Regulating for the Sake of Regulating

High-frequency-trading
Google Images

High frequency traders catch a bad rap. Why? I certainly don’t know, and neither does Washington really. All the SEC knows, as well as other Washington regulators, is that these firms are profiting from something they cannot comprehend and therefore it must be illegal. Go ahead and read any newspaper article on the topic of high frequency trading, and you’ll see a slew of quotes from regulating officials that say something along the lines of “this practice *might* be causing instability in the markets” or “*may* be gaming the system.” How about some hard facts before you go a ruin a fair profit for these individuals!

NYTimes

So Proud

News of the World
Simon Dawson/Bloomberg News

It makes me so proud to be an American, to know that we are not the only modern country in the world that has something so unbelievable to be ashamed of. Just when you think that this story cannot possibly get crazier – it does! Rather than simply summarizing this for you in a couple of sentences, I suggest you hit the link below and read the story.

NYTimes

South California – the 51st State

Split State
LA Times

I for one totally welcome the idea of splitting the West Coast monstrosity into two separate states. However, they need to throw LA County into the southern state. This would certainly give the people in North California a lot less to be ashamed of with Los Angeles out of the picture. My only problem is that 50 states has such a nice ring to it, so I propose a clause that says if this is to go through, then we give Texas back to Mexico.

LA Times

The Rocket Mistrial

Clemens
Doug Mills/The New York Times

Not only did our government waste precious taxpayer dollars and time looking into performance enhancing drugs in Major League Baseball problem, they can’t even land a conviction. I love baseball, it’s by far my favorite major league sport in the United States. However, the fact the Congress wasted so much money and time investigating it makes me sick. The amount of issues our elected officials could be focusing on and the issues they actually do vary so greatly, it’s truly amazing that anything worthwhile comes out of our democratic republic.

NYTimes

More Stimulus!

Ben Bernanke
Ben Bernanke (or Paul Giamatti..)

Federal Reserve Chairman Ben Bernanke announced today that more money into the economy is still an option at this time, to improve economic conditions in the United States. Good luck convincing Speaker of the House John A. Boehner, who actually believes unemployment is at 9.1% BECAUSE of the original stimulus (seriously, check his Twitter feed, July 5th). Please show me some research that displays an instance where stimulus money actually increases unemployment. On second thought, why don’t you just go cry about it.

NYTimes

Murdoch Gives Up TV Deal

Rupert Murdoch
Oli Scarff/Getty Images

In a not so shocking fashion, Rupert Murdoch and his empire walk away from a deal which would have expanded the News Corp brand even further into the tubes of the UK, by picking up the majority share of British Sky Broadcasting (he still has 39% of the shares). Still recovering from the News of the World fallout, Murdoch and his cronies are left with looking for new ways to improve business in the UK – possibly by selling off its UK newspaper business entirely. I wonder how Glenn Beck feels about all this?

NYTimes

WSJ

Is Your Data Safe in Court?

Data Vault
Source: TechCrunch

A Colorado court will soon determine whether requiring defendants to enter passwords for encrypted data is permissible in a court of law, possibly setting the precedent for years to come. Should you care? probably not, but a lot of people will.

TechCruch Article

 

 

Basement Rob:
“I’d like to know the procedure for when I forget said password”

Meet the Chevy Sonic

The 2012 Chevrolet Sonic at the General Motors Orion Assembly Plant in Lake Orion, Mich
Fabrizio Costantini for The New York Times

The Chevy Sonic will be the first subcompact car to be manufactured in the United States. Some say this kind of operation can only be profitable if they are manufactured outside the US where labor is far cheaper. I say, who the hell wants to drive this thing?

NYTimes Article

Basement Rob:
“It looks like they just took spare parts from other vehicles in their line and just pinned them to this tiny frame. I smell a large marketing campaign geared toward the young and hip but an overall short life for this hot garbage.”