My Fellow Americans
Archive for News Events
SEC Short Sale Ban
I saw this headline last night. I’m in the minority of people who knows what this means, but let me say, “this is ridiculous in a free market!” U.S. stock futures leap after SEC short-sale ban
U.S. stock futures pointed Friday to a second straight rally after, on the heels of a planned move to buy up bad assets from financials, the Securities and Exchange Commission imposed a temporary ban on short sales of 799 financial institutions.
“The emergency order temporarily banning short selling of financial stocks will restore equilibrium to markets. This action, which would not be necessary in a well-functioning market, is temporary in nature and part of the comprehensive set of steps being taken by the Federal Reserve, the Treasury, and the Congress.”
Let me try to put this in perspective. With short selling, I can make a bet that a stock will go down. If the stock goes down, I can make money. This is different than normal selling, because I would first have to own a stock. To short sell, I don’t have to own the stock. By temporarily banning short sales, you’re taking away people’s ability to make bets, or profit, in the event that a stock or market goes down. This is why you’re seeing the market rocket up yesterday and today.
If that’s not manipulation and interference, I don’t know what is.
UPDATE: Here’s a good Q&A I found in regards to short sellers.
Q: Do you think that short-sellers are to blame for the mess we are in?
A: No, I do not. While I think there were some hedge funds pressing their shorts and working in coordinated attack patterns to destroy some financials (very much like they do when bulls are running on the long side which, by the way, no one ever questions), the banks and brokers are ultimately to blame for becoming easy targets. If you run a solid business, make big profits, and enrich your shareholders, short-sellers have absolutely no power to take you down. That’s the way it is suppose to work in a fair market even though it clearly seems that the government thinks we are all entitled for stocks to go up no matter what.
TV Convertors
I’m sure everyone is aware that this year is the last year to get an analog signal on your television. As part of a process to improve media, any TV’s still using rabbit ears will need to get with the program; and you’ll need to get a converter box. By signing up for the Coupon Program, you can get credit towards the purchase of an eligible converter box and avoid much of the cost of the required upgrade to digital. Here’s how it works, and what you can expect from the program.
I signed up for the Coupon Program a few months ago via the official link at www.DTV2009.gov (Note that this is the only approved link at this time.) After that, I forgot all about the conversion. Today, however, I received my official “coupons” with directions for redemption. Here’s what my envelope contained:
I’ve already signed Mom up for the coupons.
Saturday Snippits
I’ve been listening to a lot of the new Mars Volta: The Bedlam in Goliath
As you know, I’m a pretty frugal individual. So, I was pleased to find this website dedicated to smart living. They post a lot of new articles per day, one of them is always a good read. Wisebread
The HD War between HD DVD and Blue-Ray is over. I’m so glad that I’m not an early adopter who jumped into this mix and could have got burned with an HD DVD player or discs.
Motivated by a Tax, Irish Spurn Plastic Bags Some places in Korea have a similar tax on bags in general. So, it’s good that I keep my backpack with me.
I like Google. But, as a whole, I’m liking free/open projects more. I think Wikia is an interesting project with some potential in the future. It also has ability to be a social website like facebook or myspace.
There are a pair of shoes online that I’d like to buy. But, I hate buying clothes online. No matter who makes the shoes or t-shirts, the conventional chart size varies from the next. A 10.5 from brand X always fits different than a 10.5 from brand Y.
Lastly, I’ve received a couple offers to return to Korea after my contract. I’m still weighing my options and opportunities. I, now, have 3 months left and a few reasons to return. But, who knows how it will go.
Time to Give to those Who Need It
This year, I’ve decided that its time that I give back to the software, the websites, and the artists that are making a difference.
So, I’ve got $20 in my paypal account that I’m going to divide amongst four services, which I use most. No, $5 isn’t much, but “A journey of ten thousand miles begins with a single step.” And, this is a first for me.
- Wikipedia – Not a day goes by that I dont check facts or read articles on Wikipedia. The site doesn’t take ads or commercial sponsors. Therefore, they need donations. Supposedly, $40 will deliver 100 million page views. $5 should cover myself and a 1000 others.
- Ubuntu – 4 years ago, I learned that Ubuntu would ship CDs of their software to anyone FOR FREE! Of course, I was all over that. I tried the software, but never took it seriously. Now, I use it as my main operating system. They still give away their software and pledge to always do so.
- Saul Williams – I’ve never purchased digital music online. My major issue is with the quality. I dont want lossy mp3s. If I buy music online, it should be the same lossless quality which you get on a CD. Saul is selling his new album for $5 at his website, and you can receive it in a lossless format. Saul takes a vocal stance against the music industry and purchasing his album eliminates the middleman.
- Fourth? – Well, I haven’t picked a fourth yet. There are many worthy causes. I feel like I should make a contribution to the Pirate Party or I should give the money to the EFF, these groups fight “legally” for online rights. I could also give the money to a smaller Linux group or lone programmer. And, there is also NPR. I dont know yet.
Can you recommend anything else?
