There was a comedy of failure that lead us to this meltdown. Everyone was to blame.
True, Fannie and Freddie were put under pressure. But let us not forget passage of the 1999 Republican Financial Services Modernization Act that repealed Glass-Steagall, supported by Joe Biden, Robert Rubin and Larry Summers, signed by President Clinton. It passed the Senate with 90 votes.
Then the 2001 Commodity Futures Modernization Act sponsored by Republications and signed by Clinton. This gave birth to the securitization of bundled loans making it effortless to pass risky loans to suckers and insure that risk with the infamous credit default swap.
Lastly, the lax regulation from the Securities and Exchange Commission in 2004 that allowed investment banks to increase leverage from 12-1 to 40-1. This meltdown seems to be a truly epic governmental failure and the only true bipartisan thing our government has done is sometime.
The talking heads on CNBC are all smiles and “greed is good”. No one is really raising the serious issues because they are in bed with all the cheating, lying SOBs that put us in this position.
No one seems to heed the age old saying: Caveat emptor.
Why didn't those in charge of the people’s money do any homework on the investments that turned out to be shams, because they're morons and should be put in jail.
I’ve seen reports estimating there are 44 lobbyists for each member of congress. That figure is expected to rise to 70 “stimulated” douche bags per greedy politician in the near future. The Ken Burn’s series, The National Parks segment on the Grand Canyon is a perfect metaphor for what is about to happen to the US. We need to prevent those who are willing to destroy us for personal monetary gain.
I applaud the London Evening Standard's acceptance of the future and for embracing their new business model to innovate and live on. This will leave the “paywallers” to ponder their futures much more carefully.
I wonder how the guy who holds up a bag of drugs in the following Burning Man video got away from the several jurisdictions of law enforcement. You’re a fool if you don’t think illegal drugs are being used, hell, I went to a concert in the middle of a city last weekend and there were people sitting on the grass smoking dope and doing all manor of hallucinogens and X. Pull your head out of your ass and face reality, illegal drugs are everywhere. The video sure looks and sounds like a hippie gathering to me. http://www.youtube.com/watch?v=MYEBdlRLJhI
I noticed today on CNBC that Kodak is in jeopardy of being delisted from the S&P 500 because it is too small. At one point, Kodak was King, but it appears they did not innovate due to all the reasons listed above. They are now a forgotten company that has been replaced by innovators.
How do these guys justify allowing massive illegal drug consumption, but get uptight about pictures and video posts? Cartman: “They're not people! They're hippies!”
He's copy written the printed booklet so it can't be used in textbooks unless he authorizes the method's printing in said textbook. That shouldn’t stop a teacher from teaching said method if that teacher/school purchases the $33 copy of the pamphlet and teaches the idea.
Tiger Woods was fined by the PGA (Professional Golfers Association) for speaking his mind, in America. The PGA rule, Section VI-D in the PGA Tour's player handbook says, "It is an obligation of membership to refrain from comments to the news media that unreasonably attack or disparage tournaments, sponsors, fellow members, players, or PGA Tour."
It is very sad that expressing your opinion is punishable if you belong to a professional organization like the PGA. The Constitution’s Bill of Rights are being destroyed day by day.
Iran is a good test case, the people are working around many of the governmental blocks. I saw a tv news report where the moderate officials decided to boycott a session of their governmental meetings. There were gathering by the boycotting government officials and a segment of the popular is still defiant for now. Stay tuned…
We have seen how corporations deal with people, we are a means to an end (profit), expendable and disposable. Corporations are trying to tyrannize our books, music, news, television, healthcare, Internet; they will stop at nothing to enslave us all.
“By 2050—earlier, probably—all real knowledge of Oldspeak will have disappeared. The whole literature of the past will have been destroyed. Chaucer, Shakespeare, Milton, Byron—they'll exist only in Newspeak versions, not merely changed into something different, but actually contradictory of what they used to be.”
-George Orwell, (1949). Nineteen Eighty-Four
Just to be clear, child porn providers and such should be hunted down and brought to justice, but dead bodies and binary data are two different things.
Binary data can easily be manipulated or planted unlike dead bodies. How do you know the tech wasn't the child porn supplier? He could have been installing the encrypted data on the computer so it could be used as a drone by other child porn sickos, but got caught by a coworker and blamed the naive customer. Yea, you're right, that could NEVER happen.
Assuming all computer techs are upstanding citizens, let alone the public at large, is something this ruling has determined as accurate.
Especially if that person didn't have anything incriminating on the computer when he gave it to the tech, but the tech put something incriminating on the computer. The owner should be KILLED right there on the spot.
The flipside, everyone is innocent until Proven guilty. How do know that some wise-guy didn't dump the body in the trunk or a vengeful computer tech didn't plant the child porn? Targets of blackmail or patsies are wide open to be abused with this ruling.
This is setting a very dangerous precedent. A computer savvy person, who allegedly finds incriminating or illegal data by doing a suspect search on someone's computer, might have an ulterior motive or could be working for the government. Setting someone up with planted data seems like it would be child's play for a computer savvy person.
I've been the target of a blackmail scheme to get me to resign my position. Secret company data was placed on my company computer without my knowledge and I was told to resign or face jail time. Lucky for me, the person had tried a similar tactic in the past, but was ratted out this time by a cohort. He was fired, but things at work are not same.
Bottom line: Just don't piss anyone off that can frame or blackmail you, because chances are they will.
The laws they are passing now will be used in the future to restrict and/or arrest people for things that are not related, just as outdated and unrelated laws are now being used to gain entry into otherwise protected fields.
The Obama admin should see that the implantation of technology to benefit the public must outweigh the monopolistic corporation's stranglehold on how artistic expression is consumed. The ability to innovate is what has always powered the US, and the world has joined in to amplify the demand for individual deliverance of content. The appetite will increase over time and no single entity will be able to control or stifle the inevitable. Those that tempt fate will eventually become irrelevant and open feeding grounds to those who embrace the future.
On the post: Same Economy, Different Bubble
Re: Re: Also a political failure
True, Fannie and Freddie were put under pressure. But let us not forget passage of the 1999 Republican Financial Services Modernization Act that repealed Glass-Steagall, supported by Joe Biden, Robert Rubin and Larry Summers, signed by President Clinton. It passed the Senate with 90 votes.
Then the 2001 Commodity Futures Modernization Act sponsored by Republications and signed by Clinton. This gave birth to the securitization of bundled loans making it effortless to pass risky loans to suckers and insure that risk with the infamous credit default swap.
Lastly, the lax regulation from the Securities and Exchange Commission in 2004 that allowed investment banks to increase leverage from 12-1 to 40-1. This meltdown seems to be a truly epic governmental failure and the only true bipartisan thing our government has done is sometime.
On the post: Same Economy, Different Bubble
Deja Vu all over again
A list of some problems not being addressed: http://www.marketwatch.com/story/well-great-depression-2-2011
No one seems to heed the age old saying: Caveat emptor. Why didn't those in charge of the people’s money do any homework on the investments that turned out to be shams, because they're morons and should be put in jail.
On the post: Lobbyists As The New Celebrities? Cheering On Those Who Abuse The System
70-1
On the post: As Newspaper Execs Discuss Putting Up Online Paywalls, London Evening Standard Paper Edition Goes Free
Free Business Model
On the post: Burning Man's Copyright Grab
Re: Re: Hypocriminal
http://www.youtube.com/watch?v=MYEBdlRLJhI
On the post: Reminder From The Innovator's Dilemma: Markets Change Whether You Like It Or Not
Kodak Moment
On the post: Burning Man's Copyright Grab
Hypocriminal
On the post: Man Claims Copyright On Mental Math Trick
Re: Re: Mind tricks
On the post: Man Claims Copyright On Mental Math Trick
Re: Re: Mind tricks
On the post: Man Claims Copyright On Mental Math Trick
Mind tricks
On the post: Beat Reporting, Fair Use, Twitter And Free Expression: Mashing Up Some Thoughts
Art in the eye of the beholder...
On the post: Professional Unions And The Labor Struggles Of The 21st Century
Taming a Tiger?
It is very sad that expressing your opinion is punishable if you belong to a professional organization like the PGA. The Constitution’s Bill of Rights are being destroyed day by day.
On the post: Iraq The Latest To Push For Internet Censorship
Iran to Iraq
http://www.vancouversun.com/news/Moderates+boycott+presidential+ceremony/1856751/story.h tml
On the post: Doubleplusungood: That Copy Of 1984 On Your Kindle Is Now Gone
Enslavement
“By 2050—earlier, probably—all real knowledge of Oldspeak will have disappeared. The whole literature of the past will have been destroyed. Chaucer, Shakespeare, Milton, Byron—they'll exist only in Newspeak versions, not merely changed into something different, but actually contradictory of what they used to be.”
-George Orwell, (1949). Nineteen Eighty-Four
On the post: Supreme Court Won't Hear Case Over Computer Tech's Right To Search Your Computer
Re: Let's get something straight
Binary data can easily be manipulated or planted unlike dead bodies. How do you know the tech wasn't the child porn supplier? He could have been installing the encrypted data on the computer so it could be used as a drone by other child porn sickos, but got caught by a coworker and blamed the naive customer. Yea, you're right, that could NEVER happen.
Assuming all computer techs are upstanding citizens, let alone the public at large, is something this ruling has determined as accurate.
On the post: Supreme Court Won't Hear Case Over Computer Tech's Right To Search Your Computer
Re: Re: The Stupidity of people amazes me!
On the post: Supreme Court Won't Hear Case Over Computer Tech's Right To Search Your Computer
Re: Re: Re: i totally agree with the verdict.
This is setting a very dangerous precedent. A computer savvy person, who allegedly finds incriminating or illegal data by doing a suspect search on someone's computer, might have an ulterior motive or could be working for the government. Setting someone up with planted data seems like it would be child's play for a computer savvy person.
I've been the target of a blackmail scheme to get me to resign my position. Secret company data was placed on my company computer without my knowledge and I was told to resign or face jail time. Lucky for me, the person had tried a similar tactic in the past, but was ratted out this time by a cohort. He was fired, but things at work are not same.
Bottom line: Just don't piss anyone off that can frame or blackmail you, because chances are they will.
On the post: New Bubble? Investing In Lawsuits
Idle hands are the devils.
On the post: No Surprise Here: Three Strikes Law Creates Opportunity For Encrypted VPN Services In France
Dangerous Precedence
On the post: Obama Administration Sides With Technology Over Hollywood In Cablevision Case
Not Content with Content
Next >>