10 May 2012

JPM Crashing After It Convenes Emergency Call To Advise Of "Significant Mark-To-Market" Losses In Bruno Iksil Group - Update

UPDATE: Bruno Iksil Is Dunzo 

Tyler Durden's picture

The last time a French trader delivered a bomb this big (Jerome Kerviel), the Fed cut the discount rate by 75 bps. As for this particular Frenchman, his best epitaph is his Bloomberg profile page. Recall:
"Chuck is french ; champion of 'kick it', walking over water and humble.. yes"
You can now add "fired." Oh, and it is all Egan Jones' fault of course, who downgraded JPM on April 13, while all the other rating agencies were posturing for the highest possible bribe to keep their mouths shut.

Ubuntu's Mark Shuttleworth Predicts That Countries Who Limit Patents Will Have More Innovation

from the but-of-course dept

The BBC has an interesting article about Mark Shuttleworth and Ubuntu, and some of the innovations Canonical is working on. There's some good stuff in there, but what caught my attention was the bit at the end about patents:
"We know that we are sort of dancing naked through a minefield and there are much bigger institutions driving tanks through," Mr Shuttleworth says.

"It's basically impossible to ship any kind of working software without potentially trampling on some patent somewhere in the world, and it's completely impossible to do anything to prevent that.

"The patents system is being used to slow down a lot of healthy competition and that's a real problem. I think that the countries that have essentially figured that out and put hard limits on what you can patent will in fact do better."

Does The West Have A Future? - Paul Craig Roberts "Israel is a Fascist State"

Living in America is becoming very difficult for anyone with a moral conscience, a sense of justice, or a lick of intelligence. Consider:
We have had a second fake underwear bomb plot, a much more fantastic one than the first hoax. The second underwear bomber was a CIA operative or informant allegedly recruited by al-Qaeda, an organization that US authorities have recently claimed to be defeated, in disarray, and no longer significant.
This defeated and insignificant organization, which lacks any science and technology labs, has invented an “invisible bomb” that is not detected by the porno-scanners. A “senior law enforcement source” told the New York Times that “the scary part” is that “if they buil[t] one, they probably built more.”
Secretary of State Hillary Clinton declared that “the plot itself indicates that the terrorists keep trying to devise more and more perverse and terrible ways to kill innocent people.” Hillary said this while headlines proclaimed that the US continues to murder women and children with high-tech drones in Afghanistan, Pakistan, Yemen, and Africa. The foiled fake plot, Hillary alleged, serves as “a reminder as to why we have to remain vigilant at home and abroad in protecting our nation and in protecting friendly nations and peoples like India and others.”
FBI Director Robert Mueller told Congress that the fake plot proves the need for warrantless surveillance in order to detect–what, fake plots? In Congress Republican Pete King and Democrat Charles Ruppersberger denounced media for revealing that the plot was a CIA operation, claiming that the truth threatened the war effort and soldiers’ lives.

Hypocritical Snoopers Charter: 'UK violates rights to freedom of speech' + Mass surveillance in the UK - A Simple Question

Britain has unveiled a controversial proposal - the "Snooper's Charter" -- that gives spy agencies new powers to monitor emails, phone calls and track internet usage. An interview with Chris Bambery, political analyst.

Full Letter From Greek "Anti-Bailout" Coalition Leader Tsipras To "The European Leadership"

Tyler Durden's picture

Below is the letter that the man who will most likely be Greece's next premier sent out earlier today to "the European leadership" including Jean-Claude "I only lie when it is reeeeeealy important" Juncker, and Gollum Van Vompuy. According to local, pro-bailout Greek media, the tone is far more conciliatory than his remarks from the past few days. Well, it must be google-translated Greek to us, because we sure don't see much if any conciliation in the letter.
Full goog-translated copy below (original here):
Letter from the President of the Group SYRIZA MCM , A word Tsipras
the European Commission President Jose Manuel Barroso
the President of the European Council Van Rompuy
the President of the European Parliament Martin Schulz

President of European Central Bank Mario Drago
President of the Eurogroup Jean-Claude Juncker

Athens, Thursday 10 May 2012
Dear Mr. President,
I am sending you this letter after delivery of the exploratory mandate the Greek President gave to me, to ascertain the possibility of forming a Government enjoying the confidence of Parliament, under our Constitution.

'Greece better off in default & outside Eurozone' - Kenneth Joseph Arrow

Winner of the Nobel prize for economics, Kenneth Joseph Arrow, about how he thinks the Eurozone debt crisis should be tackled. Source

Jamie Tapeworm Dimon - I Steal, Therefore I Am - Max Keiser with Chris Whalen

Jamie Dimon's give and take, take, take and the fact that nine out of ten tapeworms bear an uncanny resemblance to the JP Morgan CEO. In the second half of the show Max talks to Chris Whalen, senior managing partner of Tangent Capital, about fascism, too big to fail and Jamie Dimon's problem. Source

Damascus Bombing 40 killed 170 injured - Mr Aleppo

Mr Aleppo gives an analysys of the unfolding events in Syria. Also some initial statistics. Source

The History of Government Sponsored Terror

CIA Whistle Blower, Robert D Steele, Reveals The Truth About Government

This is an extremely powerful 10 minute clip that I suggest everyone take the time to watch.  What I find so remarkable about it is the fact that this speech was given over two years ago and I am just seeing it today for the first time.  It demonstrates that there are many, many brave people speaking out, but the mainstream media just has a total blackout on these sorts of folks in what must be at this point a deliberate strategy to keep most Americans stupid, ignorant debt slaves.

Victoria Grant - Why Canada, and most of the world, is in debt

12-year old Victoria Grant explains why her homeland, Canada, and most of the world, is in debt. April 27, 2012 at the Public Banking in America Conference, Philadelphia, PA. Source

Nigel Farage on the "EU Titanic" and the "Rebirth of National Socialism in Europe"

It's Europe Day! And what a day it is, at a time when the political parties seeing gains in multiple countries are those who want less Europe, not more. In fact, some of them, like Golden Dawn want a rejection of all of Europe. We speak with Euroskeptic member of European parliament and leader of the United Kingdom Independence Party, Nigel Farage about his recent speech in Brussels, his non-wine tasting event and his prospects for the European Union's future.