March 24, 2005

A Pennyworth of thoughts

In emerging countries, the plan is simple: first, let the people sort out the money. Second, teach them about governance. China is now in the second phase as the grapple with a series of expensive lessons as the new breed of capitalistic bank managers calculates the difference between their salaries and poor governance.

And over in the Germany, the unlikeliest of things: a task market approach to jobs. Seems like some wicked Austrian (economics) person has set up a market for employers to post jobs, and the auction principle takes the price down down down until the lowest bidder wins the job.

Goldmoney continues to grow, but lack of any data on customers remains a huge problem for the sector. Here's a clue - not all is well with users as they suffer inordinate delays in getting access to their money, where inordinate means 2 months! The reason for the delay relates to goldmoney's desire to be a responsible member of the financial community, or at least to get the regulators of their backs. Sadly, it means their customers don't get to feel as though it is their money.

Statistically, there have to be some people who've worked out that the problem with today's identity theft is the 'identity' part. Here's an article by Hiawatha Bray who has figured it out.

In more perceived shift to open security, banks are being exorted to get it off their chests, and reveal their security problems. One part of us knows that could be a long story, another part of us is shocked that they have any problems at all. Nothing gets fixed on security until we bring the divergent viewpoints back to reality.

Posted by iang at March 24, 2005 01:27 AM | TrackBack

even as the gold is not spendable for 2+ months, GM still takes their share in storage fees.

Posted by: Rumplestiltskin at March 24, 2005 10:20 AM
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