Daily Digest 7/23 - Crony Capitalism in the USA, The Argentina Energy Showdown
Lieborgate: Here Come The Arrests (Thomas C.)
The reason we have bolded the third paragraph is that if one had gone to the BBA's Governance section as recently as a few weeks ago, or prior to Liborgate becoming front page news, the paragraph read something totally different. However, courtesy of the Way Back Machine, we have a great idea of just what the BBA quietly and under the radar tried to change vis-a-vis its own obligations and responsibilities in the Libor scandal. This is what the third paragraph said before.
Cities and towns won’t need to ask for an act of a bank-subsidized congress to do this, and they won’t need a federal judge to sign off on any settlement. They can just do it. In the Death Star of America’s financial oligarchy, the ability of local governments to use eminent domain to seize toxic debt might be the one structural flaw big enough for the rebel alliance to exploit.
To summarize that for you, the Power Pwn can launch remotely-activated Wi-Fi, Bluetooth, and Ethernet attacks to identify network weaknesses. You can send commands via a convenient Web interface, accessible through the unit's built-in 3G radio, or directly to the device via text message. In fact, if you're feeling really lazy, you can use Apple's Siri voice-recognition software to send it instructions.
Crony Capitalism in the USA (Jaime)
Click on the infographic to experience US crony capitalism in full-size glory...
Ms. Ordonez, a single mother who lives in the Bronx and came to the States from Ecuador in 1981, was already working full days as a home health aide in East Harlem when she accepted the 5 p.m. to 1 a.m. cleaning shift at Con Edison, embarking on a schedule and route — multiple subways and two-hour trips in the middle of the night — that allowed her no more than three hours of sleep.
Still reeling from the economic downturn, many community leaders in the Inland Empire say they are desperate for jobs, particularly for low-skilled workers, many of whom lost their jobs in construction after the housing collapse. They see the region’s warehouses and related delivery industries — which now employ an estimated 200,000 people, more than Salt Lake City’s population — as the best way out of the doldrums, seeing salvation in the form of shipping containers.
The Eskenazi family really took a hit from this action. When brought on board by the Kirchners, they took out loans to buy their stakeholder position in YPF. The payback on those loans was based partially on dividend payments. So the Kirchner nationalization and subsequent decision on dividends has left them in default. Carlos Slim, who got 8% of YPF when Eskenazi defaulted, was simply making a personal investment, not a political statement. When you're the world's richest man, it's not particularly risky to make low-value purchases and hold them long term to see if they pan out.
Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."