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Jerry | I Am So Annoyed - Part 2

I Am So Annoyed

I am so annoyed :-)
We find stories about the most annoying things and bring them to you!

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The Goldman Sachs shell game

Thursday, December 24th, 2009   7:44 am | Author: Jerry | Economy, Money | Add Comment
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The NYT published an article about Goldman Sachs and their creation of complex mortgage related securities and selling them to their top clients.

 

Other financial institutions including Morgan Stanley and Deutsche Bank also created similar securities.

 

The problem is that these institutions created these securities so that they could bet against them in case the mortgage market imploded. Basically they sold short.

 

Goldman clients including “Pension funds and insurance companies lost billions of dollars on securities that they believed were solid investments.”

 

Meanwhile Goldman raked in the profits first on the fees they collected on selling these securities to their clients and then on their bets that these securities would tank, which they did.

 

“How these disastrously performing securities were devised is now the subject of scrutiny by investigators in Congress, at the Securities and Exchange Commission and at the Financial Industry Regulatory Authority.”

 

“..authorities appear to be looking at whether securities laws or rules of fair dealing were ..continue reading

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Cop draws gun on snowball fighters

Sunday, December 20th, 2009   10:20 am | Author: Jerry | Life | Add Comment
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This might have turned into tragedy but luckily it didn’t.

 

There was a scheduled snowball fight on 14th and U streets in Washington DC yesterday. It was announced on Twitter and many showed up for the first snowball fight of the season.

 

According to the Washington Citypaper  ”a D.C. Police detective (pictured w/ gun) went nuts after kids pelted his Hummer with snowballs at 14th and U Streets NW this afternoon. The veteran detective got out of his car and eventually grabbed for his gun, displaying it to the crowd. He did not immediately identify himself as a police officer. He calmed down once his fellow uniformed cop arrived.”

 

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One eyewitness said the detective was ”kind of out of control. It was really strange to see a police officer so upset and angry over ..continue reading

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Keeping us safe

Friday, December 18th, 2009   7:33 am | Author: Jerry | Technology | Add Comment
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Who writes the software for the US Armed Forces?

 

Yesterday a story broke that Iraqi insurgents were able to hack into the transmissions and view live feeds from U.S. military Predator drones monitoring targets in Iraq.

 

The insurgents used software developed by a Russian company that is available on the Internet for approximately $25.

 

The mighty US armed forces hacked by a $25 software package.

 

There is also some evidence that the hacking occurred with drones flying over Afghanistan.

 

No U.S. troops or combat missions had been compromised because of the intrusions. The insurgents never had control of any of the drones. They were just viewing images transmitted by the drones. However that could have provided information for them to avoid being detected.

 

Apparently the decision was made to eliminate encryption on live feeds because it slowed down the process. This in turn enabled anyone with this Russian software to access the live feeds from the drones.

 

It is ..continue reading

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Wow

Wednesday, December 9th, 2009   1:11 pm | Author: Jerry | Life | Add Comment
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In an interview with Media Life  Evan Tracey of TNS Media Intelligence said that political ad spending this year will hit $1 billion approximately one third of that for health care reform related ads.

 

What a waste. Can you imagine if that money was instead directed to education, housing, feeding the hungry, etc. 

 

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The Virginia Tech shootings

Sunday, December 6th, 2009   7:02 am | Author: Jerry | Life | Add Comment
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A report by Arlington-based System Planning Corporation’s TriData division, an independent public safety consulting firm, claims that the Virginia Tech campus police did not send an alert out about the shooter until 2 hours after the first two victims were found.

 

It further states that officials began to lock down buildings and alerted family and relatives 90 minutes before a general alert was released to all students and faculty.

 

One member of the group charged with sending the alert out sent the following email to a colleague in Richmond at 8:45 AM ’Gunman on the loose. This is not releasable yet,’. The general alert was not sent until 9:26 AM, almost 45 minutes after this email was sent.

 

The CNN article indicates that “The president’s building was locked down by 8:52 a.m., 34 minutes before the rest of campus knew what was happening and more than 40 minutes before the first shots were heard ringing out from ..continue reading

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