Good morning
The headlines:
- Let’s have a look at the suggested LIBOR supervision plan.
Link: nought like more regulation.
Wrote about it here.
- Mr Nakoula is being held.
Link: good.
Mr “Innocence of Muslims” and/or Sam Bacile has violated his parole by having unauthorised access to the internet.
The champion for bigoted (non)christi(prof)anity has a history of bank frauds and a drug conviction. I just wonder whether the Mid-West supporters of the Nakoula know what he’s done historically, and whether they wonder, in turn, if he’s really the best advocate for a 2000 year old religion.
- That banker from yesterday is holding out for a deal.
Link: he looks a bit like an ork.
Meet Mr Kareem Serageldin:
Apparently, his arrest yesterday was the result of a miscommunication. He has “no intention of fleeing” until he’s reached a plea bargain agreement with the US authorities (I assume that he’ll only flee once he knows his plea bargain outcome?).
To summarise the charges: the bonuses of Mr Serageldin and his associates were linked to their trading books profitability; they therefore (allegedly) boosted their trading book by half a billion dollars worth of fake CDOs. And by “fake” CDOs, what we mean is that they took loss positions and pretended that there were no losses.
- Frothing anticipation for the new French budget.
Link: long live the socialists.
Mr Hollande is expected to announce his new budget today.
Everyone is expected some tax hikes.
That’s all for now.
Have a good day.
