Good morning

The headlines:

  1. Let’s have a look at the suggested LIBOR supervision plan.

    Link: nought like more regulation.

    Wrote about it here.

  2. 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.

  3. 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.

  4. 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.