Many kinds of investors see themselves as people who have learned to game the system- get money without directly producing a product. That kind of investor thrives in an unregulated environment where they can take advantage of stuff like insider trading.
he legal developments came after SEC Chairman Christopher Cox said yesterday that his agency failed to act on “credible, specific” allegations about Madoff dating back to 1999. The Madoff affair will be at the center of planned congressional hearings on the reform of the SEC, said a senior Senate official, speaking on condition of anonymity.
The allegations “were repeatedly brought to the attention of SEC staff, but were never recommended to the commission for action,” Cox, 56, said in a statement yesterday, without detailing the allegations. He announced an internal probe to review the “deeply troubling” revelations.
Sounds like he's just trying to cover his ass. We all know where this internal probe should be placed.
First, we buy and throw away for an economy. Second, new (and cheap?) cars with updated technology will be like the Iphone or Ipod Touch - gotta have one.
This article surprised me. But if Chrysler really goes after the low end, they might, just might make it - if this country doesn't let them die.
Instead of making one, or just a few, electric-only models, Chrysler will sell the same models in both gasoline-powered and electric-powered versions. This low-cost, high-variety electric-vehicle strategy will play a big part in any comeback plan Chrysler may present in hopes of getting government rescue funding.
Chrysler's strategy substantially cuts costs, Rhodes said, and it reduces the risk of entering uncharted market territory. That will translate into lower costs and more choices for customers.
If gas prices stay low, Chrysler factories will produce more gasoline powered models. If gas prices rise, factories can start rapidly turning out more electric cars since the models are essentially the same.
Chrysler's first electric vehicles will be based on current vehicles. The carmaker hasn't yet announced what the first model will be but, based on prototypes Chrysler revealed in September, it will likely be a minivan, a Jeep Wrangler 4X4 or a 2-seat sports car built in a Lotus body.
from a study conducted, higher gas prices has something to do with refining capacity. Even if oil were super cheap, we would still have a problem converting that oil into gasoline that fuels our economy which would keep gas prices high. Anybody can tell on how to save gas aside from hypermiling techniques?
We've effectively been at ZIRP for some time and now we're really at ZIRP and the Fed has flooded the system with cash resulting in...suprise!...a 30 fold expansion of excess reserves at the Fed. I guess the reasoning was that if a policy fails on a large scale in Japan, it should work on a gargantuan scale in the US. Wow, who wouldathunk that wasn't going to work. So do we conclude that the geniuses at the Fed are not just corrupt but intellectually handicapped? At the same time, Japan engaged in a decade long effort of public works infrastructure projects, building bridges to nowhere among other things and exapnding their debt to 150% GDP. That didn't work so well either. But guess what we're going to do. Yes, we are the new Japan. I suppose we'd better sharpen our skills with chopsticks. As for the sushi, in the US you'd better be ready to ask, "Does that come with melamine?".
Geithner invited a Wall Street CEO to the meeting when the AIG bailout was arranged. It wasn't just any CEO, it was Lloyd Blankfein of Goldman Sachs. That raised a lot of eyebrows, even on Wall Street. It's been suggested that GS had substantial exposure to CDSs with AIG as counterparty. That's a logical but unproven conclusion, but very consistent with the culture of corruption. That Goldman Sachs has been hurt the least of the all the Wall Street Investment Banks is unlikely due to the technical brilliance of its employees. I'm quite confidant that AIG has filled more than a few gaping holes in the GS balance sheet courtesy of the Chinese Government and US taxpayers.
....Logitech Squeezebox, what a total gas that thing is, you hear a lot of whining about how, 'the banks are not lending....', 'the credit freeze is still on... and,
'It seems there is nothing we can do, nor is there any institution we populists can use push things in the proper direction for all stakeholders: Prosperity.
You are gonna hear a lot of this CW B.S. the truth is we just took the first big step towards getting the most effective institution we have moving. That would be the...
...Government.
Even populists have bought off, in some cases, on the 'conservative' right wingers lie that...
'The Government is the problem, not the solution.' Well, look how well that mindset worked. Great for St. Ronnie...the rest of us; not so much.
Robert's comment is a timely one as those who want to make debt slaves of us will in the coming months double and redouble their efforts to distract us from the power we now have. The government can mandate that banks start loaning money. Simple as that.
Socialism, communism...
If you think that you really don't understand the last 3000 years of civilization nor the serious problem we face right now.
http://www.federalreserve.gov/newsevents/press/bcreg/highlightscredit200... has a summary of highlights, and http://www.federalreserve.gov/newsevents/press/bcreg/20080502a.htm is the press release including links to the proposal. http://online.wsj.com/article/SB122930067098005381.html?mod=googlenews_wsj mentions at the end one important thing they've decided to leave out of their new rules for now, but overall it's a major win in terms of consumer credit card protections.
The Bank of Japan has been the only major central bank in modern times to mix a policy of steep rate reductions with quantitative easing, or the strategy of injecting more reserves into the banking system than needed to keep the target interest rate at zero.
Japan’s central bank kept its main rate at zero from 2001 to 2006 while flooding the banking system with extra cash to encourage lending, spur growth and overcome deflation. The abundant funds failed to prompt lending by commercial banks, which expanded their reserves at the central bank almost nine times by early 2004.
Many kinds of investors see themselves as people who have learned to game the system- get money without directly producing a product. That kind of investor thrives in an unregulated environment where they can take advantage of stuff like insider trading.
is to put the United States in pure 3rd world status. I guess then we have creative destruction and can be an emerging economy.
would you invest in a country whose securities watchdog had been put to sleep?
Bloomberg:
Sounds like he's just trying to cover his ass. We all know where this internal probe should be placed.
Got nothing on these guys.
I would like to thank you and appreciate your efforts you have made in making this post.
I hope they cut them off at the knees.
They're asking for another four years -- in a just world, they'd get 10 to 20 ~~ Dennis Kucinich
First, we buy and throw away for an economy. Second, new (and cheap?) cars with updated technology will be like the Iphone or Ipod Touch - gotta have one.
This article surprised me. But if Chrysler really goes after the low end, they might, just might make it - if this country doesn't let them die.
link
They're asking for another four years -- in a just world, they'd get 10 to 20 ~~ Dennis Kucinich
this article is somewhat very useful and informative.. thanks
from a study conducted, higher gas prices has something to do with refining capacity. Even if oil were super cheap, we would still have a problem converting that oil into gasoline that fuels our economy which would keep gas prices high. Anybody can tell on how to save gas aside from hypermiling techniques?
It seems Sweden for one is a better response model.
We've effectively been at ZIRP for some time and now we're really at ZIRP and the Fed has flooded the system with cash resulting in...suprise!...a 30 fold expansion of excess reserves at the Fed. I guess the reasoning was that if a policy fails on a large scale in Japan, it should work on a gargantuan scale in the US. Wow, who wouldathunk that wasn't going to work. So do we conclude that the geniuses at the Fed are not just corrupt but intellectually handicapped? At the same time, Japan engaged in a decade long effort of public works infrastructure projects, building bridges to nowhere among other things and exapnding their debt to 150% GDP. That didn't work so well either. But guess what we're going to do. Yes, we are the new Japan. I suppose we'd better sharpen our skills with chopsticks. As for the sushi, in the US you'd better be ready to ask, "Does that come with melamine?".
Geithner invited a Wall Street CEO to the meeting when the AIG bailout was arranged. It wasn't just any CEO, it was Lloyd Blankfein of Goldman Sachs. That raised a lot of eyebrows, even on Wall Street. It's been suggested that GS had substantial exposure to CDSs with AIG as counterparty. That's a logical but unproven conclusion, but very consistent with the culture of corruption. That Goldman Sachs has been hurt the least of the all the Wall Street Investment Banks is unlikely due to the technical brilliance of its employees. I'm quite confidant that AIG has filled more than a few gaping holes in the GS balance sheet courtesy of the Chinese Government and US taxpayers.
At last, we finally have a real partner in government?
That is one amazing piece of intel....oh boy, change you can bank on, Geithner.
....Logitech Squeezebox, what a total gas that thing is, you hear a lot of whining about how, 'the banks are not lending....', 'the credit freeze is still on... and,
'It seems there is nothing we can do, nor is there any institution we populists can use push things in the proper direction for all stakeholders: Prosperity.
You are gonna hear a lot of this CW B.S. the truth is we just took the first big step towards getting the most effective institution we have moving. That would be the...
...Government.
Even populists have bought off, in some cases, on the 'conservative' right wingers lie that...
'The Government is the problem, not the solution.' Well, look how well that mindset worked. Great for St. Ronnie...the rest of us; not so much.
Robert's comment is a timely one as those who want to make debt slaves of us will in the coming months double and redouble their efforts to distract us from the power we now have. The government can mandate that banks start loaning money. Simple as that.
Socialism, communism...
If you think that you really don't understand the last 3000 years of civilization nor the serious problem we face right now.
http://www.federalreserve.gov/newsevents/press/bcreg/highlightscredit200... has a summary of highlights, and http://www.federalreserve.gov/newsevents/press/bcreg/20080502a.htm is the press release including links to the proposal. http://online.wsj.com/article/SB122930067098005381.html?mod=googlenews_wsj mentions at the end one important thing they've decided to leave out of their new rules for now, but overall it's a major win in terms of consumer credit card protections.
This is nice, it appears Barry Ritholtz over at the Big Picture read NDD's work and posted it.
Glad to see the effort is read & noticed, this is such a good piece of writing and research!
as well as 1918? Is that a temporary shortage due to WWI and resulting "adjustment" back due to post war conditions?
are they going to pay to lend money next? I think someone is going to pay for this, ah the ghost of Greenspan as well as the Japanese.
From Bloomberg:
Among developed areas in the world, the area with the worst cancer survival rate is, SURPRISE, Western Europe:
http://telegraph.co.uk/news/main.jhtml?xml=/news/2007/05/10/ncancer10.xml
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