How Apple Got Everything Right By Doing Everything Wrong Wired
How Leander Kahney Got Everything Wrong by Being an Irredeemable Jackass John Gruber. A shellacking of the Apple article above.
Doesn’t Everyone Know that It’s Not a Subprime Problem? Dean Baker
The Difference Between Investment Banks, Hedge Funds, Credit Card Borrowers and Microcredit: “The Poor Always Pay Back” Vivian Norris de Montaigu, Huffington Post
Lewis Fights The Bear (and Gets Mauled) Cassandra Does Tokyo
The World’s Scariest Chart Business Week (hat tip Felix Salmon)
Fed Bypasses Emergency-Loan Policy on Rate for Securities Firms Bloomberg
Bear Stearns’ shareholders should take the $2 and run MarketWatch
Antidote du jour:
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If you’re going to link to that Wired story, at least link to the Gruber take-down as well.
Count me as one of those who appreciate your use of Optima and American Typewriter, even if Windows users can’t (15% of US computers sales now).
“at least link to the Gruber take-down as well”
Why bother? Gruber is the most predictable Apple zealot the world has ever seen. He’s *always* saying the same thing, and will always be, because that’s what he’s paid for.
I did add the link, because even if it is predictable, in this case Gruber has a point. His offense at the implication that Apple is evil is overheated, which does reduce his credibility. However, while I probably labor under the delusion that my information is in any way shape or form protected (at least I use a comparatively obscure website/mail host), I am hugely leery of some of the ideas Google is promoting, like GoogleDocs. Bad enough that we have gotten accustomed to giving away a ton of personal information to make purchases over the Internet. It’s quite another to exploit that insensitivity (privacy vs convenience) to encourage people to put documents on servers not under their control. Yikes.
that scary chart will be less so once interest rates are not so dangerously low!
Mr. Lewis’s mistake wasn’t to invest in Bear. It was to invest his own money in Bear.
What he should have done is start an IB, get investors to pony up a billion dollars in return for shares, and bet it all on Bear. Then, if you win, you pay out all your gain as “bonuses” for management (you), giving nothing back as dividend to your investors. If you lose, you whimper to the Fed that the mean market is making you cry, and that if Uncle Ben doesn’t make you whole, you’re going to hold your breath until you die (and America wouldn’t want that, would it?), and wait for kind Uncle Ben and the American taxpayer to buy your investments at par.
Risking your own money and taking your loss like a man? How quaintly British! Those socialists have much to learn about making money from the rugged breed of capitalists red-in-tooth-and-claw we find in America!
Re the world’s scariest charts. I did an analysis on US consumer debt in November 2007 which provides a number of similar charts. See the link below.
http://www.moneymanagedproperly.com/newsletters/TAMRIS%20Perspectives%20On%20Capitalism%20In%20Crisis%202.pdf