Wednesday, 18 July 2012


Mervyn King 'Not Interested' In 2008 Libor Rate Warnings, Say Ex-BoE Colleagues

Mervyn King 'Not Interested' In 2008 Libor Rate Warnings, Say Ex-BoE Colleagues

Commented Jul 17, 2012 at 06:02:04 in UK Politics

The lead-in headline suggest that King has some questions to answer.

The main one: Why does anyone rely on a rate that is a truncated average of pure guesses by a number of banks. The LIBOR question is "at what rate COULD you have borrowed funds at 11am" not "at what rate DID you borrow funds."

The second question is: if you were asked to guess at something and leaning in one direction would hurt you while guessing the other direction would help you, what would you do?

The third is: what is the legal basis for assuming that the banks reporting to Thompson-Reuters acting for the British Bankers Association have a duty of care to either?

The fourth: Should every used-car salesman who says "this is the best price you'll see today" face charges of fraud?

The fifth: why does anyone assume that banks are different from used-car salesmen?
John Rocker's New Book, 'Scars And Strikes,' Aims To Fix The Former Pitcher's Public Image

John Rocker's New Book, 'Scars And Strikes,' Aims To Fix The Former Pitcher's Public Image

Commented Jul 16, 2012 at 14:14:36 in Latino Voices

Something seriously strange about people who think that language has anything to do with racism. Are they suggesting that certain races cannot learn certain languages?
London 2012: The Voice, Britain's Biggest Black Newspaper, Denied Access To Olympics Stadium

Britain's Biggest Black Newspaper, Denied Access To Olympics Stadium

Commented Jul 16, 2012 at 14:09:52 in UK

“Is the biggest paper that caters only to whites also excluded?
After the Supreme Court Ruling: The Reckoning for Health Care Costs

After the Supreme Court Ruling: The Reckoning for Health Care Costs

Commented Jul 16, 2012 at 05:33:59 in Politics

“"We cannot have widely-available and generous health insurance." Actually, there are three ways we COULD have both:

1) If we are willing to pay for it. (Okay, we're not, so next...)
2) If we slash the profit potion of the cost. (Unlikely, given the power of campaign contributions)
3) If we pay providers on outcome, not on input. (Unlikely,See 2 above)

The reason our costs are twice as high as other OECD countries, and our system produces worse results than OECD countries, is political, not financial.k
Tim Geithner's Libor Recommendations Came Straight From Banks, Documents Show

Tim Geithner's Libor Recommendations Came Straight From Banks, Documents Show

Commented Jul 16, 2012 at 05:19:58 in Politics

“Oh no! You mean he actually asked some people who knew what they were talking about? How dare he?
Jeremy Hunt: Swearing On The Football Pitch Has 'Gone Too Far'

Jeremy Hunt: Swearing On The Football Pitch Has 'Gone Too Far'

Commented Jul 16, 2012 at 05:08:11 in UK Politics

“Well, it is a bit strange that calling someone "an effing c*nt" is perfectly okay, but calling someone "an effing white c*nt" would be prosecuted as a crime.”

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