Greece Was Betting Against Itself

Aside from the fact that they exist in the unregulated dark realm of the derivative securities market, we have just been presented with a really good example of what is wrong with the credit default swap as an instrument of constructive benefit to society.

In this way, the use of the credit default swap was analogous to taking out life insurance on one’s suicidal spouse, then leaving loaded guns all over the house.

The Biggest Greek CDS Speculator Has Been Uncovered – Culprit Is… Greek State-Controlled Hellenic Post Bank! | zero hedge.

Microsoft Copies Twitter; Retreats into Jungle then Begins Quoting T.S. Eliot

“We are the hollow men

We are the stuffed men

Leaning together

Headpiece filled with straw. Alas!

Our dried voices, when

We whisper together

Are quiet and meaningless

As wind in dry grass

Or rats’ feet over broken glass

In our dry cellar

Shape without form, shade without colour,

Paralysed force, gesture without motion;”

Microsoft mentioned OfficeTalk in a March 19 posting on the Office Labs blog, calling it a vehicle that “applies the base capabilities of microblogging to a business environment, enabling employees to post their thoughts, activities, and …

… and, well, you get the idea.

via Microsoft privately testing a ‘Twitter for business’ service | All about Microsoft | ZDNet.com.