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There is a second reason that the hands-off approach has been shown to be wanting. During the past few years, a significant part of liquidity and credit creation has occurred outside the banking system. Hedge funds and special conduits have been borrowing short and lending long and, as a result, have created credit and liquidity on a massive scale. As long as this liquidity creation was not affecting banks, it was not a source of concern for the central bank. However, banks were heavily implicated. Thus, the central bank was implicitly extending its liquidity insurance to institutions outside the regulatory framework. It is unreasonable for a central bank to insure activities of agents over which it has no super­vision, just as it would be unreasonable for an insurance company selling fire insurance not to check whether the insured persons take sufficient precautions against the outbreak of fire.

You can hear the change in what prominent would-be centrists are saying. In the 1990s, when neoliberalism was the centre, the line was: we must slash middle-class entitlements in order to be more competitive in the global free market. Now the line is: in order to save free-market globalism from populists preying on middle-class economic anxieties, we must expand the middle-class welfare state.The winners – at least for now – are welfare state liberals such as old-fashioned New Dealers in the US and their equivalents in other countries. The position of the original “third way” of 1932-68 always made sense. Middle-class social insurance programmes, by guaranteeing economic security, reduce the appeal of populism, socialism and other kinds of ­radical statism, and make possible broad political support for open and competitive national and global markets. You will hear much more of this line as politicians rush to occupy the new centre in the years ahead.

it should be apparent to all of us that sometimes senior executives, including the chairman, do not fully understand the businesses in which the company is involved. The financial instruments now causing such turmoil were not properly priced for their inherent risk and managers were unaware of the integral problems with these instruments. Much of this was made possible by the advanced technology used to devise and distribute these instruments.

« Previous post Next post » November 22 2007 The Secret Strategies Behind Many “Viral” Videos Dan Ackerman Greenberg 443 comments » Update: Dan has a follow up to this post, here. This guest post was written by Dan Ackerman Greenberg, co-founder of viral video marketing company The Comotion Group and lead TA for the Stanford Facebook Class. Dan will graduate from the Stanford Management Science & Engineering Masters program in June. Have you ever watched a video with 100,000 views on YouTube and thought to yourself: “How the hell did that video get so many views?” Chances are pretty good that this didn’t happen naturally, but rather that some company worked hard to make it happen – some company like mine. When most people talk about “viral videos,” they’re usually referring to videos like Miss Teen South Carolina, Smirnoff’s Tea Partay music video, the Sony Bravia ads, Soulja Boy - videos that have traveled all around the internet and been posted on YouTube, MySpace, Google Video, Facebook, Digg, blogs, etc. - videos with millions and millions of views. Over the past year, I have run clandestine marketing campaigns meant to ensure that promotional videos become truly viral, as these examples have become in the extreme. In this post, I will share some of the techniques I use to do my job: to get at least 100,000 people to watch my clients’ “viral” videos.

Thou Shalt Find It Impossible to Live Like the Bible Tells You to By Anneli Rufus, AlterNet. Posted November 17, 2007. Author A.J. Jacobs spent a year trying to follow the 600+ laws he found proscribed in the Bible, and concluded he's doomed to live in sin. Tools EMAIL PRINT 84 COMMENTS The Year of Living Biblically by A.J. Jacobs (Simon & Schuster, 2007) Share and save this post: Also in Rights and Liberties Indicted! Barry Bonds Is a Perfect Distraction from Real Events Dave Zirin Striking Nurses in W. Va are Met With Intimidation, Harassment and Car Fires! Richard Negri Hillary Auditions to Be a Feminist John Wayne Susan Faludi Democracy Belongs in the Workplace, Not Just in the Voting Booth Omar Freilla Gay? U.S. House Says That's Okay Deb Price More stories by Anneli Rufus Rights and Liberties RSS Feed Main AlterNet RSS Feed Get AlterNet in your mailbox!   Advertisement border-style: solid; border-color: rgb(216, 216, 216); border-width: 0pt 1px 1px; p

#1Thou Shalt Find It Impo >

Wow. Tony, thanks so much for taking the time to comment on my post!! I didn’t say so in the original posy but wanted to comment on the stones it took to pen an article that flies so much in the face of “revolutionary orthodoxy”. I agree with you that the situation of the republished articles is different from a straight up barter in as much as a barter arraignment is usually (always?) entered consciously. What you described in “Scarcity” is more of an “accidental” value transaction and so more difficult to quantify.

"Such conditionality gives rise to a material uncertainty related to events or conditions, which may cast significant doubt on the group's ability to continue as a going concern," Paragon said. Scaling back Paragon's comments came as it reported record profits of £91m for the year to the end of September, up nearly 10% on the previous year.

According to the accounts, the strategy for Telegraph Media Group is to make "news and comment under the Telegraph brand available to readers, listeners and viewers in the format most convenient to them". Those plans are "underpinned by the values of honesty, integrity and accuracy that are inherent in the Telegraph brand".

L'alliance des people et des capuches

A. Finkielkraut. - J'ai gardé de très beaux souvenirs de Mai-68 : les rues libérées des voitures, la présence électrisante des femmes dans les manifestations, la décrispation de la sexualité. Mais cette émancipation s'est accompagnée d'une attaque généralisée - dont nous payons encore le prix aujourd'hui - contre la bienséance. Pour preuve cette phrase récente de Daniel Cohn-Bendit : «Ségolène Royal est une soixante-huitarde. Elle dit : «Quand je me fais chier, je m'en vais.»» En ce sens-là, je ne suis plus soixante-huitard. Moi, je ne «me fais jamais chier», je m'ennuie parfois, c'est déjà assez éprouvant. Et quand je m'ennuie, par courtoisie, par égard, j'essaie de prendre mon mal en patience... 68 a voulu supprimer la honte. Eh bien, la honte, c'est la prise de conscience d'autrui. Et son absence, c'est le triomphe de la muflerie.

Michel Foucault l'a très bien dit, à ce moment-là, dans vos colonnes : «Jusqu'à présent on se demandait si la révolution était possible. Aujourd'hui la question, c'est : est-elle désirable ? Et la réponse, c'est non »...

A hi-tech eco-friendly office on common land in the east of Europe. Together the office community is drawn together to discuss the recent problems and issues besetting the community. They have all worked during the day and the weather is cool and bright as it is nearing the end of the year. They sit around waiting for the start of the meeting.