Comments on: Cargo Cult Regulation http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html Dispatches from a Small Business Sun, 12 Feb 2012 02:42:00 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Payday Loan Advocate http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13785 Payday Loan Advocate Sat, 11 Oct 2008 09:06:29 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13785 <p>David Kernell, the 20-year-old son of Democratic Representative Mike Kernell of Tennessee, got popped. According to CNN (“Democratic lawmaker's son indicted in Palin hacking”), he reset the password and gained access to GOP VP candidate Palin's personal E-mail account. It is alleged that he read the contents, took a screenshot of her E-mail directory and obtained other personal information. The information that may have been compromised includes E-mail addresses and pictures of family members, one or more cell phone numbers of family members, family birthdates and more from Palin's address book. Interestingly, after turning himself in, David Kernell pleaded not guilty. He pleaded not guilty despite the fact that he (allegedly) took the information he hacked from Palin's personal account and posted it to a public Web site. Not only that, but he posted the new password he’d created, which would enable others to easily access Palin's E-mail themselves and view any of the contents. As a result, Kernell Junior may be subject to the heat of a five-year prison term, $250,000 fine and three years of supervised release. That’s enough to turn anybody into a fluffy white piece of popcorn. At the maximum of $1,500 per loan, that bail would require about 167 individual payday loans to free that fluffy little popped grain treat from being overcooked by cellmates.<br /> Post Courtesy of Personal Money Store<br /> Professional Blogging Team<br /> Feed Back: 1-866-641-3406<br /> Home: http://personalmoneystore.com/NoFaxPaydayLoans.html<br /> Blog: http://personalmoneystore.com/moneyblog/<br /> </p> David Kernell, the 20-year-old son of Democratic Representative Mike Kernell of Tennessee, got popped. According to CNN (“Democratic lawmaker’s son indicted in Palin hacking”), he reset the password and gained access to GOP VP candidate Palin’s personal E-mail account. It is alleged that he read the contents, took a screenshot of her E-mail directory and obtained other personal information. The information that may have been compromised includes E-mail addresses and pictures of family members, one or more cell phone numbers of family members, family birthdates and more from Palin’s address book. Interestingly, after turning himself in, David Kernell pleaded not guilty. He pleaded not guilty despite the fact that he (allegedly) took the information he hacked from Palin’s personal account and posted it to a public Web site. Not only that, but he posted the new password he’d created, which would enable others to easily access Palin’s E-mail themselves and view any of the contents. As a result, Kernell Junior may be subject to the heat of a five-year prison term, $250,000 fine and three years of supervised release. That’s enough to turn anybody into a fluffy white piece of popcorn. At the maximum of $1,500 per loan, that bail would require about 167 individual payday loans to free that fluffy little popped grain treat from being overcooked by cellmates.
Post Courtesy of Personal Money Store
Professional Blogging Team
Feed Back: 1-866-641-3406
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]]> By: Joseph Hertzlinger http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13784 Joseph Hertzlinger Sun, 21 Sep 2008 00:07:44 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13784 <p>Banning short selling is like dealing with a fire alarm by putting your fingers in your ears.</p> Banning short selling is like dealing with a fire alarm by putting your fingers in your ears.

]]> By: Methinks http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13783 Methinks Sat, 20 Sep 2008 21:47:28 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13783 <p>SEC to responds to Mesa's demands.</p> <p>Done!</p> SEC to responds to Mesa’s demands.

Done!

]]> By: Mesa Econoguy http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13782 Mesa Econoguy Sat, 20 Sep 2008 18:30:47 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13782 <p>I did not post that twice.</p> <p>Liquidity still needs to die.<br /> </p> I did not post that twice.

Liquidity still needs to die.

]]> By: Mesa Econoguy http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13781 Mesa Econoguy Sat, 20 Sep 2008 18:29:18 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13781 <p>Die liquidity, die!!!!!</p> <p>[I’m short liquidity, long shame]<br /> </p> Die liquidity, die!!!!!

[I’m short liquidity, long shame]

]]> By: Mesa Econoguy http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13780 Mesa Econoguy Sat, 20 Sep 2008 18:28:47 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13780 <p>Die liquidity, die!!!!!</p> <p>[I’m short liquidity, long shame]<br /> </p> Die liquidity, die!!!!!

[I’m short liquidity, long shame]

]]> By: Methinks http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13779 Methinks Fri, 19 Sep 2008 21:05:13 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13779 <p>You didn't finish the story, Morganovich. After the Pakistani market fell another 25% from post restriction levels, the stock exchange was attacked and vandalized by an angry mob. At this point, I wouldn't be at all surprised if that happened here - and I expect Johnny Mack to be the ringleader. Incidentally, Bess is a big hit. Everyone I sent her rant to instantly fell in love and are eagerly awaiting another one. I'm hoping you will hook us up if she strikes again.</p> <p><br /> Two entirely unsurprising things happened today. First, companies got in line to whine and beg to be added to the short ban list. In response, the SEC announced that we are to expect the list to grow over the weekend. Second, the restrictions on the options market makers and stock market makers were removed today because the predictable happened - spreads got so wide, you could drive a truck through them. Liquidity was sucked out of the market and transactions costs increased while transparency decreased. Apparently, the answer to solving a financial crisis born of an illiquid, opaque market is to find a liquid, transparent financial market and kill it.</p> You didn’t finish the story, Morganovich. After the Pakistani market fell another 25% from post restriction levels, the stock exchange was attacked and vandalized by an angry mob. At this point, I wouldn’t be at all surprised if that happened here – and I expect Johnny Mack to be the ringleader. Incidentally, Bess is a big hit. Everyone I sent her rant to instantly fell in love and are eagerly awaiting another one. I’m hoping you will hook us up if she strikes again.

Two entirely unsurprising things happened today. First, companies got in line to whine and beg to be added to the short ban list. In response, the SEC announced that we are to expect the list to grow over the weekend. Second, the restrictions on the options market makers and stock market makers were removed today because the predictable happened – spreads got so wide, you could drive a truck through them. Liquidity was sucked out of the market and transactions costs increased while transparency decreased. Apparently, the answer to solving a financial crisis born of an illiquid, opaque market is to find a liquid, transparent financial market and kill it.

]]> By: Richard http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13778 Richard Fri, 19 Sep 2008 21:04:47 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13778 <p>Interesting that irrationally exuberant "animal spirits" in the real estate market were just fine with Morgan Stanley and Goldman Sachs when they were increasing leverage and spinning off billions in annual bonuses, but now that they claim market emotion is pessimistic the government must intervene to put an end to it! Regulatory bias?</p> Interesting that irrationally exuberant “animal spirits” in the real estate market were just fine with Morgan Stanley and Goldman Sachs when they were increasing leverage and spinning off billions in annual bonuses, but now that they claim market emotion is pessimistic the government must intervene to put an end to it! Regulatory bias?

]]> By: morganovich http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13777 morganovich Fri, 19 Sep 2008 18:24:59 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13777 <p>the peoples republic of down jones has once more trounced the reactionary running dog short sellers! rejoice comrades!</p> <p>for an excellent object lesson in how little such curbs accomplish, take a look at pakistan. they banned short selling, caused a 3 day market spike, and then watched the market drop another 25% from pre-restriction levels over the next couple of months.</p> <p>not only are short selling bans horrible re distributors of wealth, but they are also almost certainly ineffective.</p> <p>nice work.</p> the peoples republic of down jones has once more trounced the reactionary running dog short sellers! rejoice comrades!

for an excellent object lesson in how little such curbs accomplish, take a look at pakistan. they banned short selling, caused a 3 day market spike, and then watched the market drop another 25% from pre-restriction levels over the next couple of months.

not only are short selling bans horrible re distributors of wealth, but they are also almost certainly ineffective.

nice work.

]]> By: ErikTheRed http://www.coyoteblog.com/coyote_blog/2008/09/cargo-cult-regu.html/comment-page-1#comment-13776 ErikTheRed Fri, 19 Sep 2008 15:46:08 +0000 http://coyote-blog.com/wordpress/2008/09/cargo-cult-regu.html#comment-13776 <p>I think that calling this "cargo cult regulation" is unfair to Cargo Cultists. It's a deliberate and cynical attempt to scapegoat a certain class of investors who had the foresight and <i>temerity</i> to profit off of bad news. Damn those investors for being smarter and ballsier than us politicians!<br /> </p> I think that calling this “cargo cult regulation” is unfair to Cargo Cultists. It’s a deliberate and cynical attempt to scapegoat a certain class of investors who had the foresight and temerity to profit off of bad news. Damn those investors for being smarter and ballsier than us politicians!

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