Month September 2011

Texas fires

I lived in southern California for many years and experienced some hellacious wildfires. But as bad as they were, they pale before what Texas is going through now. The fire near Austin destroyed 300 homes in one day. You’d had…

European financial markets get slaughtered

Major indexes are down over 5% with some big banks down 7-8%. Greek 1 and 2 year bonds are trading over 50% on yield. That’s not a yield, it’s an implied recovery on a default which the market now says…

FDA to charge fees to re-examine imported food

The fee is for re-examining food where there was a violation during the first examination. Yet FDA may not actually examine the food the first time. It get murkier. The new regulations may be so broadly worded that the $224…