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Intel is reportedly on the cusp of delivering something that consumers around the world have been wanting for a long, long time. Kelly Clay at Forbes reports Intel is going to blow up the cable industry with its own set-top box and an unbundled cable service. Clay says Intel is planning to deliver cable content to any device with an Internet connection. And instead of having to pay $80 a month for [...] By Paul B. Farrell, MarketWatch SAN LUIS OBISPO, Calif. (MarketWatch) — Marquee performers, flashing neon lights. Cirque de Soliel and Celine. David Copperfield’s magic. Elvis and the Jersey Boys. Mirage and Circus-Circus. Cha-ching, cha-ching. Welcome to the world’s biggest casino! Vegas? No, the mutual fund industry. Still, the Vegas imagery captures my imagination every time, reminding me of Vanguard founder Jack Bogle’s analysis of America’s mutual fund industry, repeated [...] It has long been our position at The Automatic Earth that North America is collectively dreaming with regard to unconventional natural gas. While gas is undeniably there, the Energy Returned On Energy Invested (EROEI) is dramatically lower than for conventional supplies. The critical nature of EROEI has been widely ignored, but will ultimately determine what is and is not an energy source, and shale gas is going to fail the test.
As we [...] Meat processors are rushing to quell fears about another kitchen trick that may leave consumers wary of their next steak. A recent expose about the use of ‘meat glue’, a powder substance that connects small pieces of sometimes lesser-quality meat together before repackaging it and pawning it off as a proper fillet mignon, has industry insiders fearful of more consumer outrage following the ‘pink slime’ debate. ‘Someone gave it a catchy name, [...] The losses at Oprah Winfrey’s troubled cable channel are approaching a staggering $330 million, according to a report over the weekend. Industry insiders believe the channel – the Oprah Winfrey network (OWN) – will not last another year unless they come up with a hit show and make a dramatic turnaround. Though ratings have seen a slight insurgence thanks to interview program Oprah’s Next Chapter, it has stumbled since the get go [...] By Paul B. Farrell, MarketWatch SAN LUIS OBISPO, Calif. — “America’s investors have been ripped off as massively as a bank being held up by a guy with a gun and a mask,” former Securities and Exchange Commission Chairman Arthur Levitt warned in an article in Fortune magazine a decade ago. That same year in his classic “Take On The Street,” Levitt lambasted the fund industry as “a culture that [...] Financial Clearing Houses: The Next Casualty Of The Crisis?
Reuters Jan 16 (Reuters) – Clearing houses — the plumbers of high finance – could become the next casualties of the crisis as regulators insist that banks run their riskiest and private trades through them. At the moment banks conduct over-the-counter trades between themselves: one to one dealings often involving multimillion-euro bets on differences in interest or other rates, the scale and complexity of which can be [...] The U.S. Treasury’s Office of Thrift Supervision noted last year (page 7): The FBI estimates that 80 percent of all mortgage fraud involves collaboration This confirms what one of the country’s top fraud experts has said for years: that it was fraud by the big banks – more than anything done by the little guy – which caused the financial crisis: William K. Black – professor of economics and law, and the [...] CNN Money is running this story re: Gasoline the next US big export NEW YORK (CNNMoney) — The United States is awash in gasoline. So much so, in fact, that the country is exporting a record amount of it. The country exported 430,000 more barrels of gasoline a day than it imported in September, according to the U.S. Energy Information Administration. That is about twice the amount at the start of the [...] The U.S. still imports more than half its oil. But thanks to declining demand for products made from crude, the country is now supplying the rest of the world with gasoline. NEW YORK (CNNMoney) — The United States is awash in gasoline. So much so, in fact, that the country is exporting a record amount of it. The country exported 430,000 more barrels of gasoline a day than it imported in September, [...] After the Democratic Congressional Campaign Committee sent a recent email urging supporters to sign a petition backing the wave of Occupy Wall Street protests, phones at the party committee started ringing. Banking executives personally called the offices of DCCC Chairman Steve Israel (D-N.Y.) and DCCC Finance Chairman Joe Crowley (D-N.Y.) last week demanding answers, three financial services lobbyists told POLITICO.
“They were livid,” said one Democratic lobbyist with banking clients. The execs asked the lawmakers: “What [...] by pinecarr Per zerohedge, at http://www.zerohedge.com/article/iraq-slashes-projected-crude-output-half-over-next-5-years And another huge hit to future oil supply. After Goldman released a report on Friday, backtracking on its April recommendation that clients sell crude, instead warning that “critically tight supply-demand fundamentals” will likely cause oil prices to “return to or surpass the recent highs by next year”, “should Libyan oil supplies remain off the market”, which it now appears they will [...] Iraq halves oil output as reality replaces ambition IRAQ is preparing to halve its official production target, forcing oil companies including BP and Shell to renegotiate their contracts. The Times has learnt that the country’s Oil Ministry, with backing from the Prime Minister Nouri al-Maliki, will set a new target to produce between 6.5 million and seven million barrels per day by [...] From Business China: April 7, China, Asia’s largest oil consumer, raised retail prices of gasoline and diesel for the second time this year, starting Thursday, as international crude oil prices continue rising, China Business News reported on Thursday. The benchmark retail price for gasoline will rise by RMB 500 a metric ton on April 7 and that for diesel will increase by RMB 400, the National [...] By Charles Hugh Smith from Of Two Minds America’s Childlike Desire to Avoid Making Trade-Offs The U.S. is childlike: we refuse to make trade-offs, as these require analysis, judgment, sacrifice and maturity. The key characteristic of adulthood is the ability to make trade-offs. The child and the adolescent want everything that they want, now, and they soon learn (at least in America) that whining, cajoling, bargaining and guilt-tripping will get [...] by rjs Exclusive Bombshell of Foreclosure Fraud – Full Deposition of TAMMIE LOU KAPUSTA Law Office of David J Stern – 4ClosureFraud. DC Waking Up to Escalating Foreclosure Train Wreck: Grayson Calls for FSOC to Examine Foreclosure Fraud as Systemic Risk – Yves Smith – Wow, someone in DC has connected the dots: that the banks’ failure to adhere to contractual and legal requirements in the residential mortgage backed securities [...] |
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