ATM Moron:

BOULDER, Colo. – Authorities say a man in Colorado apparently tried to steal an ATM by hauling it away with a truck.

The plan didn’t work. The alleged attempted theft of the free-standing, outdoor ATM in Boulder set off an alarm early Wednesday morning. When police arrived they found the ATM on its side about 15 feet from its foundation outside a Chase Bank. No money had been taken.

Surveillance photos show a man hooking the ATM’s chain to the back of a U-Haul truck. The truck, which had been reported as stolen, was discovered a short distance away later that day.

 http://news.yahoo.com/s/ap/20091127/ap_on_fe_st/us_odd_atm_u_haul;_ylt=Ank4GEZQ90maIZdnTmVuh6ntiBIF;_ylu=X3oDMTJpZm1ubjI0BGFzc2V0A2FwLzIwMDkxMTI3L3VzX29kZF9hdG1fdV9oYXVsBGNwb3MDMQRwb3MDMQRzZWMDeW5fdG9wX3N0b3J5BHNsawNtYW5hcHBhcmVudGw

WARWICK, R.I. – Police say a 17-year-old Warwick boy who skipped school to rob a bank has been arrested after leaving fingerprints on the threatening note he passed to the teller. Warwick police Capt. Sean Collins said the boy handed a note riddled with misspellings to a teller Thursday, demanding money or “everyone will be shot.”

The teller at Coastway Community Bank gave the teen money, but he didn’t have much time to spend it.

Police said his image was captured on surveillance cameras, and his fingerprints were found on the note.

Police said the teen was arrested six hours after the alleged theft and faces a first degree robbery charge. The teen, whom police declined to identify because he’s a juvenile, was being held at the Rhode Island Training School.

http://news.yahoo.com/s/ap/20091124/ap_on_fe_st/us_odd_truant_robber

As we metabolize our way through the annual tryptophan haze, two contributions on a theme that’s been raised here before (c.f., for example,  here, here, and most fundamentally, here), two video commentaries on the current state of economic play…

First, via the ever-insightful Calculated Risk, a piece from the Versus Holiday Songbook:

And (on a very different note, but to the same end), via MonkeyBusinessBlog, a “soliloquy” from Wallstreetpro2 (alert:  after you get past the first few seconds– which are devoted to a pitch for precious metals– this video is, by reason of sustained use of profanity, not even nearly “suitable for work”… but then, it’s a holiday; we’re not at work):

While it’s easy to quibble with a detail here or there, and to fault the not-so-veiled xenophobia in the latter, it’s hard to dismiss the through-line.   But that it’s a problem of a scale befitting both the cynical nostalgia and the epic anger?  Quod erat demonstrandum.

So, what to do?

Increasingly, wise and experienced observers are arguing that financial institutions central to the economic infrastructure– banks, some insurance companies, a few huge employers (like GM and Chrysler)… any institution that government(s) can’t permit to crash– must not be allowed to become (or, in our current situation, to remain) “too big to fail.” Former IMF Chief Economist and MIT Professor Simon Johnson, Nobel Laureate Joesph Stiglitz (see also Bloomberg video here), former Federal Reserve Chairman Paul Volcker– all warn against letting institutions grow so large that they cannot be allowed to die.

Why?  Far from reducing the appetite for the kind of risky behavior that drove us into our current trough, the effective guarantee of a government bailout removes all moral hazard; if the truly-huge get to keep their winnings, but have their losses covered, why not take more and more risk?  And since the bankers and the markets all know that the guarantee is in place, the gargantuan incumbents enjoy a cost advantage– they can (as the first video reminds us) raise money more cheaply than their competitors (after all, there’s no risk)– money that they have used not to restore the flow of credit, but to acquire even more scale through acquisitions, to fund extraordinarily profitable proprietary trading…  and of course, to pay those infamous bonuses (and here).  All, while these behemoths raise their fees to their customers (see here, here, and here, for instance).

For my part, I agree– I hope that efforts like those of Vermont Senator Bernie Sanders bear some fruit.

But I fear that they neither go far enough to address inherent risk and the attendant issues of fairness, nor get at what is, at the core of our troubles, an extraordinary opportunity for growth…  and after all, a crisis is a terrible thing to waste.  More on that shortly…

Just a year after the global downturn  derailed  Dubai’s explosive growth, the  city is now  so  swamped  in  debt that  it’s  asking  for a  six-month  reprieve  on  paying  its bills.

Dubai Debt Fears Grip World Markets

This has cast a shadow on a world only just emerging from the worst economic crisis since the 1930s,  knocking markets  from Sydney to Sao Paulo and raising questions about Dubai’s reputation  as a magnet for international investment.

For India, which has tens of thousands of its citizens living  and working in the emirate,  the concerns are more direct:  thousands of its expats staring at job losses and  the economy, sharply reduced trade.

India, which gets nearly a quarter of the remittances from the United Arab Emirates and  has lakhs of laborers working in the region, could be worse off than most other nations  if the crisis escalates into a full-blown one  like the Russian or Argentinean crises of the past.

India’s exports to the UAE stood at $23.92 billion in FY09.

It is very likely that we may see one more leg of job losses in Dubai.

The only consolation for the region is that Abu Dhabi is booming.

Indian shares and the rupee fell in sync with other global markets where investors are fleeing for safety after Dubai debt trap concerns.

The Bombay Stock Exchange benchmark Sensex on Friday tumbled over 451.63 points to 16,403.30 points in the first ten minutes of trading on hectic selling by funds in line with weak global cues and concerns over Dubai’s debt.

Similarly, the wide-based National Stock Exchange index Nifty dropped by 140.50 points to 4865.05 points.

Brokers said the selling focus was more on banking and realty stocks after Dubai’s debt problems revived concerns about the global financial system and rattled markets across Europe and Asia.

Indian rupee fell 24 paisa to 46.55 against the dollar.  The MSCI Emerging Markets Index lost 1.4%.

Most European indices were about 2% lower after Asia tumbled.

The Shanghai Composite Index slumped 3.6%, its biggest drop since August, and Brazil’s Bovespa Index slipped 1.1%. U.S. markets were closed for the Thanksgiving holiday.

Credit-default swaps tied to debt sold by Dubai rose as much as 131 basis points to 571.

“Dubai isn’t doing risk appetite any favours at all and the markets remain in a vulnerable state of mind,” said Market analysts.

“We’re still in an environment where we’re vulnerable to financial shocks of any sort and this is one of those.”

Author: Joseph Kenny
Source: isnare.com

Financial institutions are located all around the world. If you are looking to open a bank account, whether that bank account is a checking account or a savings account, you have a number of banking options. In fact, you have so many options that choosing the right bank may seem like an, orchardbank.com, overwhelming process. To make that process easier, you will need to know what to look for in a bank.

Location is the key to many. If you are interested in having easy access to a bank, you may want to consider doing business with a local bank or a national bank that has a local office, orchardbank.

com, in your area. These banks are ideal for those with checking accounts or debit cards. You may find that using an ATM machine, other than the one provided at your bank, results in extra fees. This is one of the many reasons why banking with a local institution is popular, because you will have easy access to your money.

When finding the perfect bank, orchardbank.com, for you to do business with, it is also important to determine what you want and need from a bank. Whether you are interested in opening a savings account or a checking account, it is important to examine the fees that each bank will charge.

If you are interested in opening a savings account for someone under the age of eighteen, you may find that you are able to receive a free account. Adults, on the other hand, are often required to pay a monthly fee or maintain a certain balance in their account.

If you are interested in opening a checking account, there are also a number of fees that you should be on the lookout for. It is possible to obtain a free checking account, but many of these accounts come with specific requirements. You are likely to come across a number of financial institutions that require you to have a set amount of money in your account at all times.

It is also possible to find banks that grant you free checking as long as you have your paychecks directly deposited into your account.

There are a large number of banks that will allow you to carry a debit card. These debit cards can, orchardbank.com, often be linked directly to a savings account or a checking account. It is important to determine if you will be charged for obtaining a debit card. Many banks charge an upfront fee, typically less than five dollars, for requesting a debit card.

A number of banks also change monthly fees for using a debit card. The same can be said for checks. In addition to paying for new checks, there, orchardbank.com, are many financial institutions that charge their clients a set amount of money each time they want to write a check.

It is important to keep all of the above mentioned points in mind when searching for a bank. In addition to determining the cost of banking with a specific institution, you are also encouraged to examine the level of service that you will receive.

You will want to do business with a bank that has a friendly and knowledgeable staff. By visiting the bank or calling to speak with an employee, you can easily determine the level of service that you should expect to receive.

Choosing a bank is not a decision that should be made on a whim. A bank is supposed to save you money, but without the proper amount of research it is possible to end up with one that costs you money.

INVESTORS BUY GOLD WHEN THERE is inflation and when there is a flight to quality. They buy gold when they no longer trust currencies, due to government or central bank profligacy. Due to those and other reasons gold has broken out to new highs. It could well be that gold may never see $1,000 again. Long ago the world’s central banks set the course for a planned collapse of the world economy to implement world government and there is now no turning back.

We have proof stretching back to 1965 that intervention by the Treasury and the Fed was taking place in the gold market. The illegal sale of gold on 10/19/87 was a good example of that. Then came the FOMC memos of the 1980s and 1990s to kill the perception that gold be allowed to reflect a policy of a weak dollar unbacked by gold. It is all there and probably more proof which our government and the Fed hides from us. We have to laugh at the smug who say why would the Treasury bother to rig the gold price? The point is they have and they are still doing it.

The perception now is that the massive stimulus put into international markets, especially US markets, will be withdrawn as interest rates are allowed to float upward. This stimulus was responsible for the stock market climbing from Dow 6600 to 10,500, a 60% leap built on monetization. If the punch bowl is removed the market will return to test 6600. In addition, the deflationary undertow kept at bay by the stimulus, will overcome monetary policy and the nation and the world will slip into monetary, deflationary depression.

The Fed is now forced to allow gold to trade higher and the dollar to fall lower. What else would one expect under current monetary circumstances? This policy will allow both gold and the dollar to play out to their full extent. The Fed’s job has been very difficult considering a fiscal budget deficit of $1.5 trillion not counting off budget items that take it over $2 trillion – a condition we are told that will persist for the next ten years. The solution has been the creation of ever more money and credit. There has been no cooperation. Nothing has worked together. All the problems have gone spinning off into a number of directions. There is no control on fiscal or monetary policy. What the players refuse to understand is that until the system is purged the situation is only going to get worse. There is no recovery. It is only an interlude in an ongoing depression.

The result will be gold at $2,500 by the end of 2010, and perhaps much sooner. The buyers know what we know. Real inflation since 1980 dictates $6,700 to $7,200 gold. Even official inflation demands a $2,400 price. In both instances how much inflation will 2010 bring? We are projecting 14% real inflation and government and the Fed keep telling us inflation is 1.2%. Our figures show 6-1/8%. In addition the fundamentals show us that gold production has been in shortfall to usage by 150 or more tons for years and that situation will worsen over the next ten years. Yes, we have hit peak gold. Interest rates rises won’t come for at least a year, if ever, and 5% growth in aggregates is in the realm of wishful thinking. Less gold is currently produced annually than in 1980 and there are trillions more dollars sloshing about the world financial system, a good part of it for speculative purposes.

Without changes in monetary and fiscal policies, gold and silver prices will just keep rising. The further our government, via Goldman Sacks, JPMorgan Chase, HSBC and Citigroup, short gold and silver and the shares, the greater price appreciation will be in the future as they ultimately will have to cover their shorts. We are at the confluence of big things happening. The fiscal debt overhand is so onerous that a ¾% rise in interest rates would mean the Fed would have to monetize another $150 billion and a 5% increase in interest rates would increase debt service interest by $600 billion additional dollars.

Yes, gold could reach $3,000 in 2010 and 2011 could bring another doubling as a result of the Fed and government just continuing what they are doing. Will inflation reach 25% or 30% in 2011? We don’t know, but as we reflect on what the Fed has been doing we say that possibility certainly exists. Could that mean $11,000 gold? Perhaps it does, we won’t know until we get there.

Even if inflation abated in 2011 or 2012 and a deflationary depression took command, gold would still be the go to investment. That is because for 6,000 years it has been the only currency that has owed no one anything. Would you really be ready to trade it for a fiat currency? We don’t think so. All bond markets as well as stock markets would have collapsed with the exception of gold and silver shares. Just look at the 1930s and see the gains Homestake had, if you don’t think gold stocks can make fortunes during a depression. Gold and silver are the investments for all seasons as long as you have patience. The banking system may collapse. What better to use than gold and silver coins for barter.

This past year we have seen lending by banks fall 16.2% y-o-y or by $600 billion. Just double that figure and you are in depression. Can you imagine what it will be like with little or no lending? Unemployment is 22.2%. Under such conditions the unemployed could be 35% or more. What do we do, let the Illuminati create another world war to cover up their machinations? The dollar is already falling and probably will eventually collapse. Could it be 1-1/2 to 2-1/2 years from now that there will be an official 2/3’s devaluation? The exchange of three old dollars for one new dollar and a 2/3’s default on all debt by all nations with one another and the revaluation and devaluation of all currencies followed by a new international trading unit made up of the top G-20 currencies weighted in an index. That is certainly plausible as the dollar ceases to be the international reserve currency.

These events could push residential and commercial values down 75% or more from their highs. All investments except gold and silver could fall 60% to 95% as they did during the 1930s. The Fed won’t be able to cut interest rates, which will already be at zero. Demand for capital will force real rates higher and bonds lower. All issuers of consumer debt will most likely go broke, as 50% of debtors won’t be able to service their debt.

Real nasty times are just around the corner and nothing can be done to prevent them. The system must be purged. More major layoffs are on the way, real wages will fall and taxes will rise. The Dow will settle somewhere between 1,500 and 4,200. We won’t know where until we get a lot closer. Companies have maintained the bottom line by firing people, offshoring and outsourcing and using illegal aliens. That method of cutting costs is approaching a threshold of diminishing returns.

The next big wave of layoffs will be municipal in towns, cities, counties and states that no longer have the reserve to pay employees. Some states, such as Florida has no funds to pay for unemployment benefits and were it not for the stimulus plan they would have stopped issuing checks a year ago. At this rate in many states municipalities will cease to function and schools, fire and police will be disbanded. That is where this is all headed. Americans have to be told the truth about what is really going on and who and what caused it and how we can fix it.

There is no question in our minds that the Fed will monetize and inflate until they cannot anymore. We see no end to increasing deficit spending. That first will perhaps bring about an Argentinean economy and if we do not come to terms with reality than it is Weimarization or Zimbabweization. When this happens everything will be out of control. Who knows where gold and silver will go, but everyone will want them. You had best make preparations now or you will be very sorry you didn’t. Remember, he who holds the gold makes the rules.

The holidays are around the corner and advertisements are now seen and heard everywhere – on radios, TV and online. Therefore, I decided to discuss about advertisements and marketing in North America. Yes, in North America, I noticed that the advertisements are not the same as what I grew up with. The ads here are intended to scare people into action. So, here is my rant about advertisements from my point of view.

Ethiopian Ads
Growing up in Ethiopia, I really enjoyed watching advertisements on TV. For instance, I remember a Pepsi commercial featuring Pele, the greatest soccer player of all time. We would watch the slow motion kick of Pele and how he enjoyed drinking Pepsi after the game. I and all my friends consumed so many bottles of Pepsi during our teens, just to imitate Pele. Yes, the ad worked for Pepsi. It was innocent – kids and grown ups fell for it.

Radio Talk Shows
The scary thing is, it seems that many people are unable or unwilling to draw the distinction between entertainment and information, and for them talk radio shows become less about entertainment and more about providing them insight. The type of insight which is based upon rumor, falsehoods, distortions and flat out lies. The type of insight which makes me question the true intelligence of the common man. The type of insight, which reaffirms my belief that the ignorant and the uneducated are easily influenced by those who are adept at preying upon fear.

I admit that if I’m near a radio, I will sometimes tune to talk radio to be entertained … but that is where it stops. I admit and recognize that talk radio exists for one true purpose, and that purpose is to entertain rather than inform. If you want to be informed you can listen to the news, if you want to be entertained (and you aren’t particularly interested in sports), you have talk radio.

On talk radio shows, you can hear how they believe one political party is the source of all that is evil and how if you don’t vote for the other party your children and grandchildren will be those that suffer. Time after time, after time, if you toss aside all of the fluff and excess, when you objectively look at any given subject you will find the basis is nothing other than fear. The pundits know if they can scare the listener, that listener will keep coming back for more.

Fear, Fear and Fear
Because when you really boil it all down, that is what it is all about … fear. You can listen to the programs themselves and hear about how a certain disease (say H1N1) or a specific government program are going to ruin our way of life.

Nowhere is this concept more obvious than the one time you would expect the theme of fear to be absent. I’m talking about the commercial breaks in between segments, and if you take some time to actually listen, you will soon discover that the advertisers have found a niche market, and that niche involves the concept of fear.

Millions upon millions of dollars in advertising are spent every year, and it is very obvious that those marketing firms know the true demographic listening to talk radio at any given point is one built upon fear – thus they cater to, and profit from, that demographic.

Don’t believe me? Take a look at the list below of some of the advertisements presented during the commercial breaks of talk radio shows and TV programs.

• Alarm Force – appealing to the fear of burglary or home invasion.

• Tax Planning – appeals to the fear of Revenue Canada “stealing” money or leaving a person destitute.

• Various Gold Investing Firms – preying upon the loss of net worth in the stock market and retirement plans. Also suggests the apocalyptic scenario where paper money holds no value.

• Law Firms specializing in Personal Injury Lawsuits – Appeals to the fear that surviving family members might not be taken care of in the case of severe disability or *gasp* death. Also appeals the desire to hold someone or something else accountable for anything bad which might happen in one’s life.

• Life Insurance – again this appeals to the fear that loved ones won’t be financially secure if the primary bread winner is no longer around to provide.

• Carbonite Online Backup Software – appeals to the fear that a computer will crash resulting in the loss of financial data, vital documents, or irreplaceable files, photos etc.; encouraging people to sign up for their services.

• Medications – appeals to the fear that health problems (namely cancer) will end a life prematurely.

• Debt Management and Debt Collections services – appeals to the fear that ‘evil’ corporations will take all of a persons earnings leaving them with nothing.

• Legal Will – appeals to the fear that a person will die without a proper will or living trust being established. Also appeals to the fear the government will seize assets leaving surviving family members with nothing.

• Performance Enhancers for Men – making older men fear that they won`t be able to do it when the time is ready for action

• Financial Institutions – scaring people by saying … “in this economy” … in every sentence

So, as you can see, between disaster coverage, legal services, and various forms of self protection services, all of these products have one thing in common. They all appeal to some level of fear.

Now, if this were only a small percentage of the ads or if I cherry picked these ads over a period of two or three months, it might not be all that indicative of a larger issue, but the fact is every single one of these advertisements were heard within 90 minutes of talk radio. Not 90 days, not 90 hours – but 90 minutes. On other days, you might be able to hear the same ads or slight variations of them time and time again, and there were very few other ads that weren’t based in some way upon fear.

On the radio, I never heard a commercial about cleaning products, toothpaste, tea, coffee, gasoline or shampoo.

Conclusion
Time and time again, day after day, the vast majority of ads I ever hear pertain to fear, and the only logical conclusion that can be reached is that advertisers know the target core demographic that tunes into talk radio on a daily basis is scared. They might be scared about their finances or scared about their health or scared about the government, about home security, or maybe just scared about common sense or logic – but in some way these people are scared.

So, if the advertisers know it, doesn’t it make sense that the talk radio hosts know it as well? Don’t kid yourself – they know it, they count on it, and they prey upon it… that much is certain. So, maybe the next time you hear someone quote something direct from the mouth of a talk radio host, you should ask yourself … what are they afraid of?

Yes, I now think that you agree with me that fear sells!

My next blog entry will be on Thursday December 03, 2009.

Mullkam Samint!

Please feel free to participate with your comments here…above

Advantage zyaada

Article Source: http://EzineArticles.com/?expert=Peter_Macfarlane

the whole of thursday was spent somewhat lazily. not that i was not using my time well, i just didn’t study because i had A DAY OFF! *beams* spent time with my mummy the whole day. got picked up from hall, where i stashed some clothes into her car so as to start the “moving back” for the holidays. then we went to Wessex Village near one-north to find this little cafe that’s supposedly to have really good reviews called “Colbar”. unfortunately, it seems that westerners don’t really have good taste for cafe food. i think the food was quite horrid. or maybe it was because we were the first customers for the day? hopefully if i ever go back, they’ll cook something to save their name.

then went down to hollandV to get some banking issues settled. not really optimistic about certain things right now because there’s not many good deals. hah. but at least that’s one thing off my mind for now. and we bought a christmas tree! (: yeyness. christmas is coming already. seems so soon. sighs. it’s gonna be december in a couple of days and the year’s gonna end. time flies so fast, and that’s just an understatement. had a little lunch at crystal jade’s la mian xiao long bao. did a little more shopping for other random things, ate some traditional dessert and then got sent back to hall.

upon return, i bathed, facebooked somewhat and then fell asleep till about 12mn. hah. and now, it’s a new day at 2:35am. sighs. i’m gonna finish two lectures and then get some rest. wake up at 12nn and continue trying to study. as you can see, the day was what i called relaxing, because I FINALLY GOT OUT OF CAMPUS GROUNDS! like, finally. it’s torturous staying here all week long, but i need to study and this is the most conducive place to do so.

and the whole thing that really made my day was that when i started the day, I SAW HIM! but i pretended not to. but just seeing him made me really happy because i thought that i wouldn’t get to do so until like zomg, next year? i wish the two people in the picture were me and him, lazing together on the beach. hah. but that’s about all i’m gonna be happy for right now. because i still have two more papers and one facilitation camp to go.

& then it’s Phuket and holidays for the rest of the “winter” break! <3
plus, CHRISTMAS is coming and i can’t wait! present shopping time!
i wonder why christmas is associated with red & green though…

http://reason.com/blog/2009/10/16/die-bank-of-america-die

This Thanksgiving morning and for the rest of the week for that matter I had intended to post nothing on this blog. However, I had one of those “looks like more than a mere coincidence” moments as I cracked open some of my usual morning news:

http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/6660618/More-than-1000-bankers-in-the-City-earn-over-1m-a-year-Sir-David-Walker-says.html

More than 1,000 workers in the City [London] earn over £1m a year, Sir David Walker said as he published a review that will force banks to disclose how many of their staff are on such pay.

He said that forcing financial institutions to publish the salary and bonuses of top earners would enable investors – the ultimate owners of a business – to raise questions about why remuneration is so high.
….
The report, and the Government’s swift endorsement, will alarm the City where there has already been a barrage of complaints that Sir David’s original proposals on pay were too strict and would prompt an exodus of talent from investment banks to smaller firms.

Chancellor Alistair Darling said in a statement: “Sir David’s proposals are the blueprint for how banks must be run in the future… The Government strongly supports his recommendations and will take steps to implement them as soon as possible.”

Sir David’s review was commissioned by the Government in February to explore failures of corporate governance and management of banks and other financial firms. The draft version in July proposed 39 recommendations, most of which have been retained in the final draft. However, as well as the changes to the pay proposals, Sir David’s final review has sprung a surprise on boards with the suggestion that they put all the directors up for annual election, as well as the chairman.

In addition, Sir David has remained firm on his proposals to impose tougher demands on bank shareholders designed to make them more accountable owners.
….
Similarly, the recommendation that the regulator should quiz investors who sell big stakes in the banks has also been ditched. It was criticised as being beyond the remit of the Financial Services Authority.

Other proposals include the appointment of a powerful Chief Risk Officer to the board of all banks.

There is an American version of this story as well:

The report from David Walker, former chairman of Morgan Stanley International, also proposed other measures to rein in risky activities at banks. It recommended strengthening the role of non-executives to give them new responsibilities to assess risk and payment and said active investors should sign up for stewardship duty so that they can play a more active role as owners of businesses.

“Institutional investors should be less passive and prepared to engage earlier if they suspect weaknesses in governance,” Walker said in the report. “Early preventive medicine through shareholder engagement can save everyone substantial time and money later on.”

So what has happened on the British market this morning? Just another badly timed coincidence?:

http://www.telegraph.co.uk/finance/markets/6660832/Technical-glitch-halts-share-trading-on-London-Stock-Exchange.html

Share trading on the London Stock Exchange has been halted by technical difficulties, a spokesman for the bourse operator said on Thursday.

As a result, all order-driven securities were placed in an auction call period at 1038 GMT, with all share prices currently to be considered indicative, he added.

The FTSE 100 index was frozen at 5,264.97, down 99.84 points, or 1.9pc, and while the FTSE 250 value is changing, this is due to exchange rate movements rather than price changes, the LSE said in a service alert.

In addition, the distribution of all FTSE UK Series real-time index values is also affected, the bourse operator said.

The length of the auction call period has not yet been decided, however, a minimum of 30 minutes notice will be provided ahead of the scheduled uncrossing time, LSE added.

In September last year [2008] the LSE suffered its worst systems failure in eight years, causing the share market to suspend trading for about seven hours and infuriating its users.

“Trading has been inoperative for over an hour. It has also affected platforms such as Chi-X, and Project Turquoise, leaving the entire market moribund,” David Buik, senior trader at BGC Partners said.

At least the Brits didn’t immediately resort to the “Squirrels chewed through the wires” story like the Americans did back in 1994:

What gives at Nasdaq? First it was bugs of the electronic sort, then a mammal of the squirrel variety. And now securities traders are wondering just how secure things really are on the nation’s second-largest stock market.

Technical breakdowns have caused three Nasdaq trading interruptions in the last few weeks. The most recent interruption lasted 34 minutes on Monday afternoon after a squirrel chewed through an electric company’s power line and the stock exchange’s own backup power system in Trumbull, Conn., failed to kick in.

Do you think I digress? How many times do people buy this stuff? How short are their memories?

Do you still remember Fall 2008 and the run up to the banker bail-out beginning here in the USA by Oct 2008? I can’t see this as just a coincidence today and I didn’t back in Oct 2008 when “The Common Chump” was posted. It’s happening again, people, and it may be weeks before you smell what the dogs have left for you on the floor under the kitchen table.

The factions don’t take holidays. But, the dangerous question I will ask today is: Why isn’t someone at the Telegraph actively connecting these dots for the public?

AIIMS | AIIMS Result – Click Here to View

Turkey’s finance minister says there is every sign Turkey’s economy is bouncing back.

Commenting at the 2nd Gold Summit in Istanbul, Mehmet Simsek predicted the economy will recover rapidly from the global economic crisis. “There are already several indications of recovery,” he said.

“In the past one or two months, there have been strong indications in both Turkey and the rest of the world that the markets are recovering. Especially in Europe, the developments are rather positive. In Turkey, export volume is experiencing minor growth and there is an increase also in the number of new enterprises.”

The banking sector, a crucial part of economic recovery, was in a healthy state before the economic crisis and was therefore dealt a lighter blow than the banking sectors of many other countries.

Simsek said Turkey is experiencing its lowest-ever inflation rate, and its low interest rates are helping growth in loans. “I expect the economy to recover from the crisis in the near future and this recovery will be permanent because the foundations of the economy are solid.”