Lots of Good Stuff to Read

• Posted by kid dynamite
• on May 25th, 2010

“And the encounters, while distressing, appeared to take a surprisingly severe toll: the 51 drivers who went on paid leave after a spitting incident took, on average, 64 days off work — the equivalent of three months with pay. One driver, who was not identified by the authority, spent 191 days on paid leave.

Transit officials, facing a budget shortfall of $400 million, called the numbers troubling.”

“The crackdown comes on the heels of Wall Street’s 2010 bonus season, during which not one executive was observed to look at the floor meekly, sink his hands into his pockets, or dig his right toe awkwardly into the ground before taking his cut of the estimated $55 billion in payouts.

The SEC rule stipulates that CEOs set to receive bonuses between $1 and $5 million will be required to raise their eyebrows in feigned surprise. Those who make between $5 and $10 million will have to smile uncomfortably and say, “Yikes, that’s a whole lot of simoleons,” while executives receiving more than seven figures must now audibly stammer, “It’s, you know, I mean, ha! What are you gonna do, you know?” before having the funds wired directly to an offshore bank account.”

“Segal notes in his article that a couple of judges have dismissed the rating agencies’ arguments that their analysis is protected by the First Amendment.  OK, if the rating agencies’ grades are not opinions, what are they?  Investors like Mr. Grassi – even more sophisticated investors – seem to treat ratings like they are offering investment advice.  But surely a court would not choose to endorse that kind of silly expectation.  Mr. Grassi did not pay S&P for the ratings.  S&P did not recommend that Grassi buy the bonds (presumably, his broker did that).  S&P did not make an effort to get to know Grassi’s investment objectives, his financial position, his risk tolerance, or anything that would traditionally be associated with the process of providing advice.  So how can Mr. Grassi claim that S&P is responsible for his losses?  How can anyone present this guy as a hero?”

“ING Direct, Australia’s fifth largest lender, is preparing to sell loans that have no fixed term and no requirement to repay any capital along the way.

At current rates, the interest-only loans would cut repayments on a $300,000 mortgage by $5000 a year.

“People are needlessly being denied the chance to buy a property while prices spiral rapidly out of their reach” ING Direct CEO Don Koch said. “There is an urgent need to provide more affordable options and borrowers should be able to choose whether they want to repay the capital, or not.”"

“Regardless of what you look like, I have nailed way hotter women than you.  I promise.  Yes, even if you are the prettiest woman in your Jazzercise class back home.  Regardless of how cute you are, or have been told you are, there is nothing you have that I haven’t seen before, and the chances of me being smitten by your beauty are damn-near non-existent.”

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