Jim posts his proposal for fixing email crypto.
Rumours abound about trouble in Wall Street based on derivatives. Citibank is drowning in unmatched derivative positions, and their plan is to net it all and write off the rest. No, they ain't saying how much that means, but apparently their market cap and their bond ratings are of much interest. As are General Motors' numbers. Meanwhile the AIG scandal broadens and it looks like Berkshire-Hathaway, famed vehicle of Warren Buffet, is likely to be dragged in for more than questions.
Can we say one word, please? Settlement.
Elliot Spitzer's office in New York is again in action, and we now have to just accept that the AG's office of New York is one of the top tier regulators in the US, alongside the Fed, the SEC and the others. Elliot Spitzer is somewhat hated on the (Wall) Street, but he has a habit of picking real targets, unlike his predecessor (who was truly despised). Spitzer is loved by the man in the (main) street, so it's likely there are shoes in his size waiting in either the Governor's office or the Mayor's office.
Stefan points out that the Department of Homeland Security and Liberty Alliance are both engaged in the same form of doublespeak, using the names of one thing they are not doing to describe exactly the opposite. I've always wondered why Liberty Alliance came across as the worst form of snake oil and now I know - because it is. Their psuedonyms are centrally created and controlled!
I've always been suspicious of the Liberty Alliance, as their name stinks. It sits in the same bucket of snake oil as "Patriot Act" and indicates that they are intentionally trying to dupe people. How dumb do they think we are?
And in more scandal news, Bob reports that Dateline is to air the Stockgate scandal on the 10th April.
A good article on the impending VoIP telemarketing boom. The normally relaxed Cubicle says this ain't gonna happen, but I've already seen it in action. It'll happen, but maybe not as the reported in that article.
And in Moscow, the central bank got embarrassed when copies of its transaction database were advertised in the press. Even worse, the price started at $2000 and dropped down to $800 for about a year and a half's worth! Talk about a poke in the eye with a burnt stick.
Biggest transaction: 2.96 billion rubles for some bonds. Should have used SOX!Posted by iang at April 5, 2005 12:46 AM | TrackBack