Monthly Archives: September 2013

Even When Politicians Are Right, They’re Still Wrong

"'Brazil’s president, Dilma Rousseff, has launched a blistering attack on US espionage at the UN general assembly, accusing the NSA of violating international law by its indiscriminate collection of personal information of Brazilian citizens and economic espionage targeted on the country’s strategic industries.' Dilma is furious because the NSA spied on her personally as well as on Brazil’s 'state oil corporation.' Her solution to the NSA’s snooping? The United Nuts should 'oversee a new global legal system to govern the internet.' Whoa! Just when you thought the panopticon couldn’t possibly get any worse, this dingaling manages to conjure an even more frightening scenario." Continue reading →

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How to Decode the True Meaning of What NSA Officials Say

"An equally insidious threat to the integrity of our national debate, however, comes not from officials’ outright lies but from the language they use to tell the truth. When it comes to discussing government surveillance, U.S. intelligence officials have been using a vocabulary of misdirection—a language that allows them to say one thing while meaning quite another. The assignment of unconventional meanings to conventional words allows officials to imply that the NSA’s activities are narrow and closely supervised, though neither of those things is true. What follows is a lexicon for decoding the true meaning of what NSA officials say." Continue reading →

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The NSA’s hiring – and they want a ‘civil liberties’ officer

"The ongoing Snowden revelations about the NSA's indiscriminate spying on private communications over the internet make the role particularly challenging. Anyone applying for the role would do well to familiarise themselves with the Electronic Frontier Foundation's handy guide to decoding NSA doublespeak. When senior NSA officials maintain that keeping track of phone conversations, for example, doesn't count as surveillance, then any privacy officer is going to have a difficult job. In fact, we can think of few more difficult jobs since the post of Staff Rabbi to the Spanish Inquisition." Continue reading →

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The Millionaire Residency Visa

"For foreigners, it used to be that hard work and plenty of patience for bureaucratic red tape would garner access into a coveted country. But, these days, sometimes all it takes to grab that golden ticket is achieving multimillionaire status and promising to make a hefty investment in a new homeland. Countries such as the United States, Australia and New Zealand are all embroiled in a global tug-of-war for the wealthy, and each has either rolled out or reauthorized what are known as millionaire visas in recent years. These programs, which are aimed squarely at wealthy investors, fast-track these individuals' path to permanent residency—and sometimes even citizenship." Continue reading →

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The System Of The World – An Infographic

"This is The System Of The World. It lays out in logical frankness how the various layers of the facade we call 'democracy' and 'free markets' interoperate and together create a grotesque caricature of the ideals they purport to serve and keep us all enslaved. Join us on a trip through The System." Continue reading →

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Bitcoin Securities Exchange Shutters, Cites Regulatory Environment

"BTC Trading Corp (BTC-TC) announced that it will close all trading by October 7, two weeks from today. BTC-TC is one of the largest bitcoin securities exchanges, responsible for 101,000 BTC ($12M) in deposited securities and 2,900 BTC ($350K) in daily volume. The company’s notice cited 'recent changes in the virtual currency regulatory environment' as the reason for shuttering operations. Also closing is LTC-Global, a litecoin-denominated securities exchange also run by Ethan Burnside, the same operator as BTC-TC. All trading was temporarily halted and order books were cleared after the announcement was made at 5am EST." Continue reading →

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Subprime lending execs back in business five years after crash

"Five years after the financial crisis crested with the bankruptcy of Lehman Brothers Holdings Inc., top executives from the biggest subprime lenders are back in the game. Many are developing new loans that target borrowers with low credit scores and small down payments, pushing the limits of tighter lending standards that have prevailed since the crisis. Some experts fear they won’t know where to stop. The Center for Public Integrity in 2009 identified the top 25 lenders by subprime loan production from 2005 through 2007. Today, senior executives from all 25 of those companies or companies that they swallowed up before the crash are back in the mortgage business." Continue reading →

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Debt: Still Cheap, and Getting Looser

"The industry is clearly rebounding. Guy Cecala, publisher of the trade magazine Inside Mortgage Finance, says, 'You're going to see a little more risk coming into the system' as lenders permit smaller down payments and finance more investment properties. 'Five years down the road and we're back in the thick of it again. It's a weird place to be,' says Cliff Rossi, who was a high-level risk management executive at Countrywide, Washington Mutual, and Freddie Mac before the crisis. 'In that intervening 20 years, we forgot what we learned in the '80s,' he says. 'I fear right now, human nature being what it is, that downstream we could find ourselves in the same situation.'" Continue reading →

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