<blockquote>"What the mainstream is truly missing here en masse is that another tsunami is building right behind the finance fiasco, and that it will render moot the whole reeking cargo of schemes and wishes that comprises the Great Bail-out. I am speaking of the global oil problem. In fact, the problems in banking and money currently roaring in the center ring of the world circus, canby ProjectC - Project C
By Murad Ahmed, Technology Reporter September 29, 2008 Source A network of 100,000 computers providing the greatest data processing capacity yet unleashed has been created to cope with information pouring from the world’s largest machine. The Grid is the latest evolution of the internet and the world wide web and computer scientists will announce on Friday that it is ready to be connectedby ProjectC - Project C
By Doug Noland September 25, 2008 Source For our country’s sake, I hope our Washington politicians can work out a mindful financial sector bailout package over the weekend. Not that I am pro-bailout or for government intervention. It’s just that our financial system is teetering at the precipice. Last night’s federal takeover and “sale” of Washington Mutual, our nation’s largest bank failby ProjectC - Project C
<blockquote>"Many diplomats are convinced that the road ahead will be even worse than it is now, as we may be witnessing only the beginning stages of a major economic crisis that calls for the declaration of a global state of emergency by the UN, per the advice of Panama and other states. This may not be such a bad idea, seeing how in the host country, the United States, the Repubby ProjectC - Project C
<blockquote>'This move has the full-hearted support of Pamela Jones, the editor of intellectual property law news site Groklaw. Jones says, "When such obvious problems are revealed as we saw in the OOXML saga, it would be a crying shame if no one did anything about it. ISO/IEC made it clear that improvement is not to be expected from within. I commend IBM for its stand. It restoreby ProjectC - Project C
By Bill Clinton Special to CNN Source NEW YORK (CNN) -- If we want to build a stronger, more sustainable world for future generations, one with more partners and fewer enemies, we have to work together. The challenges of our day transcend politics, religion, geography and gender -- and in turn, so must we. This has been a month of historical calamities, natural and man-made, from Haiti tby ProjectC - Project C
<blockquote>"I am not surprised that our policymakers nationalized Fannie and Freddie. It was predictable that the Treasury and Fed were forced into wholesale bailouts and unprecedented liquidity operations. That Washington had to step up and guarantee money fund deposits is not all too surprising. Ditto with the upwards of $1 Trillion of Congressional authorizations, with policymakby ProjectC - Project C
By Nouriel Roubini September 21 2008 Source Last week saw the demise of the shadow banking system that has been created over the past 20 years. Because of a greater regulation of banks, most financial intermediation in the past two decades has grown within this shadow system whose members are broker-dealers, hedge funds, private equity groups, structured investment vehicles and conduits, monby ProjectC - Project C
<blockquote>"...On last Wednesday, investors were so gripped with fear and desperate for a haven that they poured into the bills even though the yield was nonexistent. In effect, they were willing to pay the government for keeping their money safe. As a glance at the chart shows, that hasn't happened since the Depression. ... ...if regulators hadn't been asleep, banksby ProjectC - Project C
<blockquote>"This is the derivative nightmare that everyone has been warning about. They booked all these derivatives assuming bad things would never happen. It was like writing fire insurance, assuming no one is ever going to have a fire, only now they’re turning around and watching as the whole town burns down.” -- Peter Schiff, the president of Euro Pacific Capital </blockquote&by ProjectC - Project C
<blockquote>"It is a sad commentary that the authorities are most worried about a market that they were unwilling to do anything about when it was growing and growing. That market is credit-default swaps. The people who developed that market hired good lobbyists, who got the law written to keep regulators away. Alan Greenspan, then the chairman of the Federal Reserve, thought it wouldby ProjectC - Project C
<blockquote>"Derivatives generate reported earnings that are often wildly overstated and based on estimates whose inaccuracy may not be exposed for many years." -- Warren Buffett (2003) - (BBC Article - Avoiding a 'Mega-Catastrophe' - Buffett salvo revives fears of derivatives doom)</blockquote> *** Derivatives `Madmen' Poison Capitalism <blockquotby ProjectC - Project C
<blockquote>"It is one of the finest examples of beneficial social cooperation in our society." -- Daniel Coleman</blockquote> The Market Loves Linux (That's Why It's Thriving) By Daniel Coleman September 11, 2008 Source ( Against Intellectual Property - Patents - James Watt - Mandriva ) My wife often rolls her eyes at me, because once I find a new hoby ProjectC - Project C
<blockquote>"Just months ago, Lehman assured investors that it had enough liquidity to weather the crisis, while Merrill raised some $15 billion over the last year to shore up its balance sheet. Now they’re both as good as gone. Last week, it was Fannie Mae and Freddie Mac that needed a government bailout. This week, it looks as though American International Group and Washington Mby ProjectC - Project C
<blockquote>"In the long run, though, financial regulators must now know what must happen: it's time for them to bring down the curtain on the era of opaque financial derivatives."</blockquote> Wall Street crisis: Is this the death knell for derivatives? On page 62 of last year's accounts, under the heading "off balance sheet arrangements" Lehmanby ProjectC - Project C
<blockquote>"Stroking could be used to treat chronic pain, he suggests."</blockquote> Stroking reveals pleasure nerve By Jenny Carpenter Science reporter, BBC News Source ( Haptonomy ) A new touch-sensitive nerve fibre responsible for the sense of pleasure experienced during stroking has been described at a UK conference today. The nerves tap into a humanby ProjectC - Project C
<blockquote>"The last thing the crippled leveraged speculating community needs right now is dislocation in the CDS marketplace. Again, the attention this week was on Lehman, while I believe a much more unwieldy facet of today’s crisis mounts with the bursting of the historic hedge fund Bubble. Perhaps Sunday we’ll read news of BofA acquiring Lehman – and perhaps the markets will rallby ProjectC - Project C
<blockquote>"It is time to take stock of the crisis and recognise that the financial industry is undergoing fundamental shifts, and is not simply the victim of speculative panic against housing loans. Certainly better regulation is part of the answer over the longer run, but it is no panacea. Today's financial firm equity and bond holders must bear the main cost, or there is littlby ProjectC - Project C
<blockquote>"The resignation of Japanese prime minister Yasuo Fukuda on the grounds that his “fiscal stimulus” of $18 billion was inadequate throws into sharp relief a troubling reality: That most economically counterproductive of activities, the Keynesian boost in government spending, is making a horrid comeback. Like some eldritch creature from a 1950s Saturday morning horror serialby ProjectC - Project C
<blockquote>"In the wake of Long-Term Capital’s failure, Wall Street professed to have learned that even models designed by “geniuses” were subject to error and to the uncertainties that inevitably afflict human forecasts. It also professed a newfound respect for the perils of borrowing. Whether this wisdom endured may be judged by events of the past year, when not only Bear Stearns buby ProjectC - Project C
<blockquote>"In 2003, I wrote a column in the Financial Analysts Journal entitled Legal and Moral Ethics, in which I noted that the more people focus on what’s legal, and the less they focus on what’s right, the further we slide down the slippery slope of fast-eroding ethical standards. Fixing the problem of business ethics is easy, because most unethical firms are eventually unprby ProjectC - Project C
<blockquote>"The geopolitical structure of the global order created by Stalin and his American adversaries in the aftermath of World War II is collapsing, not just on the Russian side but also on the American side. This implies that the future - at least the immediate future - is not so much for Pax Russika or Pax America, but most likely a push for increasing global anarchy."<by ProjectC - Project C
<blockquote>"For Sharp, hard-headed realism is more important than ethical and religious zeal in the struggle for peace. He sees non-violent action as a strategy for imperfect people in an imperfect world – a tool to achieve civil defence, justice or liberation. ‘While few individuals are able to “turn the other cheek” in a spirit of love and forgiveness, many are able to understand thby ProjectC - Project C
LEGENDEN Der falsche Friedensfürst Von Matthias Schulz 07.07.2008 Source Bei den Vereinten Nationen in New York liegt - feierlich unter Glas - eine 2500 Jahre alte Keilschrift, verehrt als "antike Deklaration der Menschenrechte". Nun zeigt sich: Der Text stammt von einem antiken Despoten, der seine Gegner foltern ließ. Es sollte eine Gala der Rekorde werden, die Schah Mohaby ProjectC - Project C
<blockquote>"The new academic year should bring with it a revitalised teaching staff, but many teachers began 2008 with a sense of dread. In staffrooms across the country, 2008 was nicknamed the 'meltdown year' because of the number of policy and curriculum changes the government had implemented, including the introduction of the new diplomas, revisions to A-levels and the neby ProjectC - Project C
By VIJAY JOSHI Associated Press Sept. 2, 2008, 2:07AM Source SHAH ALAM, Malaysia — A Dutch-based company announced plans today to produce affordable electric cars by the end of 2009, promising they will be much more powerful than existing models and have zero emissions. Detroit Electric is in negotiations with Malaysia's national auto maker, Proton, to produce the car in this Southeaby ProjectC - Project C
<blockquote>"In any event, American chickens truly are coming home to roost. That is because we let a unique opportunity with Russia languish in the 1990s. Other than sending hundreds of self-appointed advisers to Russia, along with the chickens, both the Bush 41 Administration and the Clinton Administration failed to respond adequately to what was then a fervent desire in Russia to beby ProjectC - Project C
EU Brussels, 1 September 2008 Source 1. The European Council is gravely concerned by the open conflict which has broken out in Georgia, by the resulting violence and by the disproportionate reaction of Russia. This conflict has led to great suffering on both sides. Military action of this kind is not a solution and is not acceptable. The European Council deplores the loss of human life,by ProjectC - Project C
<blockquote>"Steele also ridicules the notion that Saakashvili fell into a trap. The truth of the matter is that the Americans had been warning him since the spring to keep turning the other cheek in the face of persistent provocations – to begin with in Abkhazia, but since July, in South Ossetia as well. And the notion of a trap does not stem solely from the western side. I had many cby ProjectC - Project C
<blockquote>"...So kraftstrotzend sich Russland gibt, so schwach ist das Land wirklich. Die Wirtschaft basiert fast ausschließlich auf dem Export von Gas und Öl. Ein Verfall der Energiepreise kann das Land in den Ruin treiben, wie es in den 1980eer Jahren bereits einmal geschah. Die Bevölkerung Russlands altert und schrumpft. Alkoholismus und Aids haben epidemische Ausmaße angenommen.by ProjectC - Project C