short selling
May 19, 2010 by Trend PK
Filed under World News
EU Comm: Understands Why Germany Took Short Selling Action
Desperate times call for desperate measures and in our view this is a desperate reaction to a structural problem.
More importantly though, we question whether a partial ban on naked short-selling might have the opposite effect in the markets to that hoped for.
Yes, speculative flows will be reduced among German hedge-fund players, but the fact that the ban does not seem to apply to jurisdictions outside Germany suggests that shorting interest may simply become more intense in other financial centres.
That Bafin is acting unilaterally smacks of a panic move and political point scoring by Angela Merkel, now desperate to find German electorate support for her government’s contribution to the EU/IMF €750 billion bailout.
That this is not a co-ordinated EU response will raise questions about the cohesion of the eurozone.
“We fully understand why the Germans have made their decision,” EU
Spokeswoman for Internal Markets Chantal Hughes told reporters, adding
that the Commission thought the measures would be more effective if
coordinated at European level.
“This is about how you manage financial markets, this is done by
member states,” she said. “The powers to temporarily suspend
short-selling only exist at a national level.”
She said other countries in the past had moved to ban short-selling
and that the move wasn’t against the single market because short-selling
can “be restricted by a member state if it is justified in light of the
general interest.”
The European Commission has set up a task force to look at the
impact of short-selling and the functioning of the credit default swap
market. It is due to publish a paper in the next few weeks, with a
formal proposal due in October.
Short-selling occurs when traders sell shares or investments they do not own themselves. Credit default swaps are a type of insurance against a borrower going bankrupt. Both have become a large and lucrative market.
European leaders complain speculators have used credit default swaps on Greek government debt to bet the country would default on its borrowings — raising pressure to the point where it was forced to ask for a bailout.
arlen specter
May 19, 2010 by Trend PK
Filed under World News
How (and why) Arlen Specter lost”
Pennsylvania Sen. Arlen Specter’s defeat at the hands of upstart Rep. Joe Sestak made him the second Senate incumbent to lose an intraparty battle in the 2010 elections — the largest number since four incumbents fell in 1980.
Specter’s loss will be endlessly examined (and then re-examined) in the days to come but, at its root, there were two main factors to blame for it: the perils of party switching and an anti-incumbent national environment.
Party switchers almost uniformly struggle the first time they are on the ballot after the switch. The party they abandoned detests them and will do anything to try to bring about their demise while the party they joined is distrustful of both their motives and loyalties.
Party switchers almost uniformly struggle the first time they are on the ballot after the switch. The party they abandoned detests them and will do anything to try to bring about their demise while the party they joined is distrustful of both their motives and loyalties.
Specter never seemed to adequately explain to Democrats why he switched parties — beyond the fact that it would allow him to be re-elected. Sestak, in what is the early frontrunner for ad of the year, brilliantly exploited Specter’s seeming lack of principle on the switch with a commercial that said the incumbent’s party switch was designed to “save one job…his…not yours.”
Specter’s inability to articulate why he had decided to go from “R” to “D” after spending nearly three decades on the GOP side was compounded by a strong sentiment among voters that the people they have been sending to Washington aren’t getting the job done and a course correction is required.
Specter, 80 years old and having spent five terms in the Senate, was a living and breathing embodiment of the traits that voters across the country seem fed up with these days. Sestak, again, brilliantly played to voters’ resentments about politics-as-usual — casting himself as a part of a “new generation” of leadership who could bring about real change.
While Specter’s defeat is somewhat unique due to his party switch, the loss will have considerable implications on how incumbents — in both parties — run their races moving forward this fall. Running with the establishment is clearly out; outsider messages are, ironically, in.
Mary Weiland
Mary Weiland, Mary Weiland was the wife of Scott Weiland, frontman for the 1990s grunge band Stone Temple Pilots.
He was stoned most of the time, strung out on heroin, often with his wife Mary Forsberg Weiland at his side.
Mary Weiland was just 16 when she entered into a life of sex, drugs and rock ‘n’ roll that included heroin and crack. Scott Weiland is credited with the breakup of the band because of his wild behavior.
Fall to Pieces: A Memoir of Drugs, Rock ‘n’ Roll, and Mental Illness
In March 2007, twenty-four hours after Mary Weiland dragged her husband Scott’s pricey rock-star wardrobe onto their driveway and torched it, she was locked up in a mental hospital. Watching all this were her frightened extended family, a conflicted husband wrestling with demons of his own, and a tabloid industry gone gleeful at the “Bonfire in Toluca Lake!”
To the outside world, Weiland had led what seemed to be an enviable life. A successful international model in the nineties, she married her longtime sweetheart—famed lead singer of Stone Temple Pilots and, later, Velvet Revolver, Scott Weiland—in 2000. Mary was the sane one, went the story—it was the tempestuous, unpredictable Scott who was crazy. In her gripping memoir Fall to Pieces, Mary Weiland reveals that the truth is somewhere in between.
From her earliest days in San Diego, Weiland displayed signs of trouble: a black depression that sometimes left her immobile for days, a temper that sent her into wild rages she didn’t understand, an overdose. But her fierce determination to “have more” led to early success as a model. At sixteen, she fell in love at first sight with Scott Weiland, then an aspiring musician who was hired to drive her to and from modeling gigs. Slowly, her casual relationship with beer and pot grew into an affair with cocaine and heroin that rivaled her love for Scott, who was addicted as well. From rehab to rehab, from breakup to reconciliation to eventual marriage, the couple fought their way back, welcomed the babies they’d dreamed of, and hoped their struggles were behind them. Then came the bonfire breakdown and the full onset of Mary’s bipolar disorder, a widely misunderstood and misdiagnosed mental illness that affects more than five million Americans and had been, in fact, stalking Mary Weiland since her teens.
With refreshing candor, innate comic timing, and earned wisdom, Weiland recounts the extreme highs and lows of her life, including an unforgettable love affair with the man she always knew she’d marry, the careers and rock tours that took them around the world, and her fight to finally come to grips with the addictions that could have killed her. In her journey to understand and manage her bipolar disorder, she takes the reader on a wild ride into the dark and back into the light. Fall to Pieces: A Memoir of Drugs, Rock ‘n’ Roll, and Mental Illness
Mary Weiland was first posted on November 12, 2009 at 8:51 pm.
Oprah Chimp Victim, Charla Nash Pictures After Attack
Oprah Chimp Victim, Charla Nash experienced a brutal attack by 200 pounds chimpanzee in her home. He was an employee of the owner of the chimpanzee. From the family of the victim sued the landlord for $ 50 million.
The picture that describes exactly how the attack was brutal. She wears the veil so that others can not be afraid of it. She desperately wants to recover as soon as possible. Chat Nash had lived 55 years of normal life before she was attacked.
She remembers nothing about the attack. She said she wants to make people aware of the dangers in the keeping of wild animals in homes. She said that these exotic animals are dangerous and must not allow them to stay around us.
Today is the birthday of Charla Nash . She currently resides with her brother and her family depends on for help. She wants to be independent.
Oprah Chimp Victim, Charla Nash Pictures After Attack was first posted on November 12, 2009 at 9:09 pm.
Sammy Sosa before and after, Sammy Sosa face
Sammy Sosa before and after, Sammy Sosa face, Breaking News reports that Sosa is considering endorsing the skin cream allegedly responsible for his lighter skin.
“If he feels it is of good quality, it may be something he will be endorsing and marketing in the United States in the near future,” said Rebecca Polihronis, the former Cubs community relations employee, who spoke on behalf of Sosa.
Sammy Sosa before and after, Sammy Sosa face was first posted on November 12, 2009 at 9:59 pm.
John King will replace Lou Dobbs on CNN
John King will replace Lou Dobbs on CNN, CNN president John Klein said Thursday. CNN has tapped John King to replace Lou Dobbs as the network’s 7 p.m. anchor.
The veteran reporter will move into the 7PM ET slot vacated by Dobbs, who abruptly resigned from the network on Wednesday after 29 years of service.
“The program will reflect what CNN is all about: straight facts from our anchors and the widest range of opinions from across the political spectrum,” CNN president Jonathan Klein said in a statement Thursday morning.
King has been at CNN since 1997, and its chief national correspondent since 2005. He really emerged during the 2008 campaign as a political expert and gained attention for using CNN’s “magic wall” to display voting patterns and information during the run-up and through Election night.
“There is a lot of noise and conflict in our political discourse,” King said in a statement, “which is fun to cover but I’m convinced from my travels that people also thirst for more details as well as insight and context.”
CNN officials announced King was getting the job the morning after Dobbs stunned the TV world by revealing that after nearly 30 years at CNN, he was leaving for good.
John King will replace Lou Dobbs on CNN was first posted on November 12, 2009 at 11:28 pm.
