Daily Digest 1/23 - New Global Recession Is Here, Adviser Guilty Of PA Swaps Fraud, Veterans' Struggle
- Shilling Says New Global Recession is Here
- WATCH: Irish Journalist Leaves ECB Official Speechless
- Adviser Guilty Of Fraud Linked To Pennsylvania Swaps
- Greek Talks Hit A Snag Over Rates
- Congressman Has Police Confiscate All Cell Phone Cameras
- Veterans' Struggle
- Solar Yacht Sails Around the World Powered by Nothing More than the Sun
- Environmental Politics: Keystone XL Rejected Until After the Election
Shilling Says New Global Recession is Here (kelvinator)
Unlike many gloom and doomsters, Shilling is a genial sort who likes cracking jokes and keeps bees as a hobby. But when it comes to economics he’s dead serious: He’s been consistently gloomier than the economic fraternity and consistently right over the past few years. Now, he parts ways with his peers again by declaring that a new global recession already has begun in Europe and that it will touch our shores soon.
Browne hits Masuch hard on the question of why the Irish people should be forced to protect unguaranteed bondholders.
Rubin served on Rendell's gubernatorial transition team. His firm advised Philadelphia on interest-rates swaps, complex financial contracts designed, for example, to let borrowers raise money at slightly lower interest rates and protect them from the risk of rising rates, in exchange for agreeing to pay banks and in- vestors compensation if rates fell.
Greek Talks Hit A Snag Over Rates (jdargis)
Talks broke off over the weekend when Charles H. Dallara, the managing director of the Institute of International Finance, a bankers group that is representing private sector bondholders, left Athens. In a statement, a spokesman for the group said that Mr. Dallara had a previously planned personal engagement in Paris and that progress was being made toward securing an agreement.
Our elected officials have decided that the Constitution does not apply to them. They are sick and tired of seeing videos of what they have said posted on YouTube, and they aren’t going to take it any more.
Veterans' Struggle (jdargis)
Unlike the Wall Street bankers who have been feeling the heat from the 99 per cent – but also unlike the Vietnam veterans who were called “baby-killers” – this 1 per cent come home to complete indifference.
The project was conceived by Raphaël Domjan of Switzerland as a method of demonstrating the possibilities that current solar technology holds for clean transportation. The yacht carries a huge rack of Lithium-Ion batteries capable of storing up to three days’ worth of sailing power, easily enough to allow transit to continue throughout the night, or during overcast skies. Never once in thousands of miles has the boat had to turn on its diesel back up, in fact the diesel is only on board is to satisfy the insurance companies.
All sides can score points on the issue while doing what they perceive as no lasting damage. For business this is business as usual, large project developers are accustomed to delays, posturing and political extortion. The business calculus is not whether this is still a good project, it is the trade-off between the sunk cost and the to-go cost answer compared to the alternative uses of both financial and political capital. For the special interest advocates on all sides and the media it is a feeding frenzy of bombast and bluster, green versus brown, 1% who want to remain profitable in their oil business versus the 99% who need their oil products but decry how much it costs.
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