Daily Digest 2/24 - 5 Ways To Conquer Investment Worries, Japan Orders Pension Fund Suspension, Not Long To Wait For Hydrogen
- Mass Resignation of the Proxies: Why Are So Many Key Financial Figures Waiving the White Flag?
- Investors: Five Savvy Ways To Conquer The Wall of Worry
- Janet Tavakoli: Financial Sector Executives Commit Fraud, Avoid Prosecution, and Make Certain Future Crises
- Japan Orders Pension Fund to Suspend Operations
- U.S. Postal Service to Cut 35,000 Jobs as Plants Are Shut
- Eric Sprott On Unintended Consequences
- Hydrogen Fuel Cells: Not Long to Wait Now
- The Peak Oil Crisis: Technology Update
Usually two or three resignations from heads of troubled companies, is not much to balk out, but recently, 6-7 heads of very important financial institutions have resigned. High level resignation is normally reserved for a few situations: those who have made a big mistake, expect a big mistake to be made, or formally, don’t want to deal with a mistake that was made long ago and soon must be faced.
Even though both would be the proper way for free markets to bleed out the excesses of the past, they are essentially political nukes and nobody has the willpower to touch either one of them.
The third, austerity, is being tried but only halfheartedly. Our leaders have no idea what this actually means. Since they remain completely unaccountable, there is no true incentive.
On how CFO's and CEO's have used campaign contributions to place themselves above the law: They have bought off Congress through campaign contributions - in order to prevent investigations and prosecutions. We should be seeing multiple thousands of indictments - not just people at the bottom - the people at the top who were in charge of our largest banks during the financial crisis.
Japanese financial authorities ordered a Tokyo-based pensions manager (AIJ) to suspend operations Friday after public investigators discovered that the company may have lost the bulk of about $2.3 billion in funds it managed for its clients.
The service is shutting post offices and seeking congressional approval to end Saturday mail delivery as more people use the Internet to correspond and pay bills. Mail volume fell 6 percent in the quarter ended Dec. 31 and may drop 14 percent by 2016, led by declines in first-class mail, the most profitable, the Washington-based service said this month.
“We have capacity in our processing plants to process about double the letter mail we have in our system now,” Donahoe said.
Eric Sprott On Unintended Consequences (Phil H.)
The first major maneuver took place on November 30, 2011, when the world's G6 central banks (the Federal Reserve, the Bank of England, the Bank of Japan, the European Central Bank [ECB], the Swiss National Bank, and the Bank of Canada) announced "coordinated actions to enhance their capacity to provide liquidity support to the global financial system".1 Long story short, in an effort to avert a total collapse in the European banking system, the US Fed agreed to offer unlimitedUS dollar swap agreements with the other central banks.
Hydrogen Fuel Cells: Not Long to Wait Now (James S.)
The reality is as attractive as zero-carbon-emission vehicles are: if the vehicles are prohibitively expensive in the first place and there is not a robust, widespread refuelling infrastructure in place, the public will not buy. Just witness sales of all electric vehicles — barely 1,000 plug-in vehicles were registered in Britain last year out of a market for some 2 million cars.
This situation may be changing, however, for one of these two companies, a Greece-based organization called Defkalion, say they have arranged for teams of outside investigators to come in later this week and test their device. If this series of tests by outside scientists do take place, we should at least have some sort of independent verification that these "cold fusion" devices are for real, and not a scam as many believe.
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