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Argentina’s Default
A month ago, I talked about Argentina’s imminent default. It happened on Wednesday. Which is a bit amazing – even the Huffington Post is going on about “Meet the rich Republican that just forced a State into default” and so forth. Crazy. Here’s the original article: “Cry for yourselves – you vultures!” says Argentina. Here is […]
read moreBillions and Billions of Bad Punishments
Here are two stories from last week that I think are outrageous: Citigroup paid a settlement of $7 billion for selling high-risk mortgages as no-risk mortgages. A jury in Florida awarded Cynthia Robinson (and son) $16 million in punitive damages, and $24 billion in compensatory damages, for the death of her chain-smoker husband in 1996. The […]
read moreThe Curious Penny Stock Named Cynk. And a scheme!
Attention everyone, meet Introbiz.com: Introbiz.com is a social media website, started by this man: Kenny Blaque AKA Kenneth Carter is an events promoter from Vegas. His business idea: That is: If you’re connected, monetise your connections by selling a slot of your time! And If you want to get connected, pay someone famous to meet […]
read moreUsing the Dollar as a Weapon of Mass Destruction
So two big-ticket news items from last week: French bank BNP Paribas received a $9 billion fine, and had to fire some people, and stuff. Argentina made some bond repayments to its New York bank, and the bank was ordered to return the funds to Argentina. I’ve already written about Argentina’s bond story. The update […]
read more“Cry For Yourselves – You Vultures,” says Argentina
Two fun things happened last week: Amazon announced a smartphone; and Argentina got trounced by the Supreme Court on a ruling about their sovereign bonds. Now you might be reading those two points, and saying to me “Yeah, but there’s only one news item there that comes in 3D. Who the fox cares about sovereign bond […]
read moreCarbon Emission Rules That Are Already A Success Before Anyone Has Started
So here’s the piece of news that I found (mildly) entertaining: Draft Legislation proposed to cut carbon emissions by 30% by 2030 The Environmental Protection Agency has released the Clean Power Plan proposal, which has the following main objective: “Cut carbon emissions from the power sector by 30 percent nationwide below 2005 levels, which is […]
read moreBig Data and Driverless Cars
What happened last week: 1. This Report on Big Data The Federal Trade Commission in the US released a report last week on Data Brokers – those companies that collect personal information on Americans (mostly), compile it, and then on-sell it to marketing companies and/or companies looking to do background checks. The FTC had performed […]
read moreGeneral Motors: generally recalling anything
Last week’s entertainment: General Motors. Oh General Motors. On Tuesday, General Motors announced the recall of (yet) another 2.6 million vehicles globally. Some figures: That’s the 29th time that GM has recalled vehicles this year. The total number of cars recalled by GM in 2014 is now sitting at about 15.6 million. In 2013, GM […]
read moreThe Right To Be Forgotten: Forget It, Just Do A Restructuring
Stuff that happened last week: 1. Google got told to forget some europeans. So the big news that is rocking the blogosphere (truly – everyone is talking about it), is the recent ruling by the European Court of Justice. The background: Mario Consteja Gonzalez ran into debt in 1998. His home was attached and […]
read moreFoiled mergers, Thai politics and Rice
News from last week: 1. A bad week for mergers… Maybe I’m just noticing it now – but it feels like there has been a sudden upsurge in the size and scale of the big international mergers since the Fed started to slow its tapering. It’s almost as though these big companies collectively thought: “Recovery […]
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