1,279 karma · joined January 17, 2009
there's actually another layer of abstraction involved. a mortgage backed security, or collateralized mortgage obligation (CMO), is formed by packaging together a large group of home mortgages. a CDO is made by packaging together hundreds of MBS obligations or CMOs.
for instance, if you assume for a second that this device doesn't actually exist, then the current russian response makes perfect sense... it would be in their best interest to neither confirm nor deny existence of of such a machine. i.e. the benefits of hesitation on the side of a potential enemy that believes the machine may exist far outweigh the dangers of accidentally ending the world (since there is no danger at all).
i personally found the "holy grail in america" show to be just a bunch of sensationalist conspiracy theory talk.. 15 minutes of wikipedia-ing shows how out implausible most of the theory that they mentioned is
like it or not, GDP remains a very quantifiable and objective number.
keep in mind that during the depression we were on the gold standard, thus there was none of the inflationary/deflationary risk of a fiat currency..
tests:
http://www.humanmetrics.com/cgi-win/JTypes2.asp
http://apps.facebook.com/my-type/
profiles:
http://www.personalitypage.com/portraits.html
previous HN results:
even worse though, its flat out wrong in other areas.. lehman absolutely knew the risk of its CDOs and in fact was trying to offload them as quickly as possible. in contrast to goldman, lehman was famous for making money packaging and selling its bonds on a fee based model. whereas goldman's model relied more on proprietary trading - actually making bets on the direction of bond moves, lehman would theoretically be profitable regardless because they were making fees from the beneficiary of the bond and taking a cut from placing the bond with customers. the problem that killed them was the turnaround time from when lehman received the assets and "commission" to create the bond and when they could offload it to customers. during this time the bond was actually on lehman's books. basically, wall street caught lehman holding a bad hand of these bonds before they could unload them to the rest of wall street. rumors were started just like they were for bear sterns and financing got pulled like a house of cards..
from an ny times article:
About two years ago, Mr. Tatarchuk said, a Ukrainian woman booked a tour, wore a leather biker jacket and posed for pictures. Soon there appeared a Web site in which the woman, using the name Elena, claimed that she had been given an unlimited pass by her father, a nuclear physicist and Chernobyl researcher ("Thank you, Daddy!" she wrote) and now roamed the ruins at will on her Kawasaki Big Ninja.
source http://www.nytimes.com/2005/06/15/international/europe/15che...
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> 1. One man can start a movement.
> 2. A movement need not be started by the most skilled member of the movement.
> 3. When beginning your movement and you look around and no one else is joining the dance, just keep dancing.
> 4. When the one guy who joins your movement slowly fades away, keep going.
> 5. Before you know it, the people joining your movement won’t even know you started it.
> 6. When your movement takes a life of it’s own, just let go. There will be no stopping it.
> 7. The very people who are staring at you like your nuts as you movement alone, will be the very same people dancing the hardest in the end.
Edit: Here is the link http://www.ragamuffinsoul.com/2009/06/youre-bad-idea-may-sta...
>His experiment in cooperation with four other laboratories, he said, yielded “a very compelling body of data validated by many labs,” and has inspired the researchers to go on freely sharing with one another.”<
Would competition have produced a _more compelling body of data? Very likely if you ask me.