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Makes me wonder, where is Darl? | 133 comments | Create New Account
Comments belong to whoever posts them. Please notify us of inappropriate comments.
Off Topic Thread
Authored by: Nivag on Friday, April 26 2013 @ 02:23 AM EDT
Where do we put dirty stuff that is off-topic?

I can't put everything dirty into my washing machine!

[ Reply to This | Parent | # ]

  • Off Topic Thread - Authored by: Anonymous on Friday, April 26 2013 @ 03:19 AM EDT
Matt Taibbi - Everything is Rigged: The Biggest Financial Scandal Yet
Authored by: Anonymous on Friday, April 26 2013 @ 07:24 AM EDT
Word has leaked out that the London-based firm ICAP, the world's largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess.

Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world's largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps.

Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. It's about a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget.

It should surprise no one that among the players implicated in this scheme to fix the prices of interest-rate swaps are the same megabanks – including Barclays, UBS, Bank of America, JPMorgan Chase and the Royal Bank of Scotland – that serve on the Libor panel that sets global interest rates. In fact, in recent years many of these banks have already paid multimillion-dollar settlements for anti- competitive manipulation of one form or another (in addition to Libor, some were caught up in an anti-competitive scheme, detailed in Rolling Stone last year, to rig municipal-debt service auctions).

Though the jumble of financial acronyms sounds like gibberish to the layperson, the fact that there may now be price-fixing scandals involving both Libor and ISDAfix suggests a single, giant mushrooming conspiracy of collusion and price-fixing hovering under the ostensibly competitive veneer of Wall Street culture.

Rolling Stone [mobile]

[ Reply to This | Parent | # ]

Samsung up, Apple down.....
Authored by: tiger99 on Friday, April 26 2013 @ 07:46 AM EDT
Samsung

Apple (both BBC)

I like this bit:

Samsung displaced Apple as the world's biggest smartphone maker last year.
Now Samsung, like all large corporations, exist primarily to make money, so don't be disappointed if they do some things that you don't like, but as of now they are nice people as far as the FOSS community is concerned, whereas Apple have even more of the walled garden approach than M$ ever did. People are sick of closed, proprietary stuff, and/or companies that behave like bullies.

[ Reply to This | Parent | # ]

Makes me wonder, where is Darl?
Authored by: Anonymous on Friday, April 26 2013 @ 11:54 AM EDT
Makes me wonder where the former CEO that started this is
now?

[ Reply to This | Parent | # ]

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