Links 4/6/10

Newspaper’s UFO Prank Causes Mayhem in Jordan CBS News (hat tip reader John D)

Laugh Loud, Laugh Hard, Live Long h+ (hat tip reader David C)

Exclusive: Britain: A ‘safe haven’ for war criminals Independent (hat tip reader Buzz)

Financial Crisis Inquiry Wrestles With Setbacks New York Times

The Municipal Market Rick Bookstaber (hat tip reader Don B)

Awww, aren’t CEOs cute? Lambert Strether

Who Controls Bank of Japan? Paul Jackson, The Diplomat

Antidote du jour (hat tip reader Leigh):

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  1. attempter

    Britain as a destination for war criminals:

    It’s not surprising that they’re loath to prosecute other kinds of war criminals while they continue to commit what many call war crimes themselves.

    The comparison with so-called “white collar” crime is apt. Again, TPTB themselves commit such crimes as a matter of course, so they don’t want rigorous enforcement of such crimes in general.

    Of course America is also a haven to its home-grown war criminals, and the current government refuses to enforce the law against the criminals from the previous government because it’s committing many of the same crimes itself.

    1. Cynthia

      Speaking of war crimes, Julian Assange, the co-founder of WikiLeaks, aptly describes what he’s seeing in this video as “soldiers playing video games with peoples lives”:

      Keep in mind that WikiLeaks is a whistleblower site which has collected a wide range of incriminating evidence, confirming that the US military has become a hotbed for war crimes against the Muslim World. Also keep in mind that because the Obama Administration has already put a whistleblower behind bars for collecting incriminating evidence against one of our top too-big-to-jail banking firms, UBS (see link below), the Obama Administration is also likely to use its executive powers to put a whistleblower behind bars for collecting incriminating evidence against our too-big-to-jail security apparatus. So my advise to the whistleblowers at WikiLeaks: hire a crew of security guards that are armed to the teeth. After all, I wouldn’t put it past Obama and his Chicago-style thugs to make plans to snuff out a whistleblower like Julian Assange and put all of his WikiLeaks through the shredder!

  2. Francois T

    Richard Bookstaber – The Municipal Market.

    I think his analysis of the most probable next crisis point of origin is spot on. The muni market has all the trappings of a financial swamp ready to blow.

    However, I was surprised by his very sanguine assessment of the current crisis”:

    Now, as the dust settles from the crisis that emerged in 2008, we can start to think about what might come next. And yes, the crisis really is settling down, despite the alarmists…

    If we accept the above statement, we’ll have to conclude that derivatives are now reformed and risk-less from a systemic point of view, the balance sheets of the banks is now much cleaner, that a return to mark-to-market accounting could be done soon etc., etc.


  3. craazyman

    Still stuck on Irene Rosenfled’s theft of $26 million from 3,600 Cadbury employees.

    Think she should resign and appoint a pro-bono interim CEO — somebody who’ll work for the resume experience, like an intern. There should be thousands of qualified applicants who would do that. Imagine the door opener of being CEO of Kraft for a year or two. I’d eat homemade sandwiches everyday for that opportunity and live on $1500/month. That’s all I really need anyway.

    I figure Irene can take a $1 million dollar consulting fee. We don’t want to be vindictive. Then she can advise the new CEO if he or she wants advice. And Kraft can save $25 million.

    The new CEO can institute a 50% pay cut across all top management. That should save several tens of millions too. And it would cut down on all the meetings. If they don’t like it, they can quit.

    Might be hard to get the board to go along. But I’d also cut their fees by 90% and replace them with interns too.

    Pretty soon the company would be in good shape again.

    Think I’ll write a business book about this new era thinking in business leadership. I’ll bet there’s lots of retired executives who’d work for free, as long as they could go to meetings with each other. But I’d be inclined to hire up-and-coming execs, folks who think $1 million a year is enough for any sane person anywhere in the world to live on. Folks who’s honor would be degraded if they took more — at the expense of long-serving, low-paid workers.

    In other words, folks with souls and consciences.

  4. MyLessThanPrimeBeef

    Today’s antidote du jour could lose some weight through sexercise – exercise through sex.

    I’ve heard that sexercise is the latest fad in fitness.

    1. tyaresun

      I would have never guessed that Jamie Dimon would end up as antidote du jour on Naked Capitalism. Just look at the smirk of satisfaction.

  5. Chris

    Yves (or anybody else for that matter),

    The guys in the interview (link) claim that JPM has perpetrated the biggest financial fraud in the gold market.

    Have you got a take on this? Is it a conspiracy? Is it a hoax? Why is not in the mainstream media, or on here?

    “WHISTLEBLOWER Andrew Maguire & Adrian Douglas: Discuss What Could Be the Largest Fraud in History – Andrew is an independent metals trader turned whistleblower at the center of a storm for exposing what could be the largest fraud in history involving countries, banks and government leaders. Adrian Douglas Board of Director from GATA, the man who Andrew reached out to joins in this interview where they discuss a fraud so extraordinary and so unimaginable that it is the kind of thing that only happens in hollywood thrillers. They also discuss the CFTC sponsored meeting on metals which was an unmitigated disaster because it additionally exposed the fraud on a grander scale”

    Interview with Maguire here, and he sounds convincing (for a nontrader, non economist listener).


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