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Archive for the 'Time' Category
Time: Wassup 2008
One of the best replies / follow-ups on the famous Budweiser advertising campaign a few years ago. The guys from the original spot get together eight years later and its wassup on the financial crisis, the lack of a health system, the housing market and being still in Iraq. So what’s up B?
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INet: Google adds email sobriety test
Google has acted to protect its users against a seemingly widespread problem with email: Once you’ve pressed the send button it’s out in the wild. And some times you might have written something you shouldn’t have send to that person.
Seemingly for many this phenomenon occurs more frequently at certain times of the week / day - let’s say late Friday night.
From now on you can setup your Gmail account that at…
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Quote of the day: Office
The brain is a wonderful organ; it starts working the moment you get up in the morning, and does not stop until you get to the office.
Robert Frost, American Poet
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Germany: Bank Robbers ante portas
There was a lot of hectic movement with governments around the world the last weeks to confine the disasters from betting / wild casino speculation within financial institutions. Approaches and road maps laid out (if any) are pointing to different directions even in the key G7 developed countries.
The U.S. - for example - first wanted to give absolute powers to the executive branch and the government - a move widely criticized and changed by the U.S. Congress in the debates following the first bailout plan.
France and the UK have taken another road and bailing out their banks by providing funds only against a collateral - meaning they are de-facto nationalizes key players in their finance industries. France even went a step further with President Sarkozy calling for the creation of national industry funds to stop the fire sales of key industrial players to overseas investors - an interesting step that found much applause with the European Parliament. If you think that further it…
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Quote of the day: Life
It’s better to die upon your feet than to live upon your knees!
¡Prefiero morir de pie que vivir siempre arrodillado!
Emiliano Zapata Salazar (1879 – 1919) - Mexican Revolutionary
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Health: Millions of lives to save - XDR-TB
…Legendary photojournalist James Nachtwey sees his TED Prize wish come true, as we share his powerful photographs of XDR-TB, a new, drug-resistant strain of tuberculosis that’s touching off a global medical crisis…
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Music: Hitler Rap
Just a reminder to look out for.
Like at those days its just a question of the packaging how they again are bringing the Nazis in through the back door. Could those who know where some of these trillions and the majority of the so called government “humanitarian aid” is really going to please step forward and have a say…
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Quote of the day: Funerals
No matter how rich you become, how famous or powerful, when you die the size of your funeral will still pretty much depend on the weather.
Michael Pritchard aka Mike Dirnt, 1972 - musician
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Financial Crisis: How to say good by in style
One of the big questions and one some of us are getting asked quite a few times these days is it already time to buy back or still better to wait was answered by a Californian hedge fund manager - Andrew Lahde - who made one of the biggest percentage profits of all time and bowed out of the business last Friday with a fierce attack on the “idiots” running big banks who were willing to take the other side of his bets.
He also demonstrated how to say good by in style (when you’ve made your profit).
Below a quote from the letter he sent out and published on the INet (link to full text below)…
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Financial Crisis 101: Why CDS could never work
Many still call or describe CDS (Credit Default Swaps) as a kind of insurance policy against credit risk to limit the risk of the lender. Well that might be so in their dreams or it has been used as a camouflage by the bankers to persuade the investors of the quality - or to mislead them on the lack of it - and suggest that there would be an underlying asset.
And that’s were all the problems start. To issue or construct a CDS there was never a requirement to actually being linked to, i.e. having provided or taken out the credit or having an contractual agreement with these two parties.
Everybody could issue CDS completely unregulated and unlimited. This is of course the reason for the incredible amounts being pushed around and it also provides the reason that - in rare cases CDS might have been an insurance against credit defaults - but in general these papers were only betting slips if certain events might occur most similar to betting on horses or dogs races.
If these instruments would have only been allowed to use for …
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