace else, like the Owens Valley, Colorado River, or the Sacramento-San Joaquin River Delta, and [...] California’s budget crisis is actually much less than they’re spending on the war in Afghanistan. $26 billion for the budget vs $38 billion for war. And what do they get for it? It’s not better to live in California thanks to the war. It’s actually getting much, much worse. [...] South Korean ship was sunk by North Korea torpedo 56% of Californians support legalizing pot in November election John Paulson now raging bull on housing and economy. (He shorted that Goldman CDO of mortgages and made billions a few years ago.) Greece welcomes its new IMF overlords with day of rioting and national strikes [...] |  | ||||
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