Despite being asked not to do so by Phil Lynott's mother, the Romney-Ryan campaign is still using The Boys Are Back in Town on campaign stops. Here it is yesterday in Ohio.
Wednesday, September 26, 2012
Saturday, September 22, 2012
Ground Control to Major Rom
Today we have a space program befitting a President who rejects American exceptionalism, apologizes for America, and believes we should be just another nation with a flag. We have been put on a path that cedes our global position as the unequivocal leader in space. The Russians are leading in human spaceflight right now. The Chinese may someday look down at us from the Moon.
Contemplate for a moment the juxtaposition of a document claiming that America needs the technological and scientific leadership of the world in terms of space with its motivating observation that the Chinese might "look down" on America from the Moon.
If the issue is just the Chinese looking down at us from the Moon, wouldn't it be cheaper to just send some Americans in a ship beyond the Moon to look down at them?
Photo of turtles all the way down: Wikipedia user Pelf.
Friday, September 21, 2012
A rock they don't want to lift
Reuters story says that US politics is setting the timeline on when we get the next EU/ECB/IMF report on Greece --
"The Obama administration doesn't want anything on a macroeconomic scale that is going to rock the global economy before November 6," a senior EU official told Reuters, adding that previous troika reports had also slipped ...A U.S. official said the United States had made clear to European officials that it wanted to avoid any "downside" economic surprises because of the fragile U.S. recovery, but denied that it had anything to do with the U.S. election. Several sources in Germany described those conversations with their U.S. counterparts and said the message had been that the Americans didn't want surprises before the election ... But one source said EU leaders' motives went beyond macroeconomic stability. They also had political reasons to avoid rocking the boat before the U.S. election. "As far as European leaders are concerned, they don't want Romney, so they're probably willing to do anything to help Obama's chances," said the source, an EU official involved in finding solutions to the debt crisis. The problem for Obama is that if Europe's leaders are seen, implicitly or otherwise, to be working to bolster his re-election chances, it could provide ammunition for the Romney campaign. European leaders have repeatedly been accused of acting too slowly and in a confused way to resolve the crisis, with a knock-on negative impact on the United States. If they are now seen to be allying with Obama, it could dent his popularity.
It may be true. But it's a strangely written story. From anonymous quotes to outright political speculation at the end. Nice job of the reporters buying a few pints for whoever the talkative official was.
But anyway, is it that the EU is under orders from the White House to delay this report-to-end-all-reports, or is it that they already know what's going to be in the report -- Greece needs billions more in aid -- and are looking for any excuse not to lob that political bomb into European, not American, politics?
"The Obama administration doesn't want anything on a macroeconomic scale that is going to rock the global economy before November 6," a senior EU official told Reuters, adding that previous troika reports had also slipped ...A U.S. official said the United States had made clear to European officials that it wanted to avoid any "downside" economic surprises because of the fragile U.S. recovery, but denied that it had anything to do with the U.S. election. Several sources in Germany described those conversations with their U.S. counterparts and said the message had been that the Americans didn't want surprises before the election ... But one source said EU leaders' motives went beyond macroeconomic stability. They also had political reasons to avoid rocking the boat before the U.S. election. "As far as European leaders are concerned, they don't want Romney, so they're probably willing to do anything to help Obama's chances," said the source, an EU official involved in finding solutions to the debt crisis. The problem for Obama is that if Europe's leaders are seen, implicitly or otherwise, to be working to bolster his re-election chances, it could provide ammunition for the Romney campaign. European leaders have repeatedly been accused of acting too slowly and in a confused way to resolve the crisis, with a knock-on negative impact on the United States. If they are now seen to be allying with Obama, it could dent his popularity.
It may be true. But it's a strangely written story. From anonymous quotes to outright political speculation at the end. Nice job of the reporters buying a few pints for whoever the talkative official was.
But anyway, is it that the EU is under orders from the White House to delay this report-to-end-all-reports, or is it that they already know what's going to be in the report -- Greece needs billions more in aid -- and are looking for any excuse not to lob that political bomb into European, not American, politics?
Because light touch regulation worked so well for Ireland in banking
Facebook's privacy policies are regulated outside North America by Ireland, because that's where it has its non-US operations based. With that background --
An Austrian-based group of student activists, europe-v-facebook, which has succeeded in extracting some concessions on privacy from Facebook, said the law had been waived for the tech group. "The Irish ODPC (office of data protection commissioner) says that Facebook has not fully implemented the suggestions and that further work has to be done, but there seem to be no consequences or fines for not complying with these suggestions," said the group in a statement.
An Austrian-based group of student activists, europe-v-facebook, which has succeeded in extracting some concessions on privacy from Facebook, said the law had been waived for the tech group. "The Irish ODPC (office of data protection commissioner) says that Facebook has not fully implemented the suggestions and that further work has to be done, but there seem to be no consequences or fines for not complying with these suggestions," said the group in a statement.
Sunday, September 16, 2012
We got both kinds, Jews and Christians
NBC Meet the Press host David Gregory to the aforementioned Bibi Netanyahu, in the same passage where he calls him Leader of the Jewish people --
I think this is a very important point because you say you don’t want to interfere in the election. There are tens of millions of Americans who are watching that speech, who hear that rhetoric, who hear that charge, who may not understand the complexities of this issue. You are the leader of the Jewish people. You say this is not a partisan issue. You get billions of dollars from direct foreign investment from this country, hundreds of millions of dollars from Americans, Jews and Christians alike from this country.
I think this is a very important point because you say you don’t want to interfere in the election. There are tens of millions of Americans who are watching that speech, who hear that rhetoric, who hear that charge, who may not understand the complexities of this issue. You are the leader of the Jewish people. You say this is not a partisan issue. You get billions of dollars from direct foreign investment from this country, hundreds of millions of dollars from Americans, Jews and Christians alike from this country.
Netanyahu blames George HW Bush for Saddam invasion of Kuwait
Bibi on NBC's Meet the Press --
Conversely, when there was no American red line set before the Gulf War, Saddam Hussein invaded Kuwait, and maybe that war could have been avoided.
Was it really the job of the USA to explain carefully to Saddam that No, they were not going to let him keep Kuwait if he decided to invade it?
Conversely, when there was no American red line set before the Gulf War, Saddam Hussein invaded Kuwait, and maybe that war could have been avoided.
Was it really the job of the USA to explain carefully to Saddam that No, they were not going to let him keep Kuwait if he decided to invade it?
Saturday, September 15, 2012
Don't tell the Eurozone
Wall Street Journal --
SÃO PAULO, Brazil—Brazil said it would liquidate Banco Cruzeiro do Sul SA, the third small or midsized lender to fail in two years. Although the bank is Brazilian, some of the biggest losers may be in the U.S. Cruzeiro sold much of its $1.8 billion in bonds to overseas investors in recent years amid optimism for growth in big emerging markets like Brazil. Analysts expect the quest to recover a portion of the money to be lengthy. Most customer deposits will be covered by the country's deposit-insurance program ...
Still, the authorities have won some praise for letting the bank go under, following the rescue of Banco PanAmericano, in which the depositor fund put up a large amount of capital as part of a sale to Banco BTG Pactual SA. A number of market participants have fretted that the move sent a wrong signal and that no matter what the problems, investors would be bailed out. "I see one positive from this liquidation, as it shows that there cannot be impunity," said Paulo Petrassi, a fund manager at Leme Investimento, who manages 235 million Brazilian reais in bonds and equities. "Looking ahead, the signal is positive in terms of regulation."
It's the position of the European Central Bank, at least as regards Ireland, that bondholders in busted banks can't lose even a cent.
SÃO PAULO, Brazil—Brazil said it would liquidate Banco Cruzeiro do Sul SA, the third small or midsized lender to fail in two years. Although the bank is Brazilian, some of the biggest losers may be in the U.S. Cruzeiro sold much of its $1.8 billion in bonds to overseas investors in recent years amid optimism for growth in big emerging markets like Brazil. Analysts expect the quest to recover a portion of the money to be lengthy. Most customer deposits will be covered by the country's deposit-insurance program ...
Still, the authorities have won some praise for letting the bank go under, following the rescue of Banco PanAmericano, in which the depositor fund put up a large amount of capital as part of a sale to Banco BTG Pactual SA. A number of market participants have fretted that the move sent a wrong signal and that no matter what the problems, investors would be bailed out. "I see one positive from this liquidation, as it shows that there cannot be impunity," said Paulo Petrassi, a fund manager at Leme Investimento, who manages 235 million Brazilian reais in bonds and equities. "Looking ahead, the signal is positive in terms of regulation."
It's the position of the European Central Bank, at least as regards Ireland, that bondholders in busted banks can't lose even a cent.
Friday, September 14, 2012
Don't mention the Arab Spring
This is probably for future reference at best but the picture shows Lagan Valley DUP MP Jeffrey Donaldson meeting the Bahrain Minister of Interior on Wednesday, in Bahrain. His brother Kingsley was also apparently present. It's possible that Sheikh Rashid bin Abdullah Al-Khalifa was getting advice on dealing with sectarian strike from Ian Paisley's party. Good luck with that.
The emergency scapegoat
Many people have read over the last couple of days about the making of the "Innocence of Muslims" and the alleged role of 100 Jewish donors in putting up the US$5 million to finance it. So today we were thinking ... hadn't the first news stories we read about this referred to 100 Jewish doctors? That's what Google thinks too, as above. So was it just a mis-spelling of "donors" or was the initial claim of the supposed Sam Bacile that it really was Jewish doctors financing the film? If it was the latter, the cartoonish yet historically laden claim of a Jewish doctors plot to cause unrest would be a further indictment of the motives of this film. Which would be consistent with the notion of the blogger in Los Angeles who first became aware of the film that there was anti-Semitic motivation behind it.
At this stage, it seems safe to say that the conservatives who have adopted the cause of whoever was behind the film are in bed with some fairly strange people, what appears to be an expatriate provocateur element among Egyptian Coptic Christians. They're not doing any favours to their brethren who actually have to live in Egypt.
UPDATE: Interesting account from PBS Media Shift blog of how the entire early accounts of Sam Bacile were dodgy.
Thursday, September 13, 2012
Maybe we should invade Morocco
There'd always been a point of curiosity as to how Republicans would have behaved had it been President Al Gore on September 12, 2001. Well on September 12, 2012, we know for sure: they would have dispensed with any of that pesky sympathy for the bereaved/national unity business and gone straight to saying it's all the President's fault. Above we have Paul Ryan speaking in Green Bay yesterday indicating that the problem was the absence of a "peace through strength" strategy and a president that in public statements communicates weakness and equivocation to "adversaries." In the Wall Street Journal, it's Liz Cheney with a similar line of attack --
Nor do our adversaries any longer fear us. Ask the mobs in Cairo who attacked our embassy, or the Libyan mobs who killed our diplomats at the U.S. consulate in Benghazi. Ask the Iranians, who make unhindered daily progress toward obtaining a nuclear weapon.
The basic problem with this reasoning is that by its own logic, the ability of the US to intimidate "bad guys" should have peaked in 2003-2004, with 2 seemingly successful invasions under George Bush's belt. Instead it saw the, yes, weakness, of getting pulled into two prolonged insurgencies and the emergence of Al Qaeda 2.0, some later edition of which likely carried out the Benghazi attack. Note by the way the willful confusion of the Cairo mob with the Libyan militias in much of the post-Benghazi commentary from the right. Their prescription seems to be that the US should invade some Arab country, but only when it could look tough doing so.
World government
Watch Campaigns Get Combative Over Embassy Attacks on PBS. See more from PBS NewsHour.
There is not likely to be a more definitive demonstration of the inability of the American right to see world events through anything other than a parochial politicised lens than Senator Norm Coleman on the PBS News Hour last night defending Mitt Romney's statements on the Cairo and Benghazi embassy attacks of 11 September 2012 (at the 6:30 mark in the video):
And, Ambassador [Nicholas Burns], is the Middle East doing much better today than it was four years ago? I don't think so. I don't think Egypt is doing better. I don't think that Iran is further away from having a nuclear weapon. I don't think the Israeli prime minister is more confident in American support.
Apparently it's the job of an American President to make Egyptians better off than they were in the last US election cycle. Also, the claim that the transition from dictatorship to democracy has not made them better off. Freedom!
Saturday, September 08, 2012
Lookalikes
The German Constitutional Court in Karlsruhe has a big decision on Wednesday. Let's hope their resemblance to the Stonecutters doesn't undercut the seriousness of their decision making.
Wednesday, September 05, 2012
Thick as a brick
It's always tempting when analyzing the ability of Bashar al-Assad like his father before him to hang on to power in the face of widespread opposition and revulsion at his tactics. Adjectives like "wily," "intelligent," "calculating," and so on easily lend themselves to the analysis.
Then you read that Bashar al-Assad's e-mail password was 1234. Then the snipers, tanks, helicopter gunships and jets that he has unleashed in his own people don't seem wily, intelligent, or calculating. It's just what he is, brutally stupid and effective only until he runs into opponents willing to presume he's that stupid.
Good luck Russia and Iran with your only Arab friend.
Then you read that Bashar al-Assad's e-mail password was 1234. Then the snipers, tanks, helicopter gunships and jets that he has unleashed in his own people don't seem wily, intelligent, or calculating. It's just what he is, brutally stupid and effective only until he runs into opponents willing to presume he's that stupid.
Good luck Russia and Iran with your only Arab friend.
Tuesday, September 04, 2012
It's pronounced Tin Lizzy
Irish Times --
Mr Romney’s running mate Paul Ryan arrived onstage last week at the party’s national convention in Florida to the strains of The Boys Are Back In Town – a hit penned by Lynott. Philomena Lynott, a best-selling author and curator of her son’s legacy, rejected the use of her son’s music by the Republican Party. She said: “I am really upset at Philip’s music being used in a political way that he himself would not have approved of. As far as I’m concerned, Mitt Romney’s opposition to gay marriage and to civil unions for gays makes him anti-gay, which is not something that Philip would have supported.
Mr Romney’s running mate Paul Ryan arrived onstage last week at the party’s national convention in Florida to the strains of The Boys Are Back In Town – a hit penned by Lynott. Philomena Lynott, a best-selling author and curator of her son’s legacy, rejected the use of her son’s music by the Republican Party. She said: “I am really upset at Philip’s music being used in a political way that he himself would not have approved of. As far as I’m concerned, Mitt Romney’s opposition to gay marriage and to civil unions for gays makes him anti-gay, which is not something that Philip would have supported.
Thursday, August 30, 2012
AC/DC didn't sing Hey Big Spender
In Congress, when they take out the heavy books and wall charts about Medicare, my thoughts go back to a house on Garfield Street in Janesville. My wonderful grandma, Janet, had Alzheimer’s and moved in with Mom and me. Though she felt lost at times, we did all the little things that made her feel loved. We had help from Medicare, and it was there, just like it’s there for my Mom today. Medicare is a promise, and we will honor it. A Romney-Ryan administration will protect and strengthen Medicare, for my Mom’s generation, for my generation, and for my kids and yours.
The chart above is from a recent US Alzheimer's Association report which shows the total projected cost of Alzheimer's care by major components including Medicare and out of pocket. It sure sounds like from his remarks above that Paul Ryan was promising to find all that money for Medicare and to cap per person out of pocket expenses. Yet Ryan's actually Medicare plan only indexes current costs to general inflation, ignoring the demographic and cost factors that drive diseases like Alzheimer's.
The beard of understanding
Tom Friedman --
Excuse me, President Morsi, but there is only one reason the Iranian regime wants to hold the meeting in Tehran and have heads of state like you attend, and that is to signal to Iran’s people that the world approves of their country’s clerical leadership and therefore they should never, ever, ever again think about launching a democracy movement — the exact same kind of democracy movement that brought you, Mr. Morsi, to power in Egypt.
President Morsi, having ignored Tom Friedman and gone to Tehran to speak directly to the Assad-backing Ayatollahs --
"We should all express our full support to the struggle of those who are demanding freedom and justice in Syria and translate our sympathies into a clear political vision that supports peaceful transfer (of power) to a democratic system," Morsi said in his opening statement. Morsi slammed Assad's rule, saying that the world had a "moral duty" to stand with the Syrian people in their struggle "against an oppressive regime that has lost its legitimacy." He said having a democratic system in Syria "reflects the desire of the Syrian people for freedom, justice and equality and at the same time protects Syria from entering into a civil war or being divided by sectarian clashes."
The easy thing would have been to stay away and earn favourable headlines in the American media. Instead he showed up and told it like it was.
Update: According to this Al-Arabiya story (easily run through Google Translate), Iranian state television provided a doctored translation of Morsi's speech, replacing Syria references with Bahrain, changing the name of Arab Spring to Islamic Awakening, and taking out references to various Caliphs (a theological issue).
Excuse me, President Morsi, but there is only one reason the Iranian regime wants to hold the meeting in Tehran and have heads of state like you attend, and that is to signal to Iran’s people that the world approves of their country’s clerical leadership and therefore they should never, ever, ever again think about launching a democracy movement — the exact same kind of democracy movement that brought you, Mr. Morsi, to power in Egypt.
President Morsi, having ignored Tom Friedman and gone to Tehran to speak directly to the Assad-backing Ayatollahs --
"We should all express our full support to the struggle of those who are demanding freedom and justice in Syria and translate our sympathies into a clear political vision that supports peaceful transfer (of power) to a democratic system," Morsi said in his opening statement. Morsi slammed Assad's rule, saying that the world had a "moral duty" to stand with the Syrian people in their struggle "against an oppressive regime that has lost its legitimacy." He said having a democratic system in Syria "reflects the desire of the Syrian people for freedom, justice and equality and at the same time protects Syria from entering into a civil war or being divided by sectarian clashes."
The easy thing would have been to stay away and earn favourable headlines in the American media. Instead he showed up and told it like it was.
Update: According to this Al-Arabiya story (easily run through Google Translate), Iranian state television provided a doctored translation of Morsi's speech, replacing Syria references with Bahrain, changing the name of Arab Spring to Islamic Awakening, and taking out references to various Caliphs (a theological issue).
Wednesday, August 29, 2012
So it was just a German racket
European Central Bank President Mario Draghi writing in Die Zeit today --
The debate is taking place because the euro area has not yet fully succeeded as a polity. Currencies ultimately depend on the institutions that stand behind them. When the euro was first proposed, there were those who said it would have to be preceded by a long process of political integration. This was because sharing a currency would imply a high degree of joint decision-making. Member countries would be a “Schicksalsgemeinschaft” and would need strong common democratic underpinnings.
Who amongst us could have forgotten those times in 1990s when we were assured that the single currency would work because after all it was a Schicksalsgemeinschaft?
Incidentally, the phrase means "community of fate."
Further incidentally, does it seem like we need more German capabilities lately?
The debate is taking place because the euro area has not yet fully succeeded as a polity. Currencies ultimately depend on the institutions that stand behind them. When the euro was first proposed, there were those who said it would have to be preceded by a long process of political integration. This was because sharing a currency would imply a high degree of joint decision-making. Member countries would be a “Schicksalsgemeinschaft” and would need strong common democratic underpinnings.
Who amongst us could have forgotten those times in 1990s when we were assured that the single currency would work because after all it was a Schicksalsgemeinschaft?
Incidentally, the phrase means "community of fate."
Further incidentally, does it seem like we need more German capabilities lately?
Tuesday, August 28, 2012
Indeed
Photo: REUTERS/Mike Segar
Monday, August 27, 2012
German for beginners
Angela Merkel's man on the ECB Board Jörg Asmussen speaking in Hamburg today:
Kolumnen von Zeitungsherausgebern und Online-Bloggern; offene Briefe von Professoren; am eigenen Interesse orientierte Analysen von Marktteilnehmern in Deutschland und weltweit: es fehlt nicht an Untersuchungen, Bewertungen, Szenarien von scheinbar unabwendbaren Katastrophen, und Ratschlägen, was „die Politik“, oder einfacher noch, „die Zentralbank“ doch bitte zu tun, oder zu lassen habe.
It translates as: And we would have gotten away with it too if it hadn't been for you pesky bloggers. And professors.
Kolumnen von Zeitungsherausgebern und Online-Bloggern; offene Briefe von Professoren; am eigenen Interesse orientierte Analysen von Marktteilnehmern in Deutschland und weltweit: es fehlt nicht an Untersuchungen, Bewertungen, Szenarien von scheinbar unabwendbaren Katastrophen, und Ratschlägen, was „die Politik“, oder einfacher noch, „die Zentralbank“ doch bitte zu tun, oder zu lassen habe.
It translates as: And we would have gotten away with it too if it hadn't been for you pesky bloggers. And professors.
Friday, August 24, 2012
Not in Cavan anymore
Photo: Getty Images via Wall Street Journal.
Sunday, August 19, 2012
Since Julian Assange is fishing for causes
Photo: Phil Noble, Reuters.
That Julian Assange embassy balcony speech in full
Assange: The following people are to be released from their captors: In Northern Ireland, the seven members of the New Provo Front. In Canada, the five imprisoned leaders of Liberte de Quebec. In Sri Lanka, the nine members of the Asian Dawn movement.
Crowd/media: What the f***?
Embassy staffer: Asian Dawn?
Assange: I read about them in Time magazine.
[Actual source for the above quote. And if you really are seeking a transcript, it looks like Russia Today is taking time out from Syrian propaganda to get a copy]
Wednesday, August 15, 2012
Don't mention the war
Saudi King Abdullah shakes hands with Iranian President Mahmoud Ahmadinejad at the Islamic Solidarity Summit in Jeddah -- even as they scheme against each other via a proxy war in Syria.
Photo: Saudi Press Agency.
Germany still makes stuff
This New York Times photograph tells a story, or at least can have a story projected upon it. It's of two workers at a specialized valve factory in Frankfurt. The business is doing well and one reason it does well is because of the Euro -- many of its customers are abroad so it's a small business that benefits from the advantage of a common and/or "competitive" currency. But anyway, about the photo: two men, black t-shirts, one sleeveless, tattoos, earrings, tough-looking individuals. In any other country, they'd be typecast as "working class" with all those connotations. But it's Germany. They have a manual skill that's needed in a small business that's making money. So their entire life trajectory and prospects are different from what the class term implies.
Meanwhile, Mitt Romney is popping up next to workers in overalls claiming that he's going to make their lives better, but that Europe is not the way to do it.
The poor are revolting
Tenured professor of economics at Harvard University, Robert Barro, writing in the Wall Street Journal --
And, more specifically, the Obama administration's weakening of individual incentives to work and produce by its sharp expansion of transfer payments can be reasonably viewed as retarding the U.S. economic recovery since the end of the recession in 2009.
And, more specifically, the Obama administration's weakening of individual incentives to work and produce by its sharp expansion of transfer payments can be reasonably viewed as retarding the U.S. economic recovery since the end of the recession in 2009.
Monday, August 13, 2012
We're going to need a deeper recession
At what is now the explicit Romney-Ryan target of 4% annual growth, deficit reduction and fiscal stability would be achievable, and with much less pain and suffering. When I recently asked Mr. Ryan whether 4% growth was reasonable, he responded: "It should be easy. Under Reagan we had growth rates of 7% and even 8%."
Reagan's Presidency had a single year of growth in that range -- 1984, after a brutal double-dip recession. Only Bill Clinton's years achieved the kind of growth that Ryan wants without a plunge at the start (Reagan) and/or the end (Bush).
Saturday, August 11, 2012
Paul Ryan
Both political parties have fallen victim to “partnership” with large and well-connected companies, especially in energy, housing, finance and healthcare.
What rather significant chunk of government purchases from large private companies is missing from that list of sectors?
Incidentally, we also want to suggest a logo for the Romney-Ryan campaign.
UPDATE: With reference to our question above, it's worth noting that the announcement is being made in a naval base town, Norfolk Va., before an audience heavily populated with veterans. And going for the Irish ancestry as a working class credential, Governor Bob McDonnell doing the introductions referred to his grandfather from "Mayo County, Ireland."
Monday, August 06, 2012
The New Journalism
Is there any news outlet that did a story on American television network NBC not showing the men's 100m live which did not involve screen shots of tweets complaining that NBC did not show the men's 100m live?
Rats, ship, sinking
Moscow Times --
Russian flag carrier Aeroflot suspended all flights to war-torn Syria on Monday, citing commercial considerations. Aeroflot flights from the Syrian capital, Damascus, to its Moscow hub at Sheremetyevo Airport have been overbooked, while return flights have been practically empty, an unidentified Aeroflot spokesman told RIA-Novosti.
Russian flag carrier Aeroflot suspended all flights to war-torn Syria on Monday, citing commercial considerations. Aeroflot flights from the Syrian capital, Damascus, to its Moscow hub at Sheremetyevo Airport have been overbooked, while return flights have been practically empty, an unidentified Aeroflot spokesman told RIA-Novosti.
Once a Vampire Squid, always a Vampire Squid
Wall Street Journal article on the scramble to save the Knight Capital brokerage --
Goldman Sachs Group Inc. agreed to buy the [erroneously purchased] stock in a bulk lot at a discount, causing Knight to record a loss on the deal.
That loss was $440 million.
Then again, as the firm's staff said to the themselves over the disastrous weekend arising from a software-induced trading error, it was all the fault of "One line of code."
Goldman Sachs Group Inc. agreed to buy the [erroneously purchased] stock in a bulk lot at a discount, causing Knight to record a loss on the deal.
That loss was $440 million.
Then again, as the firm's staff said to the themselves over the disastrous weekend arising from a software-induced trading error, it was all the fault of "One line of code."
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