Archive for the 'Economy' Category
U.S. Banks Told to Make Plans for Preventing Collapse
August 11th, 2012In other words, during a liquidity crisis, make sure that online banking and ATMs are not accessible due to technical difficulties. Via: Reuters: U.S. regulators directed five of the country’s biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing […]
Trapwire
August 10th, 2012Via: Privatepaste 1, 2: From: Justin Ferguson Date: Thu, Aug 9, 2012 at 6:22 AM Subject: Re: [TSCM-L] {6221} Domain Awareness System To: tscm-l2006@googlegroups.com Cc: michael.maness@abraxasapps.com, dan.botsch@abraxasapps.com, jeff.nielsen@abraxasapps.com I’m not entirely sure how this is new so to speak, they’ve had this capability for years from the ‘trapwire’ system (trapwire.com formerly abraxas applications– a subdivision […]
U.S. Not Seeking Goldman Charges
August 10th, 2012Shocker. Via: Wall Street Journal: After a yearlong investigation, the Justice Department said Thursday that it won’t bring charges against Goldman Sachs Group Inc. or any of its employees for financial fraud related to the mortgage crisis. In a statement, the Justice Department said “the burden of proof” couldn’t be met to prosecute Goldman criminally […]
Demand for Water Outstrips Supply
August 9th, 2012Via: Nature: Almost one-quarter of the world’s population lives in regions where groundwater is being used up faster than it can be replenished, concludes a comprehensive global analysis of groundwater depletion, published this week in Nature1. Across the world, human civilizations depend largely on tapping vast reservoirs of water that have been stored for up […]
Kremlin Wiretaps Dissident Blogger — Who Tweets the Bug
August 9th, 2012Via: Wired: Alexei Navalny showed up to work in Moscow on Monday to discover he was being bugged. He called the police, like many perhaps would, but not before tweeting photos and video of himself and his colleagues taking the Kremlin’s monitoring devices apart. It’s not hard to figure out why Navalny was bugged. He’s […]
Treasury’s Secretive $2.4 Trillion Fund Guarantee
August 9th, 2012Via: CNBC: Details about a secretive government program to bail out money-market mutual funds are finally coming to light. Acting without any explicit Congressional authority, the U.S. Treasury guaranteed in excess of $2.4 trillion of money market funds after the giant Reserve Primary Fund “broke the buck” following the bankruptcy of Lehman Brothers. The program, […]
$9 Corn Could Be a Big Problem for Economy
August 9th, 2012Via: CNBC: Corn prices – which have already surged about 50 percent in the past two months – could go significantly higher if current trends hold up, and the effects might be felt throughout the economy. Price momentum indicates corn could rise at least 21 percent over the next six months, putting $9.50 a bushel […]
NYPD and Microsoft Team Up to Peddle Retroactive Surveillance System
August 9th, 2012Via: Wall Street Journal: Microsoft helped the New York Police Department build a surveillance and intelligence sharing network to fight terrorism and help investigators solve crimes. Now the NYPD will get a hefty cut of the revenue as the partners prepare to jointly market the intelligence system to other police departments around the world. Microsoft […]
Chart of the Day, HFT Edition
August 8th, 2012Via: Reuters: This astonishing GIF comes from Nanex, and shows the amount of high-frequency trading in the stock market from January 2007 to January 2012. (Which means that the Knightmare craziness of last week is not included.) More: Nanex
France: Hollande Wants 75 Percent Tax on Income Over $1.24 Million Per Year
August 8th, 2012Via: New York Times: The call to Vincent Grandil’s Paris law firm began like many others that have rolled in recently. On the line was the well-paid chief executive of one of France’s most profitable companies, and he was feeling nervous. President François Hollande is vowing to impose a 75 percent tax on the portion […]
