Sovereign foreign debt holders to take haircuts
The United States is currently involved in complex negotiations with foreign sovereign holders of United States debt to induce them to agree to lower principal and interest. The intricate multi-party negotiations have been described as the most ambitious attempt by the government so far to address the interest portion of the US Federal deficit. While the precise details of the complex deliberations are secret, the most intriguing aspect of the negotiations to have come out is the proposal to extradite, in exchange for reduced principal and interest, bank executives considered highly criminally liable for their role in the global financial crisis.
An official who spoke on condition of anonymity and who had knowledge of the negotiations praised the effort to “outsource some of the regulatory burden” to countries “whose legal regimes differ from the US.” The official stated that the extradition agreements would lead to reduced transaction costs and improved trading relations with foreign investors.
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Cornelius Fitzedward Pope II
Christian Marks
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December 27, 2010 at 12:33 PM
I don’t know why the founder of Facebook is hailed as the man of the year for 2010. I do think that Facebook is the darling of corporate community. They hunger for your data and here is a perfect way to get it. We , the Facebook users, put it together for them. We put our age, marital status, likes, dislikes, friends, interests, demographics, and what else the marketers hunger for in a neet little package. And it will get worse. I hear features like email capibilty will be added. I am sure there will be even more features which will make the problem worse. In addition, we give it away for free and Facebooks sells if for millions.
After anemically following all types of companies vying for your Internet data, this one looks brilliant. A question we must ask ourselves is who owns the data we put out there? Is this the same thing like buying a logo stamped piece of clothing and becoming a free walking advertisement for some clothing company? Do they have the right to sell our data? Is it, we use there stuff they own it? Should they make it explicitly clear that they are going to sell it? Should we get some money back for them selling our information? Should we be able to copyright what we put up onto the Internet? Shouldn’t there be at least some law that states that they can’t identify us specifically; that we personally are protected from all this information we are putting out there?
Are we helping our corporate masters by the building the products that they will enslave us with?
Luke Lukas
December 27, 2010 at 1:40 PM