“One should as a rule respect public opinion in so far as is necessary to avoid starvation and to keep out of prison, but anything that goes beyond this is voluntary submission to an unnecessary tyranny, and is likely to interfere with happiness in all kinds of ways.”—Bertrand Russell
“Essentially, JPMorgan has been operating a hedge fund with federal insured deposits within a bank.” ~Mark Williams, a professor of finance at Boston University
So – now … news is coming out that JP Morgan Chase’s proprietary trading losses could total $9 BILLION on a series of trades that were supposed to “minimize risk” at the bank. Yeah … got it. We’ve written about the huge trading losses before HERE; if you don’t know the story about JP Morgan’s huge losses … you need to read the article.
Just remember every single time you hear someone say they want to repeal the Dodd-Frank act … they are saying they believe in the idea that markets can regulate themselves. They are saying that what happened in 2008 was just an anomaly and that if only we would not hold the banks back … America would be creating 1 million jobs an hour, everyone’s pay would double and each American citizen will receive one free vintage “Tickle Me Elmo” delivered to their door.
People who talk about repealing the Dodd-Frank law are promising you the world … and if you’re stupid enough to believe it – you deserve what you get … but do your neighbors, friends and family? One notable campaigner in chief against the Dodd-Frank law is Mitt Romney; he has promised to unshackle these banks (who are people) from the burdensome chains of government regulation. Of course – Mitt Romney is getting 80% of all Wall Street money right now … so I’m sure that’s all just a coincidence. </sarcasm> Bernie Sanders says we need to break up these big banks HERE
The bank’s exit from its money-losing trade is happening faster than many expected. JPMorgan previously said it hoped to clear its position by early next year; now it is already out of more than half of the trade and may be completely free this year.
As JPMorgan has moved rapidly to unwind the position — its most volatile assets in particular — internal models at the bank have recently projected losses of as much as $9 billion. In April, the bank generated an internal report that showed that the losses, assuming worst-case conditions, could reach $8 billion to $9 billion, according to a person who reviewed the report.
With much of the most volatile slice of the position sold, however, regulators are unsure how deep the reported losses will eventually be. Some expect that the red ink will not exceed $6 billion to $7 billion.
i think it might be possible that my entire life has been, and will continue to be a single choice. repeated in a billion different ways. phrased ever so slightly differently each time, and if i could just catch the exact question, i might be surprised to find i already have the answer.
Isn’t it a beauty? This thing we call cosmos, universe, the screaming All, and the silent Nothing. It supports us, it waits for us, it reacts to us. It never asks anything of us, for it is our task to ask of it. ‘Why am I here?’ Certainly a question each one of us posed throughout our lives.
Why are you here? Are you here to ask the question, or to live the question? Seldom do we know that there is no such thing as loneliness inside this web of life. We think that we know all that is known in this vastness of the unknown, without ever truly being able to admit that we know not, whilst being too blinded by thinking we know, being scared of the unknown, without the ability to state the obvious and simplest ‘I don’t know’. What grandure the possibilities after taking the unknown into our responsibilities. A constant dance of evolution, rather than the established pace of involution. How do we evolve? Look to your right, you see friends; look to your left, you see sisters/brothers; look from above, you see a family; look from below, you see a home waiting to be discovered; look from all sides, you see evolution.
The essence of You is the essence of I; the essence of I is the essence of all; the essence of all is the the presence of One. See it, hear it, smell it, touch it, taste it; feel it. Do you feel now? Do you know now? Do you realize now? You are all that is. You are the Earth, the Moon, the Sun; this is our Youniverse. There is no end, nor beginning; only the illusion of it. The one and only purpose of existence, is the now; and the experience of it. You are the center of a decentralized web of Youniverses. Now isn’t that a pleasant thought to contemplate? Still need to ask ‘Why am I here?’?
At this point i’m having to enjoy the things i am required to pursue.
unfortunately, the world wants money so it can keep running around in circles. if i had my way, i’d be blogging and writing all the time, but the money is not regular enough. at least as a waiter, there is the pseudo-freedom of self-expression in that i get to communicate with hundreds of people a day. a captive audience is always useful when you’re trying to convince people that they are living a nightmare.
This may seem like something out of a science fiction movie: researchers have designed microparticles that can be injected directly into the bloodstream to quickly oxygenate your body, even if you can’t breathe anymore. It’s one of the best medical breakthroughs in recent years, and one that could save millions of lives every year.
The invention, developed by a team at Boston Children’s Hospital, will allow medical teams to keep patients alive and well for 15 to 30 minutes despite major respiratory failure. This is enough time for doctors and emergency personnel to act without risking a heart attack or permanent brain injuries in the patient.
The solution has already been successfully tested on animals under critical lung failure. When the doctors injected this liquid into the patient’s veins, it restored oxygen in their blood to near-normal levels, granting them those precious additional minutes of life.
There are a lot of cool things you can do with $1,000, but scientists at an Austin, Texas college have come across one that is often overlooked: for less than a grand, how’d you like to hijack a US government drone?
A group of researchers led by Professor Todd Humphreys from the University of Texas at Austin Radionavigation Laboratory recently succeeded in raising the eyebrows of the US government. With just around $1,000 in parts, Humphreys’ team took control of an unmanned aerial vehicle operated by the US Department of Homeland Security.
After being challenged by his lab, the DHS dared Humphreys’ crew to hack into their drone and take command. Much to their chagrin, they did exactly that.