BBC NEWS | Business | JPMorgan to acquire Bear Stearns

Following the news on Friday, the top 3 or four here must be of concern.
We will watch this week.

Subprime Losses, source BBC
Citigroup: $18bn

Merrill Lynch: $14.1bn
UBS: $13.5bn
Morgan Stanley $9.4bn
HSBC: $3.4bn
Bear Stearns: $3.2bn – Fold, into JP Morgan
Deutsche Bank: $3.2bn
Bank of America: $3bn
Barclays: $2.6bn
Royal Bank of Scotland: $2.6bn
Freddie Mac: $2bn
JP Morgan Chase: $3.2bn – Buy, Bear Stearns
Credit Suisse: $1bn
Wachovia: $1.1bn
IKB: $2.6bn
Paribas: $197m

BBC NEWS | Business | JPMorgan to acquire Bear Stearns: “JPMorgan Chase has said it is to buy Wall Street’s fifth-largest investment bank Bear Stearns for $2 a share.”

BBC NEWS | Business | Bear Stearns gets emergency funds: “US bank Bear Stearns has got emergency funding, in a move that raises fears that one of Wall Street’s biggest names is on the verge of collapsing.”

Wall Street fears for next Great Depression – Business News, Business – Independent.co.uk

So if Bear Sterns is being bailed out, where is the money coming from?

There is money being pumped into the markets this is very concerning. This is building up yet more problems in the future. At some point we are delaying the inevitable. There will be a correction, and we will see defaults on loans.

Wall Street fears for next Great Depression – Business News, Business – Independent.co.uk: “Wall Street is bracing itself for another week of roller-coaster trading after more than $300bn (£150m) was wiped off the US equity markets on Friday following the emergency funding package put together by the Federal Reserve and JPMorgan Chase to rescue Bear Stearns.

One UK economist warned that the world is now close to a 1930s-like Great Depression, while New York traders said they had never experienced such fear. The Fed’s emergency funding procedure was first used in the Depression and has rarely been used since.”

Buffett waiting for shares to get "very cheap" – Telegraph

Buffet thinks we are in a recession and there is further to fall.
Would say I agree, but what is cheap. What would the Dow Jones be at to signal this…… sub 10,000?

Buffett waiting for shares to get “very cheap” – Telegraph: “The billionaire investor, who last week published his annual letter to Berkshire shareholders, said shares are not currently cheap and he’s waiting for them to become ‘very cheap’.”

The case of the disappearing teaspoons: longitudinal cohort study of the displacement of teaspoons in an Australian research institute — Lim et al. 3

Great article, that looks at this like a scientific problem….. where do all those teaspoons go. I love the idea of a halflife for teaspoons.

“The case of the disappearing teaspoons: longitudinal cohort study of the displacement of teaspoons in an Australian research institute”
The case of the disappearing teaspoons: longitudinal cohort study of the displacement of teaspoons in an Australian research institute — Lim et al. 331 (7531): 1498 — BMJ:

Manchester Music

On Indie Music, I was taken back and having fun remembering Manchester Music from the 80’s, here are some links and bands etc (have copied in some of the good text below)

http://en.wikipedia.org/wiki/Indie_music_scenes#English_indie_scenes

Bands, remember these names
Bands that have emerged from the Manchester music scene include the Buzzcocks, The Fall, Joy Division and its successor group New Order, Happy Mondays, The Charlatans, Inspiral Carpets, James, The Stone Roses, and Oasis. The Chemical Brothers, although from southern England, formed in Manchester. Ex-Stone Roses frontman Ian Brown and ex-Smiths Morrissey continue successful solo careers. Other Greater Manchester natives include Richard Ashcroft and Jay Kay of Jamiroquai. (wikipedia, I remember the names though)

Also The Smiths, Cure, Cult, The Wedding Present (see to remember were big), House of Love, Spear of Destiny

English indie scenes


Solar Pictures

These are a couple of photos from the ESA SOHO probe, website.
I thought that they were an incredible demonstration of the power of the sun, a huge seething ball of nuclear energy constantly reacting, and so hot we feel it strongly millions of mile away.

Really impressive.

Posted by Picasa

The funny thing about greenhouse gases

Not sure if there is much funny about the situation at the moment. It really does seem like the summers are getting warmer, wetter and the winters milder.

However there was an interesting story the other day on the BBC website about ice cores from the Antarcica.
Deep ice tells long climate story Appears CO2 is at the highest level for the last 800,000 years.

Now 800,000 years ago we were running around without a care in the world for mobile phones or who won survivvor (it was the real survivor I suppose).
But even 800,000 year ago it is still recent compared to the age of the dinosaurs (160 million years ago, big cold blooded animals, needing a warm climate). As you know they seemed to become extinct all of a sudden around 60 million years ago.
Logic is this. Now if oil is a bi-product of organic matter and all the oil seems to sit in massive underground reserves, in one location, could this be related to this very extinction event?

Now wouldn’t it be ironic if by burning fossil fuels, we could be simply returning the Carbon Dioxide from the past, back into the atmosphere once again. One big circle.

Still not good for humanity and the end of the world as we know it, but a big circle all the same. Funny that.

9 Great Alternatives to Skype for VoIP and Video Chat — Online Collaboration

Skype is becoming ever more important for me and communication.  Here are some alternatives I found.  I liked the idea of having via a webpage.

While there’s probably no one service that provides a feature-for-feature replacement for Skype, there are plenty that offer great VoIP and video calling services, some of which are even better than Skype’s. Here is a list

via 9 Great Alternatives to Skype for VoIP and Video Chat — Online Collaboration.