Tip for folding shirts in 2 seconds
I saw this quirky video, tried it and like it. Truly, 2 seconds to fold a shirt.
I saw this quirky video, tried it and like it. Truly, 2 seconds to fold a shirt.
The financial meltdown could never have happened if the ratings agencies hadn't rated crap loans as excellent. It would have brought the entire corrupt system to a halt. Matt Taibbi is whipping these culprits with some stunning evidence that has recently come to light.
Thanks to a mountain of evidence gathered for a pair of major lawsuits, documents that for the most part have never been seen by the general public, we now know that the nation's two top ratings companies, Moody's and S&P, have for many years been shameless tools for the banks, willing to give just about anything a high rating in exchange for cash. In incriminating e-mail after incriminating e-mail, executives and analysts from these companies are caught admitting their entire business model is crooked. "Lord help our fucking scam . . . this has to be the stupidest place I have worked at," writes one Standard & Poor's executive. "As you know, I had difficulties explaining 'HOW' we got to those numbers since there is no science behind it," confesses a high-ranking S&P analyst. "If we are just going to make it up in order to rate deals, then quants [quantitative analysts] are of precious little value," complains another senior S&P man. "Let's hope we are all wealthy and retired by the time this house of card[s] falters," ruminates one more.Here's Taibbi's conclusion:
What's amazing about this is that even without a mass of ugly documentary evidence proving their incompetence and corruption, these firms ought to be out of business. Even if they just accidentally sucked this badly, that should be enough to persuade the markets to look to a different model, different companies, different ratings methodologies. But we know now that it was no accident. What happened to the ratings agencies during the financial crisis, and what is likely still happening within their walls, is a phenomenon as old as business itself. Given a choice between money and integrity, they took the money. Which wouldn't be quite so bad if they weren't in the integrity business.This is an engaging and detailed article that will leave you frustrated that it's business as usual for the ratings agencies. Excellent reporting and phenomenal writing by Taibbi.
In a live interview sponsored by the Guardian, Edward Snowden provided more details regarding NSA spying. If 20% of his information is true, Congress should tear apart the NSA, piece by piece. Snowden makes an important distinction between what the NSA policy requires and what really happens on the ground. This is an attack on NSA credibility, which is already highly suspect.
Investigative reporter James Bamford isn't believing the official government positions regarding the Surveillance State. He discussed his reasons for his disbelief with Amy Goodman and Juan Gonzalez of Democracy Now:
Amy Goodman: Jim Bamford, explain the spy center that’s being built in Bluffdale, Utah. JAMES BAMFORD: Well, it’s a mammoth—actually, the best way to think of it is NSA’s external hard drive. It’s a storage place for all that NSA gets from its surveillance, including the daily records of everybody’s telephone calls, which, again, we’ve just been hearing about in the news. But it’s not just that. It’s all this information that’s coming in from the Internet that the NSA picks out. It’s all their surveillance from all around the country, all around the world. And it all goes into this one place. It’s basically a huge data warehouse where all this information is placed. But it also serves as the cloud for NSA, the cloud being the central repository where every—where all the information is kept. And then, through these fiber-optic cables that go out from it, people at NSA headquarters, people at NSA listening posts in Georgia, Texas, all these places, are able to immediately go in. It’s just like, like I said, a hard drive. You go in, and you analyze all that information that’s in there. So if they’re collecting my telephone records today, who I’m calling, then tomorrow or tonight the NSA could go into those records in Bluffdale, Utah, and analyze them. So, that’s basically what it’s for. It’s this massive repository for all the information that NSA is collecting. And it’s a million square feet. It’s an enormous amount of space at a time when you can put a terabyte worth of data on just a blade on a Swiss Army knife, which can, like I said, hold a terabyte worth of data, and this is a million square feet, costing $2 billion. JUAN GONZÁLEZ: Well, I wanted to ask you about—in 2012, at the annual DEF CON convention, the hacker convention, NSA director, General Keith Alexander, was asked whether the NSA keeps a file on every U.S. citizen. This was his response. GEN. KEITH ALEXANDER: No, we don’t. Absolutely not. And anybody who would tell you that we’re keeping files or dossiers on the American people know that’s not true. And let me tell you why. First, under our agency, we have a responsibility. Our job is foreign intelligence. We get oversight by Congress, both intel committees and their congressional members and their staffs, so everything we do is auditable by them, by the FISA Court—so the judiciary branch of our government—and by the administration. And everything we do is accountable to them. And within the administration, it’s from the director of national intelligence, it’s from the Department of Justice, it’s from the Department of Defense. I feel like when I was a kid growing up—and some of you may feel like this, too. You know, you might get in a little trouble. You’re supervised a lot and maybe had to spend time in the hall. Well, that’s the way I feel today. We are overseen by everybody. And I will tell you that those who would want to weave the story that we have millions or hundreds of millions of dossiers on people is absolutely false. JUAN GONZÁLEZ: James Bamford, that was General Keith Alexander, again, at the DEF CON convention in 2012 in—as we mentioned yesterday, wearing jeans and a T-shirt, a black T-shirt. Your response, especially this whole thing that he raises about we’re just involved in foreign intelligence gathering? JAMES BAMFORD: Well, it’s funny. I was there, too. I also spoke at the DEF CON conference there. But the comments that General Alexander made, I thought, were amazingly out of place, because here it is, we just discovered he has all these dossiers that he’s listing, that he’s got all these records on American people and all these links into American Internet. What he’s talking about in terms of oversight also is—is just nonsense. He talks about the courts. Well, the court he’s talking about is a top-secret court that nobody is even allowed to know where it exists, where its address is, let alone getting any information from it. And in the last—or, the last time that they overhauled the legislation, they weakened the court a great deal. So, I’m sure—was that the answer you were looking for? What was the question again? JUAN GONZÁLEZ: Well, basically, his emphasis on the foreign intelligence gathering, as well, the role of NSA. JAMES BAMFORD: Right, right, right, yeah. Well, that’s always what they claim, is that, "Look, we’re not involved in the United States at all. We’re not involved in U.S. interception at all. We’re just involved in foreign communications." Well, you know, if you look at that Foreign Intelligence Surveillance Court order that was released, what it talks about is getting from Verizon not just overseas calls, it talks about local calls. These are calls that aren’t even going to be on your bill. I mean, these are local calls or, you know, somebody calling their grandmother next door. We’ve come down to that, where the government is trying to get access to even your local calls. And I don’t see any connection between that and what they say. What they claim is that we’re only doing international, we’re only doing foreign communications. Well, when you’re asking for local phone calls throughout the United States, everybody in the United States, on a daily basis, you know, where’s the truth in all these claims?
In this excellent 1999 video, George Carlin discusses the language of politics: