Curse of the ‘Strong-Euro’
Behind the ‘Strong-Euro’
A nervous Europe
How will Europe get out of this pit?
- China Rebuffs Hopes It Might Help Bail Out Europe (online.wsj.com)
- Europe Aiming To Ramp Up Crisis Fund As Other Nations Raise Alarm (huffingtonpost.com)
- Pastor to be extradited to Kenya accused of stealing babies (guardian.co.uk)
- Euro Crisis to Hurt Ireland’s Deficit-Cutting Efforts (online.wsj.com)
- The euro will survive (That’s not a typo) (money.cnn.com)
- Mandelson calls for Euro backing (independent.co.uk)
- Crisis, Wages Get Stuck in a Conundrum (online.wsj.com)
- Immi-grunts and Assimilation (behind2ndlook.wordpress.com)
The director’s sister-in-law Mathilde Seigner hinted that the leader has been instrumental to the recent development.
“I wouldn’t go so far as to say that it is thanks to the President that Roman has been freed, but he has been super. The President has been very effective,” Times Online quoted her as telling Le Parisien newspaper.
Sarkozy had earlier expressed his views on the director being held on a US warrant for having unlawful sex with a 13-year-old girl in 1977. (via Nicolas Sarkozy ‘helped’ Roman Polanski get bail).
Joseph Wambaugh on Hollywood
For years now, I have been avid reader of Joseph Wambaugh – a policeman turned writer. His comedies, wrapped in (mostly) LA or (sometimes) New York milieu, are in the style of Raymond Chandler under halogen lamp. The darker areas get better light. The chrome glints more. Glamour quotient gets mixed with large doses of warmth and understanding. Unlike Chandler, Wambaugh’s is never judgmental – which make his characters very real.
I read Wambaugh’s Glitter Dome, and twenty years later I remember one of his interesting observations on Hollywood,
Parking, not pussy, is at a premium around these parts, they said.
Sex, Cinema and Fashion
Hollywood, Bollywood (a patronizing name by which Indian film industry calls itself), haute couture businesses have a rather blase attitude about sex. Hence, to hold Hollywood to ordinary behavioural norms, has a puritanical air about it. In the Polanski affaire, the alleged victim, Samantha Geimer, wants the case closed.
But anyway, coming to why this story gets me curious, is why did Anand Jon, a haute couture designer get such a harsh sentence. Unwilling /semi-willing /actively willing sex in Hollywood /Bollywood /haute couture businesses is what (I have been given to believe is) normal. I mean these days, stars /starlets ‘leak’ sex tapes on the internet.
And no one has ever been seriously prosecuted, convicted and sentenced – as Anand Jon has been!
Where is the balance
I am assuming that Anand Jon is guilty. Is it the first time that models have tried advancing their career by sleeping with designers? Has it not happened before? I wonder what is it that Anand Jon did, which brought down the entire American judicial establishment onto him like ton of bricks. The case of the Sri Lankan Rajarathnam has similar smell to it.
The US prosecuting authority, Preet Bharara, the U.S. Attorney for the Southern District of New York, alleges that the Galleon Fund made some US$20 million out of this insider trading. I am sure that Galleon Fund (more than US$5 billion in assets under management) spent more than US$20 million on tea, coffee, espresso, soda, Evian and paper napkins. Rajrathnam’s own net worth was estimated by “Forbes” to be US$ 1.3 billion.
Is there any sense, any balance to these cases. Is Preet Bharara, indulging in reverse ‘affirmative action’ by prosecuting Rajarathnam? Is Preet Bharara trying to prove that he is colour blind?
“If you’re a wealthy trader, you aren’t special,” Bloomberg quoted Manhattan U.S. Attorney Preet Bharara as saying at a press conference. “Knock on our door before we come knocking on yours.”
If you ask me, he should investigate Hank Paulson, the Former Treasury Secretary, under whose watch many bankruptcies happened conveniently in favour of JP Morgan and Goldman Sachs.
The biggest bankruptcy in history might have been avoided if Wall Street had been prevented from practicing one of its darkest arts.
As Lehman Brothers Holdings Inc struggled to survive last year, as many as 32.8 million shares in the company were sold and not delivered to buyers on time as of September 11, according to data compiled by the Securities and Exchange Commission and Bloomberg. That was a more than 57-fold increase over the prior year’s peak of 567,518 failed trades on July 30.
The SEC has linked such so-called fails-to-deliver to naked short selling, a strategy that can be used to manipulate markets. A fail-to-deliver is a trade that doesn’t settle within three days.
“We had another word for this in Brooklyn,” said Harvey Pitt, a former SEC chairman. “The word was ‘fraud.’” (via Naked short sales hint fraud in bringing down Lehman).
This is very similar to Joseph Kennedy’s shorting the market before The Great Depression. It has always been a wonder to me how could Joseph Kennedy, a bootlegger and a friend of the mafiosi could become SEC Chairman? And after that did happen, would a Great Depression not follow?
It was always 2ndlook’s suspicion that Hank Paulson’s behaviour in the Lehman collapse is similar to Bootlegger Kennedy’s behaviour. And this now coming out all in the open!!