Archive for the 'Economy' Category
MF Global: Hundreds of Millions of Dollars Missing from Customer Accounts
November 1st, 2011Via: New York Times: Federal regulators have discovered that hundreds of millions of dollars in customer money has gone missing from MF Global in recent days, prompting an investigation into the company’s operations as it filed for bankruptcy on Monday, according to several people briefed on the matter. The revelation of the missing money scuttled […]
Public Outrage Prompts Banks to Blink on Debit Card Fees
November 1st, 2011haha. Via: Daily Ticker: As one Occupy Wall Street protester so eloquently wrote on a sign recently: “I bailed out the banks and all I got was a $5 debit card fee.” Well, thanks to protests of millions of other Americans, that $5 fee for debit card purchases may never see the light of day. […]
MF Global’s Collapse Ripples Through Futures Exchanges
November 1st, 2011Via: Reuters: The fallout from the collapse of MF Global Holdings Ltd rippled through global exchanges on Tuesday, as operators moved to suspend the U.S. futures broker or limit trades of its customers. MF Global filed for bankruptcy protection on Monday following bad bets on euro zone debt. London clearing house LCH.Clearnet declared it a […]
MF Global Going Down
October 31st, 2011Via: Bloomberg: MF Global Holdings Ltd., the futures broker run by Jon Corzine, was suspended from conducting new business with the New York Federal Reserve today after posting a record loss. The firm’s board met through the weekend in New York to consider options, according to a person with direct knowledge of the situation. It […]
Which U.S. Organization Bought Andrea Rossi’s E-Cat System?
October 30th, 2011I’ve been watching Andrea Rossi’s E-Cat saga for over a year, and it just took a turn for the weird. Cryptogon is read by all of the alphabet agencies, military branches, some members of the Congress (or their staffs), and the White House. Someone reading this post could know the answer to this simple question: […]
Qantas Airways Grounds Entire Global Fleet Due To Strikes
October 30th, 2011Via: AP: Australia’s government ordered an emergency arbitration hearing on Sunday after Qantas Airways grounded its global fleet amid a bitter dispute with striking workers, stranding passengers around the world. Government leaders, who expressed frustration over the airline’s actions, were expected to argue at the hearing that Qantas should be forced to fly in Australia’s […]
Snake Oil Economic Models
October 29th, 2011Remember, this isn’t physics. —Gold Eyes Biggest 3-Day Fall In 28 Years This is hilarious. It reminds me of my experiences in trying to develop black box trading systems. It’s relatively easy, for example, to program an autotrading system for EURUSD that does extremely well on some finite chuck of historical data. Initially, I thought […]
Iraq War Will Cost More than World War II
October 28th, 2011See this post for what winding down the war means: There will also be 4,000 to 5,000 private State Department security contractors, as well as a significant C.I.A. presence. In Afghanistan, about 95,000 American troops remain. Via: Christian Science Monitor: Iraq war, now winding down with US troop exit by December, has cost more than […]
EU: 50% Writedown on Greek Bonds
October 27th, 2011Update: Why The Latest Eurozone Bail-Out Is Destined To Fail Within Weeks —End Update— Hooray! Can kicked down the road another five feet. Via: Washington Post: European leaders moved early Thursday to stem the debt crisis gripping the continent by agreeing to a plan that imposes steep losses on investors holding troubled Greek bonds and […]
Oakland: Former U.S. Marine and Protestor in Critical Condition After Being Shot in the Head by ‘Police Projectile’
October 27th, 2011Via: AFP: An Iraq war veteran was critically injured after riot police fired tear gas to disperse hundreds of anti-Wall Street protesters near San Francisco, supporters said Wednesday. Officers also fired bean bags but denied using rubber bullets to quell protest on Tuesday in Oakland, California, where unrest erupted after a protest camp was broken […]
