it is a shitty term tho, def
― diouf est le papa du foot galsen merde lè haters (nakhchivan), Friday, 16 September 2011 17:51 (twelve years ago) link
eh i dunno, it's quite useful as a means of conveying the right tone of contempt society ought to feel for the wastrel layabouts tbh
― talking heads, quiet smith (darraghmac), Friday, 16 September 2011 17:53 (twelve years ago) link
I have no problem w/redundant. It doesn't imply fault like 'fired' does. It implies that the employer doesn't have any meaningful/profitable work for you to do.
― em vee equals pea queue (Michael White), Friday, 16 September 2011 18:01 (twelve years ago) link
that's awful
― partistan (dayo), Friday, 16 September 2011 19:18 (twelve years ago) link
this is typical police illiterately pretentious usage though. no one except a policeman would say "he has been redundant for a year". you get made redundant, and then you are unemployed. like how only police say "i was proceeding along oxford st" or "he asked myself how to get to piccadilly circus".
― caek, Saturday, 17 September 2011 07:51 (twelve years ago) link
holler
― is it shakeymostep? (cozen), Saturday, 17 September 2011 08:52 (twelve years ago) link
Redundant is only a little better than 'managed out'. Not by much.
― xyzzzz__, Saturday, 17 September 2011 08:59 (twelve years ago) link
further underscoring the impotency of the SEC
http://www.nytimes.com/2011/09/17/business/sec-official-in-madoff-case-may-draw-a-criminal-inquiry.html?_r=1
― partistan (dayo), Saturday, 17 September 2011 11:40 (twelve years ago) link
ts your maddie vs our maddie
― talking heads, quiet smith (darraghmac), Saturday, 17 September 2011 14:37 (twelve years ago) link
Adoboli (who, let me stress, has yet to enter a plea) was in exchange traded funds – which used to look like unit trusts, but have got increasingly complicated. One of the top market regulators, Mario Draghi, recently described ETFs as "reminiscent of what happened in the securitisation market before the crisis". Read that quote again: he's comparing them to sub-prime mortgages. Most of us should get very worried; rogue traders should go steaming in.
http://www.guardian.co.uk/commentisfree/2011/sep/19/brain-food-ubs-kweku-adoboli/print
― diouf est le papa du foot galsen merde lè haters (nakhchivan), Monday, 19 September 2011 23:12 (twelve years ago) link
http://curiouscapitalist.blogs.time.com/2011/09/16/why-financial-reform-hasnt-stopped-rogue-traders/
― Whiney G. Blutfarten (dayo), Tuesday, 20 September 2011 12:16 (twelve years ago) link
http://www.nytimes.com/2011/09/21/business/dodd-frank-act-is-a-target-on-gop-campaign-trail.html
Republicans say Dodd-Frank is the root of some of today’s economic problems. It has stopped banks from lending to “job creators,” they contend, and is a direct cause of high unemployment. “It created such uncertainty that the bankers, instead of making loans, pulled back,” said Mitt Romney, the former Massachusetts governor, speaking at a South Carolina rally over Labor Day weekend where he again called for the law’s repeal.
ahahahaha
hahahah
haha
...
*shoots self*
― Whiney G. Blutfarten (dayo), Wednesday, 21 September 2011 10:27 (twelve years ago) link
http://www.spiegel.de/international/zeitgeist/0,1518,788462,00.html
for this headline I am not against journalistic muckraking
― dayo, Monday, 26 September 2011 18:56 (twelve years ago) link
Jérôme Kerviel, gambled away billions in 2010. He is still serving a three-year jail sentence.
p cool how you can lose billions and just do 3 years in a minimum security jail
that study sounds pretty weak but oh well i'm still always happy when people push the psychopath angle, cuz if there were a cultural and spiritual system that caused and possibly even mandated people who were not psychopaths to behave like psychopaths that system might benefit from review
― the-dream in the witch house (difficult listening hour), Monday, 26 September 2011 19:31 (twelve years ago) link
never review ILM, please
― dayo, Monday, 26 September 2011 19:33 (twelve years ago) link
https://www.youtube.com/watch?v=vAWv9gV8Cxo&feature=related
― Milton Parker, Monday, 26 September 2011 19:56 (twelve years ago) link
yeesh
― runaway (Matt P), Monday, 26 September 2011 19:59 (twelve years ago) link
hahaha! they rule! literally.
― scott seward, Monday, 26 September 2011 20:05 (twelve years ago) link
you would think they could afford better cameras
― dayo, Monday, 26 September 2011 20:07 (twelve years ago) link
and thrones
― runaway (Matt P), Monday, 26 September 2011 20:07 (twelve years ago) link
they should throw blood diamonds at all the passing hippies.
― scott seward, Monday, 26 September 2011 20:09 (twelve years ago) link
i'm no help cuz i kinda hate all the people involved. the cops, the fatcats, the hippies. they all need some billy club action.
― scott seward, Monday, 26 September 2011 20:10 (twelve years ago) link
The Hibernian Express will shave six milliseconds off that time.Of course, verifiable figures are elusive and estimates vary wildly, but it is claimed that a one millisecond advantage could be worth up to $100m (£63m) a year to the bottom line of a large hedge fund.
This is kind of the real plot of the latest William Gibson novel
― Kiarostami bag (milo z), Monday, 26 September 2011 20:10 (twelve years ago) link
http://www.eweekeurope.co.uk/news/low-latency-network-to-connect-london-and-hong-kong-40545
― dayo, Monday, 26 September 2011 20:11 (twelve years ago) link
A high-speed fibre network between London and Hong Kong could help decrease financial trading timesFinancial traders and law firms are set to benefit from a new low-latency network between London and Hong Kong, which can conduct data on a round trip from Europe to Asia in around 176 milliseconds.The cable network, run by UK-based trading technology company BSO Network Solutions, has been in place for some time, but previously had to route around large parts of Russia, due to difficulties laying fibre in that country.However, a new lower latency and higher availability ‘Transit Mongolia’ connection has helped to reduce the time of a round trip by more than 20 milliseconds during the last 12 months. Improvements have also been made at BSO’s Ancotel point-of-presence (POP) in Frankfurt and Mega-I POP in Hong Kong.
Financial traders and law firms are set to benefit from a new low-latency network between London and Hong Kong, which can conduct data on a round trip from Europe to Asia in around 176 milliseconds.
The cable network, run by UK-based trading technology company BSO Network Solutions, has been in place for some time, but previously had to route around large parts of Russia, due to difficulties laying fibre in that country.
However, a new lower latency and higher availability ‘Transit Mongolia’ connection has helped to reduce the time of a round trip by more than 20 milliseconds during the last 12 months. Improvements have also been made at BSO’s Ancotel point-of-presence (POP) in Frankfurt and Mega-I POP in Hong Kong.
― dayo, Monday, 26 September 2011 20:12 (twelve years ago) link
the real reason they are installing these new high speed pipes is to have the world's best COD5 ping time
Some dude in my building just volunteered to me out of the blue that he's been camping out on Wall Street.
I guess I kind of support that except I don't really understand the protest. There doesn't seem to be any focus or goal.
― Disraeli Geirs (Hurting 2), Monday, 26 September 2011 20:39 (twelve years ago) link
http://digbysblog.blogspot.com/2011/09/protesting-in-real-america_25.html
alfred posted this yesterday, it's a good take I think
― iatee, Monday, 26 September 2011 20:40 (twelve years ago) link
This dude can barely contain his excitement at the crash he hopes is coming:
http://www.bbc.co.uk/news/business-15059135
― StanM, Monday, 26 September 2011 20:45 (twelve years ago) link
(Excesses: pink tie)
― StanM, Monday, 26 September 2011 20:46 (twelve years ago) link
http://www.truth-out.org/occupy-wall-street-activists-disrupt-sothebys-art-auction/1316786413
This is pretty effective actually, I think.
― Disraeli Geirs (Hurting 2), Monday, 26 September 2011 22:12 (twelve years ago) link
would love to punch the champagne drinkers in the face -- BUT WITH THAT SAID the troll inside me applauds
― yung huma (J0rdan S.), Monday, 26 September 2011 23:06 (twelve years ago) link
OTM
― Disraeli Geirs (Hurting 2), Tuesday, 27 September 2011 00:22 (twelve years ago) link
yeah you have to admire them. they should do coke too, though
― can men eat harmony? (admrl), Tuesday, 27 September 2011 00:24 (twelve years ago) link
I would love a glass of champagne now tbh
― Anakin Ska Walker (AKA Skarth Vader) (Alfred, Lord Sotosyn), Tuesday, 27 September 2011 00:34 (twelve years ago) link
Pay a liberal arts grad to bring you one
― can men eat harmony? (admrl), Tuesday, 27 September 2011 00:36 (twelve years ago) link
I wish they would drive through the crowd in Bentleys shouting "Pardon me, but if you'd be so kind as to step aside, I've an appointment with the president of the federal reserve. Oh, and do you have any grey poupon?"
― Disraeli Geirs (Hurting 2), Tuesday, 27 September 2011 02:50 (twelve years ago) link
http://nymag.com/daily/intel/2011/09/goldman_sachs_has_reduced_its.html
lmao, these guys,
― iatee, Tuesday, 27 September 2011 15:59 (twelve years ago) link
Oh, and do you have any grey poupon?"
As if they'd ever touch that vulgar stuff!
― What does one wear to a summery execution? Linen? (Michael White), Tuesday, 27 September 2011 16:05 (twelve years ago) link
It has also gone mostly cashless in the cafeteria and other areas, eliminating the need to pay armored truck companies to haul away the money.
― dayo, Tuesday, 27 September 2011 16:07 (twelve years ago) link
fwiw this seems like an appropriate thread for our friend Alessio Rastani if u guys haven't seen him yet
https://www.youtube.com/watch?v=aC19fEqR5bA
― thank you BIG HOOS, you brilliant god-man (BIG HOOS aka the steendriver), Tuesday, 27 September 2011 16:10 (twelve years ago) link
feel like goldman sachs should mandate an iv drip and colostomy bag so that traders never have to leave their desks
― dayo, Tuesday, 27 September 2011 16:11 (twelve years ago) link
There's some talk that that guy's a Yes Men-style satirist, but it's too hard to tell anymore.
Perrin takes note of the sneering at Wall St Occupiers:
The Times and others of their class despise democracy. Demonstrations count only in official enemy states. At home, it's unnecessary. Petulant. Naive.
How serious can these kids really be? They use laptops and iPhones to communicate and spread their message. If they were truly radical, they'd use cardboard megaphones. Hand signs. Smoke signals. Using The Man's technology is hypocritical.
http://dennisperrin.blogspot.com/2011/09/time-never-tells.html
For you fans in D.C.: he's moving there!
― incredibly middlebrow (Dr Morbius), Tuesday, 27 September 2011 19:05 (twelve years ago) link
If Rastani is a satirist, he's built up a somewhat convincing web presence for his stock trading stuff (although I wouldn't put it past the Yes Men or other satirists to do that). Even if he's not though, who is he, exactly? Some trader? Being a trader doesn't make you privvy to any special or secret information, and a lot of traders are idiots. He might be right, he might be wrong, but why was he being interviewed exactly?
― Disraeli Geirs (Hurting 2), Tuesday, 27 September 2011 20:38 (twelve years ago) link
nah yeah rastani seems like the real thing
― thank you BIG HOOS, you brilliant god-man (BIG HOOS aka the steendriver), Tuesday, 27 September 2011 20:40 (twelve years ago) link
the telegraph has got to the heart of it: he's not a hoaxer, but he's kind of a fake:
http://www.telegraph.co.uk/finance/economics/8792829/BBC-financial-expert-Alessio-Rastani-Im-an-attention-seeker-not-a-trader.html
― joe, Tuesday, 27 September 2011 20:44 (twelve years ago) link
it's definitely a variation on poe's law
― dayo, Tuesday, 27 September 2011 20:44 (twelve years ago) link
but I mean if you have ever read a book chronicling the lives of wall street traders (and yes, even w/ the bias), you'll know why he passes the sniff test; he's just parroting what every trader out there is thinking atm.
― dayo, Tuesday, 27 September 2011 20:46 (twelve years ago) link
dude isn't really helping the cause imho
― unorthodox economic revenge (Shakey Mo Collier), Tuesday, 27 September 2011 20:50 (twelve years ago) link
http://cepr.net/blogs/beat-the-press/the-cost-of-a-financial-transactions-tax-to-retirement-funds
Hawaii Senator Brian Schatz recently introduced a bill proposing a 0.1 percent tax on financial transactions. This means that when people trade a share of stock or a bond, they would pay a tax rate of 0.1 percent ($1 on $1,000), on their trades. According to the Congressional Budget Office, this tax can raise more than $80 billion a year in revenue, somewhat more than the entire annual budget for the food stamp program.Not surprisingly, the financial industry doesn’t like the idea. It has argued that this tax would be a big hit to retirees and pension funds. While it is understandable that the industry would try to raise such fears to protect its profits, its claims have little basis in reality, as a bit of arithmetic can quickly show.
Not surprisingly, the financial industry doesn’t like the idea. It has argued that this tax would be a big hit to retirees and pension funds. While it is understandable that the industry would try to raise such fears to protect its profits, its claims have little basis in reality, as a bit of arithmetic can quickly show.
― Lil' Brexit (Tracer Hand), Sunday, 28 April 2019 14:56 (five years ago) link
um yeah, pension funds and individual 401k holders are probably the least active traders. Not to mention that transaction costs are at all-time lows as it is.
― longtime caller, first time listener (man alive), Monday, 29 April 2019 14:27 (five years ago) link
it's free money to the tune of $80B/year and our political system is so in hock to finance that it won't pick the money up off the ground
― Lil' Brexit (Tracer Hand), Monday, 29 April 2019 15:07 (five years ago) link
https://www.trashberg.com/p/i-think-i-found-jamie-dimons-secret
Jamie Dimon is so boring his secret social media accounts aren’t even horny.
― Joe Bombin (milo z), Wednesday, 28 April 2021 21:01 (three years ago) link
Matt Levine in top form today on the Archegos report:
https://www.bloomberg.com/opinion/articles/2021-07-29/archegos-was-too-busy-for-margin-calls
Everything in the report is like this. This report is not a bunch of lawyers identifying a bunch of problems and characterizing them, in hindsight, as 'red flags.' Everyone saw all the problems here, evaluated them reasonably, came up with sensible solutions and then didn’t do them.
― o. nate, Thursday, 29 July 2021 18:39 (two years ago) link