Ref : http://xkcd.com/562/
SIM cards for EPIC copies
from www.hindu.com
Ref : http://www.hindu.com/2009/03/25/stories/2009032554250400.htm
Ref : http://www.hindu.com/2009/03/25/stories/2009032554250400.htm
| Freebies handed out to voters at BJP worker's birthday celebrations |
A large number of people attended the function
BJP leader Ananth Kumar addressed the gathering
BANGALORE: The Election Commission may be keeping a hawk's eye on poll-eve freebies, but politicians in the country's tech capital seem to be striving to fly low under the radar in an attempt to woo the electorate with sweeteners.
Here is an example of a questionable method framed" by The Hindu's photographer K. Murali Kumar on Tuesday at Banashankari II Stage in Bangalore.
The sequence of events is as follows: A BJP worker, A. H. Basavaraju, holds his 42nd birthday celebrations at a big choultry near the BMTC bus stop (Monotype bus stop). Interestingly, the cut-outs erected nearby are those of BJP leaders L.K. Advani, B.S. Yeddyurappa and H.N. Ananth Kumar along with a life-sized one of Mr. Basavaraju himself.
A large number of people, including those from the lower strata of society, are present on the choultry premises, and refreshments are served to them.
Our photographer, on being tipped off that BJP general secretary Ananth Kumar, who is contesting the Lok Sabha elections from Bangalore South, will visit the choultry, rushes there hoping for an election-related picture.
Unusual queueMr. Ananth Kumar arrives and addresses the gathering. However, Mr. Murali Kumar spots a queue in front of the choultry and curious to know what it is about, edges towards it.
He then realises that much more than snacks is being doled out: volunteers are distributing Vodafone SIM cards in return for photocopies of their Elector's Photo Identity Cards (EPICs).
He clicks several frames and beats a hasty retreat upon being noticed by the organisers.
Now comes the tricky question: Is this a violation of the model code of conduct, and on whose behalf were the SIM cards distributed?
Financial Policy Despair - NYTimes.com
from www.nytimes.com
Ref : http://www.nytimes.com/2009/03/23/opinion/23krugman.html?partner=rssnyt&emc=rss
Ref : http://www.nytimes.com/2009/03/23/opinion/23krugman.html?partner=rssnyt&emc=rss
Over the weekend The Times and other newspapers reported leaked details about the Obama administration's bank rescue plan, which is to be officially released this week. If the reports are correct, Tim Geithner, the Treasury secretary, has persuaded President Obama to recycle Bush administration policy — specifically, the "cash for trash" plan proposed, then abandoned, six months ago by then-Treasury Secretary Henry Paulson.
Paul Krugman
This is more than disappointing. In fact, it fills me with a sense of despair.
After all, we've just been through the firestorm over the A.I.G. bonuses, during which administration officials claimed that they knew nothing, couldn't do anything, and anyway it was someone else's fault. Meanwhile, the administration has failed to quell the public's doubts about what banks are doing with taxpayer money.
And now Mr. Obama has apparently settled on a financial plan that, in essence, assumes that banks are fundamentally sound and that bankers know what they're doing.
It's as if the president were determined to confirm the growing perception that he and his economic team are out of touch, that their economic vision is clouded by excessively close ties to Wall Street. And by the time Mr. Obama realizes that he needs to change course, his political capital may be gone.
Let's talk for a moment about the economics of the situation.
Right now, our economy is being dragged down by our dysfunctional financial system, which has been crippled by huge losses on mortgage-backed securities and other assets.
As economic historians can tell you, this is an old story, not that different from dozens of similar crises over the centuries. And there's a time-honored procedure for dealing with the aftermath of widespread financial failure. It goes like this: the government secures confidence in the system by guaranteeing many (though not necessarily all) bank debts. At the same time, it takes temporary control of truly insolvent banks, in order to clean up their books.
That's what Sweden did in the early 1990s. It's also what we ourselves did after the savings and loan debacle of the Reagan years. And there's no reason we can't do the same thing now.
But the Obama administration, like the Bush administration, apparently wants an easier way out. The common element to the Paulson and Geithner plans is the insistence that the bad assets on banks' books are really worth much, much more than anyone is currently willing to pay for them. In fact, their true value is so high that if they were properly priced, banks wouldn't be in trouble.
And so the plan is to use taxpayer funds to drive the prices of bad assets up to "fair" levels. Mr. Paulson proposed having the government buy the assets directly. Mr. Geithner instead proposes a complicated scheme in which the government lends money to private investors, who then use the money to buy the stuff. The idea, says Mr. Obama's top economic adviser, is to use "the expertise of the market" to set the value of toxic assets.
But the Geithner scheme would offer a one-way bet: if asset values go up, the investors profit, but if they go down, the investors can walk away from their debt. So this isn't really about letting markets work. It's just an indirect, disguised way to subsidize purchases of bad assets.
The likely cost to taxpayers aside, there's something strange going on here. By my count, this is the third time Obama administration officials have floated a scheme that is essentially a rehash of the Paulson plan, each time adding a new set of bells and whistles and claiming that they're doing something completely different. This is starting to look obsessive.
But the real problem with this plan is that it won't work. Yes, troubled assets may be somewhat undervalued. But the fact is that financial executives literally bet their banks on the belief that there was no housing bubble, and the related belief that unprecedented levels of household debt were no problem. They lost that bet. And no amount of financial hocus-pocus — for that is what the Geithner plan amounts to — will change that fact.
You might say, why not try the plan and see what happens? One answer is that time is wasting: every month that we fail to come to grips with the economic crisis another 600,000 jobs are lost.
Even more important, however, is the way Mr. Obama is squandering his credibility. If this plan fails — as it almost surely will — it's unlikely that he'll be able to persuade Congress to come up with more funds to do what he should have done in the first place.
All is not lost: the public wants Mr. Obama to succeed, which means that he can still rescue his bank rescue plan. But time is running out.
Remembering a hero
from www.thehindu.com
Ref : http://www.thehindu.com/2009/03/22/stories/2009032261000900.htm
— Photo: PTI
Members of the Punjab Shaheed Bhagat Singh Youth Sports and Welfare Club hold a peace march to mark the 77th martyrdom of Shaheed Bhagat Singh in Patiala on Saturday.
Ref : http://www.thehindu.com/2009/03/22/stories/2009032261000900.htm
— Photo: PTI
Members of the Punjab Shaheed Bhagat Singh Youth Sports and Welfare Club hold a peace march to mark the 77th martyrdom of Shaheed Bhagat Singh in Patiala on Saturday.
French denounce job, wage cuts
from www.thehindu.com
Ref : http://www.thehindu.com/2009/03/20/stories/2009032055661300.htm
PHOTO: AP
BLEAK FUTURE: Students raise slogans during a march in Marseilles, France, on Thursday.
Ref : http://www.thehindu.com/2009/03/20/stories/2009032055661300.htm
BLEAK FUTURE: Students raise slogans during a march in Marseilles, France, on Thursday.
Paris: An estimated three-million-plus people struck work and marched through the streets of Paris and major French towns on Thursday to protest against low wages, job insecurity and rising unemployment. This impressive general strike was the second in as many months, with the mobilisation much higher than on January 29, 2009.
Clear blue skies and warm spring sunshine encouraged entire families to step outdoors, many of them picnicking in parks and gardens before joining placard carrying, banner waving and slogan shouting fellow workers in the streets. The atmosphere was festive despite the solemnity of the message the strikers were determined to hit home to the government.
Unemployment in France has reached record proportions with over two million persons out of work. It is estimated by the national statistics office that another million jobs will be axed in France by the end of the year.
"I am a student and I have been on strike these past few months. The government is blindly cost cutting, reducing jobs, favouring big business. For young persons like me the future appears very dark and frightening," said biology student Aurelian.
Jean-Claude, a rail worker and father of four, said: "After fifteen years of hard work I earn about 1,200 euros per month. We just cannot make ends meet. Our work load has increased steadily as the number of workers has declined. This cannot continue."
There were large-scale protests against companies having announced large job cuts or plant closures such as Total, Arcelor Mittal, or German auto parts group Continental. People are angry because many of these companies have cut jobs despite registering comfortable profits.
The unions are demanding an increase in the minimum wage and have called for suspending job cuts in the administration and other public services. They also want a reversal of the decision to place a 50 per cent ceiling on income tax and more protection for workers threatened by job losses.
Stimulus measuresThe government has so far forked out some €26 billion on various stimulus measures including a €6-billion bailout package for the automobile industry, €11 billion in direct state investment in infrastructure projects and subsidies to businesses to improve cash flow.
It has also given money to failing banks and benefits for the poorest sections of society. The workers say this is nowhere enough.
The protests in Paris looked colourful, even cheerful as mile upon mile of drumming, chanting people joined the huge swelling mass of humanity. Almost 80 per cent of the French said they supported the strike.
Disruption of traffic was not as severe as feared because of a new law stipulating minimum service but rail and air services were badly affected. Postal services were unavailable and most government offices remained closed as did schools and universities. Several private sector workers joined the protests.
CPI(M) launches poll website
from www.thehindu.com
Ref : http://www.thehindu.com/2009/03/19/stories/2009031961141300.htm
— Photo: Special Arrangement
Going hi-tech: CPI(M) Polit Bureau member Sitaram Yechury launching the party's website on poll campaign in New Delhi on Wednesday.
Ref : http://www.thehindu.com/2009/03/19/stories/2009031961141300.htm
| Visitors can listen to Basu, Karat & Yechury on several issues |
Going hi-tech: CPI(M) Polit Bureau member Sitaram Yechury launching the party's website on poll campaign in New Delhi on Wednesday.
NEW DELHI: The Communist Party of India (Marxist) on Wednesday extended its outreach by adding cyberspace to its campaign for the Lok Sabha elections.
Party Polit Bureau member and MP Sitaram Yechury formally launched the website ( www.vote.cpim.org), adding the new medium to traditional forms of political communication, aimed at attracting youth.
Mr. Yechury said Internet penetration in the country was in the range of 6 to 8 per cent and in terms of sheer numbers, it translated into some 60 million to 80 million people.
Range of featuresThe website has a range of features, including a section where the visitor can hear veteran Marxist leader Jyoti Basu, general secretary Prakash Karat and Mr. Yechury on various issues.
Besides reading the party's position on issues, visitors can peruse election manifestos, both current and previous ones. Visitors can also ask questions and expect a response within 24 hours, Mr. Yechury said.
One window appeals for funds for election campaign.
Mr. Yechury said the party adopted this route as the level of transparency required to monitor and reconfirm online donations was not yet in place in India. Details of such contributions would be placed in public domain.
Asked whether there existed an ideological clash as the party was against computerisation, he said the CPI(M) was now using the cyberspace for political campaign. The opposition then was for job loss on account of computerisation and the need to compensate such losses.
Alternative jobs"We never opposed technology of computers. We are only against unemployment that computers would generate. We want such people provided with alternative jobs."
BJP speaks in two voices on Varun
from www.hindu.com
Ref : http://www.hindu.com/2009/03/18/stories/2009031856091000.htm
Ref : http://www.hindu.com/2009/03/18/stories/2009031856091000.htm
NEW DELHI: The reported communal remarks by Varun Gandhi, Bharatiya Janata Party's candidate from Pilibhit and son of Maneka Gandhi, at several rallies in his constituency were strongly criticised by the party's two Muslim faces – Shahnawaz Hussain and Mukhtar Abbas Naqvi – but some other leaders preferred to say that they had not heard the speech, which was was telecast by several channels.
Mr. Hussain said he had conveyed his strong protest to the senior party leadership, including party president Rajnath Singh and its prime ministerial candidate L.K. Advani.
A few leaders in the party admitted that this, added to the fact that so far the BJP has cleared only two Muslim candidates, would certainly push back Mr. Advani's attempt to present the BJP as the "true secular party" with others like the Congress and the Left being "pseudo secular."
He said: "I heard the shocking speech on television and never in my years of association with the BJP, have I ever heard any party leader using such foul abusive language against any community. Moreover, it was shocking that he indirectly also abused Mahatma Gandhi," Mr. Hussain said. "I trust my party leadership will look at the issue sternly."
Mr. Naqvi did not deny that Mr. Gandhi used unacceptable language against Muslims, but said that this was because of his past "Congress culture," although he was not able to say when Mr. Varun Gandhi was with the Congress, for he has been with the BJP well before he reached the age of contesting the Lok Sabha polls.
Party leader Venkaiah Naidu, however, was more inclined to believe what Mr. Gandhi himself said later – that he had not said anything communal and the "tapes" with the television channels were "doctored" and "fraudulent." The party would first have to find out what exactly Mr. Gandhi said.
Some in the party said Mr. Gandhi would come here, hold a press conference and explain what he said and what he did not.
03/16/09 PHD comic: 'Deciding what to wear'
from PHD Comics
Ref : http://www.phdcomics.com/comics.php?f=1147
Ref : http://www.phdcomics.com/comics.php?f=1147
| Piled Higher & Deeper by Jorge Cham | www.phdcomics.com | |
 | ||
| title: "Deciding what to wear" - originally published 3/16/2009
| ||
Interesting bit about Jyoti Basu
from www.hindu.com
Ref : http://www.hindu.com/thehindu/holnus/000200903171653.htm
Ref : http://www.hindu.com/thehindu/holnus/000200903171653.htm
Mr. Basu had declined to accept the mantle of Prime Ministership at the directive of his party Polit Bureau despite being a consensus candidate when the United Front came into power at the Centre in 1996.
He became embroiled in controversy when he described as a 'historic blunder' his party's decision against accepting the primeministership -- a comment termed by CPI(M) as his "personal view".
Ban on Muthalik
from www.hindu.com
Ref : http://www.hindu.com/2009/03/17/stories/2009031757610100.htm
Ref : http://www.hindu.com/2009/03/17/stories/2009031757610100.htm
MANGALORE: The Deputy Commissioner and District Magistrate of Dakshina Kannada, V. Ponnuraj, has issued an order banning the entry of Sri Ram Sene chief Pramod Hanumanthrao Muthalik into the district for one year from Monday. Mangalore is the headquarters of the district.
The ban is based on his past record and the possibility of his entry leading to law and order problems, Mr. Ponnuraj told The Hindu.
Mr. Ponnuraj said the order was passed on Monday after Mr. Muthalik's counsel appeared for the two hearings on March 12 and 13.
Sources in the Deputy Commissioner's office said reports from the Tahsildar and the Assistant Commissioner said Mr. Muthalik gave statements to the media justifying the attack on women at the Amnesia pub here on January 24, besides warning of similar attacks.
Neo-liberal policies will go: CPI(M)
from www.hindu.com
Ref : http://www.hindu.com/2009/03/17/stories/2009031759991000.htm
— PHOTO: SHANKER CHAKRAVARTY
POLL AGENDA: CPI(M) general secretary Prakash Karat, along with Polit Bureau members, releases the manifesto for the general elections, in New Delhi on Monday. From left are Brinda Karat, Sitaram Yechury, M.K. Pandhe and Mohd. Amin.
Ref : http://www.hindu.com/2009/03/17/stories/2009031759991000.htm
| Party will usher in pro-poor policies, and an independent foreign policy, says manifesto |
POLL AGENDA: CPI(M) general secretary Prakash Karat, along with Polit Bureau members, releases the manifesto for the general elections, in New Delhi on Monday. From left are Brinda Karat, Sitaram Yechury, M.K. Pandhe and Mohd. Amin.
NEW DELHI: The Communist Party of India (Marxist) on Monday said it was committed to forming a non-Congress, non-Bharatiya Janata Party government at the Centre that would strengthen democracy and ensure equitable economic development and social justice.
"Five years of the Congress-led government had been a major disappointment for the people and a let-down of the mandate of the 2004 Lok Sabha elections," says the party in its manifesto for the general elections.
Four componentsReleasing the document, general secretary Prakash Karat said the alternative policies would have at least four components: reversing the neo-liberal policies and bringing in pro-poor policies; standing firm on secularism and defending it; giving a new deal to all oppressed sections and ensuring social justice; and having an independent foreign policy.
On economic policies, the manifesto promises to increase the annual plan expenditure to 10 per cent of the country's current GDP, stop further tax concessions to corporates, launch a drive to unearth black money, especially that stashed away in Swiss banks and other offshore tax havens, and strong regulation of the financial sector.
Other economic proposals include a total halt to disinvestment and privatisation of profit-making public sector undertakings, protecting the domestic industry from indiscriminate lowering of import duties and takeover of the existing Indian companies, prohibiting FDI in retail trade and reversing FDI guidelines to prevent backdoor entry.
Mr. Karat said the Left parties were successful in preventing the entry of WalMart into retail trade. He pointed out that the move would have displaced lakhs of shopkeepers and retail traders. Had Prime Minister Manmohan Singh and the then Finance Minister P. Chidambaram had their way, the entire banking industry would have collapsed.
The manifesto notes that the CPI(M) and the Left acted as "sentinels of people's interest" and the major legislation — the National Rural Employment Guarantee Act and the Tribal Forest Rights Act — would not have come about in their present form without the party's intervention.
It proposes strengthening democracy and federalism by amending Articles 355 (Protecting States against external aggression and internal disturbance) and 356 (imposition of President's Rule) to prevent their misuse, devolving 50 per cent of the total collection of central taxes to States, a political solution to the Kashmir problem based on maximum autonomy on the full scope of Article 370 (special status to J&K.)
TerrorismOn terrorism, the manifesto says the policy will be to revamp the intelligence machinery, enhance coordination between the security and intelligence agencies, modernise police forces and strengthen coastal security.
Charging the Manmohan Singh government with following a foreign policy that "is tied to the coat-tail of the United States," it promises to pursue an independent and non-aligned foreign policy that will defend India from imperialist pressures.
It proposes amendment to the Constitution to make legislative sanction mandatory for any international treaty and building of closer ties with West Asian countries.
Mr. Karat said the Defence Frame Agreement with the U.S. would be scrapped and the 123 Agreement on civilian nuclear cooperation reviewed and reworked.
As for Sri Lanka, he said there should be diplomatic and political efforts to protect the lives of Tamils in the war zone.
The party favoured an immediate political settlement based on autonomy for the Tamil-speaking areas within the framework of a united Sri Lanka.
"We are not happy as the Sri Lankan government has not expedited political settlement," he said.
$70 million fine paid by specialists for 'trading ahead to their customers'
from www.bloggingstocks.com
Ref : http://www.bloggingstocks.com/2009/03/06/70-million-fine-paid-by-specialists-for-trading-ahead-to-their/
When you get a parking ticket you pay the fine and no one gets hurt. But on Wall Street the rules are different. If you get caught you also pay a fine, but you also cause losses to others in the process.
Ref : http://www.bloggingstocks.com/2009/03/06/70-million-fine-paid-by-specialists-for-trading-ahead-to-their/
When you get a parking ticket you pay the fine and no one gets hurt. But on Wall Street the rules are different. If you get caught you also pay a fine, but you also cause losses to others in the process.
Generally this is how it works. You, the customer, call in an order to your specialist. The phones are answered by "runners" who are just off the trading floor. They give it to the specialist who is the one who executes the order.The specialist holds all the orders for a particular security and knows how many orders there are and at what prices they must be executed.
But a "crooked" specialist is a thief. For example, he knows that a customer wants to buy a security at $10.00. Instead of immediately buying the security for the customer, he buys it for himself first. By doing this he usually can pick up an extra point or two for himself. It should be noted that most specialists can trade for their own account.
This is what the specialists for Goldman Sachs(NYSE: GS) Executing and Clearing and SLK-Hull Derivatives (also owned by Goldman) did. Other parties in the settlement included Automated Trading Desk Specialists now owned by Citigroup Inc. (NYSE: C), ETraded Capital Markets, and Susquehanna Investment Services. Altogether these firms paid $70 million to settle claims against them.
This is what the specialists for Goldman Sachs(NYSE: GS) Executing and Clearing and SLK-Hull Derivatives (also owned by Goldman) did. Other parties in the settlement included Automated Trading Desk Specialists now owned by Citigroup Inc. (NYSE: C), ETraded Capital Markets, and Susquehanna Investment Services. Altogether these firms paid $70 million to settle claims against them.
Let;s hope that this small ($70 million is chump change on Wall Street) payment slows down the practice of "trading ahead of your customers."
What are your feelings on this practice?
Vatsil's Blog: After all the effort, Finally my first blog
from blog.vatsil.com
Ref : http://blog.vatsil.com/2007/09/after-all-effort-finally-my-first-blog.html
Ref : http://blog.vatsil.com/2007/09/after-all-effort-finally-my-first-blog.html
It took me one whole day to set this screen up and post this blog. I wanted to blog since last semester, after Mr.Kiruba Shankar, who had come to my college (NIT Calicut, where I'm dong my final year B.Tech. in CSE), for FOSS.NITC, '07, explained how blogs can be useful. Not many but a single huge hurdle stood midway - one I have never crossed without someone poking me from the back with a needle. Well, I don't have to mention, do I? I was lazy.
It was summer and I was at home changing tv channels on my remote. My dad was around and all of a sudden, he asked me about what I think of the nuclear deal (that, I feel, should be vehemently opposed). Be as it may, I took some time to get my head to the question, before which he started to speak again. He was more casual this time. He asked with a smile on his face, if I know what NRIs in America say about the left opposing the "deal". I didn't know but I was amused already. I just knew these guys (atleast a majority of them) say complete nonsense. My dad, then told me that they are asking the communists in India to flee to China and let India grow. Thats it. Both of us started laughing. It was uncontrollable. I wonder if it was interesting or funny, to think if these guys actually fled from India, (from participating in its government, democracy), intending to enable its prosperity. It was surely funny. In some minutes, when we were regaining balance, he went on to say that they (NRIs), in emails to media or to family and friends and on the web, are actually making a strong movement. He continued laughing but I felt something other than amusement then.
"The web is not confined to them, Appa. Infact, even we need to seriously start making efforts to express ourselves through the web. Its effective and now, its important that we do it. Its not all that difficult. We can have our own websites. Or, we don't have to do all that, we just have to start blogging."
"Blogs, yeah."
I smiled as if I won something. It lasted only till he said, "You have one, right?"
I didn't need a needle after that. So here I am.
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