https://www.garlic.com/~lynn/miniterm2.jpg
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: copyright protection/Doug Englebart Newsgroups: alt.folklore.computers Date: Tue, 06 Aug 2013 19:51:11 -0400Shmuel (Seymour J.) Metz <spamtrap@library.lspace.org.invalid> writes:
... legal is whatever they made the laws to say legal is.
it is like "city of london" with corporations not only are people
... but also vote:
https://www.garlic.com/~lynn/2013j.html#3 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013j.html#26 What Makes an Architecture Bizarre?
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: copyright protection/Doug Englebart Newsgroups: alt.folklore.computers Date: Tue, 06 Aug 2013 20:30:32 -0400my gosh ... somebody said:
Privatising intelligence gathering
http://www.zdnet.com/au/privatising-intelligence-gathering-7000019041/
some past posts ... but with 'z' not 's' (privatizing)
https://www.garlic.com/~lynn/2013e.html#53 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013i.html#26 Louis V. Gerstner Jr. lays out his post-IBM life
https://www.garlic.com/~lynn/2013i.html#41 Is newer technology always better? It almost is. Exceptions?
https://www.garlic.com/~lynn/2013i.html#54 How do you feel about the fact that India has more employees than US?
https://www.garlic.com/~lynn/2013i.html#61 Big Data Is Opening Doors, but Maybe Too Many
https://www.garlic.com/~lynn/2013i.html#65 The Real Snowden Question
https://www.garlic.com/~lynn/2013i.html#76 The failure of cyber defence - the mindset is against it
https://www.garlic.com/~lynn/2013i.html#77 Insane Insider Threat Program in Context of Morally and Mentally Bankrupt US Intelligence System
https://www.garlic.com/~lynn/2013j.html#31 IBM vs. Amazon for Cloud
https://www.garlic.com/~lynn/2013j.html#51 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013j.html#54 copyright protection/Doug Englebart
https://www.garlic.com/~lynn/2013j.html#74 How the NSA Manipulates Language To Mislead The Public
https://www.garlic.com/~lynn/2013j.html#81 copyright protection/Doug Englebart
https://www.garlic.com/~lynn/2013j.html#83 copyright protection/Doug Englebart
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virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: IBM Relevancy in the IT World Date: 06 Aug 2013 Blog: IBMersGerstner was in competition to be next CEO of AMEX. The looser leaves and takes Jamie Dimon, his protege with him. They go to Baltimore and this description has them taking over a loan sharking business
They do some number of other take-overs and eventual acquire Citibank in violation of Glass-Steagall. Greenspan gives them an exemption while they lobby congress for repeal of Glass-Steagall and creation of too-big-to-fail. Dimon leaves and turns up as head of JPMorgan.
AMEX & KKR are in competition for reverse-IPO (leveraged buyout, private-equity take-over) of RJR. KKR wins but runs into some trouble and hires away Gerstner to turn around RJR.
IBM has gone into the red and had been re-organized into the 13 "baby blues" in preparation for breakup. IBM board hires Gerstner away to resurrect IBM (and reverse the break-up). Gerstner later leaves IBM to become head of one of the other large private equity companies ... which then does reverse-IPO (private-equity buyout) of Boos-Allen (among others).
Traditional mechanism of leverage buyout, reverse-IPO is private-equity borrows huge amount of money for the purchase and also pay themselves enormous fees and commissions ... and then later does an IPO ... sort of like flipping house ... however it is pure profit since they don't pay off the original loan ... which goes on the books of the company bought and then IPO'ed (they even turn a profit if they IPO for less than they originally payed).
Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens,
http://books.google.com/books?id=u655GkaMkwgC&pg=PA216&lpg=PA216#v=onepage&q&f=false
pg216/loc4511-14:
Plenty of good firms have gone bust as a result of this offshore
debt-loading, which the New York Times in 2009 described as "a Wall
Street version of 'Flip This House.'" 48 More than half of the
companies that defaulted on their debt that year were either
previously or currently owned by private equity firms.
... snip ...
http://www.newser.com/story/70949/simmons-bankruptcy-study-in-private-equity-run-amok.html
http://www.nytimes.com/2009/10/05/business/economy/05simmons.html
lots of top executives have their bonuses tied to stock price ... stock buybacks boost stock price and helps them make their bonuses
Stockman in "The Great Deformation: The Corruption of Capitalism in
America" ... talks about stock buybacks as a mini-form of LBO
(leverage buyout), with the executives reaping huge rewards,
pg457/loc9844-46:
The leader was ExxonMobil, which repurchased $160 billion of its own
shares during 2004-2011. It was followed by Microsoft at $100 billion,
IBM at $75 billion, and Hewlett-Packard, Proctor & Gamble, and Cisco
with $50 billion each. Even the floundering shipwreck of merger mania
known as Time Warner Inc. bought back $25 billion.
pg464/loc9995-10000:
IBM was not the born-again growth machine trumpeted by the mob of Wall
Street momo traders. It was actually a stock buyback contraption on
steroids. During the five years ending in fiscal 2011, the company
spent a staggering $67 billion repurchasing its own shares, a figure
that was equal to 100 percent of its net income.
pg465/10014-17:
Total shareholder distributions, including dividends, amounted to $82
billion, or 122 percent, of net income over this five-year
period. Likewise, during the last five years IBM spent less on capital
investment than its depreciation and amortization charges, and also
shrank its constant dollar spending for research and development by
nearly 2 percent annually.
... snip ..
past posts mentioning gerstner
https://www.garlic.com/~lynn/submisc.html#gerstner
There is a periodic financial industry publication that publishes the numbers of thousands of financial institution measures .... avg' for the national banks compared to the avg for the largest regional banks. I reviewed this a decade ago ... and the regional banks were more efficient and better ROI than the national banks. With national banks less efficient than regional banks ... about the only justification for national banks was that top executive compensation (including bonus) is roughly proportional to size of the institution (rather than strictly profitability) ... this was further aggravated with the repeal of Glass-Steagall and the appearance of too-big-to-fail (as mentioned upthread kicked off by person that lost out to Gerstner for next ceo of AMEX)
disclaimer: after IBM, I did stint at first data ... mentioned here
(although it got some of the details of early life at ibm garbled):
https://web.archive.org/web/20190524015712/http://www.ibmsystemsmag.com/mainframe/stoprun/Stop-Run/Making-History/
In 1992, AMEX spins off large part of its (mainframe) dataprocessing as First Data ... claimed to be the largest IPO up until that time. Late 90s, First Data merges with First Financial (first financial includes Western Union). By 2005 with the massive increase in foreign workers (sending earnings home), Western Union represents half of First Data revenue and is spun off in IPO. All of corporate is then lop'ed off and First Data taken private in (private equity) reverse-IPO by KKR (largest reverse-IPO up until that time, 15 yrs after having AMEX spun it off in the largest IPO up until that time, the borrowing to do the leveraged buyout and pay KKR commissions and fees carried on FDC books).
recent posts mentioning "Great Deformation" &/or "Treasure Islands":
https://www.garlic.com/~lynn/2013f.html#3 What Makes a thread about the European debt crisis Bizarre?
https://www.garlic.com/~lynn/2013f.html#5 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#13 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#23 What Makes weapons control Bizarre?
https://www.garlic.com/~lynn/2013f.html#30 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#34 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#49 As an IBM'er just like the Marines only a few good men and women make the cut,
https://www.garlic.com/~lynn/2013f.html#63 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013g.html#5 SAS Deserting the MF?
https://www.garlic.com/~lynn/2013g.html#69 What Makes collecting sales taxes Bizarre?
https://www.garlic.com/~lynn/2013i.html#54 How do you feel about the fact that India has more employees than US?
https://www.garlic.com/~lynn/2013i.html#65 The Real Snowden Question
https://www.garlic.com/~lynn/2013i.html#81 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#3 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013j.html#26 What Makes an Architecture Bizarre?
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: copyright protection/Doug Englebart Newsgroups: alt.folklore.computers Date: Wed, 07 Aug 2013 11:29:22 -0400"osmium" <r124c4u102@comcast.net> writes:
Chapter 9 Hysteria in the Wall Street Journal
http://www.creditslips.org/creditslips/2013/08/chapter-9-hysteria-in-the-wall-street-journal.html
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: copyright protection/Doug Englebart Newsgroups: alt.folklore.computers Date: Wed, 07 Aug 2013 12:09:20 -0400Anne & Lynn Wheeler <lynn@garlic.com> writes:
oh and some past posts mentioning ERISA &/or PBGC
https://www.garlic.com/~lynn/2006o.html#61 Health Care
https://www.garlic.com/~lynn/2007j.html#91 IBM Unionization
https://www.garlic.com/~lynn/2008.html#65 As Expected, Ford Falls From 2nd Place in U.S. Sales
https://www.garlic.com/~lynn/2010b.html#24 Happy DEC-10 Day
https://www.garlic.com/~lynn/2010d.html#46 search engine history, was Happy DEC-10 Day
https://www.garlic.com/~lynn/2010i.html#77 Favourite computer history books?
https://www.garlic.com/~lynn/2011m.html#11 PKI "fixes" that don't fix PKI
https://www.garlic.com/~lynn/2012.html#94 Bankruptcy a reprieve for some companies
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: daycare arbitrage, was What Makes Infrastructure investment not bizarre Newsgroups: alt.folklore.computers Date: Wed, 07 Aug 2013 12:30:06 -0400John Levine <johnl@iecc.com> writes:
40% Of US Workers Now Earn Less Than 1968 Minimum Wage
http://www.zerohedge.com/news/2013-08-05/40-us-workers-now-earn-less-1968-minimum-wage
from above:
But as I mentioned above, it isn't just that the number of jobs is not
what it should be. The quality of our jobs is declining as well. For
example, one study found that between 1969 and 2009 the wages earned by
American men between the ages of 30 and 50 declined by 27 percent after
you account for inflation.
... snip ...
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From: lynn@GARLIC.COM (Anne & Lynn Wheeler) Subject: Re: OT? IBM licenses POWER architecture to other vendors. Newsgroups: bit.listserv.ibm-main Date: 7 Aug 2013 13:34:21 -0700john.archie.mckown@GMAIL.COM (John McKown) writes:
There was Somerset & AIM (apple, ibm, motorola)
https://en.wikipedia.org/wiki/PowerPC
from above:
However, toward the close of the decade, manufacturing issues began
plaguing the AIM alliance in much the same way they did Motorola, which
consistently pushed back deployments of new processors for Apple and
other vendors: first from Motorola in the 1990s with the G3 and G4
processors, and IBM with the 64-bit G5 processor in 2003. In 2004,
Motorola exited the chip manufacturing business by spinning off its
semiconductor business as an independent company called Freescale
Semiconductor. Around the same time, IBM exited the 32-bit embedded
processor market by selling its line of PowerPC products to Applied
Micro Circuits Corporation (AMCC) and focusing on 64-bit chip designs
... and ...
The IBM-Freescale alliance was replaced by an open standards body called
Power.org. Power.org operates under the governance of the IEEE with IBM
continuing to use and evolve the PowerPC processor on game consoles and
Freescale Semiconductor focusing solely on embedded devices.
... snip ...
https://en.wikipedia.org/wiki/Power.org
trivia, the executive we reported to when we were doing IBM's HA/CMP
... went over to head up the Somerset (Apple, IBM, and Motorola
designing power/pc chips) ... he had previously come from Motorola
https://www.garlic.com/~lynn/subtopic.html#hacmp
post posts mentioning 801, romp, rios, power, power/pc, etc
https://www.garlic.com/~lynn/subtopic.html#801
Note that Google, part of OpenPOWER, now owns Motorola.
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: daycare arbitrage, was What Makes Infrastructure investment not bizarre Newsgroups: alt.folklore.computers Date: Thu, 08 Aug 2013 09:01:55 -0400Peter Flass <Peter_Flass@Yahoo.com> writes:
the $15 may just be bargaining ploy ... also there are comparisons with McDonalds in other countries paying much higher wage and are still profitable.
also doesn't negate other parts of the article
But as I mentioned above, it isn't just that the number of jobs is not
what it should be. The quality of our jobs is declining as well. For
example, one study found that between 1969 and 2009 the wages earned by
American men between the ages of 30 and 50 declined by 27 percent after
you account for inflation.
... snip ...
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virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@GARLIC.COM (Anne & Lynn Wheeler) Subject: Re: OT? IBM licenses POWER architecture to other vendors. Newsgroups: bit.listserv.ibm-main Date: 8 Aug 2013 06:40:24 -0700shmuel+gen@PATRIOT.NET (Shmuel Metz , Seymour J.) writes:
however, claim is that at least half of the z196 per processor improvment over z10 was introduction of out-of-order execution, branch prediction, speculative execution ... features which have been part of RISC chips for decades. further use of out-of-order execution, branch prediction, speculative execution were used for z12 increase in per processor improvement over z196.
issue is legacy implementation cache miss stalls the execution units and current cache miss memory access latency ... measured in number of processor cycles ... is on the order of 360 disk i/o (i.e. disk i/o latency measured in number of 360 processor cycles). out-of-order execution allows hardware analogy of multi-tasking / multi-threading/programming ... allowing to switch to some other work while current instruction is stalled waiting for memory access on cache miss.
the other feature allowing hardware analogy of multi-tasking / muti-threading/programming is hyper-threading. I had gotten sucked into being asked to help when it was worked on for 370/195 (which never shipped). The issue for 370/195 was that pipeline peak throughput was 10mips ... but 370/195 didn't have branch prediction or speculative execution ... as a result conditional branches would stall the pipeline ... and most codes only achieved 5mips throughput. hyperthreading would provide emulated multiprocessing with two instruction streams ... which had a better chance of keeping the execution units operating at peak throughput.
note that risc implementations have had throughput advantage of x86 for decades ... however the past several generations of x86 have actually gone to RISC cores with hardware layer that translates x86 instructions into risc micro-ops ... that largely mitigates the throughput differences between risc implementations and x86 implementations.
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virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: Why DOJ Deemed Bank Execs Too Big To Jail Date: 08 Aug 2013 Blog: Financial Crime Risk, Fraud and Securityre:
The Chase and Bank of America Investigations: Real Action, or More of
the Same?
http://www.rollingstone.com/politics/blogs/taibblog/new-bank-investigations-real-action-or-more-of-the-same-20130808
So Why is the Administration Trying to Look a Smidge More Aggressive
About Going After Banks?
http://www.nakedcapitalism.com/2013/08/so-why-is-the-administration-trying-to-look-a-smidge-more-aggressive-about-going-after-banks.html
JPMorgan Faces Probe as U.S. Faults Mortgage Bond Sales
http://www.bloomberg.com/news/2013-08-07/jpmorgan-says-u-s-concluded-mortgage-bond-sales-broke-civil-law.html
Justice Dept. Sues Bank of America Over Mortgage Securities
http://dealbook.nytimes.com/2013/08/06/justice-sues-bank-of-america-over-mortgage-securities/?partner=socialflow&smid=tw-nytimesbusiness&_r=0
S.E.C. Is Said to Press JPMorgan for an Admission of Wrongdoing
http://dealbook.nytimes.com/2013/08/08/inquiry-into-jpmorgans-trading-loss-enters-final-stage/
JP Morgan Is Facing Criminal and Civil Mortgage Investigations
http://www.theatlanticwire.com/business/2013/08/jp-morgan-faces-criminal-and-civil-mortgage-investigations/68110/
'The most dishonest bankers walk away with the most money'
http://www.theguardian.com/commentisfree/2013/aug/01/most-dishonest-bankers-most-money-banking-blog
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes Infrastructure investment not bizarre Newsgroups: alt.folklore.computers Date: Thu, 08 Aug 2013 23:21:24 -0400Andrew Swallow <am.swallow@btinternet.com> writes:
some recent
On the SEC's Too Little, Too Late "Fabulous Fab" CDO Victory
http://www.nakedcapitalism.com/2013/08/on-the-secs-too-little-too-late-fabulous-fab-cdo-victory.html
Industry wrote provision that undercuts credit-rating overhaul
http://www.mcclatchydc.com/2013/08/07/198739/industry-wrote-provision-that.html
some past posts mentioning (triple-A rated) toxic CDOs
https://www.garlic.com/~lynn/submisc.html#toxic.cdo
Note that Sarbanes-Oxley also had provision for SEC to do something about the rating agencies ... but nothing seemed to come of it. Rhetoric on the floor of congress justifying Sarbanes-Oxley was that top executives and auditors would do jail time ... but nothing seems to have happened ... even though GAO reports show fraudulent financial filings actually increased after passage of SOX
some past posts mentioning sarbanes-oxley
https://www.garlic.com/~lynn/submisc.html#sarbanes-oxley
some past posts mentioning GAO reports on fraudulent financial filings
(even showing increase after sarbanes-oxley and SEC not
prosecuting anybody) financial reporting fraud
https://www.garlic.com/~lynn/submisc.html#financial.reporting.fraud.fraud
In the congressional Madoff hearings, they had the person that
had tried unsuccessfully for a decade to get SEC to do something
about Madoff (SEC's hand was forced when Madoff turned himself
in). some past posts mentioning Madoff
https://www.garlic.com/~lynn/submisc.html#madoff
... and other recent news items
The Chase and Bank of America Investigations: Real Action, or More of
the Same?
http://www.rollingstone.com/politics/blogs/taibblog/new-bank-investigations-real-action-or-more-of-the-same-20130808
So Why is the Administration Trying to Look a Smidge More Aggressive
About Going After Banks?
http://www.nakedcapitalism.com/2013/08/so-why-is-the-administration-trying-to-look-a-smidge-more-aggressive-about-going-after-banks.html
JPMorgan Faces Probe as U.S. Faults Mortgage Bond Sales
http://www.bloomberg.com/news/2013-08-07/jpmorgan-says-u-s-concluded-mortgage-bond-sales-broke-civil-law.html
Justice Dept. Sues Bank of America Over Mortgage Securities
http://dealbook.nytimes.com/2013/08/06/justice-sues-bank-of-america-over-mortgage-securities/?partner=socialflow&smid=tw-nytimesbusiness&_r=0
S.E.C. Is Said to Press JPMorgan for an Admission of Wrongdoing
http://dealbook.nytimes.com/2013/08/08/inquiry-into-jpmorgans-trading-loss-enters-final-stage/
JP Morgan Is Facing Criminal and Civil Mortgage Investigations
http://www.theatlanticwire.com/business/2013/08/jp-morgan-faces-criminal-and-civil-mortgage-investigations/68110/
More Mortgage Trouble For Bank Of America, Civil Charges On The Way
http://www.forbes.com/sites/halahtouryalai/2013/08/02/more-mortgage-trouble-for-bank-of-america-civil-charges-on-the-way/
'The most dishonest bankers walk away with the most money'
http://www.theguardian.com/commentisfree/2013/aug/01/most-dishonest-bankers-most-money-banking-blog
Swaps Probe Finds Banks Rigged Rate at Expense of Retirees
http://www.bloomberg.com/news/2013-08-02/swaps-probe-finds-banks-manipulated-rate-at-expense-of-retirees.html
Conveniently Late Probe Finds Whole Nation Rigged at Expense of Middle
Class - You Don't Say!
http://mikenormaneconomics.blogspot.com/2013/08/conveniently-late-probe-finds-whole.html
... and
Blythe Masters' "Get-Out-Of-FERC-Jail-Free" Card May Cost JPMorgan
$500mm
http://www.zerohedge.com/news/2013-07-17/blythe-masters-get-out-ferc-jail-free-card-may-cost-jpmorgan-500mm
Chase, Once Considered "The Good Bank," Is About to Pay Another
Massive Settlement
http://www.rollingstone.com/politics/blogs/taibblog/chase-once-considered-the-good-bank-is-about-to-pay-another-massive-settlement-20130718
JPMorgan Accused By FERC Of Manipulating Power Market, To Be Fined
$400 Million
http://www.zerohedge.com/news/2013-07-29/jpmorgan-accused-ferc-manipulating-power-market
JPMorgan Top Exec Blythe Masters Dodges Penalty As Bank Settles Energy
Manipulation Charges For $410M
http://www.forbes.com/sites/afontevecchia/2013/07/30/jpmorgan-top-exec-blythe-masters-dodges-penalty-as-bank-settles-energy-manipulation-charges-for-410m/
Fines may not deter companies from manipulating markets
http://www.mcclatchydc.com/2013/08/02/198450/fines-may-not-deter-companies.html
Banks Replacing Enron in Energy Incite Congress as Abuses Abound
http://www.bloomberg.com/news/2013-08-02/banks-replacing-enron-in-energy-incite-congress-as-abuses-abound.html
Enron Redux -- Have We Learned Anything?
http://www.zerohedge.com/news/2013-08-02/guest-post-enron-redux-%E2%80%93-have-we-learned-anything
A Shuffle of Aluminum, but to Banks, Pure Gold
http://www.nytimes.com/2013/07/21/business/a-shuffle-of-aluminum-but-to-banks-pure-gold.html?emc=eta1&_r=0
How Goldman Made $5 Billion By Manipulating Aluminum Inventories (and
Copper is Up Next)
http://www.nakedcapitalism.com/2013/07/how-goldman-made-5-billion-by-manipulating-aluminum-inventories-and-copper-is-up-next.html
Goldman's Alleged Aluminum Scam
http://www.businessinsider.com/goldmans-alleged-aluminum-scam-2013-7
"Market Parasite" JPMorgan Added To Goldman Aluminum "Cartel" Lawsuit
http://www.zerohedge.com/news/2013-08-07/market-parasite-jpmorgan-added-goldman-aluminum-cartel-lawsuit
... and
FBI Finds Holes in System Protecting Economic Data
http://online.wsj.com/article/SB10001424127887323420604578650411437354782.html
FBI Probing Holes In Early Economic Data Release
http://www.zerohedge.com/news/2013-08-06/fbi-probing-holes-early-economic-data-release
has HFT example of 15millisecond leak here
http://www.zerohedge.com/news/2013-06-03/watch-todays-15-millisecond-leak-ism-print
another early leak here
http://www.zerohedge.com/news/2013-08-02/presenting-todays-blatant-bond-market-manipulation-or-bls-leak
fine for HFT stock manipulation
http://www.zerohedge.com/news/2013-07-11/third-largest-futures-broker-gets-record-fine-hft-stock-market-manipulation
another reference
http://www.zerohedge.com/news/2013-08-05/hft-quote-churn-spam-soars-record-volume-plummets
and other too big to fail, too big to prosecute, too big to jail
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes Infrastructure investment not bizarre Newsgroups: alt.folklore.computers Date: Fri, 09 Aug 2013 10:10:55 -0400Soupe du Jour <soupedujour2000@gmail.com> writes:
lots of public distraction from whatever is really going.
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes Infrastructure investment not bizarre Newsgroups: alt.folklore.computers Date: Fri, 09 Aug 2013 10:31:39 -0400re:
part of story about lots of use of massive high-speed computers for HFT ... is it being facade skimming from real investers ... HFT is not investment ... but gaming the market for skimming from everybody else. danger is that it drives real investors from the field ... and then the HFT players are just battling it out against each ohter.
Did Retail Investors Just Fold?
http://www.zerohedge.com/news/2013-08-09/did-retail-investors-just-fold
a too-big-to-fail HFT story
In Goldman Programmer Case, a Way Around Double Jeopardy
http://dealbook.nytimes.com/2012/10/01/in-goldman-programmer-case-a-way-around-double-jeopardy/
The legal jujitsu of Goldman Sachs
http://blogs.reuters.com/felix-salmon/2013/08/02/the-legal-jujitsu-of-goldman-sachs/
Did Goldman Sachs Overstep in Criminally Charging Its Ex-Programmer?
http://www.vanityfair.com/business/2013/09/michael-lewis-goldman-sachs-programmer
A Fine And A Ban On Working In The Securities Industry Don't Sound That
Bad To Sergey Aleynikov
http://dealbreaker.com/2013/08/a-fine-and-a-ban-on-working-in-the-securities-industry-dont-sound-that-bad-to-sergey-aleynikov/#more-108410
Sergey Aleynikov Suffers The Full Wrath Of A Vindictive US Judicial
System
http://www.zerohedge.com/news/2013-04-30/sergey-aleynikov-suffers-full-wrath-vindictive-us-judicial-system
If You're On Trial, You'd Better Hope Goldman Sachs is on Your Side
http://www.motherjones.com/kevin-drum/2013/08/goldman-sachs-trial-aleynikov
New Michael Lewis Story Makes Goldman Sachs Look Absolutely Ruthless
http://www.businessinsider.com/michael-lewis-vanity-fair-goldman-story-2013-7
Former Goldman Sachs Programmer Back To Court
http://news.firedoglake.com/2013/06/10/former-goldman-sachs-programmer-back-to-court/
past posts mentioning too big to fail, too big to prosecute, and
too big to jail
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
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virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: Justice Dept. Sues Bank of America Over Mortgage Securities Date: 09 Aug 2013 Blog: Financial Crime Risk, Fraud and SecurityJustice Dept. Sues Bank of America Over Mortgage Securities
fraud on $850m mortgages ... there was over $27T in CDOs done during the bubble ... where is the rest???
Feds: Bank of America defrauded investors of "prime" mortgage
securities
http://www.mcclatchydc.com/2013/08/07/198703/feds-bank-of-america-defrauded.html
Objectors' Siren Song Enchants During Article 77 Proceeding
http://www.subprimeshakeout.com/2013/07/objectors-siren-song-enchants-during-article-77-proceeding.html
Bank of America Escapes Criminal Charges for Securities Fraud
http://therealnews.com/t2/index.php?option=com_content&task=view&id=767&Itemid=74&jumival=10547
more by Black:
Is B of A the Most Embarrassing Department of Justice Suit Ever?
http://therealnews.com/t2/component/content/article/75-william-black/1686-is-b-of-a-the-most-embarrassing-department-of-justice-suit-ever#.UgVKjLKyhBs
The Fraud Shotgun: The Overlapping Fields of Fraudulent Fire that Drove the Crisis
http://econintersect.com/wordpress/?p=39423
additional: With Public Servants Like This, Who Needs Enemies? Or
Frauds?
http://mikenormaneconomics.blogspot.com/2013/08/with-public-servants-like-this-who.html
past posts mentioning toxic CDOs
https://www.garlic.com/~lynn/submisc.html#toxic.cdo
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes Infrastructure investment not bizarre Newsgroups: alt.folklore.computers Date: Sat, 10 Aug 2013 00:27:25 -0400Andrew Swallow <am.swallow@btinternet.com> writes:
a few more ...
Feds: Bank of America defrauded investors of "prime" mortgage
securities
http://www.mcclatchydc.com/2013/08/07/198703/feds-bank-of-america-defrauded.html
Objectors' Siren Song Enchants During Article 77 Proceeding
http://www.subprimeshakeout.com/2013/07/objectors-siren-song-enchants-during-article-77-proceeding.html
Bank of America Escapes Criminal Charges for Securities Fraud
http://therealnews.com/t2/index.php?option=com_content&task=view&id=767&Itemid=74&jumival=10547
more by Black:
Is B of A the Most Embarrassing Department of Justice Suit Ever?
http://therealnews.com/t2/component/content/article/75-william-black/1686-is-b-of-a-the-most-embarrassing-department-of-justice-suit-ever#.UgVKjLKyhBs
The Fraud Shotgun: The Overlapping Fields of Fraudulent Fire that Drove the Crisis
http://econintersect.com/wordpress/?p=39423
additional
With Public Servants Like This, Who Needs Enemies? Or Frauds?
http://mikenormaneconomics.blogspot.com/2013/08/with-public-servants-like-this-who.html
and
Insight: Top Justice officials connected to mortgage banks
http://www.reuters.com/article/2012/01/20/us-usa-holder-mortgage-idUSTRE80J0PH20120120
from above:
U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice
Department's criminal division, were partners for years at a Washington
law firm that represented a Who's Who of big banks and other companies
at the center of alleged foreclosure fraud, a Reuters inquiry shows.
... snip ...
past posts mentioning toxic CDOs
https://www.garlic.com/~lynn/submisc.html#toxic.cdo
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes Infrastructure investment not bizarre Newsgroups: alt.folklore.computers Date: Sat, 10 Aug 2013 10:20:07 -0400re:
too big to fail (too big to prosecute too big to jail) and too
big to fight leaking into popular literature, A Delicate Truth, John le
Carre pg64/loc886-88:
Grim, darling, just appalling. We're clever and nice, but we're
understaffed and underpaid and we want the best for our country, which
is old-fashioned of us. New Labour loves Big Greed, and Big Greed has
armies of amoral lawyers and accountants on the make and pays them the
earth to make rings round us. We can't compete; they're too big to fail
and too big to fight. Now I've depressed you.
... snip ...
past posts mentioning too big to fail
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: Unbuffered glass TTYs? Newsgroups: alt.folklore.computers Date: Sat, 10 Aug 2013 10:37:16 -0400had both hardcopy and video terminals supporting 300 baud ... but moving to 1200 baud ... pretty much all became glass.
for a time I had (hardcopy) 300 baud cdi miniterm ... but then moved to 1200 baud topaz/3101 ... would work in glass tty mode ... but had enough electronics that you could change (physical) switch setting to "block mode" ... sort of a semi-3270 mode. internally there was support written for 3101 block mode ... supporting virtual 3270 ... leveraged the psuedo-device support that had been developed for PVM. had stuff for recognizing multiple blanks and would use convert to cursor positioning to minimize chars. transmitted.
later with ibm/pc ... eventually upgraded to special internal crypto modems and lots of fancy algorithms and caching for minimizing chars transmitted (in both directions)
old pictures of cdi miniterm at home
https://www.garlic.com/~lynn/miniterm.jpg
https://www.garlic.com/~lynn/miniterm2.jpg
pictures of 3101 at home
https://www.garlic.com/~lynn/3101a.jpg
https://www.garlic.com/~lynn/3101b.jpg
other old pictures (including apl selectric typeball)
https://www.garlic.com/~lynn/lhwemail.html#oldpicts
past posts mentioning topax/3101
https://www.garlic.com/~lynn/99.html#69 System/1 ?
https://www.garlic.com/~lynn/2000g.html#17 IBM's mess (was: Re: What the hell is an MSX?)
https://www.garlic.com/~lynn/2001b.html#12 Now early Arpanet security
https://www.garlic.com/~lynn/2001b.html#13 Now early Arpanet security
https://www.garlic.com/~lynn/2001h.html#32 Wanted: pictures of green-screen text
https://www.garlic.com/~lynn/2001m.html#1 ASR33/35 Controls
https://www.garlic.com/~lynn/2001m.html#54 Author seeks help - net in 1981
https://www.garlic.com/~lynn/2003c.html#34 difference between itanium and alpha
https://www.garlic.com/~lynn/2003c.html#35 difference between itanium and alpha
https://www.garlic.com/~lynn/2003n.html#7 3270 terminal keyboard??
https://www.garlic.com/~lynn/2004e.html#8 were dumb terminals actually so dumb???
https://www.garlic.com/~lynn/2005p.html#28 Canon Cat for Sale
https://www.garlic.com/~lynn/2005r.html#12 Intel strikes back with a parallel x86 design
https://www.garlic.com/~lynn/2006n.html#56 AT&T Labs vs. Google Labs - R&D History
https://www.garlic.com/~lynn/2006y.html#0 Why so little parallelism?
https://www.garlic.com/~lynn/2006y.html#4 Why so little parallelism?
https://www.garlic.com/~lynn/2006y.html#24 "The Elements of Programming Style"
https://www.garlic.com/~lynn/2006y.html#31 "The Elements of Programming Style"
https://www.garlic.com/~lynn/2007e.html#15 The Genealogy of the IBM PC
https://www.garlic.com/~lynn/2007h.html#39 sizeof() was: The Perfect Computer - 36 bits?
https://www.garlic.com/~lynn/2007k.html#40 DEC and news groups
https://www.garlic.com/~lynn/2007t.html#74 What do YOU call the # sign?
https://www.garlic.com/~lynn/2008l.html#79 Book: "Everyone Else Must Fail" --Larry Ellison and Oracle ???
https://www.garlic.com/~lynn/2008m.html#37 Baudot code direct to computers?
https://www.garlic.com/~lynn/2008m.html#38 Baudot code direct to computers?
https://www.garlic.com/~lynn/2008m.html#51 Baudot code direct to computers?
https://www.garlic.com/~lynn/2008m.html#88 Sustainable Web
https://www.garlic.com/~lynn/2008n.html#51 Baudot code direct to computers?
https://www.garlic.com/~lynn/2008r.html#5 What if the computers went back to the '70s too?
https://www.garlic.com/~lynn/2008s.html#22 IBM PC competitors
https://www.garlic.com/~lynn/2009c.html#30 I need magic incantation for a power conditioner
https://www.garlic.com/~lynn/2009d.html#13 Typewrite repair?
https://www.garlic.com/~lynn/2009g.html#45 Netbooks: A terminal by any other name
https://www.garlic.com/~lynn/2009h.html#32 My Vintage Dream PC
https://www.garlic.com/~lynn/2009j.html#40 My "Green Screen" IBMLink is still working
https://www.garlic.com/~lynn/2009j.html#66 A Complete History Of Mainframe Computing
https://www.garlic.com/~lynn/2009l.html#27 August 7, 1944: today is the 65th Anniversary of the Birth of the Computer
https://www.garlic.com/~lynn/2009n.html#9 Existence of early 360 software ( was Re: Continous Systems Modelling Packa
https://www.garlic.com/~lynn/2009r.html#63 tty
https://www.garlic.com/~lynn/2009s.html#0 tty
https://www.garlic.com/~lynn/2010b.html#27 Happy DEC-10 Day
https://www.garlic.com/~lynn/2010c.html#46 Mythical computers and magazine reviews
https://www.garlic.com/~lynn/2010c.html#85 Apple iPad -- this merges with folklore
https://www.garlic.com/~lynn/2010d.html#14 Happy DEC-10 Day
https://www.garlic.com/~lynn/2010d.html#74 Adventure - Or Colossal Cave Adventure
https://www.garlic.com/~lynn/2010j.html#75 What is the protocal for GMT offset in SMTP (e-mail) header
https://www.garlic.com/~lynn/2011d.html#15 I actually miss working at IBM
https://www.garlic.com/~lynn/2011g.html#28 program coding pads
https://www.garlic.com/~lynn/2011h.html#38 Happy 100th Birthday, IBM!
https://www.garlic.com/~lynn/2012m.html#25 Singer Cartons of Punch Cards
https://www.garlic.com/~lynn/2012m.html#27 Singer Cartons of Punch Cards
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: OSI: The Internet That Wasn't Newsgroups: alt.folklore.computers Date: Sat, 10 Aug 2013 18:15:17 -0400Peter Flass <Peter_Flass@Yahoo.com> writes:
about the time i was doing rfc1044, there was presentation at IETF meeting for gigabit router cutting minimum pathlength from about 120 instructions to about 80 instructions.
this vm/370 implementation was ported to MVS by emulating some vm370 functions.
later communication group hired contractor to do tcp/ip stack in vtam. he initially demo'ed with tcp much faster than lu6.2 and the communication group told him that everybody "knows" that a "correct" implementation of tcp/ip is slower than lu6.2 ... and they would only be paying for a "correct" implementation.
at that time vtam lu6.2 did 14 buffer copies and had a 160,000 instruction pathlength ... (for something like 8k buffer, on a fast machine, buffer copy hit to caches could take more processor cycles than the straight instruction count). about the same time, a comparable unix (bsd) implementation did 5 buffer copies and had 5,000 instruction pathlength.
misc. past posts mentioning lu6.2, buffer copies
and pathlength
https://www.garlic.com/~lynn/98.html#34 ... cics ... from posting from another list
https://www.garlic.com/~lynn/2003j.html#2 Fix the shuttle or fly it unmanned
https://www.garlic.com/~lynn/2004o.html#60 JES2 NJE setup
https://www.garlic.com/~lynn/2005p.html#15 DUMP Datasets and SMS
https://www.garlic.com/~lynn/2006l.html#53 Mainframe Linux Mythbusting (Was: Using Java in batch on z/OS?)
https://www.garlic.com/~lynn/2006m.html#0 Mainframe Linux Mythbusting
https://www.garlic.com/~lynn/2008d.html#1 What happened to resumable instructions?
https://www.garlic.com/~lynn/2009l.html#17 SNA: conflicting opinions
https://www.garlic.com/~lynn/2011p.html#94 Has anyone successfully migrated off mainframes?
https://www.garlic.com/~lynn/2012n.html#68 Should you support or abandon the 3270 as a User Interface?
past posts in this thread:
https://www.garlic.com/~lynn/2013j.html#64 OSI: The Internet That Wasn't
https://www.garlic.com/~lynn/2013j.html#65 OSI: The Internet That Wasn't
https://www.garlic.com/~lynn/2013j.html#66 OSI: The Internet That Wasn't
https://www.garlic.com/~lynn/2013j.html#67 OSI: The Internet That Wasn't
https://www.garlic.com/~lynn/2013j.html#68 OSI: The Internet That Wasn't
https://www.garlic.com/~lynn/2013j.html#69 OSI: The Internet That Wasn't
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: copyright protection/Doug Englebart Newsgroups: alt.folklore.computers Date: Sun, 11 Aug 2013 09:14:28 -0400greymausg <maus@mail.com> writes:
STL is at the south end of silicon valley and the north end of coyote valley. Originally, it was going to be named Coyote lab (after convention for naming for the closest post-office) ... but just before it opened there were demonstrations by an organization of working ladies from San Francisco called Coyote, on the steps of the US Capital bldg .. and it was quickly renamed Santa Teresa after the closest cross-street.
A mile or two south of STL on Santa Teresa is a large mushroom growing operation ... and then Santa Teresa continues on south to Morgan Hill (the mushroom capital of the world) passing more mushroom growing operations.
Santa Teresa continues on south to Gilroy, the garlic capital of the world. In the mornings with the valley wind blowing north towards the bay, you could come out of the house and be hit in the face with the smell of the garlic fields
as an aside ... go west of Gilroy over Hecker pass to Watsonville on Monterey bay where lots of the country's strawberries come from ... and then continue south towards Salinas and Carmel are lots of fields of all sorts, artichokes, lettuce, etc
Past post mentioning Coyote valley:
https://www.garlic.com/~lynn/2000b.html#56 South San Jose (was Tysons Corner, Virginia)
https://www.garlic.com/~lynn/2000e.html#20 Is Al Gore The Father of the Internet?^
https://www.garlic.com/~lynn/2001g.html#34 Did AT&T offer Unix to Digital Equipment in the 70s?
https://www.garlic.com/~lynn/2001g.html#37 Thread drift: Coyote Union (or Coyote Ugly?)
https://www.garlic.com/~lynn/2001i.html#11 YKYGOW...
https://www.garlic.com/~lynn/2002j.html#6 HONE was .. Hercules and System/390 - do we need it?
https://www.garlic.com/~lynn/2002n.html#66 Mainframe Spreadsheets - 1980's History
https://www.garlic.com/~lynn/2002o.html#11 Home mainframes
https://www.garlic.com/~lynn/2002o.html#69 So I tried this //vm.marist.edu stuff on a slow Sat. night,
https://www.garlic.com/~lynn/2003b.html#63 When/why did "programming" become "software development?"
https://www.garlic.com/~lynn/2003e.html#60 reviving Multics -- Computer Museum
https://www.garlic.com/~lynn/2003i.html#25 TGV in the USA?
https://www.garlic.com/~lynn/2003m.html#14 Seven of Nine
https://www.garlic.com/~lynn/2003o.html#10 IS CP/M an OS?
https://www.garlic.com/~lynn/2003p.html#32 Mainframe Emulation Solutions
https://www.garlic.com/~lynn/2004c.html#31 Moribund TSO/E
https://www.garlic.com/~lynn/2004e.html#12 Pre-relational, post-relational, 1968 CODASYL "Survey of Data Base Systems"
https://www.garlic.com/~lynn/2004m.html#6 a history question
https://www.garlic.com/~lynn/2005.html#25 Network databases
https://www.garlic.com/~lynn/2005m.html#21 Old Computers and Moisture don't mix - fairly OT
https://www.garlic.com/~lynn/2005m.html#22 Old Computers and Moisture don't mix - fairly OT
https://www.garlic.com/~lynn/2006.html#21 IBM up for grabs?
https://www.garlic.com/~lynn/2006.html#24 IBM up for grabs?
https://www.garlic.com/~lynn/2006r.html#21 50th Anniversary of invention of disk drives
https://www.garlic.com/~lynn/2007e.html#34 Is computer history taught now?
https://www.garlic.com/~lynn/2007g.html#62 The Perfect Computer - 36 bits?
https://www.garlic.com/~lynn/2008k.html#68 Historian predicts the end of 'science superpowers'
https://www.garlic.com/~lynn/2009i.html#63 64 Cores -- IBM is showing a prototype already
https://www.garlic.com/~lynn/2009n.html#16 Mainframe Hall of Fame: Three New Members Added
https://www.garlic.com/~lynn/2009n.html#19 Mainframe Hall of Fame: Three New Members Added
https://www.garlic.com/~lynn/2009q.html#45 The 50th Anniversary of the Legendary IBM 1401
https://www.garlic.com/~lynn/2011c.html#46 If IBM Hadn't Bet the Company
https://www.garlic.com/~lynn/2011d.html#54 Maybe off topic
https://www.garlic.com/~lynn/2011j.html#9 program coding pads
https://www.garlic.com/~lynn/2012.html#84 Where are all the old tech workers?
https://www.garlic.com/~lynn/2012b.html#11 The PC industry is heading for collapse
https://www.garlic.com/~lynn/2013g.html#27 Old data storage or data base
https://www.garlic.com/~lynn/2013g.html#61 What Makes a bridge Bizarre?
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sun, 11 Aug 2013 09:55:05 -0400Lon <lon.stowell@comcast.net> writes:
the growing PC market squashed that business ... and he went on to become VP of software development at MIPS and then general manager of a SUN business unit (that included responsibility for JAVA).
past reference to comparison of 3277/3272 terminal/controller
combination to 3278/3274 combination (along with some TSO/CMS comparison
reference)
https://www.garlic.com/~lynn/2001m.html#19 3270 protocol
Almost immediately after opening, STL is bursting at the seams ...
recent STL opening reference:
https://www.garlic.com/~lynn/2013k.html#18 copyright protection/Doug Englebart
and they are moving 300 people from the IMS group to off-site bldg. The IMS group are offered "remote" 3270 (sna) back to the STL datacenter ... but they found the human factors horrible. They were use to local channel attached 3270 CMS response (aka they use CMS for MVS/IMS development). I get con'ed into doing channel extender support ... putting local channel attached 3270s at the remote bldg. They find no difference between remote local channel attached 3270s and channel attached 3270s at STL.
the vendor tries to get approval to ship my support ... but there are some people in POK that are playing with serial fiber stuff that manage to get it veto'ed ... they are worried if it was in the market, it might inhibit getting their work released.
having done that channel extender support was somewhat reason in 1988 I was asked if I could help LLNL standardize some serial stuff they had ... this eventually turns into Fibre Channel Standard (FCS) ... about the same time that the old POK serial stuff ships with ES/9000 as ESCON (by the time it ships, it is already obsolete).
some POK channel engineers then become involved in FCS and define a
heavy-weight layer that enormously cuts the throughput of the underlying
native FCS throughput ... which eventually ships as FICON. past posts
mentioning FICON
https://www.garlic.com/~lynn/submisc.html#ficon
some recent posts mentioning doing channel extender for
STL in 1980
https://www.garlic.com/~lynn/2013g.html#2 A Complete History Of Mainframe Computing
https://www.garlic.com/~lynn/2013g.html#3 A Complete History Of Mainframe Computing
https://www.garlic.com/~lynn/2013g.html#14 Tech Time Warp of the Week: The 50-Pound Portable PC, 1977
https://www.garlic.com/~lynn/2013g.html#23 Old data storage or data base
https://www.garlic.com/~lynn/2013g.html#24 Old data storage or data base
https://www.garlic.com/~lynn/2013g.html#45 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013g.html#85 Old data storage or data base
https://www.garlic.com/~lynn/2013h.html#42 The Mainframe is "Alive and Kicking"
https://www.garlic.com/~lynn/2013h.html#80 Minicomputer Pricing
https://www.garlic.com/~lynn/2013i.html#37 The Subroutine Call
https://www.garlic.com/~lynn/2013i.html#47 Making mainframe technology hip again
https://www.garlic.com/~lynn/2013i.html#50 The Subroutine Call
https://www.garlic.com/~lynn/2013i.html#59 Making mainframe technology hip again
https://www.garlic.com/~lynn/2013i.html#63 Making mainframe technology hip again
https://www.garlic.com/~lynn/2013j.html#86 IBM unveils new "mainframe for the rest of us"
some recent posts mentioning pascal:
https://www.garlic.com/~lynn/2013.html#27 Java Security?
https://www.garlic.com/~lynn/2013.html#28 Java Security?
https://www.garlic.com/~lynn/2013.html#29 Java Security?
https://www.garlic.com/~lynn/2013.html#31 Java Security?
https://www.garlic.com/~lynn/2013b.html#21 New HD
https://www.garlic.com/~lynn/2013b.html#60 New HD
https://www.garlic.com/~lynn/2013b.html#71 New HD
https://www.garlic.com/~lynn/2013c.html#53 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013c.html#75 Still not convinced about the superiority of mainframe security vs distributed?
https://www.garlic.com/~lynn/2013c.html#79 Still not convinced about the superiority of mainframe security vs distributed?
https://www.garlic.com/~lynn/2013g.html#87 Old data storage or data base
https://www.garlic.com/~lynn/2013h.html#34 CLECs, Barbara, and the Phone Geek
https://www.garlic.com/~lynn/2013h.html#80 Minicomputer Pricing
https://www.garlic.com/~lynn/2013i.html#11 EBCDIC and the P-Bit
https://www.garlic.com/~lynn/2013i.html#42 Theology question: Parameter formats
https://www.garlic.com/~lynn/2013i.html#43 Theology question: Parameter formats
https://www.garlic.com/~lynn/2013i.html#52 Internet Mainframe Forums Considered Harmful
https://www.garlic.com/~lynn/2013i.html#71 Future of COBOL based on RDz policies was Re: RDz or RDzEnterprise developers
https://www.garlic.com/~lynn/2013k.html#17 OSI: The Internet That Wasn't
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: JPMorgan Nears Settlement on 'London Whale' Case Date: 11 Aug 2013 Blog: Financial Crime Risk, Fraud and SecurityS.E.C. Is Said to Press JPMorgan for an Admission of Wrongdoing
JPMorgan Nears Settlement With SEC on London Whale Loss
http://www.bloomberg.com/news/2013-08-08/jpmorgan-nears-settlement-with-sec-on-london-whale-loss.html
Authorities Plan to Arrest 2 Former JPMorgan Employees in London Whale Case
http://dealbook.nytimes.com/2013/08/09/authorities-set-to-arrest-2-former-jpmorgan-employees-in-london-whale-case/?_r=0
a lot more discussion here:
http://www.zerohedge.com/news/2013-08-10/two-former-jpmorgan-london-whale-traders-are-about-be-arrested
posts mentioning too big to fail
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: Justice Dept. Sues Bank of America Over Mortgage Securities Date: 11 Aug 2013 Blog: Financial Crime Risk, Fraud and Securityre:
more from black here: Bill Black On The DoJ's Seven Biggest 'Fails' In
The BofA Lawsuit
http://www.zerohedge.com/news/2013-08-10/bill-black-dojs-seven-biggest-fails-bofa-lawsuit
posts mentioning too big to fail
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
posts mentioning toxic CDOs
https://www.garlic.com/~lynn/submisc.html#toxic.cdo
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: Why DOJ Deemed Bank Execs Too Big To Jail Date: 11 Aug 2013 Blog: Financial Crime Risk, Fraud and Securityre:
Insight: Top Justice officials connected to mortgage banks
http://www.reuters.com/article/2012/01/20/us-usa-holder-mortgage-idUSTRE80J0PH20120120
from above:
U.S. Attorney General Eric Holder and Lanny Breuer, head of the
Justice Department's criminal division, were partners for years at a
Washington law firm that represented a Who's Who of big banks and
other companies at the center of alleged foreclosure fraud, a Reuters
inquiry shows.
... snip ...
too big to fail (too big to prosecute too big to jail) and too
big to fight leaking into popular literature, A Delicate Truth, John
le Carre pg64/loc886-88:
Grim, darling, just appalling. We're clever and nice, but we're
understaffed and underpaid and we want the best for our country, which
is old-fashioned of us. New Labour loves Big Greed, and Big Greed has
armies of amoral lawyers and accountants on the make and pays them the
earth to make rings round us. We can't compete; they're too big to
fail and too big to fight. Now I've depressed you.
... snip ...
post mentioning too big to fail
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: copyright protection/Doug Englebart Newsgroups: alt.folklore.computers Date: Sun, 11 Aug 2013 12:31:43 -0400Michael Black <et472@ncf.ca> writes:
Call Off Your Old Tired Ethics
https://en.wikipedia.org/wiki/COYOTE
disclaimer: had taken the kids to DC the week Coyote was demonstrating on the steps of the capital.
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sun, 11 Aug 2013 20:16:17 -0400Lawrence Statton <lawrence@cluon.com> writes:
old email about trying to get ASCII APL translate tables correct for
bit-pairing & type-pairing ascii displays
https://www.garlic.com/~lynn/2006y.html#email800301
in this past post discussion glass tty & topaz/3101
https://www.garlic.com/~lynn/2006y.html#0
which also has this other old email about vm370 tty support
https://www.garlic.com/~lynn/2006y.html#email791011
https://www.garlic.com/~lynn/2006y.html#email791011b
part of the issue was that cms virtual machine was doing terminal input/output to a virtual 3215 hardcopy terminal ... that was then mapped to various different kinds of real terminals (3270s, various kinds of glass tty, etc).
one of the issues was that CMS wrote one line at a time to the virtual 3215 ... so that there was lots of interaction back & forth between CMS & VM370s for emulated terminal output. One of the above emails mention that I did modifications to the CMS terminal interface program (DMSCIT) to change to write multiple lines in a single I/O ... which could significantly reduce the number of back & forth going on between CMS virtual machines and VM370.
It also mentions VM370 "diag 58" ... which was "full screen 3270 i/o" ... which was used by CMS fullscreen applications like XEDIT (when dealing with real 3270 terminals).
a couple other posts mentioning DMSCIT changes
https://www.garlic.com/~lynn/2006q.html#11 what's the difference between LF(Line Fee) and NL (New line) ?
https://www.garlic.com/~lynn/2009s.html#0 tty
this
https://www.garlic.com/~lynn/2003c.html#35 difference between itanium and alpha
has this old email discussing overall system performance improvement
from the DMSCIT chained CCW change.
https://www.garlic.com/~lynn/2003c.html#email790329
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sun, 11 Aug 2013 20:48:46 -0400re:
a later email about the cms (dmscit) change
https://www.garlic.com/~lynn/2001f.html#email830420
in this post
https://www.garlic.com/~lynn/2001f.html#57
discussing it and some other changes to improve performance.
part of the discussion was some major changes from vm/370 to vm/sp that resulted in significant performance degradation for many customers ... which was partially masked by some other changes about how 3270 terminal i/o was handled. however as mentioned ... there were some number of customers that didn't have 3270 terminals ... were all tty/ascii ... where the performance degradation was much more evident.
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: The agency problem and how to create a criminogenic environment Date: 12 Aug 2013 Blog: Financial Crime Risk, Fraud and SecurityThe agency problem and how to create a criminogenic environment
The above has the following comment:
Notice how strongly they wrote their conclusion -- savings and loan
(S&L) deregulation was "bound to produce looting."
with regard to
"The S&L crisis, however, was also caused by misunderstanding. Neither
the public nor economists foresaw that the regulations of the 1980s
were bound to produce looting. Nor, unaware of the concept, could they
have known how serious it would be. Thus the regulators in the field
who understood what was happening from the beginning found lukewarm
support, at best, for their cause. Now we know better. If we learn
from experience, history need not repeat itself" (Akerlof & Romer
1993: 60).
... snip ...
Note that the original regulator refused to eliminate regulation and cut the S&L reserves requirements in half. He was then asked to resign to be replaced by somebody who would do what the president asked.
supporting lots of press about recent increased regulatory "capture", too big to prosecute, too big to jail, etc ... there were over 700 that did jail time in the S&L crisis ... but while the most recent economic mess has been much worse, there has been nobody doing jail time
past posts mentioning too big to fail, too big to prosecute,
too big to jail, etc
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
The Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the
Great Credit Crash
https://www.amazon.com/Two-Trillion-Dollar-Meltdown-Rollers-ebook/dp/B0097DE7DM/
loc655-67:
By the time Pratt had finished, it was possible for a single
individual to take control of an S&L, then organize and lend to
multiple subsidiaries -- for land acquisition, construction, building
management, and the like -- and create his own small real estate
empire entirely with depositors' money.
loc657-58:
Or more commonly, to pretend to create a real estate empire while
siphoning deposits into, say, personal jet planes, a favorite in
Texas.
loc660-61:
Another owner with a $1.8 billion loan book had bought six Learjets
before the Feds noticed that 96 percent of his loans were delinquent.
... snip ...
another work on the subject:
The Best Way to Rob a Bank Is to Own One: How Corporate Executives and
Politicians Looted the S&L Industry
https://www.amazon.com/Best-Way-Rob-Bank-Own-ebook/dp/B00H5B9Z80/
recent blog post referencing Galbraith's "Innocent Fraud"
https://en.wikipedia.org/wiki/The_Economics_of_Innocent_Fraud
and Black's "Control Fraud"
https://en.wikipedia.org/wiki/Control_fraud
Privatization Of Protection Rackets
http://mikenormaneconomics.blogspot.com/2013/08/privatization-of-protection-rackets.html
Teaching White-Collar Crime
http://www.therealnews.com/t2/component/content/article/75-william-black/1688-teaching-white-collar-crime
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: Unbuffered glass TTYs? Newsgroups: alt.folklore.computers Date: Tue, 13 Aug 2013 10:27:45 -0400Peter Flass <Peter_Flass@Yahoo.com> writes:
one of the early ones was JES2 networking ... which couldn't even get announced because there was no price point where projected customers would cover costs. gimmick was to announce combine JES2 & VM370 network product ... where vm370 networking revenue subsidized JES2 costs.
while in the JES2 networking case ... at least both products were
networking ... and vm370 networking even provided a driver that
could talk JES2 networking (although the vm370 native networking
driver was more efficient and had higher throughput). misc. past
posts mentioning HASP & JES2
https://www.garlic.com/~lynn/submain.html#hasp
In the ISPF case ... at the time, they had 200 developers ... and ISPF revenue never came close to covering costs. They combined it with vm370 performance products (not even remotely related) ... and cut vm370 performance products group back to 3 people ... in order for the combined revenue to cover the ISPF costs.
misc. past posts mentioning ISPF
https://www.garlic.com/~lynn/2000d.html#17 Where's all the VMers?
https://www.garlic.com/~lynn/2001m.html#33 XEDIT on MVS
https://www.garlic.com/~lynn/2002m.html#52 Microsoft's innovations [was:the rtf format]
https://www.garlic.com/~lynn/2003k.html#0 VSPC
https://www.garlic.com/~lynn/2003o.html#42 misc. dmksnt
https://www.garlic.com/~lynn/2004c.html#26 Moribund TSO/E
https://www.garlic.com/~lynn/2004g.html#43 Sequence Numbbers in Location 73-80
https://www.garlic.com/~lynn/2005j.html#7 TSO replacement?
https://www.garlic.com/~lynn/2005j.html#8 TSO replacement?
https://www.garlic.com/~lynn/2005q.html#15 HASP/ASP JES/JES2/JES3
https://www.garlic.com/~lynn/2005t.html#40 FULIST
https://www.garlic.com/~lynn/2006k.html#50 TSO and more was: PDP-1
https://www.garlic.com/~lynn/2006o.html#21 Source maintenance was Re: SEQUENCE NUMBERS
https://www.garlic.com/~lynn/2006p.html#13 What part of z/OS is the OS?
https://www.garlic.com/~lynn/2006s.html#3 THE on USS?
https://www.garlic.com/~lynn/2007g.html#4 ISPF Limitations (was: Need for small machines ... )
https://www.garlic.com/~lynn/2007g.html#5 Call for XEDIT freaks, submit ISPF requirements
https://www.garlic.com/~lynn/2007g.html#14 ISPF not productive
https://www.garlic.com/~lynn/2007g.html#50 IBM to the PCM market
https://www.garlic.com/~lynn/2007h.html#8 whiny question: Why won't z/OS support the HMC 3270 emulator
https://www.garlic.com/~lynn/2007o.html#69 ServerPac Installs and dataset allocations
https://www.garlic.com/~lynn/2007t.html#40 Why isn't OMVS command integrated with ISPF?
https://www.garlic.com/~lynn/2008h.html#43 handling the SPAM on this group
https://www.garlic.com/~lynn/2008m.html#62 CHROME and WEB apps on Mainframe?
https://www.garlic.com/~lynn/2009l.html#59 ISPF Counter
https://www.garlic.com/~lynn/2009l.html#60 ISPF Counter
https://www.garlic.com/~lynn/2009s.html#46 DEC-10 SOS Editor Intra-Line Editing
https://www.garlic.com/~lynn/2010g.html#6 Call for XEDIT freaks, submit ISPF requirements
https://www.garlic.com/~lynn/2010g.html#7 Call for XEDIT freaks, submit ISPF requirements
https://www.garlic.com/~lynn/2010g.html#50 Call for XEDIT freaks, submit ISPF requirements
https://www.garlic.com/~lynn/2010g.html#51 Call for XEDIT freaks, submit ISPF requirements
https://www.garlic.com/~lynn/2010k.html#54 Unix systems and Serialization mechanism
https://www.garlic.com/~lynn/2010m.html#84 Set numbers off permanently
https://www.garlic.com/~lynn/2010o.html#33 Why are TSO IDs limited to 7 characters
https://www.garlic.com/~lynn/2010o.html#85 REXX "address" environments
https://www.garlic.com/~lynn/2010p.html#30 Philosophy: curiousity question
https://www.garlic.com/~lynn/2011.html#32 CMS Sort Descending?
https://www.garlic.com/~lynn/2011h.html#19 When is performance really an issue? Was: Running an ISPF applicction from one pds
https://www.garlic.com/~lynn/2011h.html#20 When is performance really an issue? Was: Running an ISPF applicction from one pds
https://www.garlic.com/~lynn/2011m.html#42 CMS load module format
https://www.garlic.com/~lynn/2011o.html#21 The "IBM Displays" Memory Lane (Was: TSO SCREENSIZE)
https://www.garlic.com/~lynn/2011p.html#84 Is there an SPF setting to turn CAPS ON like keyboard key?
https://www.garlic.com/~lynn/2011p.html#106 SPF in 1978
https://www.garlic.com/~lynn/2012.html#53 Has anyone successfully migrated off mainframes?
https://www.garlic.com/~lynn/2012b.html#85 The PC industry is heading for collapse
https://www.garlic.com/~lynn/2012d.html#19 Writing article on telework/telecommuting
https://www.garlic.com/~lynn/2012d.html#20 Writing article on telework/telecommuting
https://www.garlic.com/~lynn/2012e.html#63 Typeface (font) and city identity
https://www.garlic.com/~lynn/2012f.html#53 Image if someone built a general-menu-system
https://www.garlic.com/~lynn/2012k.html#33 Using NOTE and POINT simulation macros on CMS?
https://www.garlic.com/~lynn/2012n.html#64 Should you support or abandon the 3270 as a User Interface?
https://www.garlic.com/~lynn/2013e.html#84 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013i.html#36 The Subroutine Call
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: Flag bloat Date: 15 Aug 2013 Blog: Disciples of Boyd's StrategyFlag bloat
In briefings, Boyd would contrast the percent of officers in WW2 US military at 11% (growing to 20%) with Germany's 3%. His description was that at entry to WW2, the US military had to deploy a large number of with little or no experience and used a rigid, top-down, command&control infrastructure to leverage the few skills available ... and large number of officers were required for that type of infrastructure.
There is intersection of rigid top-down command&control structure to leverage scarce skills & experience at the very top ... and implicit assumption that only those at the top know what they are doing in rigid top-down command&control structure.
Boyd would claim that former WW2 military officers were starting to contaminate US corporate culture ... based on their training for rigid, top-down command & control structure and only those at the very top know what they are doing.
This gets into explanation for ratio of avg. top executive compensation to avg. worker compensation exploding to over 400:1 ... after being 20:1 for a long time. It also becomes self-fulfilling prophecy ... firing skilled resources and replacing with large number of poorly paid inexperienced workers. The other use for large number of officers is the MICC revolving door. Long winded post over in facebook discussion ... getting into some intersection of financial mess, privatizing of intelligence, and MICC revolving door (longer than linkedin single post limit)
Gerstner was in competition to be next CEO of AMEX. The looser leaves
and takes his protege with him. They go to Baltimore and this
description has them taking over a loan sharking business
http://www.counterpunch.org/2012/05/15/why-jamie-dimons-2-billion-gambling-loss-will-not-speed-financial-reform/
They do some number of other take-overs and eventual acquire Citibank
in violation of Glass-Steagall. Greenspan gives them an exemption
while they lobby congress for repeal of Glass-Steagall, creating
too-big-to-fail. on times list of those responsible
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877329,00.html
The protege then leaves to head up another too-big-to-fail
AMEX & KKR are in competition for reverse-IPO (leveraged buyout,
private-equity take-over) of RJR. KKR wins but runs into some trouble
and hires away Gerstner to turn around RJR. IBM has gone into the red
and had been re-organized into the 13 "baby blues" in preparation for
breakup. IBM board hires Gerstner away to resurrect IBM (and reverse
the break-up). Gerstner later leaves IBM to become head of another
large private equity company ... which then does reverse-IPO
(private-equity buyout) of Booz-Allen.
http://mikenormaneconomics.blogspot.com/2013/08/privatization-of-protection-rackets.html
another This Independent Technical Review Group Brought to You By the
Booz Allen Hamilton Director of National Intelligence
http://www.emptywheel.net/2013/08/12/this-technical-review-group-brought-to-you-by-the-booz-allen-hamilton-director-of-national-intelligence/
no.2 on times list of those responsible for economic mess (both repeal of Glass-Steagall and preventing CDSs from being regulated ... in conjunction with his wife)
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html
Gramm and the 'Enron Loophole'
http://www.nytimes.com/2008/11/17/business/17grammside.html
Enron was a major contributor to Mr. Gramm's political campaigns, and
Mr. Gramm's wife, Wendy, served on the Enron board, which she joined
after stepping down as chairwoman of the Commodity Futures Trading
Commission.
Phil Gramm's Enron Favor
https://web.archive.org/web/20080711114839/http://www.villagevoice.com/2002-01-15/news/phil-gramm-s-enron-favor/
A few days after she got the ball rolling on the exemption, Wendy
Gramm resigned from the commission. Enron soon appointed her to its
board of directors, where she served on the audit committee, which
oversees the inner financial workings of the corporation. For this,
the company paid her between $915,000 and $1.85 million in stocks and
dividends, as much as $50,000 in annual salary, and $176,000 in
attendance fees,
Greenspan Slept as Off-Books Debt Escaped Scrutiny
http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=aYJZOB_gZi0I
That same year Greenspan, Treasury Secretary Robert Rubin and SEC
Chairman Arthur Levitt opposed an attempt by Brooksley Born, head of
the Commodity Futures Trading Commission, to study regulating
over-the-counter derivatives. In 2000, Congress passed a law keeping
them unregulated.
Brooksley was fairly quickly replaced by Wendy Gramm as head of
Commodity Futures Trading Commission, before Wendy then resigns to
join Enron's board (after legislation passes preventing
regulation). Rubin having aided in repeal of Glass-Steagall, resigns
to become co-CEO of Citi
KKR
https://en.wikipedia.org/wiki/Kohlberg_Kravis_Roberts
recently shows up again here
http://dealbook.nytimes.com/2013/05/30/k-k-r-hires-petraeus/
About the time IBM is going into the red and preparing to be split up
(prior to being resurrected by Gerstner), AMEX spins off much of its
dataprocessing in the largest IPO (up until that point) as FDC
https://en.wikipedia.org/wiki/First_Data
in late 90s, FDC merges with First Financial which includes Western Union. With the big increase in foreign workers sending their salaries home, by 2005, Western Union accounts for half FDC revenue ... and is spun off in IPO. FDC corporate is then lop'ed off and KKR does private equity take-over of the remainder of FDC in the largest reverse-IPO (up until that point, 15yrs after having been the largest IPO).
Disclaimer ... some of the early description here has been garbled:
https://web.archive.org/web/20190524015712/http://www.ibmsystemsmag.com/mainframe/stoprun/Stop-Run/Making-History/
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: The agency problem and how to create a criminogenic environment Date: 15 Aug 2013 Blog: FacebookThe agency problem and how to create a criminogenic environment
The above has the following comment:
Notice how strongly they wrote their conclusion -- savings and loan (S&L) deregulation was "bound to produce looting."
with regard to
"The S&L crisis, however, was also caused by misunderstanding. Neither
the public nor economists foresaw that the regulations of the 1980s
were bound to produce looting. Nor, unaware of the concept, could they
have known how serious it would be. Thus the regulators in the field
who understood what was happening from the beginning found lukewarm
support, at best, for their cause. Now we know better. If we learn
from experience, history need not repeat itself" (Akerlof & Romer
1993: 60).
... snip ...
Note that the original regulator refused to eliminate regulation and cut the S&L reserves requirements in half. He was then asked to resign to be replaced by somebody who would do what the president asked.
... and in support of lots of press about recent increased regulatory "capture", too-big-to-prosecute, too-big-to-jail, etc ... there were over 700 that did jail time in the S&L crisis ... but while the most recent economic mess has been much worse, there has been nobody doing jail time
The Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the
Great Credit Crash
https://www.amazon.com/Two-Trillion-Dollar-Meltdown-Rollers-ebook/dp/B0097DE7DM/
loc655-67:
By the time Pratt had finished, it was possible for a
single individual to take control of an S&L, then organize and lend to
multiple subsidiaries -- for land acquisition, construction, building
management, and the like -- and create his own small real estate
empire entirely with depositors' money.
... snip ...
I've heard the regulator & his predecessor agree that he caused the
S&L crisis (eliminated regulations and cut reserve requirements in
half) ... and go into additional detail ... and was amply rewarded by
wallstreet afterwards ... in similar way that several of the
legislative and regulatory players in the recent economic mess were
rewarded. During the S&L crisis, there had been some use of
securitized mortgages to obfuscate fraud ... but w/o triple-A rating
there was little market. In the late 90s, we were asked to look at
improving the integrity of the supporting documents in securitized
mortgages (as countermeasure to that kind of fraud). However, when the
loan originators found they could pay for triple-A rating, they found
they no longer had to worry about borrower's qualifications, loan
quality and/or supporting documents (and elimination of supporting
documents eliminated issue of their integrity ... as well as later
resulting in robo-signing fraud). Being able to pay for triple-A
rating (when both the sellers and the rating agencies knew they
weren't worth triple-A ... from Oct2008 hearings) also greatly
expanded the market to include institutions restricted to dealing in
"safe" investments (like large institutional retirement funds)
... contributing significantly to over $27T being done during the
bubble:
Evil Wall Street Exports Boomed With 'Fools' Born to Buy Debt
https://www.bloomberg.com/news/articles/2008-10-27/evil-wall-street-exports-boomed-with-fools-born-to-buy-debt
There was significant fees, commissions and skim all long the toxic CDOs value chain which is claimed to be the basis that the financial services industry increased by factor of 300% (as percent of GDP) during the bubble.
Note part of Black's view may because he was involved in investigating
and prosecuting S&L fraud.
https://www.amazon.com/Best-Way-Rob-Bank-Own-ebook/dp/B00H5B9Z80/
Rhetoric in congress abut passage of Sarbanes-Oxley was that it would prevent future ENRON & Worldcom ... and guarantee that top CEOs and auditors would do jail time ... but it required SEC to do something. However, possibly GAO thought that SEC wasn't doing anything, GAO started doing reports of fraudulent financial filings that even showed increase after SOX (and nobody has done jail time). SOX also required that SEC do something about rating agencies that played pivotal role in economic mess, loans&mortgages moved from regulated depository institutions to mostly unregulated loan originators funded by triple-A rated toxic CDOs. SEC not doing anything also shows up in Madoff hearings that had person that had tried unsuccessfully for a decade to get SEC to do something (about Madoff, things were forced when Madoff turned himself in).
Another factor regarding economists ... "Inside Job" references how
leading economists were captured similar to the capture of the
regulatory agencies.
https://en.wikipedia.org/wiki/Inside_Job_(2010_film)
"Economists and the Powerful: Convenient Theories, Distorted Facts,
Ample Rewards" goes into the capture of economists in more detail
https://www.amazon.com/Economists-Powerful-Convenient-Distorted-Economics-ebook/dp/B01B4X4KOS/
loc72-74:
"Only through having been caught so blatantly with their noses in the
troughs (e.g. the 2011 Academy Award -- winning documentary Inside
Job) has the American Economic Association finally been forced to
adopt an ethical code, and that code is weak and incomplete compared
with other disciplines."
... another quote loc957-62:
The AEA was pushed into action by a damning research report into the
systematic concealment of conflicts of interest by top financial
economists and by a letter from three hundred economists who urged the
association to come up with a code of ethics. Epstein and
Carrick-Hagenbarth (2010) have shown that many highly influential
financial economists in the US hold roles in the private financial
sector, from serving on boards to owning the respective
companies. Many of these have written on financial regulation in the
media or in scholarly papers. Very rarely have they disclosed their
affiliations to the financial industry in their writing or in their
testimony in front of Congress, thus concealing a potential conflict
of interest.
... snip ...
Part of academy award winning documentary "Inside Job" was that as the
economic mess was imploding, a wallstreet consultant advised that as
many of the leading economists be tied up with contracts, grants,
board membership, etc ... as part of significantly minimizing analysis
of wallstreet role in the economic mess. The book then goes on to show
that "capture" of economists (similar to regulatory captures) and
questionable ethical standards isn't limited to the most recent
event. It wasn't that the ethics in the economic profession was
necessary direct cause of the economic mess ... but their ethics has
contributed to misdirection and obfuscation regarding those that were
responsible. Past example: (gone 404, but lives on at wayback machine)
https://web.archive.org/web/20140504010711/http://www.rollingstone.com/politics/blogs/taibblog/glenn-hubbard-leading-academic-and-mitt-romney-advisor-took-1200-an-hour-to-be-countrywides-expert-witness-20121220?print=true
working on behalf of #1 in times list of those responsible for the
financial mess
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877339,00.html
... the above article mentioning over $27 TRILLION in triple-A toxic CDOs goes into some of the aspects of it leaking out into the rest of the world
Disclaimer: Jan2009 I was asked to HTML'ize the Pecora hearings (congressional hearings into crash of '29, had been scanned the fall before at Boston Public Library) with extensive internal HREF x-links and loads of URLs between what happened this time and what happened then (some anticipation that new congress would have appetite to do something). I worked on it for some time and then got a call saying it wouldn't be needed after all (references to enormous piles of wallstreet money blanketing capital hill).
The financial sector makes more political contributions than any other
industry -- more than Big Pharma, agribusiness, and defense
contractors combined.
http://johnhively.wordpress.com/2013/08/13/how-many-politicians-does-wall-street-buy-compared-to-everybody-else/
Gerstner was in competition to be next CEO of AMEX. The looser leaves
and takes his protege with him. They go to Baltimore and this
description has them taking over a loan sharking business
http://www.counterpunch.org/2012/05/15/why-jamie-dimons-2-billion-gambling-loss-will-not-speed-financial-reform/
They do some number of other take-overs and eventual acquire Citibank
in violation of Glass-Steagall. Greenspan gives them an
exemption while they lobby congress for repeal
of Glass-Steagall, creating too-big-to-fail. on times list of
those responsible
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877329,00.html
The protege then leaves to head up another too-big-to-fail
AMEX & KKR are in competition for reverse-IPO (leveraged buyout,
private-equity take-over) of RJR. KKR wins but runs into some trouble
and hires away Gerstner to turn around RJR. IBM has gone into the red
and had been re-organized into the 13 "baby blues" in preparation for
breakup. IBM board hires Gerstner away to resurrect IBM (and reverse
the break-up). Gerstner later leaves IBM to become head of another
large private equity company ... which then does reverse-IPO
(private-equity buyout) of Booz-Allen.
http://mikenormaneconomics.blogspot.com/2013/08/privatization-of-protection-rackets.html
another "This Independent Technical Review Group Brought to You By the
Booz Allen Hamilton Director of National Intelligence"
http://www.emptywheel.net/2013/08/12/this-technical-review-group-brought-to-you-by-the-booz-allen-hamilton-director-of-national-intelligence/
no.2 on times list of those responsible for economic mess (both repeal
of Glass-Steagall and preventing CDSs from being regulated
... in conjunction with his wife)
http://content.time.com/time/specials/packages/article/0,28804,1877351_1877350_1877330,00.html
Gramm and the 'Enron Loophole'
http://www.nytimes.com/2008/11/17/business/17grammside.html
Enron was a major contributor to Mr. Gramm's political campaigns, and
Mr. Gramm's wife, Wendy, served on the Enron board, which she joined
after stepping down as chairwoman of the Commodity Futures Trading
Commission.
Phil Gramm's Enron Favor
https://web.archive.org/web/20080711114839/http://www.villagevoice.com/2002-01-15/news/phil-gramm-s-enron-favor/
A few days after she got the ball rolling on the exemption, Wendy
Gramm resigned from the commission. Enron soon appointed her to its
board of directors, where she served on the audit committee, which
oversees the inner financial workings of the corporation. For this,
the company paid her between $915,000 and $1.85 million in stocks and
dividends, as much as $50,000 in annual salary, and $176,000 in
attendance fees,
Greenspan Slept as Off-Books Debt Escaped Scrutiny
http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=aYJZOB_gZi0I
That same year Greenspan, Treasury Secretary Robert Rubin and SEC
Chairman Arthur Levitt opposed an attempt by Brooksley Born, head of
the Commodity Futures Trading Commission, to study regulating
over-the-counter derivatives. In 2000, Congress passed a law keeping
them unregulated.
Brooksley was fairly quickly replaced by Wendy Gramm as head of
Commodity Futures Trading Commission, before Wendy then resigns to
join Enron's board (after legislation passes preventing
regulation). Rubin having aided in repeal of Glass-Steagall, resigns
to become co-CEO of Citi
KKR
https://en.wikipedia.org/wiki/Kohlberg_Kravis_Roberts
recently shows up again here
http://dealbook.nytimes.com/2013/05/30/k-k-r-hires-petraeus/
About the time IBM is going into the red and preparing to be split up
(prior to being resurrected by Gerstner), AMEX spins off much of its
dataprocessing in the largest IPO (up until that point) as FDC
https://en.wikipedia.org/wiki/First_Data
in late 90s, FDC merges with First Financial which includes Western Union. With the big increase in foreign workers sending their salaries home, by 2005, Western Union accounts for half FDC revenue ... and is spun off in IPO. FDC corporate is then lop'ed off and KKR does private equity take-over of the remainder of FDC in the largest reverse-IPO (up until that point, 15yrs after having been the largest IPO).
Disclaimer ... some of the early description here has been garbled:
https://web.archive.org/web/20190524015712/http://www.ibmsystemsmag.com/mainframe/stoprun/Stop-Run/Making-History/
it is only a crime if a gun is used: "GOP Congressman Says There's No
Such Thing As Wall Street Crime"
http://www.businessinsider.com/congressman-financial-crime-needs-a-gun-2013-8
this is old long winded post from Jan1999 by attendee at workshop that
Tandem(/Compaq) put on for my wife and me:
https://www.garlic.com/~lynn/aepay3.htm#riskm
He was familiar with Citi in the 80s & early 90s when it had the largest ARM mortgage portfolio in the industry; they realize that it could take down the bank and get out of the business and sell off the portfolio ... nearly taking the bank down ... requiring private bailout to survive. Roll-forward into the economic mess and Citi is one of the biggest players in triple-A rated toxic CDOs (most CDOs are effectively large ARM mortgage portfolio in disguise) ... all the institutional knowledge regarding the pitfalls appear to have evaporated.
Note in Black's book (Best Way to Rob a Bank is to Own One), he has
repeated examples of financial institution behavior that doesn't
appear to make rational economic sense ... until you understand the
fraud.
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: Why DOJ Deemed Bank Execs Too Big To Jail Date: 15 Aug 2013 Blog: Financial Crime Risk, Fraud and Securityre:
supposedly about Summers for fed reserve ... but also goes into some
detail why (too-big-to-fail) citi wasn't held accountable: Why Larry
Summers' Ego Matters
http://www.zerohedge.com/news/2013-08-12/why-larry-summers-ego-matters
from above:
Unbeknownst to most of us in 2009, the battle lines in the debate were
weighted strongly against Citi.
Treasury Secretary Tim Geithner was the bank's guardian angel,
advocating relentlessly for its interests and fighting to block
proposals its management didn't like.
... snip ...
Geithner
https://en.wikipedia.org/wiki/Timothy_Geithner
from above:
He was Under Secretary of the Treasury for International Affairs
(1998-2001) under Treasury Secretaries Robert Rubin and
Lawrence Summers.[9] Summers was his mentor,[17][18] but other sources
call him a Rubin protege
... snip ...
although this has Summers working for citibank also Center For
American Progress Says Larry Summers "Not A Wall Street
Guy"
http://news.firedoglake.com/2013/08/14/center-on-american-progress-says-larry-summers-not-a-wall-street-guy/
from above:
Mr. Summers, 58, has been employed by the megabank Citigroup and the
sprawling hedge fund D. E. Shaw. He works for a firm that advises
small banks as well as the exchange company Nasdaq OMX. And he serves
on the board of two Silicon Valley start-ups: both financial firms
that may pursue initial public offerings in the next year
... snip ...
Summers
https://en.wikipedia.org/wiki/Lawrence_Summers
from above
In 1993 Summers was appointed Undersecretary for International Affairs
and later in the United States Department of the Treasury under the
Clinton Administration. In 1995, he was promoted to Deputy Secretary
of the Treasury under his long-time political mentor Robert Rubin. In
1999, he succeeded Rubin as Secretary of the Treasury.
... snip ...
Rubin
https://en.wikipedia.org/wiki/Robert_Rubin
and
http://www.marketswiki.com/mwiki/Robert_E._Rubin
from above
Rubin began his career as an attorney at the firm of Cleary, Gottlieb,
Steen & Hamilton in New York City from 1964 to 1966. He then joined
Goldman, Sachs & Company as an associate in 1966, became a general
partner in 1971 and joined the management committee in 1980. Rubin was
vice-chairman and co-chief operating officer from 1987 to 1990 and
served as co-senior partner and co-chairman from 1990 to 1992.
... snip ...
after helping Citigroup get Glass-Steagall repealed
Former Treasury Secretary to Help Lead Citigroup Finance: Robert
E. Rubin will join the firm's chairmen and co-CEOs in an unusual
power-sharing arrangement.
http://articles.latimes.com/1999/oct/27/business/fi-26680
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: China mulls probe into IBM, Oracle, EMC after NSA hack claims - report Date: 16 Aug 2013 Blog: Information Security NetworkChina mulls probe into IBM, Oracle, EMC after NSA hack claims - report Spooks allowed in through the backdoor?
Drake also brought out the spreading Success Of Failure culture in
the government
http://www.govexec.com/excellence/management-matters/2007/04/the-success-of-failure/24107/
congress then put the agency on probation, not allowed to manage its own projects ... but that may have just been part of further privatizing the government.
more for-profit tiein: the head of IBM (linkedin drops the trailing
period in the URL)
https://en.wikipedia.org/wiki/Louis_V._Gerstner,_Jr.
leaves and becomes chairman of
https://en.wikipedia.org/wiki/Carlyle_Group
which then does private equity buyout of
https://en.wikipedia.org/wiki/Booz_Allen_Hamilton
Spies Like Us
http://www.investingdaily.com/17693/spies-like-us/
from above:
Private contractors like Booz Allen now reportedly garner 70 percent
of the annual $80 billion intelligence budget and supply more than
half of the available manpower.
... snip ...
How Booz Allen Hamilton Swallowed Washington
http://www.zerohedge.com/news/2013-06-23/visualizing-how-booz-allen-hamilton-swallowed-washington
part of this is MICC realizing that there is more money in a series of failing efforts than a single success at the start (some quarters suggesting that intelligence needs its own sub-category in MICC as IICC). part of the justification for congress playing is some quarters claim congress expects 5% kickback from for-profit companies. there is also the possibility that for-profit companies using the capabilities for their own economic&industrial espionage.
This Independent Technical Review Group Brought to You By the Booz
Allen Hamilton Director of National Intelligence
http://www.emptywheel.net/2013/08/12/this-technical-review-group-brought-to-you-by-the-booz-allen-hamilton-director-of-national-intelligence/
other trivia: Gerstner was in competition to be next CEO of AMEX. The
looser leaves and takes his protege with him. They go to Baltimore and
this description has them taking over a loan sharking business
http://www.counterpunch.org/2012/05/15/why-jamie-dimons-2-billion-gambling-loss-will-not-speed-financial-reform/
They do some number of other take-overs and eventual acquire Citibank in violation of Glass-Steagall. Greenspan gives them an exemption while they lobby congress for repeal of Glass-Steagall and creation of too-big-to-fail. The protege then leaves and shows up as head of another too-big-to-fail
AMEX & KKR are in competition for reverse-IPO (leveraged buyout, private-equity take-over) of RJR. KKR wins but runs into some trouble and hires away Gerstner to turn around RJR. IBM has gone into the red and had been re-organized into the 13 "baby blues" in preparation for breakup. IBM board hires Gerstner away to resurrect IBM (and reverse the break-up).
KKR
https://en.wikipedia.org/wiki/Kohlberg_Kravis_Roberts
recently shows up again here (MICC revolving door)
http://dealbook.nytimes.com/2013/05/30/k-k-r-hires-petraeus/
About the time IBM is going into the red and preparing to be split up
(prior to being resurrected by Gerstner), AMEX spins off much of its
dataprocessing in the largest IPO (up until that point) as FDC (which
does outsourcing for much of the world's credit & debit card
processing)
https://en.wikipedia.org/wiki/First_Data
in late 90s, FDC merges with First Financial which includes Western Union. With the big increase in foreign workers sending their salaries home, by 2005 Western Union accounts for half FDC revenue ... and is spun off in IPO. FDC corporate is then lop'ed off and KKR does private equity take-over of the remainder of FDC in the largest reverse-IPO (up until that point, 15yrs after having been the largest IPO).
gerstner posts
https://www.garlic.com/~lynn/submisc.html#gerstner
private equity posts
https://www.garlic.com/~lynn/submisc.html#private.equity
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Sat, 17 Aug 2013 11:11:39 -0400jmfbahciv <See.above@aol.com> writes:
... but that doesn't stop them from illegal activity.
past reference IRS looking for 52,000 super wealthy illegal tax
evasion avoiding $400B in taxes ... then congress cutting IRS
enforcement budget for going after wealthy tax evaders ... then maybe
only a single person does jailtime
https://www.garlic.com/~lynn/2011p.html#37 No Jail In UBS Tax Evasion Case
https://www.garlic.com/~lynn/2012.html#29 Mitt Romney avoids U.S tax by using Offshore bank accounts
https://www.garlic.com/~lynn/2012h.html#27 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#30 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#39 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#64 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012k.html#37 If all of the American earned dollars hidden in off shore accounts were uncovered and taxed do you think we would be able to close the deficit gap?
https://www.garlic.com/~lynn/2013d.html#36 Bank Whistleblower Claims Retaliation And Wrongful Termination
https://www.garlic.com/~lynn/2013e.html#27 Secrecy for Sale: Inside the Global Offshore Money Maze
https://www.garlic.com/~lynn/2013e.html#70 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#86 What Makes a thread about the European debt crisis Bizarre?
https://www.garlic.com/~lynn/2013f.html#6 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#11 Secrecy for Sale: Inside the Global Offshore Money Maze
https://www.garlic.com/~lynn/2013f.html#13 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#69 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013g.html#86 How Wall Street Defanged Dodd-Frank
https://www.garlic.com/~lynn/2013j.html#26 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013j.html#27 What Makes a Tax System Bizarre?
recent reference somebody in congress claiming it is only a crime if a
gun is involved: "GOP Congressman Says There's No Such Thing As Wall
Street Crime"
http://www.businessinsider.com/congressman-financial-crime-needs-a-gun-2013-8
too-big-to-fail ... i.e. too-big-to-prosecute
and too-big-to-jail
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
even though economic mess is much worse than S&L crisis where over 700 did jailtime ... nobody doing jailtime for economic mess ... evidence of further "capture" of regulatory & law enforcement agencies (even when too-big-to-fail have been caught doing things like money laundering for drug cartels and terriorists)
for part of blow-by-blow for S&L crisis
https://www.amazon.com/Best-Way-Rob-Bank-Own-ebook/dp/B00H5B9Z80/
by a regulator that came under intense pressure from both congress and the executive branch to stop his activities in the S&L crisis (mentions that after de-regulation the crisis was on its way from $150B problem to several trillion dollar problem) ... those parties became more effective the last decade (in the economic mess) than they had been in the S&L crisis.
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virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: Management Secrets From Inside GE Date: 17 Aug 2013 Blog: FacebookManagement Secrets From Inside GE
Age of Greed: The Triumph of Finance and the Decline of America, 1970
to the Present; pg200/loc3925-30
The CNNMoney writers got it slightly wrong. GE was not exactly like
the American economy. It was even more dependent on financial
services. In the early 2000s, GE was again riding a financial wave,
the subprime mortgage lending boom; it had even bought a subprime
mortgage broker. GE borrowed still more against equity to exploit the
remarkable opportunities, its triple-A rating giving it a major
competitive advantage. By 2008, the central weakness of the Welch
business strategy, its dependence on financial over speculation,
became ominously clear. GE's profits plunged during the credit crisis
and its stock price fell by 60 percent. GE Capital, the main source of
its success for twenty-five years, now reported enormous losses.
pg324/loc6382-85:
General Electric's persistent earnings increases were a leading
example of how earnings were manipulated to produce consistent
gains. Fortune analyzed how Jack Welch used both pension fund reserves
and reserves at GE Capital to supplement quarterly earnings in order
to make them rise consistently. As noted, they rose every quarter for
almost thirteen years. GE stock roughly tripled between 1990 and 1995
and then quintupled between 1995 and early 2000
... snip ...
part of
http://www.nytimes.com/imagepages/2011/09/04/opinion/04reich-graphic.html
is structuring the books, GE came to be half the revenue from financial services ... but required very few people. Auto industry restructured so that manufacturing showed barely break-even but big profits on the financial services for actually selling an auto. Airline industry restructures so that all the profit is in the reservation (nearly all computers), airline operations can show large loss while reservations can show big profit and parent company shows overall profit.
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Sat, 17 Aug 2013 11:57:16 -0400Walter Bushell <proto@panix.com> writes:
note that the too-big-to-fail were also caught money laundering for the
(violent) drug cartels ... and didn't do jail time ... misc. past posts
https://www.garlic.com/~lynn/submisc.html#money.laundering
recent post mentions privatizing gov intelligence by for-profit
companies
https://www.garlic.com/~lynn/2013k.html#31 China mulls probe into IBM, Oracle, EMC after NSA hack claims - report
recent reference country has strict rules against debtors prison
... but institutions gaming the system to get prison terms for
debts
https://www.garlic.com/~lynn/2013j.html#61 What Makes a Tax System Bizarre?
past posts privatizing prison systems and providing
labor for for-profit companies.
https://www.garlic.com/~lynn/2008d.html#45 Prison pushes for exploitation of slave labor of prisoners
https://www.garlic.com/~lynn/2011k.html#51 50th anniversary of BASIC, COBOL?
https://www.garlic.com/~lynn/2013d.html#37 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#43 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#65 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#55 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#69 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#52 What Makes a substance Bizarre?
https://www.garlic.com/~lynn/2013h.html#60 OT: "Highway Patrol" back on TV
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Sat, 17 Aug 2013 12:47:18 -0400"brad" <noise@comcast.net> writes:
This Town: Two Parties and a Funeral? Plus, Plenty of Valet Parking!?
in America's Gilded Capital loc381-85:
He then greets the attractive blonde seated next to me: Susanna Quinn,
the third and much younger wife of Democratic lobbyist Jack Quinn. Jack
Quinn, who in 2000 founded the bipartisan lobbying powerhouse Quinn
Gillespie & Associates with Republican Ed Gillespie, was the general
counsel to President Clinton in the pre-Monica years. Russert had always
been a sweetheart to Jack, especially after Quinn spent serious time "in
the barrel," as Quinn says, referring to a period of disgrace he endured
after successfully petitioning his former boss President Clinton to
issue a last-minute pardon for his client, the fugitive financier Marc
Rich.
loc1303-6:
Terry McAuliffe was there, too, even though he has had some issues with
Jack Quinn over the years. Specifically, the Macker did not like how the
former White House counselor had lobbied his former boss Bill Clinton to
pardon Quinn's client Marc Rich, a massive embarrassment to Clinton,
who—did McAuliffe mention?—is also Terry's best friend. The Macker
arrived just as the former Republican National Committee chairman Ed
Gillespie, Jack Quinn's former lobbying partner, was skipping out.
... snip ...
Marc Rich
https://en.wikipedia.org/wiki/Marc_Rich
Bill Clinton pardon controversy
https://en.wikipedia.org/wiki/Bill_Clinton_pardon_controversy
but that wasn't the only, from above
First Lady Hillary Clinton's youngest brother, Tony Rodham, was an
acquaintance of the Gregorys, and had lobbied Clinton on their
behalf.[13] In October 2006, the group Judicial Watch filed a request
with the U.S. Justice Department for an investigation, alleging that
Rodham had received $107,000 from the Gregorys for the pardons in the
form of loans that were never repaid, as part of a quid pro quo scheme.
... snip ...
other short memories ... recent post (Summers is current front runner to
replace Bernanke as head of Federal Reserve)
https://www.garlic.com/~lynn/2013k.html#30 Why DOJ Deemed Bank Execs Too Big To Jail
supposedly about Summers for fed reserve ... but also goes into some
detail why (too-big-to-fail) citi (possibly the worst of the bunch)
wasn't held accountable: "Why Larry Summers' Ego Matters"
http://www.zerohedge.com/news/2013-08-12/why-larry-summers-ego-matters
from above:
Unbeknownst to most of us in 2009, the battle lines in the debate were
weighted strongly against Citi.
Treasury Secretary Tim Geithner was the bank's guardian angel,
advocating relentlessly for its interests and fighting to block
proposals its management didn't like.
... snip ...
Geithner
https://en.wikipedia.org/wiki/Timothy_Geithner
from above:
He was Under Secretary of the Treasury for International Affairs
(1998-2001) under Treasury Secretaries Robert Rubin and
Lawrence Summers.[9] Summers was his mentor,[17][18] but other sources
call him a Rubin protege
... snip ...
although this has Summers working for citibank also: "Center For
American Progress Says Larry Summers 'Not A Wall Street
Guy'"
http://news.firedoglake.com/2013/08/14/center-on-american-progress-says-larry-summers-not-a-wall-street-guy/
from above:
Mr. Summers, 58, has been employed by the megabank Citigroup and the
sprawling hedge fund D. E. Shaw. He works for a firm that advises
small banks as well as the exchange company Nasdaq OMX. And he serves
on the board of two Silicon Valley start-ups: both financial firms
that may pursue initial public offerings in the next year
... snip ...
Summers
https://en.wikipedia.org/wiki/Lawrence_Summers
from above
In 1993 Summers was appointed Undersecretary for International Affairs
and later in the United States Department of the Treasury under the
Clinton Administration. In 1995, he was promoted to Deputy Secretary
of the Treasury under his long-time political mentor Robert Rubin. In
1999, he succeeded Rubin as Secretary of the Treasury.
... snip ...
Rubin
https://en.wikipedia.org/wiki/Robert_Rubin
and
http://www.marketswiki.com/mwiki/Robert_E._Rubin
from above
Rubin began his career as an attorney at the firm of Cleary, Gottlieb,
Steen & Hamilton in New York City from 1964 to 1966. He then joined
Goldman, Sachs & Company as an associate in 1966, became a general
partner in 1971 and joined the management committee in 1980. Rubin was
vice-chairman and co-chief operating officer from 1987 to 1990 and
served as co-senior partner and co-chairman from 1990 to 1992.
... snip ...
after helping Citigroup get Glass-Steagall repealed, Rubin resigns
Former Treasury Secretary to Help Lead Citigroup Finance: Robert
E. Rubin will join the firm's chairmen and co-CEOs in an unusual
power-sharing arrangement.
http://articles.latimes.com/1999/oct/27/business/fi-26680
but the economic mess also has Gramms ... recent post
https://www.garlic.com/~lynn/2013k.html#29 The agency problem and how to create a criminogenic environment
The agency problem and how to create a criminogenic environment
http://www.creditwritedowns.com/2013/08/white-collar-crime-regulation-control-fraud.html
above by Black who is also author of "Best Way to Rob a Bank is to Own One" (regulator during S&L crisis)
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virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: The Incredible Con the Banksters Pulled on the FBI Date: 17 Aug 2013 Blog: Financial Crime Risk, Fraud and SecurityThe Incredible Con the Banksters Pulled on the FBI
The Incredible Con the Banksters Pulled on the FBI
http://neweconomicperspectives.org/2013/08/the-incredible-con-the-banksters-pulled-on-the-fbi.html
Looting: The Economic Underworld of Bankruptcy for Profit
http://pages.stern.nyu.edu/~promer/Looting.pdf
FBI Mortgage Fraud Warning
http://www.mortgagebankers.org/FBImortgagefraudwarning.htm
remember CBS 60mins segment when Mortgage Bankers Association was telling America to not walk away from their underwater mortgages ... but Mortgage Bankers Association was hard to find, they had vacated their hdqtrs bldg and walked away from their mortgage.
other recent posts mentioning Bill Black
https://www.garlic.com/~lynn/2013d.html#40 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013j.html#18 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013k.html#21 Justice Dept. Sues Bank of America Over Mortgage Securities
https://www.garlic.com/~lynn/2013k.html#26 The agency problem and how to create a criminogenic environment
https://www.garlic.com/~lynn/2013k.html#29 The agency problem and how to create a criminogenic environment
https://www.garlic.com/~lynn/2013k.html#35 What Makes a Tax System Bizarre?
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virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: Do You Want Better Security? Eliminate System Administrators! Date: 17 Aug 2013 Blog: Information Security NetworkI've recently commented a number of times that open security literature from 20yrs ago would have implied that a Snowden-type event should have been very unlikely ... however that appears to all gone by the wayside with the privatizing of intelligence ... see x-over comments in the "China mulls probe into IBM, Oracle, EMC after NSA hack claims" discussion
... also here:
http://mikenormaneconomics.blogspot.com/2013/08/privatization-of-protection-rackets.html
Thomas Drake On Government Overreach, Obsessive Secrecy, and Constitutional Abuses
http://jessescrossroadscafe.blogspot.com/2013/08/thomas-drake-on-government-overreach.html
drake wiki here
https://en.wikipedia.org/wiki/Thomas_Andrews_Drake
old reference to Drake event and spreading Success of Failure culture
http://www.govexec.com/excellence/management-matters/2007/04/the-success-of-failure/24107/
then there is this: NSA revelations of privacy breaches 'the tip of
the iceberg' -- Senate duo Leading critics of NSA Ron Wyden and
Mark Udall say 'public deserves to know more about violations of
secret court orders'
http://www.theguardian.com/world/2013/aug/16/nsa-revelations-privacy-breaches-udall-wyden
past posts mentioning Success of Failure culture
https://www.garlic.com/~lynn/submisc.html#success.of.failuree
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Sun, 18 Aug 2013 10:52:30 -0400jmfbahciv <See.above@aol.com> writes:
the 52,000 super wealthy and illegal $400B unpaid tax evasion was just super wealthy us citizen individual
world-wide including corporate estimated to between $22 and $30
TRILLION hidden off-shore ... includes both "legal" tax avoidance and
illegal tax evasion ...
https://www.garlic.com/~lynn/2012j.html#81 GBP13tn: hoard hidden from taxman by global elite
https://www.garlic.com/~lynn/2012k.html#45 If all of the American earned dollars hidden in off shore accounts were uncovered and taxed do you think we would be able to close the deficit gap?
https://www.garlic.com/~lynn/2013g.html#80 'Big four' accountants 'use knowledge of Treasury to help rich avoid tax'
one of the claims was that the super wealthy & corporations hire high powered accountants and lawyers to find the loopholes in complex and confusing tax codes .... however, normally the super wealthy & corporations were actually paying the high powered accounting firms and lawyers to draft the complex and confusing tax loopholes and then paid the legislative bodies to pass those complex and confusing tax loopholes.
the difference between (opportunists & culpable)
super wealthy & corporations just happen to take advantage of
opportunities created by incompetent regulatory agencies and legislatures
and
super wealthy & corporations paid for and responsible for the situation
... having "captured" the regulatory agencies, legislatures, and
economists
...
part of the current situation in the US was that baseline US budget not
only was balanced but had *ALL* federal debt paid off by 2010. Report
was that after congress allowed the fiscal responsibility act to expire
in 2002, the tax revenue was reduced by $6T (compared to baseline) and
federal spending increased by $6T (compared to baseline) for $12T budget
gap by 2010 (instead of no federal debt). Much of the tax reduction and
spending appropriations haven't been reversed and effect on budget
continue to this day (current $16T debt). Congress savaging the
baseline budget last decade appeared to be motivation for comptroller
general to start including references to nobody in congress capable of
middle school arithmetic. past posts mentioning comptroller general
https://www.garlic.com/~lynn/submisc.html#comptroller.general
past posts mentioning tax evasion
https://www.garlic.com/~lynn/submisc.html#tax.evasion
recent thread about organization that obtained huge document dump from
institutions specializing in offshore money
https://www.garlic.com/~lynn/2013e.html#27 Secrecy for Sale: Inside the Global Offshore Money Maze
https://www.garlic.com/~lynn/2013e.html#46 Secrecy for Sale: Inside the Global Offshore Money Maze
https://www.garlic.com/~lynn/2013e.html#95 Secrecy for Sale: Inside the Global Offshore Money Maze
https://www.garlic.com/~lynn/2013f.html#11 Secrecy for Sale: Inside the Global Offshore Money Maze
other recent posts mentioning gov. institutions being "captured" by the
super wealthy and corporations
https://www.garlic.com/~lynn/2009j.html#70 64 Cores -- IBM is showing a prototype already
https://www.garlic.com/~lynn/2009j.html#71 64 Cores -- IBM is showing a prototype already
https://www.garlic.com/~lynn/2012c.html#55 PC industry is heading for more change
https://www.garlic.com/~lynn/2012k.html#87 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2012n.html#55 U.S. Sues Wells Fargo, Accusing It of Lying About Mortgages
https://www.garlic.com/~lynn/2012p.html#64 IBM Is Changing The Terms Of Its Retirement Plan, Which Is Frustrating Some Employees
https://www.garlic.com/~lynn/2013.html#20 The Big Fail
https://www.garlic.com/~lynn/2013.html#57 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013.html#73 More Whistleblower Leaks on Foreclosure Settlement Show Both Suppression of Evidence and Gross Incompetence
https://www.garlic.com/~lynn/2013b.html#9 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013b.html#44 Adair Turner: A New Debt-Free Money Advocate
https://www.garlic.com/~lynn/2013b.html#50 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013c.html#55 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013d.html#14 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#89 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#90 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#94 KPMG quits as Skechers and Herbalife auditor amid insider trading allegations
https://www.garlic.com/~lynn/2013f.html#1 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#2 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#36 Fed proposes annual assessments for large financial companies
https://www.garlic.com/~lynn/2013g.html#86 How Wall Street Defanged Dodd-Frank
https://www.garlic.com/~lynn/2013h.html#68 OT: "Highway Patrol" back on TV
https://www.garlic.com/~lynn/2013j.html#14 Barclays, Traders Fined $487.9 Million by U.S. Regulator
https://www.garlic.com/~lynn/2013j.html#15 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#36 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#49 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#61 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#78 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013j.html#80 Why DOJ Deemed Bank Execs Too Big To Jail
https://www.garlic.com/~lynn/2013k.html#29 The agency problem and how to create a criminogenic environment
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: copyright protection/Doug Englebart Newsgroups: alt.folklore.computers Date: Sun, 18 Aug 2013 12:19:10 -0400Ibmekon writes:
highlights that original purpose of patent office was to promote innovation and protect individual inventors from corporations trying to preserve the status quo ... however it currently has morphed into the exact opposite (being used by corporations for maintaining status quo).
recent posts
https://www.garlic.com/~lynn/2011n.html#92 Innovation and iconoclasm
https://www.garlic.com/~lynn/2012e.html#34 The never-ending SCO lawsuit
https://www.garlic.com/~lynn/2012k.html#42 The IBM "Open Door" policy
https://www.garlic.com/~lynn/2012o.html#53 PC/mainframe browser(s) was Re: 360/20, was 1132 printer history
they now teach this in business schools & MBA programs how protect their
position and control a market ... a couple recent posts
https://www.garlic.com/~lynn/2012l.html#13 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2012l.html#53 CALCULATORS
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: copyright protection/Doug Englebart Newsgroups: alt.folklore.computers Date: Sun, 18 Aug 2013 15:46:51 -0400"osmium" <r124c4u102@comcast.net> writes:
sorry, didn't use the word "corporations" ... "Why Nations Fail" used "extractive institutions" and "extractive economic institutions" trying to create monopolies and preserve the status quo. claim was that purpose of the patent office was to promote innovation and protect individuals from such "extractive institutions" looking to preserve status quo and hold back innovation.
past posts mentioning "Why Nations Fail"
https://www.garlic.com/~lynn/2012e.html#31 PC industry is heading for more change
https://www.garlic.com/~lynn/2012e.html#34 The never-ending SCO lawsuit
https://www.garlic.com/~lynn/2012e.html#35 The Dallas Fed Is Calling For The Immediate Breakup Of Large Banks
https://www.garlic.com/~lynn/2012e.html#36 The never-ending SCO lawsuit
https://www.garlic.com/~lynn/2012e.html#57 speculation
https://www.garlic.com/~lynn/2012e.html#60 Candid Communications & Tweaking Curiosity, Tools to Consider
https://www.garlic.com/~lynn/2012e.html#70 Disruptive Thinkers: Defining the Problem
https://www.garlic.com/~lynn/2012f.html#2 Did they apply Boyd's concepts?
https://www.garlic.com/~lynn/2012f.html#32 Back to the future: convict labor returns to America
https://www.garlic.com/~lynn/2012f.html#70 The Army and Special Forces: The Fantasy Continues
https://www.garlic.com/~lynn/2012f.html#80 The Failure of Central Planning
https://www.garlic.com/~lynn/2012f.html#84 How do you feel about the fact that India has more employees than US?
https://www.garlic.com/~lynn/2012h.html#10 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#15 Imbecilic Constitution
https://www.garlic.com/~lynn/2012i.html#85 Naked emperors, holy cows and Libor
https://www.garlic.com/~lynn/2012k.html#7 Is there a connection between your strategic and tactical assertions?
https://www.garlic.com/~lynn/2012k.html#42 The IBM "Open Door" policy
https://www.garlic.com/~lynn/2012l.html#17 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2012m.html#29 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2012m.html#34 General Mills computer
https://www.garlic.com/~lynn/2012m.html#39 General Mills computer
https://www.garlic.com/~lynn/2012n.html#83 Protected: R.I.P. Containment
https://www.garlic.com/~lynn/2012o.html#71 Is orientation always because what has been observed? What are your 'direct' experiences?
https://www.garlic.com/~lynn/2012p.html#44 Search Google, 1960:s-style
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Sun, 18 Aug 2013 17:20:05 -0400Anne & Lynn Wheeler <lynn@garlic.com> writes:
Best Way to Rob a Bank is to Own One
https://www.amazon.com/Best-Way-Rob-Bank-Own-ebook/dp/B00H5B9Z80/
... start of 80s, S&Ls were in trouble to the tune of something like $150B. Acknowledging this would endanger president's promise to cut taxes. Removing regulation and over-sight was attempt to hide it and keep it from coming out. However, removing over-sight made the industry ripe pickings for fraud and crooks. The book then covers much of the political pressure to continue to hide the situation ... even as the lack of over-sight and increasing fraud made it enormously worse (estimate of direct and indirect grows to $9 Trillion)
loc3236:
Wall and Martin faced disgrace if they stopped ACC's junk bond
sales. The junk bond sales to the widows were a Ponzi scheme. ACC was
insolent and losing money. If the Bank Board stopped the sales, ACC
would fail within weeks because it could not pay its debts. It would
default on the junk bonds and over ten thousand widows would lose much
of their life savings. ACC would file for bankruptcy protection. The
widows would line up outside Lincoln Savings branches hold signs
protesting the fraud.
... and ...
The administration would be furious. Awkward questions would be asked
about who had led the push to deregulate S&Ls (answer: Vice President
Bush)
... snip ...
... aka not just Greenspan (claiming that Lincoln was perfectly sound) and the Keating Five senators. part of Keating, Lincoln and ACC specialized in the looting of life savings of widows.. Later as president (during period of lots of prosection) ... one of people caught in the middle of the fraud and scandals was one of his own sons.
this long-winded old post is from an attendee at Jan1999 workshop that
Tandem/Compaq put on for my wife me ... claims that the direct &
indirect costs of the S&L crisis was so large that it has to be
carried off-book and amounts to over $100k per person
https://www.garlic.com/~lynn/aepay3.htm#riskm
For other reference ... accounts have head of CIA resisting Team B
analysis and president replaces him with Bush1 ... because he would go
along with the Team B analysis. past posts mentioning Team B
https://www.garlic.com/~lynn/submisc.html#team.b
Team B was there for the Iraq/Iran war eventually helping US be arms merchants to both sides.
Team B were then heavily involved in Desert Storm invasion of Iraq in early 90s ... and they were there again last decade with the fabrication justifying invading Iraq again (part of original justification was that it would only cost $50B, there are estimates that with long term medical&veterans benefits it hits $5T ... a factor of 100 times increase).
re:
https://www.garlic.com/~lynn/2013k.html#38 What Makes a Tax Systeme Bizarre?
2010 analysis that there was $6T cut in tax revenue and $6T increase
in spending (over baseline which had all federal debt paid off in
2010) for $12T budget gap ... most of it after letting the
fiscal responsibility act expire (required spending match tax
revenues) in 2002. misc. past posts
https://www.garlic.com/~lynn/submisc.html#fiscal.responsibility.act
Part of the analysis was that a little over $2T of the $6T spending
increase was for DOD; a little over $1T increase for the two wars but
couldn't identify what the other $1+T increase in DOD spending went
for. past posts mentioning military-industrial-congressional complex.
https://www.garlic.com/~lynn/submisc.html#military.industrial.complex
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: 12 simple rules: How Ted Codd transformed the humble database Newsgroups: alt.folklore.computers Date: Mon, 19 Aug 2013 09:23:49 -040012 simple rules: How Ted Codd transformed the humble database
misses system/r and the corporate pre-occupation with EAGLE allowed
technology transfer of system/r to endicott for SQL/DS ... when EAGLE
implodes there is request how fast could system/r be ported to MVS.
misc. past posts mentioning system/r
https://www.garlic.com/~lynn/submain.html#systemr
other system/r refs
http://www.mcjones.org/System_R/
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Mon, 19 Aug 2013 10:08:04 -0400jmfbahciv <See.above@aol.com> writes:
what you are possibly thinking of is that S&Ls were allowed to
offer checking accounts
https://en.wikipedia.org/wiki/Savings_and_loan_association
then the removal of nearly all regulation and over-sight during the early part of the 80s under the new administration ... allowed a single person to buy a S&L and loot all the assets (loan himself &/or front companies, all the assets and then default on the loans)
The agency problem and how to create a criminogenic environment
http://www.creditwritedowns.com/2013/08/white-collar-crime-regulation-control-fraud.html
The above has the following comment:
Notice how strongly they wrote their conclusion -- savings and loan (S&L) deregulation was "bound to produce looting."
with regard to
"The S&L crisis, however, was also caused by misunderstanding. Neither
the public nor economists foresaw that the regulations of the 1980s
were bound to produce looting. Nor, unaware of the concept, could they
have known how serious it would be. Thus the regulators in the field
who understood what was happening from the beginning found lukewarm
support, at best, for their cause. Now we know better. If we learn
from experience, history need not repeat itself" (Akerlof & Romer
1993: 60).
... snip ...
The Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the
Great Credit Crash
https://www.amazon.com/Two-Trillion-Dollar-Meltdown-Rollers-ebook/dp/B0097DE7DM/
loc655-67:
By the time Pratt had finished, it was possible for a single
individual to take control of an S&L, then organize and lend to
multiple subsidiaries -- for land acquisition, construction, building
management, and the like -- and create his own small real estate
empire entirely with depositors' money.
loc657-58:
Or more commonly, to pretend to create a real estate empire while
siphoning deposits into, say, personal jet planes, a favorite in
Texas.
loc660-61:
Another owner with a $1.8 billion loan book had bought six Learjets
before the Feds noticed that 96 percent of his loans were delinquent.
... snip ...
Pratt's predecessor wouldn't go along with request to remove all regulation (so the implication that nobody foresaw that the elimination of over-sight and deregulation would result in looting ... is disingenuous) ... so he was asked to resign so Pratt could be appointed.
Black in "Best Way to Rob a Bank is to Own One" goes into a lot more
detail about actions taken by Pratt.
https://www.amazon.com/Best-Way-Rob-Bank-Own-ebook/dp/B00H5B9Z80/
Savings and loan crisis
https://en.wikipedia.org/wiki/Savings_and_loan_crisis
not only the vp was primary player in the deregulation ... but
his son was a major player in looting a S&L
https://en.wikipedia.org/wiki/Savings_and_loan_crisis#Silverado_Savings_and_Loan
from above:
Neil Bush paid a $50,000 fine, paid for him by Republican
supporters,[28] and was banned from banking activities for his role in
taking down Silverado, which cost taxpayers $1.3 billion. A Resolution
Trust Corporation Suit against Bush and other officers of Silverado was
settled in 1991 for $26.5 million
... snip ...
settle for 2cents on the dollar.
for a more extreme collection
http://critcrim.org/critpapers/potter.htm
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: Digital projection conversion costs theatens drive-ins Newsgroups: alt.folklore.computers Date: Mon, 19 Aug 2013 14:01:54 -0400hancock4 writes:
besides anti-piracy and some of the other issues ... savings on environmental requirements for new projection booths offset cost of switch-over to digital (there are lots of chemicals given off from film as a result of the projection bulb heat ... which also reduces lifetime of the film).
more details in this past post
https://www.garlic.com/~lynn/2009o.html#61 TV Big Bang 10/12/09
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Tue, 20 Aug 2013 09:44:26 -0400Anne & Lynn Wheeler <lynn@garlic.com> writes:
the move of mortgage industry from reselling mortgages to packaged as
triple-A rated toxic CDOs sold through wallstreet ... changed the
industry to focus on those transactions with fees, commissions, and
skim aggregating possibly 15-20% ... on over $27T done during the
bubble
Evil Wall Street Exports Boomed With 'Fools' Born to Buy Debt
https://www.bloomberg.com/news/articles/2008-10-27/evil-wall-street-exports-boomed-with-fools-born-to-buy-debt
... could then be $4T-$5T ... which would account for the claim that
the wallstreet industry tripled in size (as percent of GDP) during the
bubble. misc. past posts mentioning triple-A rated toxic CDOs
https://www.garlic.com/~lynn/submisc.html#toxic.cdo
2004, Liechtenstein had financial conference for CEOs & presidents of
European corporations and exchanges (it appeared to be part of effort to
get Liechtenstein off the US Treasury money laundering blacklist, the
innkeeper made jokes he had constant flow of people through with
business cards that said US Treasury, Dept. of Money Laundering ... as
opposed to Dept of Anti-Money Laundering), the conference theme was the
expense of SOX audits was starting to leak into Europe. misc. past posts
mentioning money laundering
https://www.garlic.com/~lynn/submisc.html#money.laundering
As mentioned, the rhetoric on the floor of congress getting
Sarbanes-Oxley passed was that it would prevent future ENRONs and
Worldcoms and top executives and auditors would be guaranteed to do
jail time. The jokes at the time, it was likely just a full employment
gift to the auditors and possible the only effective provision in SOX
was about whistle-blowers.
https://www.garlic.com/~lynn/submisc.html#enron
At the Liechtenstein conference, I took the position that I could program computers to make a corporation's books internally consistent to any level of detail ... which would pass any level of SOX audit. The issue was whether there was independent corroboration of the details in the books or just that they were internally consistent.
This fraudulent financials theme is discussed in Black's 2005 book (The Best Way to Rob a Bank is to Own One). Black's book not only takes up the audit failures theme but also gets into how many of the crooks co-opted big accounting houses to participate in the fraud, not just simply blind to finding accounting discrepancies.
Note however, SOX did require SEC (and auditors) do something ... and
possibly because even GAO didn't think that SEC was doing anything, it
started doing reports of public company fraudulent financial filings,
even showing uptic after SOX (wasn't even necessary to go to the level
of deception that I was talking about in Liechtenstein). financial reporting fraud
https://www.garlic.com/~lynn/submisc.html#financial.reporting.fraud.fraud
... semi-joke, did SOX 1) have no effect on fraudulent financial
filings, 2) encouraged increase in fraudulent financial filings, 3) if
it wasn't for SOX, all financial filings would now be fraudulent. past
posts GAO reports of fraudulent financial filings
https://www.garlic.com/~lynn/submisc.html#sarbanes-oxley
In the Madoff congressional hearings, they had the person that had
tried unsuccessfully for a decade to get SEC to do something about
Madoff. He mentioned that tips (whistle blowers) turns up 13 times
more fraud than audits ... and that SEC didn't have a tip hotline (but
did have a 1-800 for corporations to complain about audits). The
person was also asked whether new regulations were needed. He replied
that while new regulations might be needed, much more important was to
have transparency and visibility. He also mentions that SEC primarily
hires lawyers and doesn't bother to hire people with financial
forensics skills (self-fulfilling prophecy, if you aren't interested
in finding financial fraud, don't hire people with experience in
finding financial fraud). Black's similar comment is why don't the
regulatory agencies and justice department have positions for
criminologists. misc. past posts mentioning Madoff
https://www.garlic.com/~lynn/submisc.html#madoff
old article mentioning that wallstreet doesn't has to worry about SEC
regarding illegal activity
http://nypost.com/2007/03/20/cramer-reveals-a-bit-too-much/
recent item from Black:
Obama's FBI Channels the Tea Party: Partner with the Banks and Blame
the Poor for the Crisis
http://neweconomicperspectives.org/2013/08/obamas-fbi-channels-the-tea-party-partner-with-the-banks-and-blame-the-poor-for-the-crisis.html
Obama's FBI Channels the Tea Party -- Partner with the Banks and Blame
the Poor for the Crisis
http://www.nakedcapitalism.com/2013/08/bill-black-obamas-fbi-channels-the-tea-party-partner-with-the-banks-and-blame-the-poor-for-the-crisis.html
from above:
This column discusses the more consequential and damaging product of
the FBI/MBA partnership. The MBA presented a definition of "mortgage
fraud" under which the bank is always the innocent victim and never a
perpetrator. Because the FBI and DOJ did not draw on the banking
regulators' expertise due to the death of criminal referrals by the
agencies the FBI fell for the MBA con.
... snip ...
as the bubble was crashing, cbs 60mins had segment on MBA ... MBA had press articles telling home owners to not walk away from their underwater mortgages ... but MBA was hard to find, they had disappeared from their new hdqtrs bldg (across the street from IMF & world bank) and defaulted on their mortgage.
past post mentioning Liechtenstein (also mentions the super wealthy tax
violators that IRS is looking for)
https://www.garlic.com/~lynn/2011n.html#42 The Godfather of Kathmandu
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From: lynn@garlic.com Subject: Why DOJ Deemed Bank Execs Too Big To Jail Date: 20 Aug 2013 Blog: Financial Crime Risk, Fraud and Securityre:
Not Too Big to Jail: Why Eliot Spitzer Is Wall Street's Worst
Nightmare
http://webofdebt.wordpress.com/2013/08/19/not-too-big-to-jail-why-eliot-spitzer-is-wall-streets-worst-nightmare/
Judge endorses use of fraud law against Bank of America
http://www.reuters.com/article/2013/08/19/us-bankofamerica-fraud-idUSBRE97I0ZX20130819
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From: lynn@garlic.com Subject: The Incredible Con the Banksters Pulled on the FBI Date: 20 Aug 2013 Blog: Financial Crime Risk, Fraud and Securityre:
Obama's FBI Channels the Tea Party -- Partner with the Banks and Blame
the Poor for the Crisis
http://www.nakedcapitalism.com/2013/08/bill-black-obamas-fbi-channels-the-tea-party-partner-with-the-banks-and-blame-the-poor-for-the-crisis.html
from above:
This column discusses the more consequential and damaging product of
the FBI/MBA partnership. The MBA presented a definition of "mortgage
fraud" under which the bank is always the innocent victim and never a
perpetrator. Because the FBI and DOJ did not draw on the banking
regulators' expertise due to the death of criminal referrals by the
agencies the FBI fell for the MBA con.
... snip ...
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From: lynn@garlic.com Subject: John Boyd's Art of War Date: 20 Aug 2013 Blog: American ConservativeJohn Boyd's Art of War; Why our greatest military theorist only made colonel
also
http://slightlyeastofnew.com/2013/08/18/spinney-on-lind/
http://www.phibetaiota.net/2013/08/chuck-spinney-an-american-sun-tzu-john-boyd/
http://chuckspinney.blogspot.com/2013/08/american-sun-tzu.html
I had sponsored Boyd's briefings at IBM ... after this article, the
SECDEF tried to have Spinney thrown in jail for releasing classified
information
http://www.time.com/time/magazine/article/0,9171,953733-1,00.html
sometimes behind paywall so also
https://web.archive.org/web/20070320170523/http://www.time.com/time/magazine/article/0,9171,953733,00.html
also
https://content.time.com/time/magazine/article/0,9171,953733,00.html
from earlier this year: It was 30 Years Ago Today ...
http://nation.time.com/2013/02/28/it-was-30-years-ago-today/
Boyd would talk about part of the 18month preparation was obtaining
written approval for release of each piece of information covered in
the article ... aware that MIC was all too willing to (fraudulently)
claim violations involving release of classified material on the
slightest pretense (joke that the highest security classification in
washington is "downright embarrassing"). At the time Boyd (& Spinney)
had significant congressional cover ... but all that has gone by the
wayside ... now fully aligned MICC. misc. past posts mentioning MICC
https://www.garlic.com/~lynn/submisc.html#military.industrial.complex
In Boyd's briefings he would cover Guderian's verbal orders only for
the blitzkrieg (encouraging local person on the spot to make
decisions). Boyd would mention that entry to WW2, US had to deploy
large number of unskilled and inexperienced ... so created a rigid,
top-down, command&control structure to leverage the few skills
available ... that Germany had 3% officers but US required 11%
(growing to 20%) for its rigid, top-down command&control. By early
80s, Boyd commented that former US military officers moving into
executive positions were contaminating US corporate culture (with
top-heavy and rigid, top-down command&control structures). misc.
past posts mentioning Boyd &/or OODA-loop
https://www.garlic.com/~lynn/subboyd.html
"There are two career paths in front of you, and you have to choose
which path you will follow. One path leads to promotions, titles, and
positions of distinction ... The other path leads to doing things that
are truly significant for the Air Force, but the rewards will quite
often be a kick in the stomach because you may have to cross swords
with the party line on occasion. You can't go down both paths, you
have to choose. Do you want to be a man of distinction or do you want
to do things that really influence the shape of the Air Force? To be
or to do, that is the question." Colonel John R. Boyd, USAF 1927-1997
From the dedication of Boyd Hall, United States Air Force Weapons
School, Nellis Air Force Base, Nevada. 17 September 1999
...
Early on during the invasion, they were told to bypass huge ammo dumps as part of looking for the (fictitious) WMDs (law of unintended consequences) ... when they went back later, they were empty (over million metric tons). Significant amount of the large artillery shells found their way into IEDs.
a son-in-law's first tour in Iraq was 2004-2005 in Fallujah,
foot-patrol, 2nd tour was 2007-2008 in Baqubah, mounted. He says this
is fairly accurate description (some caveat that the author didn't do
that much time outside the wire) Battle for Baqubah: Killing Our Way
Out (does say it was worse that Fallujah)
https://www.amazon.com/Battle-Baqubah-Killing-Our-ebook/dp/B007VBBS9I/
loc5243-54:
I was overwhelmed at the amount of destruction that surrounded me. The
sterile yard was about 150 meters wide by about 100 meters deep, and
it was packed full of destroyed vehicles (words can't describe what I
saw)
.... snip, and ...
I saw other Bradleys and M1 Abrams main battle tanks, the pride of the
1st Cavalry Division -- vehicles that, if back at Fort Hood, would be
parked meticulously on line, tarps tied tight, gun barrels lined up,
track line spotless, not so much as a drop of oil on the white
cement. What I saw that day was row after row of mangled tan steel as
if in a junkyard that belonged to Satan himself.
... snip ...
and then there is this: The great M-1 tank myth
http://elpdefensenews.blogspot.com.au/2013/07/the-great-m-1-tank-myth.html
misc. past posts mentioning Baqubah
https://www.garlic.com/~lynn/2012h.html#21 The Age of Unsatisfying Wars
https://www.garlic.com/~lynn/2012i.html#2 Interesting News Article
https://www.garlic.com/~lynn/2012i.html#8 Interesting News Article
https://www.garlic.com/~lynn/2012i.html#64 Early use of the word "computer"
https://www.garlic.com/~lynn/2012l.html#54 Singer Cartons of Punch Cards
https://www.garlic.com/~lynn/2012m.html#49 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2013c.html#86 A Matter of Mindset: Iraq, Sequestration and the U.S. Army
https://www.garlic.com/~lynn/2013d.html#30 A Matter of Mindset: Iraq
https://www.garlic.com/~lynn/2013d.html#38 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#5 Lessons Learned from the Iraq War
https://www.garlic.com/~lynn/2013e.html#79 As an IBM'er just like the Marines only a few good men and women make the cut,
https://www.garlic.com/~lynn/2013g.html#52 What Makes collecting sales taxes Bizarre?
https://www.garlic.com/~lynn/2013g.html#60 What Makes collecting sales taxes Bizarre?
https://www.garlic.com/~lynn/2013h.html#10 The cloud is killing traditional hardware and software
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: Digital projection conversion costs theatens drive-ins Newsgroups: alt.folklore.computers Date: Tue, 20 Aug 2013 18:19:27 -0400hancock4 writes:
"new booths" they were referring to was the plans for the new generation of 10-plex, 16-plex, etc ... i.e. all the new complexes with large number of screens and projection booths. pure digital significantly reduced the cost of putting up such complexes.
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From: lynn@garlic.com Subject: IBM Furloughs U.S. Hardware Employees to Reduce Costs Date: 21 Aug 2013 Blog: IBMersIBM Furloughs U.S. Hardware Employees to Reduce Costs
...
or to the top executives .... top executives have their bonuses tied to stock price ... stock buybacks boost stock price and helps them make their bonuses
Stockman in "The Great Deformation: The Corruption of Capitalism in America" ... talks about stock buybacks as a mini-form of LBO (leverage buyout), with the executives reaping huge rewards, pg457/loc9844-46:
The leader was ExxonMobil, which repurchased $160 billion of its own shares during 2004-2011. It was followed by Microsoft at $100 billion, IBM at $75 billion, and Hewlett-Packard, Proctor & Gamble, and Cisco with $50 billion each. Even the floundering shipwreck of merger mania known as Time Warner Inc. bought back $25 billion.
pg464/loc9995-10000:
IBM was not the born-again growth machine trumpeted by the mob of Wall
Street momo traders. It was actually a stock buyback contraption on
steroids. During the five years ending in fiscal 2011, the company
spent a staggering $67 billion repurchasing its own shares, a figure
that was equal to 100 percent of its net income.
pg465/10014-17:
Total shareholder distributions, including dividends, amounted to $82
billion, or 122 percent, of net income over this five-year
period. Likewise, during the last five years IBM spent less on capital
investment than its depreciation and amortization charges, and also
shrank its constant dollar spending for research and development by
nearly 2 percent annually.
... snip ...
also the difference between productivity and laying off workers along
with flat wages, going into executive pockets
http://www.nytimes.com/imagepages/2011/09/04/opinion/04reich-graphic.html
...
turns out currently, system is neither *and* seriously broken ... majority of trades are now HFT ... which is just skimming from the other players ... it is in danger of driving out investors ... leaving just the HFT players to slug it out with each other.
FBI Finds Holes in System Protecting Economic Data
http://online.wsj.com/article/SB10001424127887323420604578650411437354782.html
FBI Probing Holes In Early Economic Data Release
http://www.zerohedge.com/news/2013-08-06/fbi-probing-holes-early-economic-data-release
has HFT example of 15millisecond leak here
http://www.zerohedge.com/news/2013-06-03/watch-todays-15-millisecond-leak-ism-print
another early leak here
http://www.zerohedge.com/news/2013-08-02/presenting-todays-blatant-bond-market-manipulation-or-bls-leak
fine for HFT stock manipulation
http://www.zerohedge.com/news/2013-07-11/third-largest-futures-broker-gets-record-fine-hft-stock-market-manipulation
another reference
http://www.zerohedge.com/news/2013-08-05/hft-quote-churn-spam-soars-record-volume-plummets
Top executives falsifying public company financial filings is
motivated by large bonuses for making numbers ... and even if filings
are later corrected, seldom are the bonuses recovered. Rhetoric on
floor of congress in passing Sarbanes-Oxley was that it would prevent
future ENRON and Worldcom (and guarantee top executives and auditors
would do jail time) ... however it required that SEC do
something. Possibly because even GAO didn't believe SEC was doing
anything it started doing reports of public company fraudulent
financial filings, even showing uptic after SOX (and nobody has done
any jail time)
http://www.gao.gov/products/GAO-03-395R
http://www.gao.gov/products/GAO-06-678
https://www.gao.gov/products/gao-06-1079sp
I was blamed for online computer conferencing on the internal network
in the late 70s and early 80s (the internal network was larger than
the arpanet/internet from just about the beginning until late 85 or
early 86 ... folklore was that when the executive committee were told
about online computer conferencing and the internet, 5of6 wanted to
fire me).
https://www.garlic.com/~lynn/subnetwork.html#internalnet
A big part of the discussions were the enormous damage being
done to the corporation by MBAs and the focus on quarterly profits.
https://www.garlic.com/~lynn/subnetwork.html#cmc
A lot of US industry have reorganized their books so profit is shifted away from where most of the employees are ... frequently into financial services. The auto industry structured things so profit was shifted from manufacturing to financial services involved in selling the auto. The airline industry shifted so the airline carrier operation was near break even ... and the profit moved to selling the tickets and reservations ... situations where the airline carrier is loosing lots of money but the reservation&ticket operation is extremely profitable and the parent company is profitable (i.e. profit from reservations&tickets more than offsets the losses from the actual operation).
Age of Greed: The Triumph of Finance and the Decline of America, 1970
to the Present; pg200/loc3925-30
The CNNMoney writers got it slightly wrong. GE was not exactly like
the American economy. It was even more dependent on financial
services. In the early 2000s, GE was again riding a financial wave,
the subprime mortgage lending boom; it had even bought a subprime
mortgage broker. GE borrowed still more against equity to exploit the
remarkable opportunities, its triple-A rating giving it a major
competitive advantage. By 2008, the central weakness of the Welch
business strategy, its dependence on financial over speculation,
became ominously clear. GE's profits plunged during the credit crisis
and its stock price fell by 60 percent. GE Capital, the main source of
its success for twenty-five years, now reported enormous losses.
pg324/loc6382-85:
General Electric's persistent earnings increases were a leading
example of how earnings were manipulated to produce consistent
gains. Fortune analyzed how Jack Welch used both pension fund reserves
and reserves at GE Capital to supplement quarterly earnings in order
to make them rise consistently. As noted, they rose every quarter for
almost thirteen years. GE stock roughly tripled between 1990 and 1995
and then quintupled between 1995 and early 2000
... snip ...
note GE, IBM and other large corporations in the mid '90s lobbied for changes in accounting rules so they could include pension fund reserves
the strategy is also highlighted in this graph where productivity continues
upward but employee compensation goes flat ... with the difference
going to top executive and wallstreet pockets
http://www.nytimes.com/imagepages/2011/09/04/opinion/04reich-graphic.html
The above also reflects the reports that the ratio of top executive
compensation to employee compensation exploded to over 400:1 after
being 20:1 for a long time (and 10:1 in much of the rest of the
world). recent posts mentioning the 400:1 ratio
https://www.garlic.com/~lynn/2013d.html#33 IBM Spent A Million Dollars Renovating And Staffing Its Former CEO's Office
https://www.garlic.com/~lynn/2013e.html#10 The Knowledge Economy Two Classes of Workers
https://www.garlic.com/~lynn/2013k.html#28 Flag bloat
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Wed, 21 Aug 2013 14:16:49 -0400"Charlie Gibbs" <cgibbs@kltpzyxm.invalid> writes:
a couple recent long-winded posts in (closed linkedin) IBMers in
discussions (about furloughing and laying off workers)
https://www.garlic.com/~lynn/2013k.html#2
https://www.garlic.com/~lynn/2013k.html#50
part of discussions ...
Stockman in "The Great Deformation: The Corruption of Capitalism in
America" ... talks about stock buybacks as a mini-form of LBO
(leverage buyout), with the executives reaping huge rewards,
pg457/loc9844-46:
The leader was ExxonMobil, which repurchased $160 billion of its own
shares during 2004-2011. It was followed by Microsoft at $100 billion,
IBM at $75 billion, and Hewlett-Packard, Proctor & Gamble, and Cisco
with $50 billion each. Even the floundering shipwreck of merger mania
known as Time Warner Inc. bought back $25 billion.
pg464/loc9995-10000:
IBM was not the born-again growth machine trumpeted by the mob of Wall
Street momo traders. It was actually a stock buyback contraption on
steroids. During the five years ending in fiscal 2011, the company
spent a staggering $67 billion repurchasing its own shares, a figure
that was equal to 100 percent of its net income.
pg465/10014-17:
Total shareholder distributions, including dividends, amounted to $82
billion, or 122 percent, of net income over this five-year
period. Likewise, during the last five years IBM spent less on capital
investment than its depreciation and amortization charges, and also
shrank its constant dollar spending for research and development by
nearly 2 percent annually.
... snip ..
A lot of US industry have reorganized their books so profit is shifted away from where most of the employees are ... frequently into financial services. The auto industry structured things so profit was shifted from manufacturing to financial services involved in selling the auto. The airline industry shifted so the airline carrier operation was near break even ... and the profit moved to selling the tickets and reservations ... situations where the airline carrier is loosing lots of money but the reservation&ticket operation is extremely profitable and the parent company is profitable (i.e. profit from reservations&tickets more than offsets the *losses* from the actual operation).
Age of Greed: The Triumph of Finance and the Decline of America, 1970
to the Present; pg200/loc3925-30
The CNNMoney writers got it slightly wrong. GE was not exactly like
the American economy. It was even more dependent on financial
services. In the early 2000s, GE was again riding a financial wave,
the subprime mortgage lending boom; it had even bought a subprime
mortgage broker. GE borrowed still more against equity to exploit the
remarkable opportunities, its triple-A rating giving it a major
competitive advantage. By 2008, the central weakness of the Welch
business strategy, its dependence on financial over speculation,
became ominously clear. GE's profits plunged during the credit crisis
and its stock price fell by 60 percent. GE Capital, the main source of
its success for twenty-five years, now reported enormous losses.
pg324/loc6382-85:
General Electric's persistent earnings increases were a leading
example of how earnings were manipulated to produce consistent
gains. Fortune analyzed how Jack Welch used both pension fund reserves
and reserves at GE Capital to supplement quarterly earnings in order
to make them rise consistently. As noted, they rose every quarter for
almost thirteen years. GE stock roughly tripled between 1990 and 1995
and then quintupled between 1995 and early 2000
... snip ...
note GE, IBM and other large corporations in the mid '90s lobbied for changes in accounting rules so they could include pension fund reserves (as assets)
the strategy is also highlighted in this graph where productivity continues
upward but employee compensation goes flat ... with the difference
going to top executive and wallstreet pockets
http://www.nytimes.com/imagepages/2011/09/04/opinion/04reich-graphic.html
The above also reflects the reports that the ratio of top executive
compensation to employee compensation exploded to over 400:1 after
being 20:1 for a long time (and 10:1 in much of the rest of the
world). recent posts mentioning the 400:1 ratio
https://www.garlic.com/~lynn/2013d.html#33 IBM Spent A Million Dollars Renovating And Staffing Its Former CEO's Office
https://www.garlic.com/~lynn/2013e.html#10 The Knowledge Economy Two Classes of Workers
https://www.garlic.com/~lynn/2013k.html#28 Flag bloat
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: The agency problem and how to create a criminogenic environment Date: 21 Aug 2013 Blog: Financial Crime Risk, Fraud and Securityre:
Something similar came up in the Oct2008 congressional hearings that the rating agencies played in the economic mess ... selling triple-A ratings when they & the sellers both knew that the instruments weren't worth triple-A .... turning the mortgage market from managing individual mortgages into transaction, commission, and fee operation packaging loans and selling them on wallstreet (the triple-A rating opening up the sales to institutions that are restricted to only dealing in "safe" investments ... like large retirement funds).
The testimony was that the ratings were for the benefit of the buyers, but the rating agencies business model became *misaligned* with sellers paying for the ratings, the rating agencies were no longer motivated to do the "right" thing.
estimate over $27T done during the bubble:
Evil Wall Street Exports Boomed With 'Fools' Born to Buy Debt
https://www.bloomberg.com/news/articles/2008-10-27/evil-wall-street-exports-boomed-with-fools-born-to-buy-debt
with possibly aggregate of 15-20% fees & commissions as the instruments traveled through the wallstreet infrastructure ... that possibly represents over $5T that disappears into wallstreet ... and would account for claims that the industry tripled in size (as percent of GDP) during the bubble. The amount that wallstreet skimmed was further increased by purposefully creating triple-A rated toxic CDOs designed to fail, selling to their customers and then taking out CDS bets that they would fail.
One of the things from Black's book "Best Way to Rob a Bank" ... mostly on the S&L crisis with large number of people doing jail time ... contrasted the lack of people doing jail time for the recent economic crisis (even tho it is much larger) highlights the effectiveness of regulatory "capture".
The book repeatedly references that the removal of oversight and removal of regulation made the S&Ls "ripe" for looting ... think of analogy involving going off and leaving the bank vault door wide-open, the front door wide-open and no guards
There is also this recent series of articles by Black ... about MBA co'opting the FBI into defining "mortgage fraud" as something the individual does to the institutions ... it isn't fraud if an institution does it to the individual:
The FBI's 2010 Mortgage Fraud Report Reveals Why the Banksters Love
Holder
http://neweconomicperspectives.org/2013/08/the-fbis-2010-mortgage-fraud-report-reveals-why-the-banksters-love-holder.html
The Incredible Con the Banksters Pulled on the FBI
http://neweconomicperspectives.org/2013/08/the-incredible-con-the-banksters-pulled-on-the-fbi.html
Obama's FBI Channels the Tea Party: Partner with the Banks and Blame
the Poor for the Crisis
http://neweconomicperspectives.org/2013/08/obamas-fbi-channels-the-tea-party-partner-with-the-banks-and-blame-the-poor-for-the-crisis.html
CBS 60mins had segment on MBA when it was having press releases telling borrowers all the reasons it was bad to walk away from underwater mortgage ... but 60mins had a hard time finding the MBA ... they had walked away from their new hdqtrs bldg (across from IMF & world bank) and defaulted on their mortgage
for the fun of it ...
Math, leverage and risk
http://www.atimes.com/atimes/Global_Economy/NF20Dj03.html
from above:
Benoit Mandelbrot, in his 2004 The Misbehavior of Markets, had pointed
them out with mathematical elegance we could not hope to match
(Mandelbrot had pointed out flaws in the emerging underlying theory as
early as 1962).
... snip ...
The (MIS)Behavior Of Markets
https://www.amazon.com/The-Misbehavior-Markets-Turbulence-ebook/dp/B004PYDBEO
and
https://en.wikipedia.org/wiki/Benoit_Mandelbrot
disclaimer: I was in IBM San Jose Research and then for some transgression, I was transferred to IBM Yorktown Research ... even tho I continued to live and have offices in San Jose ... but would commute to ykt a couple times a month.
and from nobel prize winner in economics,
https://www.amazon.com/Thinking-Fast-and-Slow-ebook/dp/B00555X8OA
from above
Since then, my questions about the stock market have hardened into a
larger puzzle: a major industry appears to be built largely on an
illusion of skill. Billions of shares are traded every day, with many
people buying each stock and others selling it to them
... snip ...
which tends in the direction of fabrication by con men.
past posts mentioning "(MIS)Behavior Of Markets" and/or
"Thinking Fast and Slow"
https://www.garlic.com/~lynn/2011p.html#138 Thinking, Fast & Slow
https://www.garlic.com/~lynn/2012.html#1 The war on terabytes
https://www.garlic.com/~lynn/2012b.html#29 The speeds of thought, complexities of problems
https://www.garlic.com/~lynn/2012b.html#35 Entropy and #SocialMedia
https://www.garlic.com/~lynn/2012b.html#44 What's the most interesting thing you do in your non-work life?
https://www.garlic.com/~lynn/2012b.html#59 Original Thinking Is Hard, Where Good Ideas Come From
https://www.garlic.com/~lynn/2012e.html#57 speculation
https://www.garlic.com/~lynn/2012g.html#16 Psychology Of Fraud: Why Good People Do Bad Things
https://www.garlic.com/~lynn/2012h.html#67 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012i.html#65 Thousands Of IBM Employees Got A Nasty Surprise Yesterday: Here's The Email They Saw
https://www.garlic.com/~lynn/2012i.html#85 Naked emperors, holy cows and Libor
https://www.garlic.com/~lynn/2012i.html#87 Naked emperors, holy cows and Libor
https://www.garlic.com/~lynn/2012j.html#4 Interesting News Article
https://www.garlic.com/~lynn/2012j.html#74 What voters are really choosing in November
https://www.garlic.com/~lynn/2012m.html#64 Guest Post: Beakley on Boyd, Aerial Combat and the OODA-Loop
https://www.garlic.com/~lynn/2013d.html#72 What Makes an Architecture Bizarre?
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Wed, 21 Aug 2013 19:01:55 -0400scott@slp53.sl.home (Scott Lurndal) writes:
Newest processor is ec12 with 101 processors is rated for 75BIPS (haven't seen prices).
ibm has base list price of $1815 for e5-2600 blade ... which have 527BIPS rating ... or $3.44/BIPS. Server chip vendors are claiming that they now ship more server chips directly to big cloud operators (than to brand name vendors) that build their own blades (these don't even show up in server market numbers). big cloud operators have been claiming that they do their own builds for 1/3rd the cost of brand name servers ... getting close to $1/BIPS. these economics show up in the "on-demand" system prices from the big cloud vendors.
A full rack of e5-2600 blades (at 527BIPS) is more processing than a couple years sales of mainframe systems (at 50BIPS)
recent posts mentioning mega-datacenters:
https://www.garlic.com/~lynn/2013.html#16 From build to buy: American Airlines changes modernization course midflight
https://www.garlic.com/~lynn/2013.html#17 Still think the mainframe is going away soon: Think again. IBM mainframe computer sales are 4% of IBM's revenue; with software, services, and storage it's 25%
https://www.garlic.com/~lynn/2013b.html#7 mainframe "selling" points
https://www.garlic.com/~lynn/2013b.html#8 mainframe "selling" points
https://www.garlic.com/~lynn/2013b.html#10 FW: mainframe "selling" points -- Start up Costs
https://www.garlic.com/~lynn/2013b.html#15 A Private life?
https://www.garlic.com/~lynn/2013b.html#25 Still think the mainframe is going away soon: Think again. IBM mainframe computer sales are 4% of IBM's revenue; with software, services, and storage it's 25%
https://www.garlic.com/~lynn/2013c.html#84 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013c.html#91 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#19 Where Does the Cloud Cover the Mainframe?
https://www.garlic.com/~lynn/2013f.html#28 Reports: IBM may sell x86 server business to Lenovo
https://www.garlic.com/~lynn/2013f.html#35 Reports: IBM may sell x86 server business to Lenovo
https://www.garlic.com/~lynn/2013f.html#37 Where Does the Cloud Cover the Mainframe?
https://www.garlic.com/~lynn/2013f.html#51 Reports: IBM may sell x86 server business to Lenovo
https://www.garlic.com/~lynn/2013f.html#57 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013f.html#61 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013f.html#70 How internet can evolve
https://www.garlic.com/~lynn/2013f.html#73 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013f.html#74 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013g.html#7 SAS Deserting the MF?
https://www.garlic.com/~lynn/2013g.html#12 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013g.html#21 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013g.html#43 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013g.html#45 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013h.html#40 The Mainframe is "Alive and Kicking"
https://www.garlic.com/~lynn/2013i.html#60 Making mainframe technology hip again
https://www.garlic.com/~lynn/2013i.html#66 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013j.html#23 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013j.html#24 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013j.html#32 The cloud is killing traditional hardware and software
https://www.garlic.com/~lynn/2013j.html#62 Mainframe vs Server - The Debate Continues
https://www.garlic.com/~lynn/2013j.html#63 Mainframe vs Server - The Debate Continues
https://www.garlic.com/~lynn/2013j.html#70 Internet Mainframe Forums Considered Harmful
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Thu, 22 Aug 2013 09:40:52 -0400jmfbahciv <See.above@aol.com> writes:
wouldn't be the introverted nerds ... heads down working. during the internet bubble there were a lot of wallstreet investment banker types in silicon valley driving the IPO-mill ... the objective was to have enormous hype for the IPO, afterwards the company collapses ... leaving the field open for the next IPO. Investment bankers would put in $50M and then pull out a couple billion in the IPO ... and then repeat as long as possible. we were told some of the same internet bubble IPO-mill wallstreet investment bankers had been involved in the S&L crisis and were predicted to go on to do something with securitized mortgages.
these startups, that the investment bankers didn't want to succeed ... just wanted enough of a facade to game the IPO process ... before failing.
however, there was the party/gala at RSA 2000 ... written up in the
press as the last great party of the valley. Somebody at IBM had written
the check ... San Jose coliseum, jefferson starship performing ... by
the time of the party, things were already imploding and the person at
IBM had been reliaved of his duties ... but the checks had already been
written ... so he was in tuxedo on the steps of the coliseum greeting
attendees. some past posts mentioning RSA 2000 gala:
https://www.garlic.com/~lynn/2006r.html#15 50th Anniversary of invention of disk drives
https://www.garlic.com/~lynn/2008l.html#68 Taxes
https://www.garlic.com/~lynn/2012b.html#69 PKI and SSL - the jaws of trust snap shut
https://www.garlic.com/~lynn/2012k.html#61 Party like it's 1999; CDE Unix desktop REBORN
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Thu, 22 Aug 2013 10:17:27 -0400re:
... oh, and past posts mentioning IPO-mill during internet bubble
https://www.garlic.com/~lynn/2010c.html#81 search engine history, was Happy DEC-10 Day
https://www.garlic.com/~lynn/2010o.html#21 Compressing the OODA-Loop - Removing the D (and maybe even an O)
https://www.garlic.com/~lynn/2011.html#84 The Imaginot Line
https://www.garlic.com/~lynn/2011h.html#59 SSL digital certificates
https://www.garlic.com/~lynn/2011j.html#64 Silicon Valley's Undertaker: We're Anticipating a Major Fallout'
https://www.garlic.com/~lynn/2012b.html#84 A Conversation with Peter Thiel
https://www.garlic.com/~lynn/2012d.html#5 PC industry is heading for more change
https://www.garlic.com/~lynn/2012d.html#16 IBM cuts more than 1,000 U.S. Workers
https://www.garlic.com/~lynn/2012e.html#20 Are mothers naturally better at OODA because they always have the Win in mind?
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Thu, 22 Aug 2013 11:01:27 -0400Soupe du Jour <soupedujour2000@gmail.com.Rem0ve> writes:
with the majority of server chips going to servers in the mega-datacenters ... basically eliminating sever profit margins since the mega-datacenters view it as "cost" ... rather than "profit" .... and with some of the vendors starting to offer servers at close to mega-datacenter costs ... resulting in razor thin profit margins ... some of the vendors have tried to go a little up the value stream with fully tricked out "container" datacenters
Pick your hardware vision: Open Compute Project vs. 'data centers in a
box' Two opposing trends gaining momentum in IT hardware procurement:
Open source design vs. convergence
http://www.networkworld.com/news/2013/112113-google-trumpets-chrome39s-spdy-276228.html
from this recent post
https://www.garlic.com/~lynn/2013j.html#70 Internet Mainframe Forums Considered Harmful
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From: lynn@garlic.com Subject: The agency problem and how to create a criminogenic environment Date: 21 Aug 2013 Blog: Financial Crime Risk, Fraud and Securityre:
some relations .... Gerstner was in competition to be next CEO of
AMEX. The looser leaves and takes Jamie Dimon, his protege with
him. They go to Baltimore and this description has them taking over a
loan sharking business
http://www.counterpunch.org/2012/05/15/why-jamie-dimons-2-billion-gambling-loss-will-not-speed-financial-reform/
They do some number of other take-overs and eventual acquire Citibank in violation of Glass-Steagall. Greenspan gives them an exemption while they lobby congress for repeal of Glass-Steagall and creation of too-big-to-fail. Dimon leaves and turns up as head of JPMorgan.
AMEX & KKR are in competition for reverse-IPO (leveraged buyout, private-equity take-over) of RJR. KKR wins but runs into some trouble and hires away Gerstner to turn around RJR.
IBM has gone into the red and had been re-organized into the 13 "baby blues" in preparation for breakup. IBM board hires Gerstner away to resurrect IBM (and reverse the break-up).
Traditional mechanism of leverage buyout, reverse-IPO is private-equity borrows huge amount of money for the purchase and also pay themselves enormous fees and commissions ... and then later does an IPO ... sort of like flipping house ... however it is pure profit since they don't pay off the original loan ... which goes on the books of the company bought and then IPO'ed (they even turn a profit if they IPO for less than they originally payed).
Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens,
http://books.google.com/books?id=u655GkaMkwgC&pg=PA216&lpg=PA216#v=onepage&q&f=false
pg216/loc4511-14:
Plenty of good firms have gone bust as a result of this offshore
debt-loading, which the New York Times in 2009 described as "a Wall
Street version of 'Flip This House.'" 48 More than half of the
companies that defaulted on their debt that year were either
previously or currently owned by private equity firms.
... snip ...
http://www.nytimes.com/2009/10/05/business/economy/05simmons.html
lots of top executives have their bonuses tied to stock price ... stock buybacks boost stock price and helps them make their bonuses
Stockman in "The Great Deformation: The Corruption of Capitalism in
America" ... talks about stock buybacks as a mini-form of LBO
(leverage buyout), with the executives reaping huge rewards,
pg457/loc9844-46:
The leader was ExxonMobil, which repurchased $160 billion of its own
shares during 2004-2011. It was followed by Microsoft at $100 billion,
IBM at $75 billion, and Hewlett-Packard, Proctor & Gamble, and Cisco
with $50 billion each. Even the floundering shipwreck of merger mania
known as Time Warner Inc. bought back $25 billion.
pg464/loc9995-10000:
IBM was not the born-again growth machine trumpeted by the mob of Wall
Street momo traders. It was actually a stock buyback contraption on
steroids. During the five years ending in fiscal 2011, the company
spent a staggering $67 billion repurchasing its own shares, a figure
that was equal to 100 percent of its net income.
pg465/10014-17:
Total shareholder distributions, including dividends, amounted to $82
billion, or 122 percent, of net income over this five-year
period. Likewise, during the last five years IBM spent less on capital
investment than its depreciation and amortization charges, and also
shrank its constant dollar spending for research and development by
nearly 2 percent annually.
... snip ..
some more relations ... supposedly about Summers for fed reserve
... but also goes into some detail why (too-big-to-fail) citi
(possibly the worst of the bunch) wasn't held accountable: "Why Larry
Summers' Ego Matters"
http://www.zerohedge.com/news/2013-08-12/why-larry-summers-ego-matters
Geithner
https://en.wikipedia.org/wiki/Timothy_Geithner
from above:
He was Under Secretary of the Treasury for International Affairs
(1998-2001) under Treasury Secretaries Robert Rubin and Lawrence
Summers.[9] Summers was his mentor,[17][18] but other sources call him
a Rubin protege
... snip ...
although this has Summers working for citibank also: "Center For
American Progress Says Larry Summers 'Not A Wall Street Guy'"
http://news.firedoglake.com/2013/08/14/center-on-american-progress-says-larry-summers-not-a-wall-street-guy/
from above:
Mr. Summers, 58, has been employed by the megabank Citigroup and the
sprawling hedge fund D. E. Shaw. He works for a firm that advises
small banks as well as the exchange company Nasdaq OMX. And he serves
on the board of two Silicon Valley start-ups: both financial firms
that may pursue initial public offerings in the next year
... snip ...
Summers
https://en.wikipedia.org/wiki/Lawrence_Summers
from above
In 1993 Summers was appointed Undersecretary for International Affairs
and later in the United States Department of the Treasury under the
Clinton Administration. In 1995, he was promoted to Deputy Secretary
of the Treasury under his long-time political mentor Robert Rubin. In
1999, he succeeded Rubin as Secretary of the Treasury.
... snip ...
Rubin
https://en.wikipedia.org/wiki/Robert_Rubin
and
http://www.marketswiki.com/mwiki/Robert_E._Rubin
from above
Rubin began his career as an attorney at the firm of Cleary, Gottlieb,
Steen & Hamilton in New York City from 1964 to 1966. He then joined
Goldman, Sachs & Company as an associate in 1966, became a general
partner in 1971 and joined the management committee in 1980. Rubin was
vice-chairman and co-chief operating officer from 1987 to 1990 and
served as co-senior partner and co-chairman from 1990 to 1992.
... snip ...
after helping Citigroup get Glass-Steagall repealed, Rubin resigns
other posts mentioning repeal of Glass-Steagall
https://www.garlic.com/~lynn/submisc.html#Pecora&/orGlass-Steagall
Former Treasury Secretary to Help Lead Citigroup Finance: Robert
E. Rubin will join the firm's chairmen and co-CEOs in an unusual
power-sharing arrangement.
http://articles.latimes.com/1999/oct/27/business/fi-26680
... another set of relations ...
Drake also brought out the spreading Success Of Failure culture in
the government
http://www.govexec.com/excellence/management-matters/2007/04/the-success-of-failure/24107/
other posts mentioning Success of Failure
https://www.garlic.com/~lynn/submisc.html#success.of.failuree
congress then put the agency on probation, not allowed to manage its own projects ... but that may have just been part of further privatizing the government.
more for-profit tiein: the head of IBM (linkedin drops the trailing
period in the URL)
https://en.wikipedia.org/wiki/Louis_V._Gerstner,_Jr.
. leaves and becomes chairman of
https://en.wikipedia.org/wiki/Carlyle_Group
which then does private equity buyout of
https://en.wikipedia.org/wiki/Booz_Allen_Hamilton
Spies Like Us
http://www.investingdaily.com/17693/spies-like-us/
from above:
Private contractors like Booz Allen now reportedly garner 70 percent
of the annual $80 billion intelligence budget and supply more than
half of the available manpower.
... snip ...
How Booz Allen Hamilton Swallowed Washington
http://www.zerohedge.com/news/2013-06-23/visualizing-how-booz-allen-hamilton-swallowed-washington
Larry Summers and the Secret "End-Game" Memo
http://www.gregpalast.com/larry-summers-and-the-secret-end-game-memo/
from above:
While billions of sorry souls are still hurting from worldwide
banker-made disaster, Rubin and Summers didn't do too badly. Rubin's
deregulation of banks had permitted the creation of a financial
monstrosity called "Citigroup." Within weeks of leaving office, Rubin
was named director, then Chairman of Citigroup ... which went bankrupt
while managing to pay Rubin a total of $126 million.
... snip ...
The Confidential Memo at the Heart of the Global Financial Crisis
http://www.vice.com/en_uk/read/larry-summers-and-the-secret-end-game-memo
Rubin Leaving Citigroup; Smith Barney for Sale
http://www.nytimes.com/2009/01/10/business/10rubin.html
one of the Team B scanarios has the head of CIA rebutting the Team
B analysis, Ford then replaces him with somebody that would go along
with Team B analysis
https://en.wikipedia.org/wiki/Team_B
other posts mentioning Team B
https://www.garlic.com/~lynn/submisc.html#team.b
That person then goes on to be VP ... and (Black's Best Way to Rob a
Bank) the executive branch point-person for deregulation and removal
of oversight ... and his son was a major player in looting a S&L
https://en.wikipedia.org/wiki/Savings_and_loan_crisis#Silverado_Savings_and_Loan
from above:
Neil Bush paid a $50,000 fine, paid for him by Republican
supporters,[28] and was banned from banking activities for his role in
taking down Silverado, which cost taxpayers $1.3 billion. A Resolution
Trust Corporation Suit against Bush and other officers of Silverado
was settled in 1991 for $26.5 million
... snip ...
this mentions other members of the family
http://critcrim.org/critpapers/potter.htm
during the same administration, Team B is heavy player supporting
Saddam
https://en.wikipedia.org/wiki/United_States_support_for_Iraq_during_the_Iran-Iraq_war
in the iran/iraq war
https://en.wikipedia.org/wiki/Iran-Iraq_War
they then go on to
help with US being arms merchants to both sides
https://en.wikipedia.org/wiki/Iran-Contra_affair
He then becomes president. This has sat. photo recon analyst warning
Iraq staging forces for invasion of Kuwait. The administration
discredits the analyst and declares Saddam would do no such
thing. When the analyst starts warning that Iraq is staging forces for
invasion of Sandi Arabia, the executive branch finally starts taking
measures to do something.
https://www.amazon.com/Long-Strange-Journey-Intelligence-ebook/dp/B004NNV5H2/
The start of this century, presidential records from the 80s are to be released to the public. One of the new president's first executive orders is to keep those records classified. Reports are that Team B starts planning for the new invasion of Iraq ... well before 9/11. This is in parallel with continued deregulation of financial industry ... with some of the same players from the 80s.
gerstner posts
https://www.garlic.com/~lynn/submisc.html#gerstner
private equity posts
https://www.garlic.com/~lynn/submisc.html#private.equity
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From: lynn@GARLIC.COM (Anne & Lynn Wheeler) Subject: Re: DASD, Tape and other peripherals attached to a Mainframe Newsgroups: bit.listserv.ibm-main Date: 23 Aug 2013 06:18:28 -0700quasar.chunawalla@GMAIL.COM (Quasar Chunawala) writes:
as you found out real CKD DASD hasn't existed for decades it is all
simulated ("virtualized") on fixed-block disks. past posts mentioning
CKD & FBA disks
https://www.garlic.com/~lynn/submain.html#dasd
FICON channels are a protocol layer (simulation/virtualization) on
fibre-channel standard (FICON layer happens to drastically cut the
throughput of native FCS). past posts mentioning FICON
https://www.garlic.com/~lynn/submisc.html#ficon
disk array was invented by somebody in IBM San Jose disk division
(patent in 1978)
https://en.wikipedia.org/wiki/RAID
but IBM doesn't even have a disk division anymore. disclaimer ... they
use to let me play disk engineer in bldgs. 14&15 where Ken worked
https://www.garlic.com/~lynn/subtopic.html#disk
correctable redunancy codes have been used to *correct* failing bits in
storage. it is also used in forward-error-correcting (FEC) code in data
transmission ... not just parity bits for error detection ... but enough
additional information to correct error transmissions). Common
transmission FEC codes are Viterbi and Reed-Solomon.
https://en.wikipedia.org/wiki/Error_detection_and_correction
disclaimer ... I used to have a project called high-speed data transport
... one of the people working on it was graduate student of Reed and had
done a lot of work on Reed-Solomon.
https://en.wikipedia.org/wiki/Reed-Solomon_error_correction
HSDT also did some work with Cyclotomics up in Berkeley that produced
Reed-Solomon products ... as well as a lot of the work in the cdrom
standard (cyclotomics was later bought by Kodak, one of the founders of
cyclotomics was Berlekamp)
https://www.garlic.com/~lynn/subnetwork.html#hsdt
common disk failure mode is whole disk failure. simplist disk array is mirroring ... replicate writing every piece of data to two different real disks. If one fails, there is still redundant copy.
high-performance computing combines striping and error correcting ...
say 32+8 (32 data disks, 8 error correcting disks). A record is divided
into 32 parts ... and 8 error correcting pieces are calculated ... then
all 40 pieces are written in parallel across all 40 disks. It logical
works as a single disk that is 32 times larger than a "normal" disk with
data-transmission happening 32 times faster. DataVault, 32+8 shows up in
1985 for high-performance computing.
https://en.wikipedia.org/wiki/Thinking_Machines_Corporation
Trivia ... Brewster Kahle ... from above, leaves and forms WAIS, Inc
... that is then bought by AOL ... Kahle then creates the wayback
machine.
http://archive.org/index.php
a more complex operation is done for DBMS operation. a 5+1 ... involves five data disks plus one error correcting disk .... but can read multiple different records concurrently ... but writes are more complex the raid wiki article goes into more detail.
--
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From: lynn@garlic.com Subject: John Boyd's Art of War Date: 27 Aug 2013 Blog: Facebookre:
They moderate the postings here
http://www.theamericanconservative.com/articles/john-boyds-art-of-war/
and my replay to "How the OODA-Loop Led to America's Greatest Strategic Disaster" ... i.e. OODA-loop was part of the low-ball justification for the invasion (common spinney theme for weapons programs) ... and the cost turns out to be 100 times greater (most repeats from Iraq invasion threads here)
Invasion of Iraq ... more like Team B bait & switch ... upthread I've also mentioned unintended consequences of the WMD fabrication.
In
https://www.amazon.com/Ikes-Bluff-President-Eisenhowers-ebook/dp/B0076DCPI4/
one of the points about CIA U2 was Eisenhower was able to use photo
recon to debunk analysis supporting DOD request for 20% increase in
budget ... which possibly contributed to his goodby warning about
MICC. posts mentioning micc
https://www.garlic.com/~lynn/submisc.html#military.industrial.complex
Accounts in the mid-70s have head of CIA rejecting Team B analysis
... the president replaces him with somebody that would go along with
Team B analysis
https://en.wikipedia.org/wiki/Team_B
later Team B is supporting Saddam
https://en.wikipedia.org/wiki/United_States_support_for_Iraq_during_the_Iran-Iraq_war
in
https://en.wikipedia.org/wiki/Iran-Iraq_War
then contribute to US as arms merchant to both sides
https://en.wikipedia.org/wiki/Iran-Contra_affair
This has sat. photo recon analyst warning Iraq staging forces for
invasion of Kuwait. The white house discredits the analyst and
declares Saddam would do no such thing. When the analyst starts
warning that Iraq is staging forces for invasion of Sandi Arabia, the
executive branch finally starts taking measures to do something.
https://www.amazon.com/Long-Strange-Journey-Intelligence-ebook/dp/B004NNV5H2/
posts mentioning Team B
https://www.garlic.com/~lynn/submisc.html#team.b
Another decade, and claims are Team B is making plans for another Iraq invasion, well before 9/11. Initial justification includes claims that it would only cost $50B (along with fabricating claims about WMDs). Some more recent analysis is that long term it could grow to $5T (a factor of 100-fold increase) with medical & veterans benefits.
In 2010, CBO has spending increase of $6T and tax revenues reduced by $6T, compared to baseline (which not only had balanced budget ... but all Federal debt retired by 2010) for a $12T budget gap (mostly after congress let fiscal responsibility act expire in 2002, which required that spending match tax revenue). Winslow (no relation) in 2010, has over $2T, of the $6T spending increase over baseline, going to DOD, something over $1T increase for the two wars and the other $1+T couldn't account for.
Besides working with Team B,
https://www.amazon.com/Best-Way-Rob-Bank-Own-ebook/dp/B00H5B9Z80/
has him point person in the administration during the 80s, in charge
of eliminating regulation and oversight for S&L industry opening the
way for looting the S&Ls ... including his own son
https://en.wikipedia.org/wiki/Savings_and_loan_crisis#Silverado_Savings_and_Loan
other accounts have additional family members playing
MICC (& Team B) continues ...
http://chuckspinney.blogspot.com/p/domestic-roots-of-perpetual-war.html
the "reform effort" from the 80s maturing into
http://chuckspinney.blogspot.com/p/pentagon-labyrinth.html
another loop "The Defense Death Spiral"
http://chuckspinney.blogspot.com/p/links-to-my-reports.html
and last decade elimination of regulation and oversight more
destructive than S&L crisis.
other MICC & Team B refs
https://www.amazon.com/Prophets-War-Lockheed-Military-Industrial-ebook/dp/B0047T86BA/
https://www.amazon.com/National-Insecurity-American-Militarism-ebook/dp/B00ATLNI04/
https://www.amazon.com/Merchants-of-Doubt-ebook/dp/B003RRXXO8/
https://en.wikipedia.org/wiki/Paul_Wolfowitz
other Iraq invasion fabrication ref
https://www.amazon.com/EXTREME-PREJUDICE-Terrifying-Patriot-ebook/dp/B004HYHBK2/
http://www.theguardian.com/world/2013/mar/18/panorama-iraq-fresh-wmd-claims
other S&L Crisis and financial meltdown refs
https://en.wikipedia.org/wiki/William_K._Black
recent posts mentioning S&L Crisis:
https://www.garlic.com/~lynn/2013.html#49 Insider Fraud: What to Monitor
https://www.garlic.com/~lynn/2013.html#68 Choice of Mary Jo White to Head SEC Puts Fox In Charge of Hen House
https://www.garlic.com/~lynn/2013b.html#44 Adair Turner: A New Debt-Free Money Advocate
https://www.garlic.com/~lynn/2013b.html#50 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013d.html#25 Senator Sherrod Brown Drops a Bombshell in Mary Jo White's Hearing
https://www.garlic.com/~lynn/2013d.html#64 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#68 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#70 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#86 What Makes a thread about the European debt crisis Bizarre?
https://www.garlic.com/~lynn/2013h.html#65 OT: "Highway Patrol" back on TV
https://www.garlic.com/~lynn/2013j.html#18 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013j.html#61 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#73 Why DOJ Deemed Bank Execs Too Big To Jail
https://www.garlic.com/~lynn/2013j.html#80 Why DOJ Deemed Bank Execs Too Big To Jail
https://www.garlic.com/~lynn/2013k.html#26 The agency problem and how to create a criminogenic environment
https://www.garlic.com/~lynn/2013k.html#29 The agency problem and how to create a criminogenic environment
https://www.garlic.com/~lynn/2013k.html#32 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#35 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#41 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#43 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#52 The agency problem and how to create a criminogenic environment
https://www.garlic.com/~lynn/2013k.html#54 What Makes a Tax System Bizarre?
--
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Tue, 27 Aug 2013 13:51:33 -0400greymausg <maus@mail.com> writes:
Traditional mechanism of leverage buyout, reverse-IPO is private-equity borrows huge amount of money for the purchase and also pay themselves enormous fees and commissions ... and then later does an IPO ... sort of like flipping house ... however it is pure profit since they don't pay off the original loan ... which goes on the books of the company bought and then IPO'ed (they even turn a profit if they IPO for less than they originally payed).
Treasure Islands: Uncovering the Damage of Offshore Banking and Tax Havens,
http://books.google.com/books?id=u655GkaMkwgC&pg=PA216&lpg=PA216#v=onepage&q&f=false
pg216/loc4511-14:
Plenty of good firms have gone bust as a result of this offshore debt-loading, which the New York Times in 2009 described as "a Wall Street version of 'Flip This House.'" 48 More than half of the companies that defaulted on their debt that year were either previously or currently owned by private equity firms.
... snip ...
http://www.nytimes.com/2009/10/05/business/economy/05simmons.html
i.e. in house flipping, need to sell for more than paid in order to pay off the original mortgage. in company flipping, the original loan is large enough to cover commissions, fees, and bonuses and goes on company books so that subsequent sale is all profit (and the sold company is responsible for the original loan).
recent blog post from yesterday showing some of the numbers
http://johnhively.wordpress.com/2013/08/26/5602/
similar but different to this older version ... where the increasing
spread between productivity and flat compensation goes into the pockets
of the 1%
http://www.nytimes.com/imagepages/2011/09/04/opinion/04reich-graphic.html
recent posts mentioning the above:
https://www.garlic.com/~lynn/2013.html#15 Search Google, 1960:s-style
https://www.garlic.com/~lynn/2013d.html#65 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#7 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013e.html#15 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#77 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013i.html#54 How do you feel about the fact that India has more employees than US?
https://www.garlic.com/~lynn/2013i.html#81 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013i.html#91 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#2 IBM Relevancy in the IT World
https://www.garlic.com/~lynn/2013k.html#33 Management Secrets From Inside GE
https://www.garlic.com/~lynn/2013k.html#50 IBM Furloughs U.S. Hardware Employees to Reduce Costs
https://www.garlic.com/~lynn/2013k.html#51 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#57 The agency problem and how to create a criminogenic environment
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: John Boyd's Art of War Date: 27 Aug 2013 Blog: Boyd Disciplesre:
John Boyd's Art of War; Why our greatest military theorist only made
colonel
http://www.theamericanconservative.com/articles/john-boyds-art-of-war/
other
https://www.garlic.com/~lynn/2013k.html#48 John Boyd's Art of War
https://www.garlic.com/~lynn/2013k.html#59 John Boyd's Art of War
Chet's Spinney on Lind
http://slightlyeastofnew.com/2013/08/18/spinney-on-lind/
Bob's Chuck Spinney: An American Sun Tzu -- John Boyd Chuck's American
Sun Tzu
http://chuckspinney.blogspot.com/2013/08/american-sun-tzu.htm
also some over at (facebook) "Boyd&Beyond"
then there is Don's The Path to Victory
https://www.amazon.com/The-Path-to-Victory-ebook/dp/B00EHV3ADW/
loc1832-36:
Although Kissinger's "new breed" of officer favored bureaucratic
fighting in the Pentagon, large headquarters, and with Congress,
talented officers were unable to address the issue of how to win on
the battlefield in Vietnam.
loc1836-37:
Officers were becoming "organization men." They could harm their
careers with bluntness and candor.
loc1871-77:
The process of obtaining all the right career building blocks to get
promoted and command became known as "ticket-punching."
... snip ...
posts mentioning Boyd &/or OODA-loop
https://www.garlic.com/~lynn/subboyd.html
somewhat related; mid-80s, top IBM executives were predicting that IBM revenue was about to double from $60B/yr to $120/B, mostly based on increase in mainframe sales and they had massive internal building program to double mainframe manufacturing capacity and big influx in "fast-track" MBAs doing 6month rotations through various executive positions (somewhat to the detriment of the victim organizations). However, indiciations were already starting to show that mainframe business was starting to head in the other direction (it wasn't exactly career enhancing to point it out).
one of the factors was highlighted by a senior disk engineer that got
a talk scheduled at the annual, world-wide communication group
conference and opened the talk with the statement that the
communication group was going to be responsible for the demise of the
disk division. The issue was the communication group had strategic
responsibility for everything that crossed the walls of (mainframe)
datacenter which they were strangling attempting to preserve their
(emulated) dumb terminal paradigm (and install base). The disk
division was seeing the results with drop in disk sales as data was
fleeing mainframe datacenters to more distributed computing friendly
platforms. The disk division had come up with a number of solutions to
address the problem, but they were constantly being vetoed by the
communication group
https://www.garlic.com/~lynn/subnetwork.html#terminal
Mainframes continue their decline and by the early 90s, the company is
in the red. The top executives have reorganized it into 13 business
units in preparation for break up ... behind paywall
http://www.time.com/time/magazine/article/0,9171,977353,00.html
lives free at wayback machine
https://web.archive.org/web/20101120231857/http://www.time.com/time/magazine/article/0,9171,977353,00.html
One of the things that IBM and several other large corporations did in
the mid-90s was lobby for an accounting change that allowed for
pension reserves to be treated as an asset, increasing the value/share
pumping up stock price and adding to top executive bonuses. more
recent
https://en.wikipedia.org/wiki/Louis_V._Gerstner,_Jr.
leaves and becomes chairman of
https://en.wikipedia.org/wiki/Carlyle_Group
which then does private equity buyout of
https://en.wikipedia.org/wiki/Booz_Allen_Hamilton
Spies Like Us
http://www.investingdaily.com/17693/spies-like-us/
Private contractors like Booz Allen now reportedly garner 70 percent
of the annual $80 billion intelligence budget and supply more than
half of the available manpower.
... snip ...
How Booz Allen Hamilton Swallowed Washington
http://www.zerohedge.com/news/2013-06-23/visualizing-how-booz-allen-hamilton-swallowed-washington
gerstner posts
https://www.garlic.com/~lynn/submisc.html#gerstner
private equity posts
https://www.garlic.com/~lynn/submisc.html#private.equity
--
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: Suggestions Appreciated for a Program Counter History Log Newsgroups: comp.lang.asm.x86, alt.folklore.computers, comp.arch Date: Wed, 28 Aug 2013 11:24:47 -0400Shmuel (Seymour J.) Metz wrote:
early in VM370, somebody from univ. of maine wrote a lot of kernel code that supported a large number of options for debugging utilizing PER hardware
some more early history at vmshare archives (online computer
communication provided by tymshare "free" to share organization
starting Aug1976 ... search on PER and/or program event recording
http://vm.marist.edu/~vmshare
Internal IBM had something called REDCAP ... that did full instruction
simulation ... providing all sorts of analysis about executing program.
In the early 70s, the cambridge scientific center utilized REDCAP for
analysing hot-spot execution and virtual memory behavior ... recording
all instruction fetch and data references. misc. past posts mentioning
science center
https://www.garlic.com/~lynn/subtopic.html#545tech
One of the first practical use (as opposed to general research) was for
the port of apl\360 to CMS for (cp67) cms\apl. Part of this was allowing
workspace to be virtual memory size (apl\360 workspace was typically
limited to 16kbytes). A big problem was how apl\360 did storage
allocation and garbage collection ... which was to assign new storage
location for every assignment statement. Even for program with small
number of variables ... it would quickly touch every storage location in
the workspace. In small swapped apl\360 environment ... it wasn't a
noticable problem ... however migration to demand-page large virtual
memory/workspace ... it had horrible paging characteristics. misc.
past posts mentioning APL (&/or HONE ... an internal world-wide
sales&marketing support that extensively used cms\apl and then
moved to apl\cms)
https://www.garlic.com/~lynn/subtopic.html#hone
Increasing sophistication of the virtual memory behavior analysis eventually evolved into vs/repack that was released from science center as product in 1976. vs/repack included semi-automated program reorganization for improving operation in virtual memory environment. vs/repack was also used extensively inside IBM for many of the legacy programs & applications migrating to virtual memory environment (including large DBMS operations like IMS).
I did a quick hack to vm370 in support of vs/repack ... which had much less overhead of (REDCAP) full instruction trace ... but almost provided the same quality for program reorg. Execution of program would be done in squeezed number of valid pages (all the pages could be resident in memory ... just the number of valid pages were limited). Trace was then faulting virtual page numbers in the squeezed environment. For virtual memory program re-org ... this provided nearly same quality as full instruction trace.
misc. recent posts mentioning vs/repack
https://www.garlic.com/~lynn/2010j.html#81 Percentage of code executed that is user written was Re: Delete all members of a PDS that is allocated
https://www.garlic.com/~lynn/2010k.html#8 Idiotic programming style edicts
https://www.garlic.com/~lynn/2010k.html#9 Idiotic programming style edicts
https://www.garlic.com/~lynn/2010m.html#5 Memory v. Storage: What's in a Name?
https://www.garlic.com/~lynn/2011e.html#8 Multiple Virtual Memory
https://www.garlic.com/~lynn/2012d.html#73 Execution Velocity
https://www.garlic.com/~lynn/2012j.html#20 Operating System, what is it?
https://www.garlic.com/~lynn/2012j.html#82 printer history Languages influenced by PL/1
https://www.garlic.com/~lynn/2012o.html#19 Assembler vs. COBOL--processing time, space needed
https://www.garlic.com/~lynn/2012o.html#20 Assembler vs. COBOL--processing time, space needed
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Wed, 28 Aug 2013 14:41:08 -0400Andrew Swallow <am.swallow@btinternet.com> writes:
this chronicles continuing to this day
https://www.amazon.com/Confessions-Economic-Hit-none-ebook/dp/B001AFF266/
other recent posts:
https://www.garlic.com/~lynn/2013.html#15 Search Google, 1960:s-style
https://www.garlic.com/~lynn/2013.html#26 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2013.html#46 The China Threat: The MICC Pivots Obama Back to the Future
https://www.garlic.com/~lynn/2013.html#57 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013d.html#98 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#7 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013e.html#25 What Makes bank regulation and insurance Bizarre?
https://www.garlic.com/~lynn/2013i.html#78 Has the US Lost Its Grand Strategic Mind?
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Wed, 28 Aug 2013 17:59:55 -0400Anne & Lynn Wheeler <lynn@garlic.com> writes:
some breaking news from today
Swiss Agree on Program for Banks to Settle U.S. Dispute
http://www.bloomberg.com/news/2013-08-28/swiss-give-green-light-for-banks-to-settle-u-s-dispute.html
Switzerland Agrees on Plan for Banks to Settle U.S. Tax Spat
http://washpost.bloomberg.com/Story?docId=1376-MS8ETI6JIJV901-7UC73PJR7BLLDI0KGOOFVJA4IB
from above:
Switzerland, the world's largest offshore financial center with about
$2.2 trillion of assets, wants to prevent another bank suffering the
fate of Wegelin & Co., which was indicted last year. Wegelin, the
country's oldest bank, pleaded guilty in January to helping
U.S. taxpayers hide assets and has since closed its doors.
... snip ...
however, the estimate is that there is total offshore between $22 TRILLION & $30 TRILLION
from a month ago:
Liechtenstein Bank to Pay $23.8 Million in U.S. Tax Case
http://www.bloomberg.com/news/2013-07-31/liechtenstein-bank-to-pay-23-8-million-in-u-s-tax-case.html
...
we were at Liechtenstein financial conference in 2004 for Euro CEOs and
presidents of Euro exchanges ... theme that year was costs of
Sarbanes-Oxley leaking into Europe (i pontificated about being able to
program computer so all books were internally consistent ... passing
audit that didn't look for external corroborating data). One of the
comments was that Swiss banks had exported the actual money laundering
transactions over the border in Liechtenstein. a few past posts
mentioning Liechtenstein
https://www.garlic.com/~lynn/2011f.html#62 Mixing Auth and Non-Auth Modules
https://www.garlic.com/~lynn/2011f.html#64 Are Americans serious about dealing with money laundering and the drug cartels?
https://www.garlic.com/~lynn/2012.html#34 Mitt Romney avoids U.S tax by using Offshore bank accounts
https://www.garlic.com/~lynn/2013e.html#95 Secrecy for Sale: Inside the Global Offshore Money Maze
past posts mentioning money laundering
https://www.garlic.com/~lynn/submisc.html#money.laundering
past posts mentioning sarbanes-oxley
https://www.garlic.com/~lynn/submisc.html#sarbanes-oxley
--
virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: NASA Finally Figured Out How to Develop Technology -- Then Promptly Forgot Date: 28 Aug 2013 Blog: Boyd Disciplesre:
NASA Finally Figured Out How to Develop Technology -- Then Promptly Forgot
https://medium.com/war-is-boring/c7e1e2a1528
from above:
In 1992, then-NASA administrator Dan Goldin launched an initiative
called Faster, Better, Cheaper. It was meant to develop new
technologies ... well, faster, better and cheaper.
... snip ...
in contrast to Success Of Failure culture
http://www.govexec.com/management/management-matters/2007/04/the-success-of-failure/24107/
posts mentioning Success Of Failure
https://www.garlic.com/~lynn/submisc.html#success.of.failuree
if you undermine on organization sufficiently from the inside ... then
it makes it much easier to make the case that it needs replacement
http://answers.yahoo.com/question/index?qid=20110729142745AAI42OG
possibly unintended consequences:
China's Trouncing Of U.S. In Space Race: "Unmistakable Warning Signs"
http://warnewsupdates.blogspot.com/2013/08/is-china-trouncing-us-in-new-space-race.html
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: German infosec agency warns against Trusted Computing in Windows 8 Newsgroups: alt.folklore.computers Date: Thu, 29 Aug 2013 10:24:03 -0400German infosec agency warns against Trusted Computing in Windows 8
more than decade ago ... the lead technical director for information
assurance was running panel in the trusted computing track at intel
developers conference ... and i was asked to be one of the panelist
... old reference ... gone 404 but lives on at wayback machine
https://web.archive.org/web/20011109072807/http://www.intel94.com/idf/spr2001/sessiondescription.asp?id=stp%2bs13
overheads for my talk
https://www.garlic.com/~lynn/iasrtalk.zip
part of my talk was on KISS and my AADS chip
https://www.garlic.com/~lynn/x959.html#aads
The guy running TPM was sitting in the front row, so I commented that it was nice to see that the TPM was (getting simpler) and starting to look a lot more like my AADS chip. He quiped back that I didn't have a committee of 200 people helping me with the design. One of my points was that the much simpler AADS chip could be leveraged to accomplish everything they were trying to do with the TPM. Part of the issue is vulnerabilities (planned or not) tend to be proporitional to complexity. In the past, I've also been vocal that backdoors are vulnerable to bad guys discovering them and leveraging them for unintended purposes.
similar but different assruance conference the NASA highly dependable
computer workshop ... I was keynote (along with Jim Gray) ... also
gone 404
https://web.archive.org/web/20011004023230/http://www.hdcc.cs.cmu.edu/may01/index.html
other refs
https://www.garlic.com/~lynn/index.html#presentation
past posts mentioning TPM
https://www.garlic.com/~lynn/aadsm5.htm#asrn4 assurance, X9.59, etc
https://www.garlic.com/~lynn/aadsm12.htm#19 TCPA not virtualizable during ownership change (Re: Overcoming the potential downside of TCPA)
https://www.garlic.com/~lynn/aadsm13.htm#18 A challenge
https://www.garlic.com/~lynn/aadsm22.htm#41 FraudWatch - Chip&Pin, a new tenner (USD10)
https://www.garlic.com/~lynn/aadsm23.htm#56 UK Detects Chip-And-PIN Security Flaw
https://www.garlic.com/~lynn/aadsm24.htm#19 Use of TPM chip for RNG?
https://www.garlic.com/~lynn/aadsm24.htm#21 Use of TPM chip for RNG?
https://www.garlic.com/~lynn/aadsm24.htm#22 Naked Payments IV - let's all go naked
https://www.garlic.com/~lynn/aadsm24.htm#23 Use of TPM chip for RNG?
https://www.garlic.com/~lynn/aadsm24.htm#26 Naked Payments IV - let's all go naked
https://www.garlic.com/~lynn/aadsm24.htm#27 DDA cards may address the UK Chip&Pin woes
https://www.garlic.com/~lynn/aadsm24.htm#28 DDA cards may address the UK Chip&Pin woes
https://www.garlic.com/~lynn/aadsm24.htm#46 More Brittle Security -- Agriculture
https://www.garlic.com/~lynn/aadsm24.htm#52 Crypto to defend chip IP: snake oil or good idea?
https://www.garlic.com/~lynn/aadsm25.htm#4 Crypto to defend chip IP: snake oil or good idea?
https://www.garlic.com/~lynn/aadsm25.htm#44 TPM & disk crypto
https://www.garlic.com/~lynn/aadsm26.htm#13 Who has a Core Competency in Security?
https://www.garlic.com/~lynn/aadsm27.htm#9 Enterprise Right Management vs. Traditional Encryption Tools
https://www.garlic.com/~lynn/aadsm27.htm#36 TPM, part 2
https://www.garlic.com/~lynn/aadsm28.htm#12 #4.2 Simplicity is Inversely Proportional to the Number of Designers
https://www.garlic.com/~lynn/2002i.html#71 TCPA
https://www.garlic.com/~lynn/2002n.html#18 Help! Good protocol for national ID card?
https://www.garlic.com/~lynn/2005o.html#3 The Chinese MD5 attack
https://www.garlic.com/~lynn/2006p.html#41 Device Authentication - The answer to attacks lauched using stolen passwords?
https://www.garlic.com/~lynn/2006p.html#48 Device Authentication - The answer to attacks lauched using stolen passwords?
https://www.garlic.com/~lynn/2006s.html#34 Basic Question
https://www.garlic.com/~lynn/2006v.html#26 Fighting Fraudulent Transactions
https://www.garlic.com/~lynn/2006w.html#37 What does a patent do that copyright does not?
https://www.garlic.com/~lynn/2007b.html#30 How many 36-bit Unix ports in the old days?
https://www.garlic.com/~lynn/2007c.html#44 Securing financial transactions a high priority for 2007
https://www.garlic.com/~lynn/2007g.html#61 The Perfect Computer - 36 bits?
https://www.garlic.com/~lynn/2007g.html#63 The Perfect Computer - 36 bits?
https://www.garlic.com/~lynn/2007i.html#5 John W. Backus, 82, Fortran developer, dies
https://www.garlic.com/~lynn/2007k.html#55 My Dream PC -- Chip-Based
https://www.garlic.com/~lynn/2007l.html#42 My Dream PC -- Chip-Based
https://www.garlic.com/~lynn/2007m.html#20 Patents, Copyrights, Profits, Flex and Hercules
https://www.garlic.com/~lynn/2007n.html#52 Windows Monitor or CUSP?
https://www.garlic.com/~lynn/2007q.html#32 what does xp do when system is copying
https://www.garlic.com/~lynn/2007q.html#36 what does xp do when system is copying
https://www.garlic.com/~lynn/2007t.html#8 Translation of IBM Basic Assembler to C?
https://www.garlic.com/~lynn/2007u.html#5 Public Computers
https://www.garlic.com/~lynn/2007v.html#37 Apple files patent for WGA-style anti-piracy tech
https://www.garlic.com/~lynn/2008e.html#34 The hands-free way to steal a credit card
https://www.garlic.com/~lynn/2008p.html#14 Can Smart Cards Reduce Payments Fraud and Identity Theft?
https://www.garlic.com/~lynn/2008p.html#19 Can Smart Cards Reduce Payments Fraud and Identity Theft?
https://www.garlic.com/~lynn/2009j.html#58 Price Tag for End-to-End Encryption: $4.8 Billion, Mercator Says
https://www.garlic.com/~lynn/2009k.html#5 Moving to the Net: Encrypted Execution for User Code on a Hosting Site
https://www.garlic.com/~lynn/2009l.html#61 Hacker charges also an indictment on PCI, expert says
https://www.garlic.com/~lynn/2009m.html#2 Does this count as 'computer' folklore?
https://www.garlic.com/~lynn/2009m.html#48 Hacker charges also an indictment on PCI, expert says
https://www.garlic.com/~lynn/2009m.html#49 Hacker charges also an indictment on PCI, expert says
https://www.garlic.com/~lynn/2009p.html#59 MasPar compiler and simulator
https://www.garlic.com/~lynn/2010c.html#11 PC history, was search engine history, was Happy DEC-10 Day
https://www.garlic.com/~lynn/2010c.html#61 Engineer shows how to crack a 'secure' TPM chip
https://www.garlic.com/~lynn/2010d.html#7 "Unhackable" Infineon Chip Physically Cracked - PCWorld
https://www.garlic.com/~lynn/2010d.html#34 "Unhackable" Infineon Chip Physically Cracked
https://www.garlic.com/~lynn/2010d.html#38 search engine history, was Happy DEC-10 Day
https://www.garlic.com/~lynn/2010e.html#3 "Unhackable" Infineon Chip Physically Cracked - PCWorld
https://www.garlic.com/~lynn/2010f.html#12 Real CPU Id
https://www.garlic.com/~lynn/2010f.html#75 Is Security a Curse for the Cloud Computing Industry?
https://www.garlic.com/~lynn/2010o.html#50 The Credit Card Criminals Are Getting Crafty
https://www.garlic.com/~lynn/2010o.html#54 The Credit Card Criminals Are Getting Crafty
https://www.garlic.com/~lynn/2010p.html#0 CARD AUTHENTICATION TECHNOLOGY - Embedded keypad on Card - Is this the future
https://www.garlic.com/~lynn/2010p.html#72 Orientation - does group input (or groups of data) make better decisions than one person can?
https://www.garlic.com/~lynn/2010p.html#75 Orientation - does group input (or groups of data) make better decisions than one person can?
https://www.garlic.com/~lynn/2011b.html#11 Credit cards with a proximity wifi chip can be as safe as walking around with your credit card number on a poster
https://www.garlic.com/~lynn/2011c.html#59 RISCversus CISC
https://www.garlic.com/~lynn/2011c.html#78 RISCversus CISC
https://www.garlic.com/~lynn/2011p.html#48 Hello?
https://www.garlic.com/~lynn/2012g.html#53 The secret's out for secure chip design
https://www.garlic.com/~lynn/2012i.html#95 Can anybody give me a clear idea about Cloud Computing in MAINFRAME ?
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Thu, 29 Aug 2013 14:35:35 -0400Stephen Sprunk <stephen@sprunk.org> writes:
the baby boom bubble was four times as large as the previous generation and twice as large as the following generation (aka baby boom bubble was how they got the description boom & bubble). as long was the baby boom bubble were in their prime working years ... it was easy for the top executives to skim funds for pension funding ... and pay pension out of current working. the problem was that it inverted as the baby boomers moved into retirement years ... and top executives had already skimmed off all the money creating the enormous pension fund liability. they then declare bankuptcy and palm off the unfunded pension fund liability on the government (effectively having looted the pension fund through not funding it).
note that for the corporations that had fully funded pension funds ... in the middle 90s lobbied for pension reserves to be treated as corporate assets ... this allowed significant increase in total corporate book value ... and therefore the value/share ... which contributed to increasing price/share ... which then gave top executives big bonuses (and theoretically with pension reserves listed as corporate assets ... if the company would to declare bankruptcy ... the pension reserves would be available to pay off creditors).
somewhat related is past posts mentioning proposal for 100% unearned
profit tax on US auto industry (because they were pocketing profits that
were suppose to have been used for "make-over") and C4 "task force"
https://www.garlic.com/~lynn/submisc.html#auto.c4.taskforce
recent posts mentioning pension funds/reserves
https://www.garlic.com/~lynn/2013.html#57 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013d.html#54 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#80 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#82 What Makes Economic History Bizarre?
https://www.garlic.com/~lynn/2013e.html#41 It's a Banker's World
https://www.garlic.com/~lynn/2013e.html#90 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013i.html#78 Has the US Lost Its Grand Strategic Mind?
https://www.garlic.com/~lynn/2013k.html#3 copyright protection/Doug Englebart
https://www.garlic.com/~lynn/2013k.html#33 Management Secrets From Inside GE
https://www.garlic.com/~lynn/2013k.html#50 IBM Furloughs U.S. Hardware Employees to Reduce Costs
https://www.garlic.com/~lynn/2013k.html#51 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#60 spacewar
https://www.garlic.com/~lynn/2013k.html#61 John Boyd's Art of War
past posts mentioning baby boom/bubble 4 times larger than previous
generation and twice as large as following generation:
https://www.garlic.com/~lynn/2003k.html#61 The Incredible Shrinking Legacy Workforces
https://www.garlic.com/~lynn/2006f.html#41 The Pankian Metaphor
https://www.garlic.com/~lynn/2007g.html#7 U.S. Cedes Top Spot in Global IT Competitiveness
https://www.garlic.com/~lynn/2007p.html#7 what does xp do when system is copying
https://www.garlic.com/~lynn/2007v.html#72 whats the world going to do when all the baby boomers retire
https://www.garlic.com/~lynn/2008b.html#3 on-demand computing
https://www.garlic.com/~lynn/2008c.html#16 Toyota Sales for 2007 May Surpass GM
https://www.garlic.com/~lynn/2008c.html#69 Toyota Beats GM in Global Production
https://www.garlic.com/~lynn/2008f.html#99 The Workplace War for Age and Talent
https://www.garlic.com/~lynn/2008g.html#1 The Workplace War for Age and Talent
https://www.garlic.com/~lynn/2008g.html#50 CA ESD files Options
https://www.garlic.com/~lynn/2008h.html#3 America's Prophet of Fiscal Doom
https://www.garlic.com/~lynn/2008h.html#11 The Return of Ada
https://www.garlic.com/~lynn/2008h.html#26 The Return of Ada
https://www.garlic.com/~lynn/2008h.html#57 our Barb: WWII
https://www.garlic.com/~lynn/2008i.html#56 The Price Of Oil --- going beyong US$130 a barrel
https://www.garlic.com/~lynn/2008i.html#98 dollar coins
https://www.garlic.com/~lynn/2008j.html#80 dollar coins
https://www.garlic.com/~lynn/2008k.html#5 Republican accomplishments and Hoover
https://www.garlic.com/~lynn/2008l.html#37 dollar coins
https://www.garlic.com/~lynn/2008m.html#3 Medical care
https://www.garlic.com/~lynn/2008n.html#13 Michigan industry
https://www.garlic.com/~lynn/2008n.html#18 VMware Chief Says the OS Is History
https://www.garlic.com/~lynn/2008n.html#20 Michigan industry
https://www.garlic.com/~lynn/2008n.html#29 Blinkylights
https://www.garlic.com/~lynn/2008o.html#8 The end of the baby boomers, US bonds maturing, and then what?
https://www.garlic.com/~lynn/2008o.html#58 Everyone is getting same deal out of life: babyboomers can't retire but they get SS benefits intact
https://www.garlic.com/~lynn/2009m.html#61 August 7, 1944: today is the 65th Anniversary of the Birth of the Computer
https://www.garlic.com/~lynn/2009m.html#64 August 7, 1944: today is the 65th Anniversary of the Birth of the Computer
https://www.garlic.com/~lynn/2009m.html#72 August 7, 1944: today is the 65th Anniversary of the Birth of the Computer
https://www.garlic.com/~lynn/2009o.html#37 Young Developers Get Old Mainframers' Jobs
https://www.garlic.com/~lynn/2009o.html#72 I would like to understand the professional job market in US. Is it shrinking?
https://www.garlic.com/~lynn/2010.html#37 Happy DEC-10 Day
https://www.garlic.com/~lynn/2010.html#38 Happy DEC-10 Day
https://www.garlic.com/~lynn/2010b.html#19 STEM crisis
https://www.garlic.com/~lynn/2010b.html#24 Happy DEC-10 Day
https://www.garlic.com/~lynn/2010b.html#56 Happy DEC-10 Day
https://www.garlic.com/~lynn/2010b.html#59 Happy DEC-10 Day
https://www.garlic.com/~lynn/2010d.html#18 search engine history, was Happy DEC-10 Day
https://www.garlic.com/~lynn/2010d.html#46 search engine history, was Happy DEC-10 Day
https://www.garlic.com/~lynn/2010f.html#45 not even sort of about The 2010 Census
https://www.garlic.com/~lynn/2010i.html#72 Favourite computer history books?
https://www.garlic.com/~lynn/2010i.html#74 Favourite computer history books?
https://www.garlic.com/~lynn/2010i.html#75 Favourite computer history books?
https://www.garlic.com/~lynn/2010k.html#2 taking down the machine - z9 series
https://www.garlic.com/~lynn/2010k.html#6 taking down the machine - z9 series
https://www.garlic.com/~lynn/2010m.html#88 Baby Boomer Execs: Are you afraid of LinkedIn & Social Media?
https://www.garlic.com/~lynn/2010o.html#66 They always think we don't understand
https://www.garlic.com/~lynn/2010o.html#69 They always think we don't understand
https://www.garlic.com/~lynn/2010o.html#72 They always think we don't understand
https://www.garlic.com/~lynn/2010o.html#75 origin of 'fields'?
https://www.garlic.com/~lynn/2010p.html#44 Ratio of workers to retirees
https://www.garlic.com/~lynn/2010p.html#71 origin of 'fields'?
https://www.garlic.com/~lynn/2010q.html#69 No command, and control
https://www.garlic.com/~lynn/2011g.html#76 The Two Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
https://www.garlic.com/~lynn/2011h.html#24 US Housing Crisis Is Now Worse Than Great Depression
https://www.garlic.com/~lynn/2011k.html#88 Justifying application of Boyd to a project manager
https://www.garlic.com/~lynn/2011n.html#57 The Mortgage Crisis---Some Inside Views
https://www.garlic.com/~lynn/2011n.html#67 The debt fallout: How Social Security went "cash negative" earlier than expected
https://www.garlic.com/~lynn/2011o.html#79 Why are organizations sticking with mainframes?
https://www.garlic.com/~lynn/2012c.html#46 PC industry is heading for more change
https://www.garlic.com/~lynn/2012e.html#40 Who Increased the Debt?
https://www.garlic.com/~lynn/2012h.html#24 Baby Boomer Guys -- Do you look old? Part II
https://www.garlic.com/~lynn/2012i.html#78 Millennials have been plugged in pretty much since birth, which naturally means they'd be more adept at understanding the tech world than Gen X or even Baby Boomers, right?
https://www.garlic.com/~lynn/2012i.html#82 Millennials have been plugged in pretty much since birth, which naturally means they'd be more adept at understanding the tech world than Gen X or even Baby Boomers, right?
https://www.garlic.com/~lynn/2012k.html#7 Is there a connection between your strategic and tactical assertions?
https://www.garlic.com/~lynn/2012k.html#25 Two Articles of Interest on Culture and Things to Look For
https://www.garlic.com/~lynn/2012k.html#75 What's the bigger risk, retiring too soon, or too late?
https://www.garlic.com/~lynn/2012l.html#13 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2012o.html#73 These Two Charts Show How The Priorities Of US Companies Have Gotten Screwed Up
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: Steve B sees what investors think Newsgroups: alt.folklore.computers Date: Thu, 29 Aug 2013 14:54:23 -0400Patrick Scheible <kkt@zipcon.net> writes:
1996 at the m'soft developers conferencing at moscone ... all the banners said "Internet" ... but the subtext in all the sessions was "protect your investment" ... this met all the visual basic programming automatic execution in data files would continue to work with no changes.
basically the paradigm of safe, small, local-area, private business LANs was being retargeted to the internet w/o any additional defenses and/or countermeasures against attackers.
also at the same conference ... several of the m'soft employees made reference to study that 95% of the users already had 95% of the function they wanted. up until that time, users&businesses would automatically buy the newest releases ... because they always had additional desired function. Supposedly 1996 was the inflection point where m'soft had to convert to the US auto sales model convincing users to continue to buy the latest model because it was the latest model ... not necessarily because they needed it.
note the automatic execution vulneraiblity is slightly different from
the social engineering vulnerability paradigm ... where users are sent
executable files and are enticed to execute the program ... which would
contain some form of malware. an early form:
http://malware.wikia.com/wiki/Christmas_Tree
and
https://en.wikipedia.org/wiki/Timeline_of_computer_viruses_and_worms
prior to the big move by m'soft to the internet in the mid-90s, the major of all internet vulnerabilities came from C programming language treatment of string lengths. by 2000, it had change to approx. 1/3rd C-language related length handling, 1/3rd automatic execution, 1/3rd social engineering.
past posts mentioning MDC at mascone:
https://www.garlic.com/~lynn/2001l.html#49 Virus propagation risks
https://www.garlic.com/~lynn/2003e.html#45 Computer programming was all about:
https://www.garlic.com/~lynn/2003h.html#22 Why did TCP become popular ?
https://www.garlic.com/~lynn/2004b.html#34 Next generation processor architecture?
https://www.garlic.com/~lynn/2004l.html#51 Specifying all biz rules in relational data
https://www.garlic.com/~lynn/2006v.html#50 DOS C prompt in "Vista"?
https://www.garlic.com/~lynn/2007s.html#18 Oddly good news week: Google announces a Caps library for Javascript
https://www.garlic.com/~lynn/2007u.html#87 CompUSA to Close after Jan. 1st 2008
https://www.garlic.com/~lynn/2008r.html#26 realtors (and GM, too!)
https://www.garlic.com/~lynn/2009q.html#43 The 50th Anniversary of the Legendary IBM 1401
https://www.garlic.com/~lynn/2010c.html#63 who pioneered the WEB
https://www.garlic.com/~lynn/2010g.html#66 What is the protocal for GMT offset in SMTP (e-mail) header
https://www.garlic.com/~lynn/2010h.html#37 (slightly OT - Linux) Did IBM bet on the wrong OS?
https://www.garlic.com/~lynn/2010j.html#36 Favourite computer history books?
https://www.garlic.com/~lynn/2010p.html#9 The IETF is probably the single element in the global equation of technology competition than has resulted in the INTERNET
https://www.garlic.com/~lynn/2010p.html#40 The Great Cyberheist
https://www.garlic.com/~lynn/2011c.html#50 IBM and the Computer Revolution
https://www.garlic.com/~lynn/2011d.html#58 IBM and the Computer Revolution
https://www.garlic.com/~lynn/2011f.html#15 Identifying Latest zOS Fixes
https://www.garlic.com/~lynn/2011f.html#57 Are Tablets a Passing Fad?
https://www.garlic.com/~lynn/2011o.html#18 John R. Opel, RIP
https://www.garlic.com/~lynn/2011o.html#59 The lost art of real programming
https://www.garlic.com/~lynn/2011p.html#141 With cloud computing back to old problems as DDos attacks
https://www.garlic.com/~lynn/2012.html#81 The PC industry is heading for collapse
https://www.garlic.com/~lynn/2012.html#93 Where are all the old tech workers?
https://www.garlic.com/~lynn/2012i.html#18 Zeus/SpyEye 'Automatic Transfer' Module Masks Online Banking Theft
https://www.garlic.com/~lynn/2012i.html#32 Zeus/SpyEye 'Automatic ransfer' Module Masks Online Banking Theft
https://www.garlic.com/~lynn/2012i.html#37 Simulated PDP-11 Blinkenlight front panel for SimH
https://www.garlic.com/~lynn/2012j.html#93 Gordon Crovitz: Who Really Invented the Internet?
https://www.garlic.com/~lynn/2012j.html#97 Gordon Crovitz: Who Really Invented the Internet?
https://www.garlic.com/~lynn/2013.html#45 New HD
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Thu, 29 Aug 2013 18:14:07 -0400"Johnny Chance" <Johnny_Chance_7654@nospam.com> writes:
has World Bank &/or IMF convincing resource rich country to take out enormous loans for economic development ... grossly inflated, gold-plated contracts are then let to US engineering & construction companies. The numbers have been fudged that the projects will generate enough activity to pay off the loans ... which never happens. The country defaults on the loans ... and various natural resources are taken in lieu of payment. All of this significantly aided by bribes to various responsible gov. officials.
"Economic Hit Man" as well as "The Next Convergence: The Future of
Economic Growth in a Multispeed World"
https://www.amazon.com/Next-Convergence-Economic-Multispeed-ebook/dp/B004EPYWCO/
and "Why Nations Fail: The Origins of Power, Prosperity, and Poverty"
https://www.amazon.com/Why-Nations-Fail-Prosperity-ebook/dp/B0058Z4NR8/
highlight that (at least up to the time of those publications) Botswana was one of the few exceptions to the scenario described in "Economic Hit Man".
a few past posts mentioning Botswana one of the few exceptions to
the "Economic Hit Man" scenario
https://www.garlic.com/~lynn/2011l.html#44 Kabuki Theater 1603-1629
https://www.garlic.com/~lynn/2012f.html#70 The Army and Special Forces: The Fantasy Continues
and
https://www.garlic.com/~lynn/2012j.html#81 GBP13tn: hoard hidden from taxman by global elite
from above:
GBP13tn: hoard hidden from taxman by global elite * Study estimates
staggering size of offshore economy * Private banks help wealthiest to
move cash into havens
http://www.guardian.co.uk/business/2012/jul/21/global-elite-tax-offshore-economy
post to linkedin automatically translated GBP13tn to $21tn
Wealth doesn't trickle down -- it just floods offshore, new research
reveals; A far-reaching new study suggests a staggering $21tn in assets
has been lost to global tax havens. If taxed, that could have been
enough to put parts of Africa back on its feet -- and even solve the
euro crisis
http://www.guardian.co.uk/business/2012/jul/21/offshore-wealth-global-economy-tax-havens
Tax havens: Super-rich 'hiding' at least $21tn
http://www.bbc.co.uk/news/business-18944097
Tax Justice Network: Wealth Held in Tax Havens Skyrockets
http://blogs.wsj.com/washwire/2012/07/22/tax-justice-network-wealth-held-in-tax-havens-skyrockets/
Wealthy hiding $21 trillion in tax havens, report says
http://www.cbc.ca/news/world/story/2012/07/22/tax-havens.html
$US21 trillion 'hidden in tax havens'
http://www.abc.net.au/news/2012-07-23/31-trillion-dollars-hidden-in-tax-haven/4147114
... snip ...
other posts on the subject:
https://www.garlic.com/~lynn/2011l.html#35 The Next Convergence: The Future of Economic Growth in a Multispeed World
https://www.garlic.com/~lynn/2011l.html#36 The Next Convergence: The Future of Economic Growth in a Multispeed World
https://www.garlic.com/~lynn/2011l.html#40 The Next Convergence: The Future of Economic Growth in a Multispeed World
https://www.garlic.com/~lynn/2011m.html#18 computer bootlaces
https://www.garlic.com/~lynn/2011m.html#68 Bernanke Hearings
https://www.garlic.com/~lynn/2011n.html#57 The Mortgage Crisis---Some Inside Views
https://www.garlic.com/~lynn/2011n.html#65 Soups
https://www.garlic.com/~lynn/2011o.html#42 Speed: Re: Soups
https://www.garlic.com/~lynn/2011p.html#63 21st Century Management approach?
https://www.garlic.com/~lynn/2011p.html#71 A question for the readership
https://www.garlic.com/~lynn/2011p.html#73 A question for the readership
https://www.garlic.com/~lynn/2011p.html#80 The men who crashed the world
https://www.garlic.com/~lynn/2011p.html#111 Matt Taibbi with Xmas Message from the Rich
https://www.garlic.com/~lynn/2011p.html#129 Perspectives: Looped back in
https://www.garlic.com/~lynn/2011p.html#136 Gingrich urged yes vote on controversial Medicare bill
https://www.garlic.com/~lynn/2012.html#22 Who originated the phrase "user-friendly"?
https://www.garlic.com/~lynn/2012.html#25 You may ask yourself, well, how did I get here?
https://www.garlic.com/~lynn/2012c.html#62 Why Is Finance So Big?
https://www.garlic.com/~lynn/2012d.html#57 Study Confirms The Government Produces The Buggiest Software
https://www.garlic.com/~lynn/2012e.html#31 PC industry is heading for more change
https://www.garlic.com/~lynn/2012e.html#34 The never-ending SCO lawsuit
https://www.garlic.com/~lynn/2012e.html#35 The Dallas Fed Is Calling For The Immediate Breakup Of Large Banks
https://www.garlic.com/~lynn/2012e.html#36 The never-ending SCO lawsuit
https://www.garlic.com/~lynn/2012e.html#57 speculation
https://www.garlic.com/~lynn/2012e.html#58 Word Length
https://www.garlic.com/~lynn/2012e.html#60 Candid Communications & Tweaking Curiosity, Tools to Consider
https://www.garlic.com/~lynn/2012e.html#70 Disruptive Thinkers: Defining the Problem
https://www.garlic.com/~lynn/2012f.html#2 Did they apply Boyd's concepts?
https://www.garlic.com/~lynn/2012f.html#32 Back to the future: convict labor returns to America
https://www.garlic.com/~lynn/2012f.html#80 The Failure of Central Planning
https://www.garlic.com/~lynn/2012f.html#84 How do you feel about the fact that India has more employees than US?
https://www.garlic.com/~lynn/2012g.html#61 Why Hasn't The Government Prosecuted Anyone For The 2008 Financial recession?
https://www.garlic.com/~lynn/2012g.html#70 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012g.html#75 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#5 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#10 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#15 Imbecilic Constitution
https://www.garlic.com/~lynn/2012h.html#18 How do you feel about the fact that India has more employees than US?
https://www.garlic.com/~lynn/2012i.html#85 Naked emperors, holy cows and Libor
https://www.garlic.com/~lynn/2012k.html#7 Is there a connection between your strategic and tactical assertions?
https://www.garlic.com/~lynn/2012k.html#42 The IBM "Open Door" policy
https://www.garlic.com/~lynn/2012k.html#45 If all of the American earned dollars hidden in off shore accounts were uncovered and taxed do you think we would be able to close the deficit gap?
https://www.garlic.com/~lynn/2012l.html#17 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2012m.html#29 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2012m.html#33 General Mills computer
https://www.garlic.com/~lynn/2012m.html#34 General Mills computer
https://www.garlic.com/~lynn/2012m.html#39 General Mills computer
https://www.garlic.com/~lynn/2012n.html#3 General Mills computer
https://www.garlic.com/~lynn/2012n.html#60 The IBM mainframe has been the backbone of most of the world's largest IT organizations for more than 48 years
https://www.garlic.com/~lynn/2012n.html#83 Protected: R.I.P. Containment
https://www.garlic.com/~lynn/2012o.html#2 OT: Tax breaks to Oracle debated
https://www.garlic.com/~lynn/2012o.html#71 Is orientation always because what has been observed? What are your 'direct' experiences?
https://www.garlic.com/~lynn/2012p.html#44 Search Google, 1960:s-style
https://www.garlic.com/~lynn/2013d.html#93 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#95 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#98 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#7 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013e.html#25 What Makes bank regulation and insurance Bizarre?
https://www.garlic.com/~lynn/2013e.html#51 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013i.html#78 Has the US Lost Its Grand Strategic Mind?
https://www.garlic.com/~lynn/2013i.html#80 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013i.html#94 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013k.html#39 copyright protection/Doug Englebart
https://www.garlic.com/~lynn/2013k.html#40 copyright protection/Doug Englebart
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Fri, 30 Aug 2013 10:24:01 -0400scott@slp53.sl.home (Scott Lurndal) writes:
roll-forward to dec81 ACM SIGOPS and Jim Gray asks if I can help a co-worker at Tandem get his Stanford PHD (Hennessy was the person's adviser) ... he was doing work on "clock" ... which involved global LRU ... and awarding the PHD was strongly opposed by the "local LRU" forces.
Besides my undergraduate work on global LRU in the 60s ... I also had comparison data with the Cambridge Science Center cp67 and the Grenoble Science Center cp67 systems from the early 70s. Grenoble had modified cp67 to conform with the ACM working set paper ... while cambridge science center was running my stuff.
Grenoble had a 1mbyte real storage cp67 ... that had 155 pageable pages (after fixed kernel storage requirements) running approx. 35 users. Cambridge had 768kbyte real storate cp67 ... that had 104 pageable pages (after fixed kernel storage requirements) running. 75-80 users with similar workload as grenoble and at least as good ... if not better interactive response and workload throughput. It was one of the few apples-to-apples direct comparisons of local versus global LRU ... showing global significantly outperformed local (twice the number of users on otherwise identical hardware and software but with only 2/3rds the available pageable pages).
unfortunately it took IBM research management nearly a year to get around to approving letting me send response (even tho it involved work while I was undergraduate before being IBM employee) ... I've commented before that hopefully it was because they figured they were punishing me because I was being blamed for online computer conferencing (and not because they were taking sides in the local/global LRU academic dispute).
past post with part of response sent nearly year after Jim asked me
to help:
https://www.garlic.com/~lynn/2006w.html#email821019
in this post
https://www.garlic.com/~lynn/2006w.html#46 The Future of CPUs: What's After Multi-Core?
other posts mentioning above:
https://www.garlic.com/~lynn/2011f.html#73 Wylbur, Orvyl, Milton, CRBE/CRJE were all used (and sometimes liked) in the past
https://www.garlic.com/~lynn/2012c.html#17 5 Byte Device Addresses?
https://www.garlic.com/~lynn/2013d.html#7 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#42 True LRU With 8-Way Associativity Is Implementable
past posts mentioning clock, local lru, page replacement, etc
https://www.garlic.com/~lynn/subtopic.html#wsclock
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Fri, 30 Aug 2013 20:22:50 -0400Anne & Lynn Wheeler <lynn@garlic.com> writes:
Swiss banks to divulge names of wealthy US tax avoiders, pay billions in
fines
http://rt.com/business/swiss-banks-disclose-assets-196/
from above:
About a hundred Swiss banks will avoid prosecution by divulging the
names of US clients who have allegedly avoided tax by using secret
accounts. The banks could face fines of up to 50 percent of the asset
value if they provide full disclosure.
The settlement will apply to second-tier Swiss banks and will be open to
banks not already under a US criminal investigation. This rules out the
second-largest Swiss bank, Credit Suisse; the largest European bank HSBC
Holdings Plc and Julius Baer Group Ltd, as well as several regional
banks.
... snip ...
even with all the increase in legalized tax evasion ... there still continues to be significant illegal tax evasion.
past posts mentioning tax evasion
https://www.garlic.com/~lynn/submisc.html#tax.evasion
somewhat related
Breakdown of the $26 Trillion the Federal Reserve Handed Out to Save
Incompetent, but Rich Investors
http://johnhively.wordpress.com/2011/12/05/breakdown-of-the-26-trillion-the-federal-reserve-handed-ou
The Redistribution of Wealth is a Function of Income Redistribution
http://johnhively.wordpress.com/2013/08/29/the-redistribution-of-wealth-is-a-function-of-income-redistribution/
and too big to fail ... would they ever actually but somebody in jail
or really hold somebody accountable
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
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virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: Versailles on the Potomac at it again Date: 30 Aug 2013 Blog: FacebookVersailles on the Potomac at it again
Eric quoting Chuck
http://www.counterpunch.org/2013/08/27/syria-in-the-crosshair/
and
http://chuckspinney.blogspot.com/2013/08/the-kosovo-precedent.html
then there is Chuck's The Domestic Roots of Perpetual War
http://chuckspinney.blogspot.com/p/domestic-roots-of-perpetual-war.html
some more recent Chuck's articles at time
http://nation.time.com/author/chuckspinney2/
How an Insular Beltway Elite Makes Wars of Choice More Likely
http://www.theatlantic.com/politics/archive/2013/08/how-an-insular-beltway-elite-makes-wars-of-choice-more-likely/279116/
somewhat along the lines of the beltway elite:
This Failure Rate Will Shock You
http://www.zerohedge.com/node/478219
Kosovo analysis: The Big Lie: From Serbia to Syria Kosovo: Where NATO
Bombing Only Made the Killing Worse
http://www.counterpunch.org/2013/08/30/kosovo-where-nato-bombing-only-made-the-killing-worse/
In silicon valley in the 90s, we observed another phenomena ... lots of former intelligence workers looking for security jobs in e-commerce. Story was that administration, in order to keep balanced budget and not raise taxes ... the cost of Bosnia/Kosovo had to be offset by intelligence reducing costs elsewhere (including turfing a lot of humint and analysts)
contrast that to last decade ... in 2010 CBO did report that mostly after the fiscal responsibility act was allowed to expire in 2002 (required tax revenues match spending) tax revenues were decreased by $6T and spending increased by $6T (compared to baseline which had all federal debt retired by 2010) for a $12T budget gap. Winslow (no relation) in 2010 had a little over $2T of the $6T increase in spending going to DOD, a little over $1T for the two wars and the other $1+T couldn't be explained.
some past posts that mention "Why Nations Fail: The Origins of Power,
Prosperity, and Poverty"
https://www.amazon.com/Why-Nations-Fail-Prosperity-ebook/dp/B0058Z4NR8/
https://www.garlic.com/~lynn/2012e.html#31 PC industry is heading for more change
https://www.garlic.com/~lynn/2012e.html#34 The never-ending SCO lawsuit
https://www.garlic.com/~lynn/2012e.html#35 The Dallas Fed Is Calling For The Immediate Breakup Of Large Banks
https://www.garlic.com/~lynn/2012e.html#36 The never-ending SCO lawsuit
https://www.garlic.com/~lynn/2012e.html#57 speculation
https://www.garlic.com/~lynn/2012e.html#60 Candid Communications & Tweaking Curiosity, Tools to Consider
https://www.garlic.com/~lynn/2012e.html#70 Disruptive Thinkers: Defining the Problem
https://www.garlic.com/~lynn/2012f.html#2 Did they apply Boyd's concepts?
https://www.garlic.com/~lynn/2012f.html#32 Back to the future: convict labor returns to America
https://www.garlic.com/~lynn/2012f.html#70 The Army and Special Forces: The Fantasy Continues
https://www.garlic.com/~lynn/2012f.html#80 The Failure of Central Planning
https://www.garlic.com/~lynn/2012f.html#84 How do you feel about the fact that India has more employees than US?
https://www.garlic.com/~lynn/2012h.html#10 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#15 Imbecilic Constitution
https://www.garlic.com/~lynn/2012i.html#85 Naked emperors, holy cows and Libor
https://www.garlic.com/~lynn/2012j.html#81 GBP13tn: hoard hidden from taxman by global elite
https://www.garlic.com/~lynn/2012k.html#7 Is there a connection between your strategic and tactical assertions?
https://www.garlic.com/~lynn/2012k.html#42 The IBM "Open Door" policy
https://www.garlic.com/~lynn/2012k.html#45 If all of the American earned dollars hidden in off shore accounts were uncovered and taxed do you think we would be able to close the deficit gap?
https://www.garlic.com/~lynn/2012l.html#17 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2012m.html#29 Cultural attitudes towards failure
https://www.garlic.com/~lynn/2012m.html#34 General Mills computer
https://www.garlic.com/~lynn/2012m.html#39 General Mills computer
https://www.garlic.com/~lynn/2012n.html#83 Protected: R.I.P. Containment
https://www.garlic.com/~lynn/2012o.html#71 Is orientation always because what has been observed? What are your 'direct' experiences?
https://www.garlic.com/~lynn/2012p.html#44 Search Google, 1960:s-style
https://www.garlic.com/~lynn/2013k.html#39 copyright protection/Doug Englebart
https://www.garlic.com/~lynn/2013k.html#40 copyright protection/Doug Englebart
https://www.garlic.com/~lynn/2013k.html#69 What Makes a Tax System Bizarre?
some past posts mentioning $12T budget gap:
https://www.garlic.com/~lynn/2012d.html#42 China's J-20 Stealth Fighter Is Already Doing A Whole Lot More Than Anyone Expected
https://www.garlic.com/~lynn/2012d.html#60 Memory versus processor speed
https://www.garlic.com/~lynn/2012e.html#25 We are on the brink of historic decision [referring to defence cuts]
https://www.garlic.com/~lynn/2012e.html#40 Who Increased the Debt?
https://www.garlic.com/~lynn/2012e.html#58 Word Length
https://www.garlic.com/~lynn/2012f.html#68 'Gutting' Our Military
https://www.garlic.com/~lynn/2012f.html#81 The Pentagon's New Defense Clandestine Service
https://www.garlic.com/~lynn/2012f.html#88 Defense acquisitions are broken and no one cares
https://www.garlic.com/~lynn/2012g.html#6 Adult Supervision
https://www.garlic.com/~lynn/2012g.html#45 Fareed Zakaria
https://www.garlic.com/~lynn/2012h.html#5 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#6 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#25 US economic update. Everything that follows is a result of what you see here
https://www.garlic.com/~lynn/2012h.html#26 US economic update. Everything that follows is a result of what you see here
https://www.garlic.com/~lynn/2012h.html#30 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#33 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#50 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#61 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#68 Interesting News Article
https://www.garlic.com/~lynn/2012i.html#0 Interesting News Article
https://www.garlic.com/~lynn/2012i.html#41 Lawmakers reworked financial portfolios after talks with Fed, Treasury officials
https://www.garlic.com/~lynn/2012i.html#81 Should the IBM approach be given a chance to fix the health care system?
https://www.garlic.com/~lynn/2012k.html#37 If all of the American earned dollars hidden in off shore accounts were uncovered and taxed do you think we would be able to close the deficit gap?
https://www.garlic.com/~lynn/2012k.html#74 Unthinkable, Predictable Disasters
https://www.garlic.com/~lynn/2012k.html#79 Romney and Ryan's Phony Deficit-Reduction Plan
https://www.garlic.com/~lynn/2012l.html#55 CALCULATORS
https://www.garlic.com/~lynn/2012l.html#85 Singer Cartons of Punch Cards
https://www.garlic.com/~lynn/2012m.html#33 General Mills computer
https://www.garlic.com/~lynn/2012o.html#1 OT: Tax breaks to Oracle debated
https://www.garlic.com/~lynn/2012o.html#16 OT: Tax breaks to Oracle debated
https://www.garlic.com/~lynn/2012p.html#30 Search Google, 1960:s-style
https://www.garlic.com/~lynn/2012p.html#41 Search Google, 1960:s-style
https://www.garlic.com/~lynn/2013d.html#94 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#67 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#70 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#72 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#5 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#16 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013f.html#30 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013j.html#27 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#29 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#41 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#59 John Boyd's Art of War
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: comp.arch, alt.folklore.computers Date: Fri, 30 Aug 2013 23:32:10 -0400Dan Espen <despen@verizon.net> writes:
2009 estimate was 52,000 wealthy americans and $400B in upaid taxes (this is apparently just personal tax evasion, doesn't include corporate tax evasion) ... since then possibly one person has done jail time ... all the rest is just fines. note that in the period since 2009, congress has made an attempt or two to eliminate enforcement funds for prosecuting wealthy american tax evasion (possibly same lobbying groups that have been so successful in getting numerous forms of tax evasion made legal).
considering the news items and articles that US has the highest incarceration rates in the world .. the lack of wealthy doing jail time for their criminal activity seems inconsistent ... easily more than trillion in fines and back taxes would have enough to build another prison or two for the offenders.
List of countries by incarceration rate
https://en.wikipedia.org/wiki/List_of_countries_by_incarceration_rate
U.S. prison population dwarfs that of other nations
http://www.nytimes.com/2008/04/23/world/americas/23iht-23prison.12253738.html?pagewanted=all
U.S. Has World's Highest Incarceration Rate
http://www.prb.org/Publications/Articles/2012/us-incarceration.aspx
past posts mentioning tax evasion
https://www.garlic.com/~lynn/submisc.html#tax.evasion
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virtualization experience starting Jan1968, online at home since Mar1970
From: lynn@garlic.com Subject: RBC's other problem: Freddie Mac names embattled bank in LIBOR suit Date: 31 Aug 2013 Blog: Financial Crime Risk, Fraud and SecurityRBC's other problem: Freddie Mac names embattled bank in LIBOR suit
from above:
If there is a silver lining in the March 14 Eastern District of
Virginia filing, it's that RBC is being sued for fraud only, while
several other institutions, including Bank of America, Deutsche Bank
and Barclays, are being sued for fraud and breach of contract.
... snip ...
posts mentioning LIBOR
https://www.garlic.com/~lynn/submisc.html#libor
--
virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sat, 31 Aug 2013 09:51:34 -0400Don quotes OODA-loop & Boyd periodically. One of the periodic points has been that the numerous strategies over the years to remake the army have gone astray with its ingrained 2nd generation/linear culture. He just returned last week from Afghanistan tour
The Path to Victory
https://www.amazon.com/The-Path-to-Victory-ebook/dp/B00EHV3ADW/
loc3610-14:
For the first 4 years after "9/11," the Army remained focused on
linear warfare, and only slowly changed from the bottom up after the
shock of occupation following the fall of Baghdad. However, after a
year of occupation in Iraq, the Army faced a new enemy, one that
already had been evolving, and one that practiced Fourth Generation
Warfare (4GW). Fortunately, there has been growing consensus that the
new operational environment requires a new military culture; that this
is going to be a "long war," in which traditional linear and
attritionist approaches do not always work and the non-military lines
of operation are centerpiece.
loc4123-29
Contrast the two methods of dealing with organizational
problems—Industrial Age and Professional—and discover that the first
method is not concerned with growing the problem solving ability of
the soldier. It also focuses the efforts of leadership on solving an
increasing number of problems for the soldier. The byproduct of this
method is a growing sense of frustration in the leadership, over the
growing sense of a lack of initiative and responsibility in
soldiers. The second method is concerned with growing the problem
solving ability of the individual and sees problems as
opportunities. It focuses efforts of leadership on providing the
environment and resources for the individual to succeed. The first
method defines what the soldier must do for success while the second
method empowers the soldier to discover what he can do.
... snip ...
posts & URL referencing Boyd
https://www.garlic.com/~lynn/subboyd.html
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virtualization experience starting Jan1968, online at home since Mar1970
From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sat, 31 Aug 2013 10:07:40 -0400re:
the early justifications for Iraq invasion included it would only cost $50B (claims that planning even started before 9/11). Part of the reasoning for the $50B price-tag was that boyd, OODA-loop and maneuver warfare with small, fast, groups could out-maneuver the opposition.
some recent articles claim that the early iraq invasion failure
descredits boyd and OODA-loop ... however, 1) boyd & OODA-loop scenarios
also calls for highly skilled professionals ... which wasn't part of the
army culture and 2) it was all a facade by Team B
https://www.garlic.com/~lynn/submisc.html#team.b
for perpetual war
https://www.garlic.com/~lynn/submisc.html#perpetual.war
and ever increasing quarterly profits for MICC.
https://www.garlic.com/~lynn/submisc.html#military.industrial.complex
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: German infosec agency warns against Trusted Computing in Windows 8 Newsgroups: alt.folklore.computers Date: Sat, 31 Aug 2013 14:44:14 -0400re:
ever since learning about 3kinds of crypto ... I've periodically wondered about the trade-offs between penetration/compromise and information assurance
Sysadmin security fail: NSA finds Snowden hijacked officials' logins
http://arstechnica.com/information-technology/2013/08/sysadmin-security-fail-nsa-finds-snowden-hijacked-officials-logins/
Edward Snowden Impersonated NSA Officials To Obtain Some Documents
http://www.rttnews.com/2180737/edward-snowden-impersonated-nsa-officials-to-obtain-some-documents.aspx?type=gn&utm_source=google&utm_campaign=sitemap
Snowden Digitally Impersonated NSA Officials
http://www.businessinsider.com/snowden-digitally-impersonated-nsa-officials-2013-8
Snowden Accused of Impersonating NSA Officials
http://nymag.com/daily/intelligencer/2013/08/snowden-accused-of-impersonating-nsa-officials.html
Edward Snowden Impersonated NSA Officials: Report
http://www.huffingtonpost.com/2013/08/29/edward-snowden-impersonated-nsa_n_3837459.html?utm_hp_ref=politics
Why it was easy for Edward Snowden to impersonate top NSA officials
http://theweek.com/article/index/248976/why-it-was-easy-for-edward-snowden-to-impersonate-top-nsa-officials
past posts mentioning assurance
https://www.garlic.com/~lynn/subintegrity.html#assurance
recent posts mentioning believing 20yr old information
assurance/security state-of-the-art should have made Snowden-type event
unlikely
https://www.garlic.com/~lynn/2013i.html#41 Is newer technology always better? It almost is. Exceptions?
https://www.garlic.com/~lynn/2013i.html#65 The Real Snowden Question
https://www.garlic.com/~lynn/2013i.html#76 The failure of cyber defence - the mindset is against it
https://www.garlic.com/~lynn/2013j.html#43 8080 BASIC
https://www.garlic.com/~lynn/2013k.html#37 Do You Want Better Security? Eliminate System Administrators!
past posts mentioning becomeing aware that there was 3 kinds of
crypto
https://www.garlic.com/~lynn/2008h.html#87 New test attempt
https://www.garlic.com/~lynn/2008i.html#86 Own a piece of the crypto wars
https://www.garlic.com/~lynn/2009p.html#32 Getting Out Hard Drive in Real Old Computer
https://www.garlic.com/~lynn/2010i.html#27 Favourite computer history books?
https://www.garlic.com/~lynn/2010o.html#43 Internet Evolution - Part I: Encryption basics
https://www.garlic.com/~lynn/2010p.html#19 The IETF is probably the single element in the global equation of technology competition than has resulted in the INTERNET
https://www.garlic.com/~lynn/2011g.html#20 TELSTAR satellite experiment
https://www.garlic.com/~lynn/2011g.html#60 Is the magic and romance killed by Windows (and Linux)?
https://www.garlic.com/~lynn/2011g.html#69 Is the magic and romance killed by Windows (and Linux)?
https://www.garlic.com/~lynn/2011h.html#0 We list every company in the world that has a mainframe computer
https://www.garlic.com/~lynn/2011n.html#63 ARPANET's coming out party: when the Internet first took center stage
https://www.garlic.com/~lynn/2011n.html#85 Key Escrow from a Safe Distance: Looking back at the Clipper Chip
https://www.garlic.com/~lynn/2012.html#63 Reject gmail
https://www.garlic.com/~lynn/2012i.html#70 Operating System, what is it?
https://www.garlic.com/~lynn/2012k.html#47 T-carrier
https://www.garlic.com/~lynn/2013d.html#1 IBM Mainframe (1980's) on You tube
https://www.garlic.com/~lynn/2013g.html#31 The Vindication of Barb
https://www.garlic.com/~lynn/2013i.html#69 The failure of cyber defence - the mindset is against it
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From: lynn@garlic.com Subject: Libor Rate-Probe Spotlight Shines on Higher-Ups Date: 31 Aug 2013 Blog: Financial Crime Risk, Fraud and SecurityLibor Rate-Probe Spotlight Shines on Higher-Ups
Libor litigation lives! Schwab refiles fraud claims in state court
http://blogs.reuters.com/alison-frankel/2013/04/30/libor-litigation-lives-schwab-refiles-fraud-claims-in-state-court/
from above:
The supposed conspiracy to depress Libor, according to the complaint,
"was, by its very nature, self-concealing." Reasonable investors could
not know that the rate was being suppressed, Schwab said, when
officials from Credit Suisse, JPMorgan Chase, Bank of America and
Citigroup were assuring the public that Libor was legitimate.
... snip ...
Libor probe keys on execs at Citi, other banks Regulators weigh
whether higher-ups played roles in rate manipulation
http://www.marketwatch.com/story/libor-probe-keys-on-execs-at-citi-other-banks-2013-08-29
Bad Banks
http://www.huffingtonpost.com/camille-rivera/bad-banks_b_3844984.html
Regulators Examine Top Execs At Citigroup, Other Banks In Libor Probe
http://www.valuewalk.com/2013/08/top-execs-at-citigroup-in-libor-probe/
posts mentioning libor
https://www.garlic.com/~lynn/submisc.html#libor
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: Steve B sees what investors think Newsgroups: alt.folklore.computers Date: Sat, 31 Aug 2013 17:32:39 -0400"Charlie" <Charlie1943@nospam.com> writes:
First Battle: Operation Starlite and the Beginning of the Blood Debt in
Vietnam
https://www.amazon.com/First-Battle-Operation-Beginning-ebook/dp/B00BBPWBHI/
pg173/loc2984-87:
They used "grab-them-by-the-belt" tactics—that is, when engaged they
moved in as close as they could to their enemy in order to negate the
effects of supporting arms, which would endanger American troops when
employed too close to American lines. And they quickly learned ways
around our highly vaunted technical advances, one at a time.
... snip ...
Road of 10,000 Pains: The Destruction of the 2nd NVA Division by the
U.S. Marines, 1967
https://www.amazon.com/Road-000-Pains-Destruction-ebook/dp/B004NNUYG0/
pg32/loc597-600:
Both tactics gave the Marines an initial disadvantage, which they paid
for in blood. Once battle was joined, the Marines depended heavily on
supporting arms, the only American weapons the enemy truly feared, to
give them the upper hand while the NVA tenaciously held on until they
could disappear in the dark. The enemy developed a "grab them by the
belt" tactic, which dictated that they get as close to the Marines as
possible, making it almost as hazardous for the Marines as for the NVA
when the former called up their artillery and air support.
... snip ...
Gray
https://en.wikipedia.org/wiki/Alfred_M._Gray,_Jr.
when he was commandant ... goes on to leverage Boyd for make-over of
marine corp. misc. past posts &/or URLs mentioning Boyd
https://www.garlic.com/~lynn/subboyd.html
recent post mentioning US army still stuck in 2GW
https://www.garlic.com/~lynn/2013k.html#75 spacewar
https://www.garlic.com/~lynn/2013k.html#76 spacewar
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sat, 31 Aug 2013 19:31:09 -0400Peter Flass <Peter_Flass@Yahoo.com> writes:
however the $50B estimate was way off ... some estimates that it eventually becomes $5T with long-term veterans and medical benetifts ... an 100-fold increase ... and the WMD justification was total fabrication.
there are recent articles that the bogus WMD justification for the iraq
invation has resulted in skepticsm and questioning US
credibility. recent post with some of the references
https://www.garlic.com/~lynn/2013k.html#72 Versailles on the Potomac at it again
one of the unintended consequences of the bogus WMDs justification
... was that military was told to bypass bunkers of weapons &
ammunition ... looking for WMDs ... and then when they got around to
going back, the bunkers were empty ... million metric tons had
disappeared. some past refs:
https://www.garlic.com/~lynn/2013h.html#38 OT: "Highway Patrol" back on TV
https://www.garlic.com/~lynn/2013h.html#41 Is newer technology always better? It almost is. Exceptions?
https://www.garlic.com/~lynn/2013h.html#64 OT: "Highway Patrol" back on TV
https://www.garlic.com/~lynn/2013k.html#48 John Boyd's Art of War
other recents posts mentioning bogus/fabricated WMDs and Iraq invasion
https://www.garlic.com/~lynn/2013c.html#86 A Matter of Mindset: Iraq, Sequestration and the U.S. Army
https://www.garlic.com/~lynn/2013e.html#5 Lessons Learned from the Iraq War
https://www.garlic.com/~lynn/2013j.html#30 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#59 John Boyd's Art of War
some of the large artillery shells that went missing (part of the
million metic tons) ... then start showing up in massive IEDs
... capable of even taking out M1s ... also discussed
https://www.garlic.com/~lynn/2013k.html#48 John Boyd's Art of War
referencing this recent article
John Boyd's Art of War; Why our greatest military theorist only made
colonel
http://www.theamericanconservative.com/articles/john-boyds-art-of-war/
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sat, 31 Aug 2013 20:19:31 -0400Anne & Lynn Wheeler <lynn@garlic.com> writes:
some more on the credibility of US
Wheels Falling Off the Imperial Reality-Creating Machine
http://www.nakedcapitalism.com/2013/08/wheels-falling-off-the-imperial-reality-creating-machine.html
references include
Faith, Certainty and the Presidency of George W. Bush
http://www.nytimes.com/2004/10/17/magazine/17BUSH.html?_r=0
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sun, 01 Sep 2013 10:35:32 -0400Shmuel (Seymour J.) Metz <spamtrap@library.lspace.org.invalid> writes:
some of the CTSS people went to Project MAC and multics on the 5th flr,
others went to science center on the 4th flr and did cp40/cms
https://en.wikipedia.org/wiki/CP-40
Comeau's cp40 paper
https://www.garlic.com/~lynn/cp40seas1982.txt
which morphs into cp67/cms
https://en.wikipedia.org/wiki/CP/CMS
... however, the other thing part of the API ... besides 8byte tokenization was EXECs, executables (MODULES), and kernel calls used the same API. command entry went through ordered resolution sequence ordered search of filesystems for name as EXEC, then ordered search for MODULE, then look for kernel call SVC (with that name). In the past, I've demo'ed doing kernel routine call ... normally only done in assembler with SVC 202 instruction, from EXEC (i.e. all kernel calls were SVC 202 with R1 pointing to PLIST that had same "tokenization" as done for command line ... including first token name of routine invoked).
In any case, the API convention allowed application evolution and adaptation to proceed at greatly expanded pace.
while much of the CP67 code was new in the morph to VM370 ... even if function initially somewhat regressed. Much of the CMS code moved unchanged (except for "CMS" changing from cambridge monitor system to conversational monitor system). CMS morph to VM370 did introduce SVC 203 convention that had index to desired kernel routine and bypassed the command lookup convention ... and some high-use CMS code modified to use SVC 203 (instead 202) ... trivia decimal 202 is hex "CA" chosen for abbreviation for CAmbridge.
a few past posts mentioning svc 203
https://www.garlic.com/~lynn/2003l.html#4 S/360 Engineering Changes
https://www.garlic.com/~lynn/2004p.html#22 need a firewall
https://www.garlic.com/~lynn/2004q.html#49 creat
https://www.garlic.com/~lynn/2009o.html#12 Calling ::routines in oorexx 4.0
https://www.garlic.com/~lynn/2009o.html#15 Calling ::routines in oorexx 4.0
https://www.garlic.com/~lynn/2009s.html#57 Happy DEC-10 Day
https://www.garlic.com/~lynn/2012g.html#1 Did the 1401 use SVC's??
misc. past posts mentioning cambridge science center
https://www.garlic.com/~lynn/subtopic.html#545tech
triva ... the cp/cms wiki mentions cp67 supporting 60users ... however,
I've recently posted that genoble's modification to cp67 for working set
dispather and local lru page replacement supported 35 users with
effectively same workload, throughput, and response (on 1mbyte 360/67)
as the cambrige cp67 supporting 80users (on 768kbyte 360/67)
https://www.garlic.com/~lynn/2013k.html#70 What Makes a Tax System Bizarre
other history
https://en.wikipedia.org/wiki/History_of_CP/CMS
above somewhat garble's "IDC" ... one of the co-op students
mentioned here
https://www.garlic.com/~lynn/2006v.html#email731212
graduates and joins IDC where he makes further enhancements to the pageable code to include all process, description, and paging control blocks ... supporting non-disruptive migration of processes between systems in loosely-coupled configuration. this was part of supporting 7x24 operation ... even in the days when machines had to be regularly taken down for system maintenance.
misc. past posts mentioning virtual machine based commerical
online computer service
https://www.garlic.com/~lynn/submain.html#timeshare
other IDC trivia (and topic drift) with regard to the financial crisis ... in Jan2009 when there was still some facade that TARP funds would be used for purchase of toxic assets (instead of propping up bonuses of too-big-to-fail executives) there was brief mention of IDC being involved in valuing toxic assets for purchase. Part of the issue was that in 1972, IDC had bought the pricing services division from one of the credit rating agencies ... sort of supporting the congressional hearing testimony that the credit rating agency business model had become mis-aligned ... they were doing ratings for the benefit of the sellers ... not the buyers (and therefor didn't require accurate pricing valuation).
past posts mentioning toxic CDOs (toxic assets)
https://www.garlic.com/~lynn/submisc.html#toxic.cdo
past posts mentioning too big to fail
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
past post mentioning IDC, TARP, & pricing services division
https://www.garlic.com/~lynn/2009.html#21 Banks to embrace virtualisation in 2009: survey
https://www.garlic.com/~lynn/2009.html#31 Banks to embrace virtualisation in 2009: survey
https://www.garlic.com/~lynn/2009.html#32 What are the challenges in risk analytics post financial crisis?
https://www.garlic.com/~lynn/2009.html#42 Lets play Blame Game...?
https://www.garlic.com/~lynn/2009.html#52 The Credit Crunch: Why it happened?
https://www.garlic.com/~lynn/2009.html#77 CROOKS and NANNIES: what would Boyd do?
https://www.garlic.com/~lynn/2009.html#79 The Credit Crunch: Why it happened?
https://www.garlic.com/~lynn/2009b.html#38 A great article was posted in another BI group: "To H*** with Business Intelligence: 40 Percent of Execs Trust Gut"
https://www.garlic.com/~lynn/2009b.html#49 US disaster, debts and bad financial management
https://www.garlic.com/~lynn/2009b.html#53 Credit & Risk Management ... go Simple ?
https://www.garlic.com/~lynn/2009b.html#78 How to defeat new telemarketing tactic
https://www.garlic.com/~lynn/2009c.html#1 Audit II: Two more scary words: Sarbanes-Oxley
https://www.garlic.com/~lynn/2009e.html#15 The background reasons of Credit Crunch
https://www.garlic.com/~lynn/2009e.html#53 Are the "brightest minds in finance" finally onto something?
https://www.garlic.com/~lynn/2009e.html#70 When did "client server" become part of the language?
https://www.garlic.com/~lynn/2009f.html#41 On whom or what would you place the blame for the sub-prime crisis?
https://www.garlic.com/~lynn/2009f.html#49 Is the current downturn cyclic or systemic?
https://www.garlic.com/~lynn/2009h.html#40 Analysing risk, especially credit risk in Banks, which was a major reason for the current crisis
https://www.garlic.com/~lynn/2009n.html#20 UK issues Turning apology (and about time, too)
https://www.garlic.com/~lynn/2009n.html#68 Opinions on the 'Unix Haters' Handbook'
https://www.garlic.com/~lynn/2009q.html#47 Is C close to the machine?
https://www.garlic.com/~lynn/2010c.html#48 Happy DEC-10 Day
https://www.garlic.com/~lynn/2010d.html#4 alphas was: search engine history, was Happy DEC
https://www.garlic.com/~lynn/2010e.html#52 LPARs: More or Less?
https://www.garlic.com/~lynn/2010i.html#49 "Fraud & Stupidity Look a Lot Alike"
https://www.garlic.com/~lynn/2010n.html#50 TARP Bailout to Cost Less Than Once Anticipated
https://www.garlic.com/~lynn/2011d.html#25 The first personal computer (PC)
https://www.garlic.com/~lynn/2011j.html#45 S&P's History of Relentless Political Advocacy
https://www.garlic.com/~lynn/2011j.html#50 How Many Divisions Does Standard and Poors Have?
https://www.garlic.com/~lynn/2012c.html#46 PC industry is heading for more change
https://www.garlic.com/~lynn/2013b.html#35 Adair Turner: A New Debt-Free Money Advocate
https://www.garlic.com/~lynn/2013c.html#66 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013d.html#67 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013j.html#57 The Internet: Missing the Light
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Sun, 01 Sep 2013 11:30:50 -0400jmfbahciv <See.above@aol.com> writes:
some past posts mention states insolvent
https://www.garlic.com/~lynn/2011o.html#69 Civilization, doomed?
https://www.garlic.com/~lynn/2011p.html#125 UC-Berkeley and other 'public Ivies' in fiscal peril
https://www.garlic.com/~lynn/2012g.html#75 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012h.html#18 How do you feel about the fact that India has more employees than US?
as I've recently mention that in 2010, CBO had report that after
congress allowed fiscal responsibility act to expire in 2002 (required
spending to match revenue) ... that tax revenues were reduced by $6T and
spending increased by $6T (compared to baseline which had all federal
debt retired by 2010) for $12T budget gap. some recent refs:
https://www.garlic.com/~lynn/2013k.html#41 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#43 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#59 John Boyd's Art of War
https://www.garlic.com/~lynn/2013k.html#72 Versailles on the Potomac at it again
It was in the middle of last decade, I noticed the comptroller general including references in speeches to nobody in congress capable of middle school arithmetic (for how they were savaging the budget).
past posts mentioning fiscal responsibility act
https://www.garlic.com/~lynn/submisc.html#fiscal.responsibility.act
past posts mentioning comptroller general (and his references the middle
of last decade that nobody in congress was capable of middle school
arithmetic for what they were doing to the budget)
https://www.garlic.com/~lynn/submisc.html#comptroller.general
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sun, 01 Sep 2013 14:26:47 -0400Peter Flass <Peter_Flass@Yahoo.com> writes:
oh and it was Team B
https://en.wikipedia.org/wiki/Team_B
heavy player supporting Saddam
https://en.wikipedia.org/wiki/United_States_support_for_Iraq_during_the_Iran-Iraq_war
in the iran/iraq war
https://en.wikipedia.org/wiki/Iran-Iraq_War
they then go on to help with US being arms merchants to both sides
https://en.wikipedia.org/wiki/Iran-Contra_affair
and it is still Team B in this iraq invasion
https://en.wikipedia.org/wiki/Gulf_War
as well as the most recent iraq invasion
https://en.wikipedia.org/wiki/Iraq_War
following has Team B picture
CIA files prove America helped Saddam as he gassed Iran
http://www.stripes.com/opinion/cia-files-prove-america-helped-saddam-as-he-gassed-iran-1.238362
more:
CIA Files Show U.S. Was Involved In Saddam Hussein's Iranian Gas
Attacks, Foreign Policy Reports
http://www.huffingtonpost.com/2013/08/26/us-saddam-hussein_n_3815109.html
Exclusive: CIA Files Prove America Helped Saddam as He Gassed Iran
http://www.foreignpolicy.com/articles/2013/08/25/secret_cia_files_prove_america_helped_saddam_as_he_gassed_iran
past posts mentioning Team B
https://www.garlic.com/~lynn/submisc.html#team.b
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Sun, 01 Sep 2013 15:08:02 -0400Anne & Lynn Wheeler <lynn@garlic.com> writes:
oh above reference includes: "The great M-1 tank myth"
http://elpdefensenews.blogspot.com.au/2013/07/the-great-m-1-tank-myth.html
other past posts mentioning M-1
https://www.garlic.com/~lynn/2001m.html#13 mainframe question
https://www.garlic.com/~lynn/2006g.html#13 News Release
https://www.garlic.com/~lynn/2009p.html#16 WSJ.com - IBM Puts Executive on Leave
https://www.garlic.com/~lynn/2010.html#34 360 programs on a z/10
https://www.garlic.com/~lynn/2010e.html#59 More calumny: "Secret Service Uses 1980s Mainframe"
https://www.garlic.com/~lynn/2010h.html#51 25 reasons why hardware is still hot at IBM
https://www.garlic.com/~lynn/2010i.html#57 Favourite computer history books?
https://www.garlic.com/~lynn/2011j.html#14 Innovation and iconoclasm
https://www.garlic.com/~lynn/2011m.html#58 computer bootlaces
https://www.garlic.com/~lynn/2011n.html#21 Goodbye, OODA-Loop
https://www.garlic.com/~lynn/2012h.html#9 Monopoly/ Cartons of Punch Cards
https://www.garlic.com/~lynn/2012i.html#2 Interesting News Article
https://www.garlic.com/~lynn/2012n.html#29 Jedi Knights
https://www.garlic.com/~lynn/2012n.html#38 Jedi Knights
https://www.garlic.com/~lynn/2013e.html#5 Lessons Learned from the Iraq War
https://www.garlic.com/~lynn/2013j.html#36 What Makes a Tax System Bizarre?
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Mon, 02 Sep 2013 10:04:50 -0400jmfbahciv <See.above@aol.com> writes:
Barney Frank is mostly mis-direction ... the influence on mortgages was via the GSEs, Frannie, Freddie, etc. which would buy mortgages directly from loan originators (that issued mortgages and had various level of standards) ... influence was to relax standards ... but never to the level that the unregulated, no-depository loan originators were able to do once they found that they could pay rating agencies to give triple-A to mortgages packaged as toxic CDOs.
being able to pay rating agencies for triple-A for toxic CDOs opened up a greater $27T market sold through wall-street to investors that were restricted to dealing in "safe" investments ... like national soveriegn funds and large institutional retirement funds ... this was in a period where the GSEs (that Barney and other members of congress had influence) did possibly $500B or less.
Being able to pay for triple-A on everything ... the unregulated, non-depository loan originators no longer had to care about loan quality and/or borrower's qualifications, the whole triple-A rated toxic CDO business came to be how fast the loan transactions could be turned over.
reference that triple-A toxic CDOs did over $27T during the bubble.
Evil Wall Street Exports Boomed With 'Fools' Born to Buy Debt
https://www.bloomberg.com/news/articles/2008-10-27/evil-wall-street-exports-boomed-with-fools-born-to-buy-debt
the claim is that wallstreet industry tripled (as percent of GDP) during the economic mess ... the skim, commissions, and fees on the over $27T in new business easily accounts for that tripling.
based on dollars processed by the GSEs and they continued to have some loan requirements ... GSEs accounted for less than 1% of the financial mess. Pointing finger at short-comings of GSEs is primarily obfuscation and misdirection away from institutions responsible for 99% of the problem.
late in the bubble, with majority of the mortgage market switched to triple-A rated toxic CDOs ... GSEs came under pressure to buy these triple-A rated toxic CDOs (in place of buying mortgages directly from loan originators). This has put the goverment somewhat at war with itself. There is large part of the government that is active in not holding the too-big-to-fail (that were responsible for the economic mess) from any accountability ... even avoiding bringing criminal charges ... which is led to press about too-big-to-prosecute and too-big-to-jail. However, there is still pressure for GSE to recover billions in losses they've had on these fraudulent triple-A rated toxic CDOs. So there is periodic cases of GSEs suing responsible too-big-to-fail for fraud (even when other parts of the gov. are everything possible to avoid bringing them to justice).
recent reference from last week
Judge rules mortgage fraud lawsuit against Bank of America can proceed
http://www.charlotteobserver.com/2013/08/28/4270006/judge-rules-mortgage-fraud-lawsuit.html
Government mortgage fraud lawsuit against BofA headed to trial
http://www.reuters.com/article/2013/08/27/us-bankofamerica-fraud-lawsuit-idUSBRE97Q0OV20130827
US demands more than $6 billion from JPMorgan to settle claim
http://www.cnbc.com/id/100991740
there is periodic reference to the too-big-to-fail paying token fines
... but nobody having to admit fraud and nobody going to jail (some of
the token fines have been billions ... but when trillions are involved
... they are less than 1%).
https://www.garlic.com/~lynn/submisc.html#too-big-to-fail
some of this is further complicated with the repeal of Glass-Steagall
creating the too-big-to-fail ... now you have investment banking arms
of (too-big-to-fail) depository institutions (that originated
individual mortgages), dealing in triple-A rated toxic CDOs involving
mortgages originated by non-depository institutions.
https://www.garlic.com/~lynn/submisc.html#Pecora&/orGlass-Steagall
During the S&L crisis, the administration worked hard to eliminate
regulation and oversight ... opening the institutions to looting
(analogous to requiring that bank doors and vaults had to be left open,
alarms turned off and no guards) with VP the point-person in the
administration seeing to the elimination of regulation and oversight
... and turns out members of his family also playing in looting
institutions. Roll forward to last decade with elimination of regulation
and oversight leading to economic mess ... and member of his family
again in the administration. recent thread on the subject:
https://www.garlic.com/~lynn/2013k.html#52 The agency problem and how to create a criminogenic environment
https://www.garlic.com/~lynn/2013k.html#57 The agency problem and how to create a criminogenic environment
other recent posts mentioning S&L crisis
https://www.garlic.com/~lynn/2013.html#0 IBM Is Changing The Terms Of Its Retirement Plan, Which Is Frustrating Some Employees
https://www.garlic.com/~lynn/2013.html#49 Insider Fraud: What to Monitor
https://www.garlic.com/~lynn/2013.html#68 Choice of Mary Jo White to Head SEC Puts Fox In Charge of Hen House
https://www.garlic.com/~lynn/2013b.html#35 Adair Turner: A New Debt-Free Money Advocate
https://www.garlic.com/~lynn/2013b.html#41 Adair Turner: A New Debt-Free Money Advocate
https://www.garlic.com/~lynn/2013b.html#44 Adair Turner: A New Debt-Free Money Advocate
https://www.garlic.com/~lynn/2013b.html#46 Bankers Who Made Millions In Housing Boom Misled Investors: Study
https://www.garlic.com/~lynn/2013b.html#50 How to Cut Megabanks Down to Size
https://www.garlic.com/~lynn/2013b.html#53 Should Bethany McLean Be Bothered by the Government Lawsuit Against S&P?
https://www.garlic.com/~lynn/2013d.html#25 Senator Sherrod Brown Drops a Bombshell in Mary Jo White's Hearing
https://www.garlic.com/~lynn/2013d.html#64 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#68 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013d.html#70 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013e.html#46 Secrecy for Sale: Inside the Global Offshore Money Maze
https://www.garlic.com/~lynn/2013e.html#86 What Makes a thread about the European debt crisis Bizarre?
https://www.garlic.com/~lynn/2013h.html#48 OT: "Highway Patrol" back on TV
https://www.garlic.com/~lynn/2013h.html#65 OT: "Highway Patrol" back on TV
https://www.garlic.com/~lynn/2013j.html#18 What Makes an Architecture Bizarre?
https://www.garlic.com/~lynn/2013j.html#29 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#30 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#61 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013j.html#73 Why DOJ Deemed Bank Execs Too Big To Jail
https://www.garlic.com/~lynn/2013j.html#80 Why DOJ Deemed Bank Execs Too Big To Jail
https://www.garlic.com/~lynn/2013k.html#26 The agency problem and how to create a criminogenic environment
https://www.garlic.com/~lynn/2013k.html#29 The agency problem and how to create a criminogenic environment
https://www.garlic.com/~lynn/2013k.html#32 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#35 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#41 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#43 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#54 What Makes a Tax System Bizarre?
https://www.garlic.com/~lynn/2013k.html#59 John Boyd's Art of War
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: What Makes a Tax System Bizarre? Newsgroups: alt.folklore.computers Date: Mon, 02 Sep 2013 11:41:05 -0400Anne & Lynn Wheeler <lynn@garlic.com> writes:
during the period where oversight was being eliminated opening them for
looting and the S&L crisis ... there is also the Team B activity
https://www.garlic.com/~lynn/2013k.html#84 spacewar
other past preferences
https://www.garlic.com/~lynn/submisc.html#team.b
and
https://en.wikipedia.org/wiki/Team_B
https://en.wikipedia.org/wiki/United_States_support_for_Iraq_during_the_Iran-Iraq_war
http://www.foreignpolicy.com/articles/2013/08/25/secret_cia_files_prove_america_helped_saddam_as_he_gassed_iran
https://en.wikipedia.org/wiki/Iran-Iraq_War
https://en.wikipedia.org/wiki/Iran-Contra_affair
https://en.wikipedia.org/wiki/Gulf_War
and then this past decade, we have more Team B
https://en.wikipedia.org/wiki/Iraq_War
and MICC
https://www.garlic.com/~lynn/submisc.html#military.industrial.complex
https://www.garlic.com/~lynn/submisc.html#perpetual.war
and more elimination of regulation and oversight resulting in an even
greater economic mess (than the S&L crisis) ... including not enforcing
remaining regulation ...
https://www.garlic.com/~lynn/submisc.html#enron
https://www.garlic.com/~lynn/submisc.html#libor
https://www.garlic.com/~lynn/submisc.html#madoff
https://www.garlic.com/~lynn/submisc.html#sarbanes-oxley
along with destroying the federal budget. 2010 analysis that there was
$6T cut in tax revenue and $6T increasing in spending (compared to
baseline which had all federal debt paid off in 2010) for $12T budget
gap ... most of it after letting the fiscal responsibility act expire
(required spending match tax revenues) in 2002. misc. past posts
https://www.garlic.com/~lynn/submisc.html#fiscal.responsibility.act
which led to comptroller general including in speeches references to not
capable of middle school arithmetic
https://www.garlic.com/~lynn/submisc.html#comptroller.general
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From: lynn@garlic.com Subject: NSA and crytanalysis Date: 2 Sep 2013 Blog: Cryptography Mailing Listrecent post with email discussing PGP-like implementation ... a decade before PGP in financial crypto blog
In the late 90s, I worked on crypto chip for financial applications
... I would facetiously talk about taking a $500 mil-spec chip and
cost reduce by 2-3 orders of magnitude while making it more secure
(final objective was well under a dollar). Part of the objective was
also to eliminate all the vulnerabilities that payment chips being
done primarily in Europe were prone to. Long winded thread in
financial crypto blog
https://www.garlic.com/~lynn/subintegrity.html#yescard
and
https://www.garlic.com/~lynn/subintegrity.html#payments
About that time, I was also approached by the transit industry to make the payment chip meet transit turnstyle requirements (while not reducing any security) ... this was a contactless chip being able to do crypto operation in 1/10th sec elapsed time and power profile of contactless transit turnstyle operation.
RSA chips at the time were really large implementing 1024-bit
arithmetic requiring enormous power and contact operation to get time
in a few seconds. It turns out I could have a AADS chip strawman with
ECC that was higher integrity *AND* could meet the transit industry
turnstyle contactless power & elapsed time profile. some past
references to AADS chip strawman
https://www.garlic.com/~lynn/x959.html#aadsstraw
I was also asked to give presentation at Intel trusted computing
... gone 404 but lives on at wayback machine
https://web.archive.org/web/20011109072807/http://www.intel94.com/idf/spr2001/sessiondescription.asp?id=stp%2bs13
one of the problems in the early part of the century was that I wanted to go for higher than EAL4+ evaluation ... but NIST(somebody) pullled the ECC evaluation criteria ... and since ECC was part of the chip silicon ... w/o the ECC evaluation criteria ... I had to settle for EAL4+.
Possibly part of the issue with AADS chip strawman was I approached it as purely a cost issue ... and the objective was to eliminate all possible costs from the whole infrastructure ... the side effect of course, it also eliminated all related profit.
other recent posts mentioning intel trusted computing track
https://www.garlic.com/~lynn/2013k.html#77 Insane Insider Threat Program in Context of Morally and Mentally Bankrupt US Intelligence System
https://www.garlic.com/~lynn/2013k.html#66 German infosec agency warns about Trusted Computing in Windows 8
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Mon, 02 Sep 2013 17:00:59 -0400Peter Flass <Peter_Flass@Yahoo.com> writes:
misc past posts mentioning HDV/CLRIO sequence:
https://www.garlic.com/~lynn/97.html#20 Why Mainframes?
https://www.garlic.com/~lynn/2000c.html#33 What level of computer is needed for a computer to Love?
https://www.garlic.com/~lynn/2000c.html#67 Does the word "mainframe" still have a meaning?
https://www.garlic.com/~lynn/2000c.html#72 Does the word "mainframe" still have a meaning?
https://www.garlic.com/~lynn/2001l.html#32 mainframe question
https://www.garlic.com/~lynn/2005h.html#40 Software for IBM 360/30
https://www.garlic.com/~lynn/2011o.html#20 3270 archaeology
https://www.garlic.com/~lynn/2011o.html#23 3270 archaeology
as other mention ... the 3274/3278 was significantly slower
than 3272/3277 ... past posts with old performance comparisons
between 3274 & 3272
https://www.garlic.com/~lynn/2001m.html#19 3270 protocol
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From: Anne & Lynn Wheeler <lynn@garlic.com> Subject: Re: spacewar Newsgroups: alt.folklore.computers Date: Mon, 02 Sep 2013 21:13:31 -0400Peter Flass <Peter_Flass@Yahoo.com> writes:
when I first transferred to san jose ... they let me wander around various places including disk engineering and product test labs in bldg. 14&15. At the time they had a variety of 370s that were scheduled 7x24 for stand-alone "testcell" testings (engineering devices were inside a steel mesh cage that could be kept locked).
they had tried to run MVS in that environment ... hoping to get multiple testcell testing in operating system environment ... but found that MVS with just a single testcell had 15min mean-time-between-failure (requiring manual reboot). I offered to rewrite i/o supervisor to make it bullet-proof and never fail.
the resulting system allowed any number of on-demand concurrent testing
... significantly improving engineering development productivity. some
past posts
https://www.garlic.com/~lynn/subtopic.html#disk
In any internal write-up of the effort, I unfortunately included the
reference to MVS 15min MTBF ... and I believe the MVS group would have
gotten me fired if they could figure out how ... but they did try to
otherwise obstruct my career (even tho the document was only availble
for internal distribution). Part of the problem was likely the culture
change after the future system failure ... some past posts
https://www.garlic.com/~lynn/submain.html#futuresys
future system failure reference from "Computer Wars: The Post-IBM World"
Ferguson & Morris:
... and perhaps most damaging, the old culture under Watson Snr and Jr
of free and vigorous debate was replaced with sycophancy and make no
waves under Opel and Akers. It's claimed that thereafter, IBM lived in
the shadow of defeat
... and:
But because of the heavy investment of face by the top management, F/S
took years to kill, although its wrongheadedness was obvious from the
very outset. "For the first time, during F/S, outspoken criticism became
politically dangerous," recalls a former top executive.
... snip ...
and current with the change was executives managing their career ... including managing the information flow up the executive chain (where an internal documentation about MVS 15min MTBF probably was inconsistent with what they were likely reporting up the executive chain)
another side-effect of doing the I/O supervisor rewrite ... was the disk engineers would frequently start out blaming my software for problems ... and I would get sucked into diagnosing problems with development hardware. Eventually they were asking me to sit in on conference calls with POK channel engineers on design issues.
some years later ... when 3380s were about to ship ... MVS was still
failing in standard FE hardware regression tests ... with no indication
of what caused the failure. old email reference of FE regression bucket
of 57 expected hardware errors:
https://www.garlic.com/~lynn/2007.html#email801015
in this post
https://www.garlic.com/~lynn/2007.html#2 The Elements of Programming Style
all errors resulted in failure of MVS and in 2/3rds of the failures there was no indication of what caused the failure.
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