Back in August 2007, just as the quant funds had their first taste of what the upcoming collapse would look like and when the Fed for the first time realized that the subprime woes were “not contained” despite what Ben Bernanke had promised previously to Congress, financial comedy TV’s best known mascot, Jim Cramer had a meltdown on CNBC following Bear Stearns’ CFO admission that the fixed-income market turmoil was the worst in 22 years, ranting how the Fed “knows nothing” and how it should promptly bail out the financial system.
Little did Bear Stearns know that less than 9 months later it would no longer exist, but not before the same Jim Cramer proclaimed Bear Stearns was “fine” and is not in trouble when it was trading at $62/share. A week later the company was insolvent and was handed to JPM for a forced take-out at $2/share.
Fast forward 8 years when we just witnessed the biggest weekly market rout in 4 years and largest VIX surge in history, and when – like clockwork – the financial “experts” come crawling out demanding, you guessed it, another Fed bailout.
Here is Suze Orman, self-described as “America’s Most Trusted Personal Finance Expert” who, hilariously enough, in a Twitter conversation with none other than financial comedy’s prime mascot made it quite clear how she feels about the market rout:
| Bcachefs maintainer Kent Overstreet has recently announced that the project is now accessible to all. With various ingenious features of ZFS and Btrfs file systems, bcachef aims to provide similar performance and consistency as the consecrated EXT4 and XFS file systems. It aims to be a Copy-On-Write (COW) filesystem with caching, compression and checksumming.
“For those who haven’t kept up with bcache, the bcache codebase has been evolving/metastasizing into a full blown, general purpose posix filesystem – a modern COW filesystem with checksumming, compression, multiple devices, caching, and eventually snapshots and all kinds of other nifty features,” confirms Overstreet.
The UK’s Committee of Advertising Practice (CAP) has told video bloggers (vloggers) on YouTube et al to admit when they are getting paid to shill a product.
The CAP’s new set of guidelines gives tips for the producers and stars of video blogs on how to disclose when they have been paid or stand to gain from endorsing a product in their video entries.
The rules come following a 2014 incident in which some bloggers were paid to post videos featuring Oreo cookies without fully disclosing that they had been paid to do so, causing a stir over how advertising standards should apply to vlogs.
“The advertising rules do not cover or prohibit vloggers entering into commercial relationships and the Advertising Standards Authority (ASA) does not regulate editorial opinion,” the CAP said.
“In response to feedback from vloggers, however, we and the ASA are also reminding brands and agencies (be they advertising, digital or PR) looking to partner with vloggers of the need to be transparent.”
Editor’s Note: It appears the Kremlin has its version of Hasbara trolls who flood the internet with pro-Putin memes. Makes you wonder about the unhinged Putin worshipper Mark Glenn and the “Ugly Truth” brigade.
Over the past year, Russia has seen an unprecedented rise in the activity of “Kremlin trolls” – bloggers allegedly paid by the state to criticise Ukraine and the West on social media and post favourable comments about the leadership in Moscow.
Though the existence and even whereabouts of the alleged “cyber army” are no secret, recent media reports appear to have revealed some details of how one of the tools of Russian propaganda operates on an everyday basis.
School officials in the Tennessee county of Dickson have decided to ban all flags from being displayed on campus by students, including even the American flag, reported Scripps Media.
The controversy started earlier this summer when students began flying their own banners in response to the whole Confederate-flag fiasco. This apparently upset officials so much that they decided to ban students from displaying any flag on campus.
“It’s not an unpatriotic act by an means, because we have a number of ways in which students do learn how to be patriotic and express American pride,” Dickson County Director of Student Services Steve Sorrells said to reporters in defense of this decision.