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Comment Re:Prediction (Score 1, Interesting) 403

I think the ideal would be for candidates to run as individuals with no such thing as a political party.

Yeah Right... That's part of how Germany ended up with the National Socialist Democratic Party in charge, we call them Nazi's.

How many fools would we have on the ticket? When Schwarzenegger won Ca, he had like 286 opponents.

We could end up with a President David Duke (Klansman). That's how Nicaragua ended up with Ortega again.

Comment Re:Driving Blind (Score 1) 658

Won't life be grand when the rednecks and bible thumpers are left alone to try to figure out how to survive the winter without government?

If you study the history, the rednecks, the openly religious and the free thinkers came to the US to get away from oppressive European governments, but oppressive governments keep following economic success of these types.

Comment Re:So which is it (Score 1) 541

If a universe begins as a void, thus containing no light, then perhaps at the moment of the creation of a universe, there is no "speed of light", since light does not yet exist. Perhaps an object moving in a universe devoid of light could move at an infinite speed, there being no "speed of light" which cannot be exceeded.

Comment Re:Simple, right? (Score 1) 541

CO2 might not be poisonous to you plant kind, but it's a deadly toxin to us mammals... In fact, its one of our main waste products. And on our planet, it's the third most important green house gas in our atmosphere. The only gasses more important in maintaining our temperature are dihydrogen-monoxide and methane.

Comment The bottom line... (Score 1) 2

Osinski and his software was not the problem.

Too much money chasing too few houses caused the prices of houses to rise too fast (a bubble).
Too lax borrowing regulations enabled too many un-qualified people to obtain mortgages for which they had no ability to meet the commitments (the flood of money that caused the bubble).
Too lax regulations lays at the feet of the US congress trying to enable un-qualified voters to buy houses they could never afford to pay off (political favors cause a crisis).

Want to see the evidence? http://www.clearinghouse.wustl.edu/chDocs/public/FH-IL-0011-9000.pdf Barack Obama vs Citibank. Obama forces Citi Bank to write sub-prime mortgages they don't want to write.

Barney Frank on CSPAN holding hearings where he pretends to be concerned and not aware of the root cause. However Barney Frank was the main driver of lax borrowing regulations, and openly stated he knew he was increasing the risk of a housing failure. http://www.youtube.com/watch?v=sb56b2JC7qQ

Osinski's software allowed the financial industry to roll mortgages into bonds. History showed that a reasonable loss of a home mortgage default was ~20%. A CDS (credit default swap) is basically an insurance policy which could be bought from AIG to cover that 20%, making for a very safe AAA bond.

Basically too many mortgages failed too fast (the housing bubble bursting). Too many CDS policys get called causing insurance giant AIG to fail. The housing bubble has mortgages way over valued. Triple A bonds are failing... banks are failing. The US govt tries to prop up failing banks and AIG. People doing their jobs get the blame, Congressmen Frank takes the cover in plain sight by starting a witch hunt. Victims don't dare point a finger at a strong member of congress who has the power to not only cast personalized tax code upon them, but to also imprison them under contempt of congress charges.

The real authors of the whole scheme sit safely in London avoiding the 90% tax on performance bonuses.

Some people who did a great job in a division that earned money, but belonged to AIG got screwed royally, as their total compensation for the year is their performance bonus. Now taxed at 90%... Add in another 10% or so for state income taxes, 6.8% SSI and 1.4% Medical, and the effective tax rate is ~110%. I guess some think that justice.

I blame the US congress, namely Barney Frank, Chris Dodd, and Barack Obama. The British PM Gordon Brown alluded to this, putting Obama on the spot with a question about whom is to blame for the failure of the banking system. Notice how Obama choked badly? Obama knows the names well, they are Barney Frank, Chris Dodd, and Barack Obama.

The Courts

Submission + - Calif. v. Mass: The battle over non-compete clause (computerworld.com)

Lucas123 writes: "A case filed with superior courts in California and Massachusetts involving a former EMC top executive who is trying work for HP is pitting the two states against each other over whether non-compete agreements can keep an employee from working for the competition. California says non-competes hamper a person's ability to freely traverse the marketplace for work, while Massachusetts says the agreements actually afford freedom to develop technology without the fear of IP theft."
Government

Submission + - How Stimulus Bill funds actually hit the street (seliger.com)

ThousandStars writes: "The tremendous amount of reporting about the Stimulus Bill, including its broadband provisions, have tended to focus on the "what" is going to happen rather than the "how" it will happen. No More Ball of Confusion: The Reality of the Grant Making Process explains the process through which those funds go from the fevered imagination of a Congressperson or President to actually being spent on products or services."
The Almighty Buck

Submission + - The coder behind the mortgage meltdown. 2

axjms writes: New York Magazine has a confessional/abdication from the man who wrote the software that turns mortgage into bonds and those nasty little things called CMOs. An interesting first person account from a coder whose work reached far beyond what he or anyone could have anticipated.
United States

Battle Lines Being Drawn As Obama Plans To Curb Tax Avoidance 1505

theodp writes "Barack Obama has squared up for a major battle with big business, announcing a crackdown on offshore tax avoidance and evasion by US multinationals that's designed to raise $210B and make it easier for companies to create 'good jobs here at home'. Obama cited a building in the Cayman Islands where more than 18,000 US companies are housed: 'Either this is the biggest building in the world or it is the biggest tax scam in the world,' he said. 'I think the American people know which it is.' The administration says that more than a third of US foreign profits in 2003 came from Bermuda, the Netherlands and Ireland, and noted US companies paid an effective tax rate of just 2.3% on the $700bn they earned in foreign profits in 2004. Among tech companies affected by the crackdown, Microsoft joined 200 companies who signed a letter complaining that the proposed tax changes would put them at a disadvantage with their rivals, Cisco moaned that the measures 'would adversely impact our ability to invest and grow our business in the US,' and Google declined to comment for the time being."

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