patrick ainge

Another fine example of organized religion  

A story in The Times of London.

Kerviel might have been a better trader than SocGen would like to admit  

The Financial Times today has an article about Jérôme Kerviel and the Société Générale scandal. Kerviel’s lawyers are claiming that SocGen is using the affair to conceal other losses.

Elisabeth Meyer and Christian Charrière-Bournazel told Agence France Presse that SocGen wanted to “raise a smokescreen that would distract the public’s attention from far more substantial losses that it had made in recent months, notably in the unbelievable subprime affair”.

They also said that the timing of the bank’s decision to close positions relating to Mr Kerviel’s trading and the manner it executed these trades “itself provoked the losses of €4.5bn”. The lawyers also claimed that Mr Kerviel’s trading was in profit to the tune of €1.5bn ($2.2bn, £1.1bn) at December 31.

Kerviel’s legal team went on to accuse Société Générale of increasing the losses by dumping Kerviel’s positions in the current declining market rather that taking time to assess the overall situation.

NYT: FISA Follies  

The NYTimes has a spot-on editorial on current FISA legislation.

Pownce invites  

Last night the invitation elves broke into my email and left me 6 more invites for pownce! Although I am a fan of inviteshare I am going to make some of them available here. Just leave a comment and I’ll get them out asap. I will update the post when they are gone. See you on pownce.

Apple Bluetooth Headset Photos  

Appleinsider has some great photos of the Apple Bluetooth Headset. Unfortunately I’m still waiting for Apple to ship mine to me. :\