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Stephen Boyle

Occupy Wall Street and the media: Talking about a revolution | The Economist - 0 views

  • For most journalists, accustomed to clear leaders and talking points, this makes the movement a slippery and exasperating subject. The flip side is that from the activists’ point of view, as one of the writers in “Occupying Wall Street” puts it, “mainstream coverage of Occupy Wall Street has been a fickle, ornery beast,” alternating between indifference and obsession.
  • The theoretical principles of the movement, total horizontality and openness, run counter to what seems to make effective media
  • For potential sympathisers, a coherent, collective story may be easier to grasp than lots of personal ones.
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    The theoretical principles of the movement, total horizontality and openness, run counter to what seems to make effective media
Stephen Boyle

The American Book Association Joins Amazon Boycott - 0 views

  • The American Booksellers Association (ABA) is the latest body to join the slew of retailers Stateside boycotting books from Amazon’s publishing division.
  • Barnes & Noble Our decision is based on Amazon’s continued push for exclusivity with publishers, agents and the authors they represent. These exclusives have prohibited us from offering certain eBooks to our customers.
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    The ABA is the USA's national not-for-profit trade association. They promote the interests of independent bookstores of all sizes.
Stephen Boyle

Jesse's Café Américain: Critical Mass: The Mispricing of Derivatives Risk And... - 0 views

  • In 2002 Warren Buffett famously referred to derivatives as 'financial weapons of mass destruction.' But beyond that headline, few in the media took the time to actually communicate what Buffett was really saying, and the risks that the unregulated derivatives markets posed to the banking system.
  • It would have been more effective to have nationalized the banks and cut the risk out at the source, but the new president Obama was badly advised to say the least, by advisors he himself appointed, who were in fact long time insiders in the creation of the risk situation itself.
  • In the case of the 2008-9 crisis, Bush-Obama failed to dictate terms, and essentially allowed the banks to do whatever they wished to keep going without reforming the system, taking huge sums of money and paying off their bets while maintaining their bonuses and most of their positions. And this was a monumental political failure indeed, and history will probably not be kind.
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  • it appears that the money in derivatives was too good for even Mr. Warren Buffett to pass up. Berkshire Profit Falls 30% On Insurance, Derivatives.
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    Understaning financial market derivatives and how they undermined the banking world.
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