We already covered the start of this process, where every company involved in the massive Gulf of Mexico oil drilling blow-up was blaming each other.
Here’s Halliburton’s contribution, putting responsibility on BP for their crappy cement job.
Halliburton, whose failed cement job on the BP well in the Gulf of Mexico
was identified as a contributing factor to the deadly blowout by a Presidential investigative panel last week,
Several European officials questioned American requirements for airport security on Wednesday,
a day after the chairman of British Airways criticized Britain for bowing too quickly to Washington’s demands.
The chairman, Martin Broughton, said at a conference on Tuesday that
Britain should not “kowtow to the Americans every time they wanted something done” with aviation security procedures.
22 October 2010. Examples such as these easily draw one to the conclusion that banks are often run as little more than a series of banana republics, and together, the banking elites are a force whose power may put your run of the mill Caudillos to shame. Like all strongmen, bank chairmen are equally thin-skinned, combative and ready to eliminate whomever they believe threatens their reputation or their notions of “honour”. And with those institutions called courts, who needs Death Squads?
23 September 2010.
Renewed economic uncertainty is testing Americans’ generation-long love affair with the stock market.
Investors withdrew a staggering $33.12 billion from domestic stock market mutual funds in the first seven months of this year,
according to the Investment Company Institute, the mutual fund industry trade group.
Now many are choosing investments they deem safer, like bonds.
As part of the draft of a law governing workplace privacy, the German government last month proposed placing restrictions on employers who want to use Facebook profiles when recruiting.
The bill would allow managers to search for publicly accessible information about prospective employees on the Web
and to view their pages on job networking sites, like LinkedIn or Xing.
TPG, one of the world’s biggest private equity firms, will be teaming up with the municipal governments of two of China’s biggest cities
to raise nearly $1.5 billion and create its first funds denominated entirely in Chinese currency.
By making deals with the two cities — Shanghai and Chongqing — TPG, which will be the sole manager of each fund,
is in a position to be one of the biggest investment firms in the Chinese market.
In our Feature today, we attacked the arrogance of the so-called quants,
the “whiz kids” who astounded Wall Street & the world when things were good,
and then blamed the market when things went south – way south.
So it’s with some interest in alternative approaches to investing that we note that
8 September 2010. David Caploe PhD, Chief Political Economist, EconomyWatch.com
And we don’t mean “Bachelors of Science” – especially since most of the people we’re discussing have at least one PhD, if not more.
While the dominance of computers, and the evident correctness of Moore’s Law – at least until this point –
has obviously been a huge boon to every aspect of mind-based economic pursuits,
it has also brought with it a very evident downside, in two areas above all:
As 2010 began, there was nearly unanimous agreement in financial circles on at least one thing:
Interest rates were sure to rise during the year.
For good or ill, quite the contrary has occurred.
As Labor Day approaches, interest rates have collapsed, plunging along with economic optimism.
That turn of events, which has shocked savers and stunned investors, appears to indicate that
