Cringely thinks so.
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Stanford University recently released an analysis of the three big public pension funds in California saying they are woefully underfunded, with a potential shortfall of over $500 billion, much larger than their publicly stated shortfall of $55.4 billion. They based this on assuming a 4.14% return, on what risk-free U.S. Treasuries yield, rather than [...] Any questions? A model of clarity, indeed. Those with suspicious minds believe such deals were deliberately made as opaque as possible. Which would make perfect sense if you were designing deliberate slop to sell to the unwary that you then shorted. It stores hydrogen at low pressure and does it quickly The tank could be connected to a hydrogen production system that could be powered using electricity from a wind farm or solar power plant to be stored. Once stored, the hydrogen could either be converted back to electricity using a fuel cell, or used to [...] Testifying at House FinServ hearing Lehman’s story is a story of fraud, their subprime and liar loans operations. They sold it to the world. Regulatory heads blocked reform. We knew for a decade these were frauds. But DC did nothing. When Black was Litigation Director of Federal Home Loan Bank board in the [...] Please Fire Me details life in cubicle hell. Please Fire Me office submission Among the written submissions: Please fire me. The guy in the cube next to me has a liter bottle of Germ-X on his desk, but constantly coughs without covering his mouth. Please fire me. We are still waiting on magical software [...] We just moved to cloud servers from our old account at Laughing Squid. Virtually the same price but triple the bandwidth and quadruple the storage. Now we have room to grow. Big thanks to Jamie Holly, the wizard behind the curtain at Crooks and Liars, for helping in the move. He single-handedly writes most of [...] An honest 420 look at marijuana in Afghanistan. There is definitely a huge drug problem, and our strategy seems to be the cause of it. Our allies that we desperately rely on are all high on drugs, selling drugs, or both. And not only are we paying for it, people are dying because of it. [...] DJ on the continuing and escalating internal conflict here in the US, with the two mostly identical parties pretending to fight each other. Two possible answers are not much removed from each other: money and power. Both parties have consistently voted to roll back civil rights. Both parties have consistently voted in favor af massive [...] Goldman says Magnetar did just what they did. Magnetar says Goldman did the same thing. Their argument that “everyone else did it too” is the most telling. It’s a needless argument if they didn’t do anything illegal. A hint of what’s coming: AIG might sue Goldman. |  | ||||
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