Using basis points removes the ambiguity when talking about fractions of percentages.

Consider: "The interest rate, previously 5%, has been raised by 1%". Does this mean the new interest rate is 6% (5 + 1), or 5.05% (5 * 1.01)?

If you say "The interest rate, previously 5%, has been raised by 100 basis points" then the only possible interpretation is that the new interest rate is 6%.

these days, I pretty much just wear flip flops

RMS, is that you?!

My mythtv box (running mythbuntu) crashed within about a second of midnight as I was trying to watch the fireworks, and stopped responding to ping, ssh, everything.
My excuse for staying in and watching the celebrations on TV is that... my dog ate... my shoes.

Yes, that'll do...

D: