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Monday, January 31, 2011

Is this the supermarket of the future?

Dune buggy - Competition de quad enduropale 2011

Michelle Branch & Santana - I'm Feeling You




Sometimes, I imagine the world without you
But most times, I’m just so happy that I ever found you
It’s a complicated web, that you weave inside my head
So much pleasure with such pain
Hope we always, always stay the same

I’m feelin’ the way you cross my mind
And you save me in the nick of time
I’m ridin’ the highs, I’m diggin’ the lows
‘Cause at least I feel alive
I’ve never faced so many emotional days
But my life is good
I’m feelin’ you
I’m feelin’ you

You go, and then I can finally breathe in
‘Cause baby I know, in the end you’re never leavin’
Well we’re rarely ever sane, I drive you crazy and you do the same
But your fire fills my soul
And it warms me up like no one knows

'Cause I’m feelin’ the way you cross my mind
And you save me in the nick of time
I’m ridin’ the highs, I’m diggin’ the lows
‘Cause at least I feel alive
I’ve never faced so many emotional days
But my life is good
I’m feelin’ you
I’m feelin’ you

[guitar solo]

I’m feelin’ the way you cross my mind
And you save me in the knick of time
I’m ridin’ the highs, I’m diggin’ the lows
‘Cause at least I feel alive
I’ve never faced so many emotional days

Oh, I’m feelin’ the way you cross my mind
And you save me in the nick of time
I’m ridin’ the highs, I’m diggin’ the lows
‘Cause at least I feel alive
I’ve never faced so many emotional days
But my life is good
I'm feelin' you
I'm feelin' you
I'm feelin' you
Oh, I'm feelin' you

Oh, I’m feelin’ the way that you cross my mind
And the way that you save me in the knick of time
Oh I’m feelin’ the way when you walk on by
I feel light, I feel love, I feel butterflies
I feel butterflies

Coldplay - Violet Hill




Was a long and dark December
From the rooftops I remember
There was snow
White snow

Clearly I remember
From the windows they were watching
While we froze down below

When the future's architectured
By a carnival of idiots on show
You'd better lie low

If you love me
Won't you let me know?

Was a long and dark December
When the banks became cathedrals
And the fog
Became God

Priests clutched onto bibles
Hollowed out to fit their rifles
And the cross was held aloft
Bury me in honor
When I m dead and hit the ground
My nerves are poles thatn unfroze

If you love me
Won't you let me know?

I don't want to be a soldier
Who the captain of some sinking ship
Would stow, far below

If you love me
Why'd you let me go?

I took my love down to Violet Hill
There we sat in snow
All that time she was silent still

So if you love me
Won't you let me know?

If you love me,
Won't you let me know?

貓咪101---蘇格蘭摺耳貓

Survey chart



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  問 卷 名 稱  - 非營利組織與公關問卷調查








 






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21   請問您會想參加哪種非營利組織所舉辦的活動形式?(複選)
 



 









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25   非營利組織在做資源整合、找尋策略聯盟夥伴時,您覺得哪項是最重要的考量?(單選)
 



 





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26   請問您知道本事件(以下簡稱66事件)嗎?
 



 




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27   您認為非營利組織最常面對的危機類型是?(單選)
 



 




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28   你認為非營利組織要渡過危機,最重要的原則是?(單選)
 



 






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29   事件剛爆發時,喜憨兒基金會因而失去許多捐款,甚至產生經營上的危機,但因此喜憨兒基金會宣佈資金不足,必須關閉竹北店後,各界開始聲援,王品集團更因此而捐贈200萬元,使得此事件圓滿落幕,你覺得喜憨兒基金會能夠成功化危機為助力,最主要的原因是?(複選)
 



 








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30   請問您會把公關列為未來職涯規劃的一個考量嗎?
 



 


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31   請問您對於公關這個領域,較感興趣的部分是什麼?(至多三個)
 



 









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32   性別:
 



 


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33   就讀學校所在地:
 



 





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34   請問您一個月可支配金額是多少?
 



 





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35   宗教信仰:
 



 


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36   學院背景:
 



 









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Sunday, January 30, 2011

OMG/JK: Massive Google Fragments



This week’s episode of OMG/JK, the show I do on TechCrunch TV alongside Jason Kincaid, is all Google all the time. So just to even things out a bit, we kick things off by showing off my awesome new TikTok iPod nano wristwatch. For those who don’t remember, this is the result of the most successful Kickstarter project ever.

We then dive into the Google stuff including Eric Schmidt being replaced by Larry Page as CEO, Google’s index changes, Google Voice number porting, and the upcoming Android Honeycomb event. Watch it above.

Here are the links to some of the things we talk about:

Big Bang At Google: Larry Page To Replace Eric Schmidt As CEO On April 4
Live: Eric Schmidt And Larry Page Talk About Google’s Q4 And Their New Roles
TechCrunch Interview With Eric Schmidt, Larry Page And Sergey Brin
Schmidt: Decision Made Over The Holidays, It’s About Execution, And Larry Is Ready To Lead
Google: Spam Really Has Increased Lately. We’re Fixing That, And Content Farms Are Next
Algorithm change launched
Google Voice Number Porting Now Live (For Real This Time)
Payback: I Just Canceled AT&T By Way Of Google Voice
Google To Give A Better Taste Of Honeycomb Next Week At Press Event And On YouTube
War Maneuvers: Android Event Will Battle iPad Event For Press Love On February 2

Kevin Rose Invests In Facebook On SecondMarket

Random Episode 87 from Glenn McElhose on Vimeo.




Kevin Rose and Tim Ferriss have made a co-investment in Facebook on the secondary market. In this video clip posted this week, Rose announces that he and Ferris recently invested in Facebook “before the craziness.” We’ve embedded the video below; Rose talks about the investment just after the 34 minute mark.

We confirmed with Rose that he and Ferriss actually bought shares on secondary market SecondMarket at a $45 billion valuation. We’re told the deal was in the seven figures. The ‘craziness’ Rose is referring to is Facebook’s recent $1.5 billion funding round from Goldman Sachs and DST at a $50 billion valuation, and the possibility of an IPO for the network by April 2012.

In terms of why he invested in Facebook at this stage of the game, Rose said this of the investment: This is still early days for Facebook, the graph is starting to extend into interests and personal preferences. This is going to enable a slew of new ideas and startups — I believe Facebook is well positioning to be in the middle of it all.

Rose has been a prolific angel investor in a number of startups and high-profile companies, including Twitter, Zynga, Foursquare, Gowalla, DailyBooth, and Square. Ferriss is also an angel investor, and has made investments in Twitter, SimpleGeo, Posterous, Foodzie and a number of other startups.

While Rose and Ferriss’ investment isn’t monumental news it does show that experienced investors are betting that value of Facebook’s shares will definitely grow significantly, especially if the social network does IPO next year. And Facebook is dominating share auctions on SecondMarket. Ferriss actually spoke to PEHub early this year on investing in Facebook, saying, “I think it’ll be hard to lose on Facebook — assuming there’s not a repeat macroeconomic double dip. If things are fairly stable, I think Facebook is a very strong bet.”

Fling Introduction Video

Blair Sheppard on China Central Television Discussion of Chinese Economy - Duke on Demand -

Blair Sheppard on China Central Television Discussion of Chinese Economy - Duke on Demand -



Blair Sheppard on China Central Television Discussion of Chinese Economy

The future of cheating with Duke professor @DanAriely




The future of cheating with Duke professor @DanAriely





Dan Ariely: Cheap Dates and Carbon Cheating

SPB Mobile Shell is available

Wrapping up Davos 2011 with @jeffjarvis

WTF

Saturday, January 29, 2011

Double Speak Game: 'Extreme Makeover Interview' - Fast and Loose Episode 2 - BBC Two



Hugh Dennis' guests are grouped into pairs whilst they improvise taking part in an extreme makeover programme. The twist being that each couple must speak as one!

Forward Rewind Game: 'Indiana Jones' - Fast and Loose Episode 2 - BBC Two




Wayne Brady, Jonathan Mangum, Jessica Ransom and Humphrey Ker re-create a scene from Indiana Jones, while Hugh Dennis commands them to either 'Forward' or 'Rewind'.

Funny Interpretative Dance: 'You Can't Hurry Love' - Fast and Loose Episode 3 Preview - BBC Two




David Armand mimes the words to Phil Collins' "You Can't Hurry Love" for Humphrey Ker and Jessica Ransom to guess the song.

Who's line is it anyway : 'Transformers' & 'King Kong' - Fast and Loose Episode 3 - BBC Two





Hugh Dennis' guests Justin Edwards, Marek Larwood and Pippa Evans act out various situations whilst lying on the floor and being filmed from above.

20 Things To Do With Matzah








Macworld 2011 today







The background images are mostly actual photos of San Francisco, the Moscone Convention Center, and iPads, all digitally modified in Adobe Photoshop to look TRON-ish
The animation and sound design was produced on a MacBook Pro with Adobe Flash, Audacity, and Apple Logic Studio
The music is from the Associated Production Music royalty-free library, included in the Apple Loops for Soundtrack Pro

SONGS OF PRAISE

My Blackberry Is Not Working! - The One Ronnie, Preview - BBC One




Ronnie Corbett and Harry Enfield star in this fruity sketch from The One Ronnie, written by Dawson Bros.

HD FPV - "Hunting Hydrogen Ballons with Fireworks"





http://rcexplorer.se/files/ba11c31bb018b71fbf14995bce5af236-246.html

World Tech Update, Jan. 28, 2011

超级男高音 人类嗓音的极限

Friday, January 28, 2011

張雨生-大海



張雨生-大海




JAYWALK向雨生致敬重新演绎《大海》






楊培安-大海 完整版MV




小沈阳央视元宵晚会精彩演唱——〈大海〉




Jake Shimabukuro plays "Bohemian Rhapsody"

About this talk

Jake Shimabukuro strums monster sounds out of the tiny Hawaiian ukulele, as he plays a cover of Queen's "Bohemian Rhapsody." A sensational performance from TED2010 -- it'll send shivers down your spine.


Evelyn Glennie shows how to listen

About this talk

In this soaring demonstration, deaf percussionist Evelyn Glennie illustrates how listening to music involves much more than simply letting sound waves hit your eardrums.



I'm not quite sure whether I really want to see a snare drum at nine o'clock or so in the morning. But anyway, it's just great to see such a full theater, and really I must thank Herbie Hancock and his colleagues for such a great presentation. One of the interesting things, of course, is the combination of that raw hand on the instrument and technology, and of course what he said about listening to our young people.

Of course, my job is all about listening, and my aim, really, is to teach the world to listen. That's my only real aim in life. And it sounds quite simple, but actually it's quite a big, big job. Because you know, when you look at a piece of music -- for example, if I just open my little motorbike bag -- we have here, hopefully, a piece of music that is full of little black dots on the page. And, you know, we open it up and I read the music. So technically, I can actually read this. I will follow the instructions, the tempo markings, the dynamics. I will do exactly as I'm told. And so therefore, because time is short, if I just play you literally the first maybe two lines or so. It's very straightforward. There's nothing too difficult about the piece. But here I'm being told that the piece of music is very quick. I'm being told where to play on the drum. I'm being told which part of the stick to use. And I'm being told the dynamic. And I'm also being told that the drum is without snares. Snares on, snares off. So therefore, if I translate this piece of music, we have this idea. And so on. My career would probably last about five years.

However, what I have to do as a musician is do everything that is not on the music. Everything that there isn't time to learn from a teacher, or to talk about, even, from a teacher. But it's the things that you notice when you're not actually with your instrument that in fact become so interesting, and that you want to explore through this tiny, tiny surface of a drum. So there -- we experience the translation. Now we'll experience the interpretation. Now my career may last a little longer!

But in a way, you know, it's the same if I look at you and I see a nice bright young lady with a pink top on. I see that you're clutching a teddy bear, et cetera et cetera. So I get a basic idea as to what you might be about, what you might like, what you might do as a profession, et cetera, et cetera. However, that's just,you know, the initial idea I may have that we all get when we actually look. And we try to interpret, but actually it's so unbelievably shallow. In the same way, I look at the music, I get a basic idea, I wonder what technically might be hard, or, you know, what I want to do. Just the basic feeling.

However, that is simply not enough. And I think what Herbie said -- please listen, listen. We have to listen to ourselves, first of all. If I play, for example, holding the stick -- where literally I do not let go of the stick -- you'll experience quite a lot of shock coming up through the arm. And you feel really quite -- believe it or not -- detached from the instrument and from the stick, even though I'm actually holding the stick quite tightly. By holding it tightly, I feel strangely more detached. If I just simply let go and allow my hand, my arm, to be more of a support system, suddenly I have more dynamic with less effort. Much more. And I just feel, at last, one with the stick and one with the drum. And I'm doing far, far less.

So in the same way that I need time with this instrument, I need time with people in order to interpret them. Not just translate them, but interpret them. If, for example, I play just a few bars of a piece of music for which I think of myself as a technician -- that is, someone who is basically a percussion player... and so on. If I think of myself as a musician ... and so on. There is a little bit of a difference there that is worth just -- (Applause) -- thinking about.

And I remember when I was 12 years old, and I started playing tympani and percussion, and my teacher said, "Well, how are we going to do this? You know, music is about listening." "Yes, I agree with that. So what's the problem?" And he said, "Well, how are you going to hear this? How are you going to hear that?" And I said, "Well, how do you hear it?" He said, "Well, I think I hear it through here." And I said, "Well, I think I do too -- but I also hear it through my hands, through my arms, cheekbones, my scalp, my tummy, my chest, my legs and so on."

And so we began our lessons every single time tuning drums -- in particular, the kettle drums, or tympani -- to such a narrow pitch interval, so something like ... that of a difference. Then gradually ... and gradually ... and it's amazing that when you do open your body up, and open your hand up to allow the vibration to come through, that in fact the tiny, tiny difference.. can be felt with just the tiniest part of your finger, there.

And so what we would do is that I would put my hands on the wall of the music room, and together we would listen to the sounds of the instruments, and really try to connect with those sounds far, far more broadly than simply depending on the ear. Because of course, the ear is -- I mean, subject to all sorts of things. The room we happen to be in, the amplification, the quality of the instrument, the type of sticks, et cetera, et cetera. They're all different. Same amount of weight, but different sound colors. And that's basically what we are. We're just human beings, but we all have our own little sound colors, as it were, that make up these extraordinary personalities and characters and interests and things.

And as I grew older, I then auditioned for the Royal Academy of Music in London, and they said, "Well, no, we won't accept you, because we haven't a clue, you know, of the future of a so-called 'deaf' musician." And I just couldn't quite accept that. And so therefore, I said to them, "Well, look, if you refuse -- if you refuse me through those reasons, as opposed to the ability to perform and to understand and love the art of creating sound -- then we have to think very, very hard about the people you do actually accept." And as a result -- once we got over a little hurdle, and having to audition twice -- they accepted me. And not only that -- what had happened was that it changed the whole role of the music institutions throughout the United Kingdom.

Under no circumstances were they to refuse any application whatsoever on the basis of whether someone had no arms, no legs -- they could still perhaps play a wind instrument if it was supported on a stand. No circumstances at all were used to refuse any entry. And every single entry had to be listened to, experienced and then based on the musical ability -- then that person could either enter or not. So therefore, this in turn meant that there was an extremely interesting bunch of students who arrived in these various music institutions. And I have to say, many of them now in the professional orchestras throughout the world. The interesting thing about this as well, though -- (Applause) -- is quite simply that not only were people connected with sound -- which is basically all of us, and we well know that music really is our daily medicine.

I say music, but actually I mean sound. Because you know, some of the extraordinary things I've experienced as a musician, when you may have a 15-year-old lad who has got the most incredible challenges, who may not be able to control his movements, who may be deaf, who may be blind, et cetera, et cetera. Suddenly, if that young lad sits close to this instrument, and perhaps even lies underneath the marimba, and you play something that's so incredibly organ-like, almost -- I don't really have the right sticks, perhaps -- but something like this. Let me change. Something that's so unbelievably simple -- but he would be experiencing something that I wouldn't be, because I'm on top of the sound. I have the sound coming this way. He would have the sound coming through the resonators. If there were no resonators on here, we would have -- so he would have a fullness of sound that those of you in the front few rows wouldn't experience; those of you in the back few rows wouldn't experience either. Every single one of us, depending on where we're sitting, will experience this sound quite, quite differently. And of course, being the participator of the sound, and that is starting from the idea of what type of sound I want to produce -- for example, this sound.

Can you hear anything? Exactly. Because I'm not even touching it. But yet, we get the sensation of something happening. In the same way that when I see tree moves, then I imagine that tree making a rustling sound. Do you see what I mean? Whatever the eye sees, then there's always sound happening. So there's always, always that huge -- I mean, just this kaleidoscope of things to draw from.

So all of my performances are based on entirely what I experience, and not by learning a piece of music, putting on someone else's interpretation of it, buying all the CDs possible of that particular piece of music, and so on and so forth. Because that isn't giving me enough of something that is so raw and so basic, and something that I can fully experience the journey of. So it may be that, in certain halls, this dynamic may well work. It may be that in other halls, they're simply not going to experience that at all and so therefore, my level of soft, gentle playing may have to be -- do you see what I mean? So, because of this explosion in access to sound, especially through the deaf community, this has not only affected how music institutions, how schools for the deaf treat sound. And not just as a means of therapy -- although of course, being a participator of music, that definitely is the case as well. But it's meant that acousticians have had to really think about the types of halls they put together. There are so few halls in this world that actually have very good acoustics, dare I say. But by that I mean where you can absolutely do anything you imagine. The tiniest, softest, softest sound to something that is so broad, so huge, so incredible! There's always something -- it may sound good up there, may not be so good there. May be great there, but terrible up there. Maybe terrible over there, but not too bad there, et cetera, et cetera.

So to find an actual hall is incredible -- for which you can play exactly what you imagine, without it being cosmetically enhanced. And so therefore, acousticians are actually in conversation with people who are hearing impaired, and who are participators of sound. And this is quite interesting. I cannot, you know, give you any detail as far as what is actually happening with those halls, but it's just the fact that they are going to a group of people for whom so many years we've been saying, "Well, how on Earth can they experience music? You know, they're deaf." We just -- go like that, and we imagine that that's what deafness is about. Or we go like that, and we imagine that's what blindness is about. If we see someone in a wheelchair, we assume they cannot walk. It may be that they can walk three, four, five steps. That, to them, means they can walk. In a year's time, it could be two extra steps. In another year's time, three extra steps.

Those are hugely important aspects to think about. So when we do listen to each other, it's unbelievably important for us to really test our listening skills. To really use our bodies as a resonating chamber. To stop the judgment. For me, as a musician who deals with 99 percent of new music, it's very easy for me to say, "Oh yes, I like that piece. Oh no, I don't like that piece." And so on. And you know, I just find that I have to give those pieces of music real time. It may be that the chemistry isn't quite right between myself and that particular piece of music. But that doesn't mean I have the right to say it's a bad piece of music. And you know, it's just one of the great things about being a musician, is that it's so unbelievably fluid. So there are no rules, no right, no wrong, this way, that way.

If I asked you to clap -- maybe I can do this. If I can just say, "please clap." And create the sound of thunder. I'm assuming we've all experienced thunder. Now, I don't mean just the sound, I mean really listen to that thunder within yourselves. And please try to create that through your clapping. Try. Just -- please try. (Applause)

Very good! Snow. Snow. Have you ever heard snow?

Audience: No.

Evelyn Glennie: Well then, stop clapping. (Laughter) Try again. Try again. Snow.

See, you're awake.

Rain. Not bad. Not bad.

You know, the interesting thing here, though, is that I asked a group of kids not so long ago exactly the same question. Now -- great imagination, thank you very much. However, not one of you got out of your seats to think, "Right! How can I clap? OK, maybe... -- maybe I can use my jewelry to create extra sounds. Maybe I can use the other parts of my body to create extra sounds." Not a single one of you thought about clapping in a slightly different way other than sitting in your seats there and using two hands. In the same way that when we listen to music, we assume that it's all being fed through here. This is how we experience music. Of course it's not.

We experience thunder -- thunder, thunder. Think think think. Listen listen listen. Now -- what can we do with thunder? I remember my teacher. When I first started, my very first lesson, I was all prepared with sticks, ready to go. And instead of him saying, "OK, Evelyn, please. Feet slightly apart, arms at a more-or-less 90 degree angle, sticks in a more-or-less V shape, keep this amount of space here, et cetera. Please keep your back straight, et cetera et cetera et cetera." Where I was probably just going to end up absolutely rigid, frozen, and I would not be able to strike the drum, because I was thinking of so many other things. He said, "Evelyn, take this drum away for seven days, and I'll see you next week."

So, heavens! What was I to do? I no longer required the sticks, I wasn't allowed to have these sticks. I had to basically look at this particular drum, see how it was made, what these little lugs did, what the snares did. Turned it upside down, experimented with the shell, experimented with the head. Experimented with my body, experimented with jewelry, experimented with all sorts of things. And of course, I returned with all sorts of bruises and things like that -- but nevertheless, it was such an unbelievable experience, because then, where on Earth are you going to experience that in a piece of music? Where on Earth are you going to experience that in a study book? So we never, ever dealt with actual study books. So for example, one of the things that we learn when we are dealing with being a percussion player, as opposed to a musician, is basically straightforward single stroke rolls.

Like that. And then we get a little faster and a little faster and a little faster. And so on and so forth. What does this piece require? Single stroke rolls. So why can't I then do that whilst learning a piece of music? And that's exactly what he did. And interestingly, the older I became, when I became a full-time student at a so called "music institution," all of that went out of the window. We had to study from study books. And constantly, the question, well, why? Why? What is this relating to? I need to play a piece of music. "Oh, well, this will help your control!" Well, how? Why do I need to learn that? I need to relate it to a piece of music. You know. I need to say something.

Why am I practicing paradiddles? Is it just literally for control, for hand-stick control? Why am I doing that? I need to have the reason, and the reason has to be by saying something through the music. And by saying something through music, which basically is sound, we then can reach all sorts of things to all sorts of people. But I don't want to take responsibility of your emotional baggage. That's up to you, when you walk through a hall. Because that then determines what and how we listen to certain things. I may feel sorrowful, or happy, or exhilarated, or angry when I play certain pieces of music, but I'm not necessarily wanting you to feel exactly the same thing. So please, the next time you go to a concert, just allow your body to open up, allow your body to be this resonating chamber. Be aware that you're not going to experience the same thing as the performer is.

The performer is in the worst possible position for the actual sound, they're hearing the contact of the stick on the drum, or the mallet on the bit of wood, or the bow on the string, et cetera. Or the breath that's creating the sound from wind and brass. They're experiencing that rawness there. But yet they're experiencing something so unbelievably pure, which is before the sound is actually happening. Please take note of the life of the sound after the actual initial strike, or breath, is being pulled. Just experience the whole journey of that sound in the same way that I wished I'd experienced the whole journey of this particular conference, rather than just arriving last night. I hope maybe we can share one or two things as the day progresses. But thank you very much for having me! (Applause)

Inquiry Doesn't Call Crisis Systemic Fraud

Michael Hudson: Financial Crisis Inquiry Report fails to call for criminal prosecutions against Wall Street


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Bio

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971). ISLET engages in research regarding domestic and international finance, national income and balance-sheet accounting with regard to real estate, and the economic history of the ancient Near East. Michael acts as an economic advisor to governments worldwide including Iceland, Latvia and China on finance and tax law.

Transcript

PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I'm Paul Jay in Washington. And on Thursday in Washington, the Financial Crisis Inquiry Commission reported. Now joining us from Forest Hills, New York, to discuss this is Michael Hudson. Michael is a former Wall Street economist. He's now a distinguished research professor at the University of Missouri - Kansas City. And he also runs a website called Michael-Hudson.com. Thanks for joining us, Michael.

MICHAEL HUDSON, RESEARCH PROF., UMKC: Thank you very much.
JAY: So, Michael, what do you make of this, the report?
HUDSON: It's not surprising one bit and seems to put the blame on the past. It blames Alan Greenspan. He's out of the picture. It blames Ben Bernanke. He's still head of the Fed. It doesn't blame Obama's major campaign contributors for fraud. It doesn't say, throw his campaign contributors in jail because they've organized a systemic financial fraud, as explained by my UMKC colleague William Black and is explained in the leaks that have come out in the last few days about how Bear Stearns people were packaging what they in their emails said was--this is shit, how do we sell them to others? They didn't focus on what really caused the collapse, and that is companies like Bear Stearns packaging junk mortgages that they knew would go bad, selling them to their clients, insuring them through capital insurance companies like AIG, selling the insurance companies short, knowing that the frauds would get them. And then, after the defaults came on 80 percent of the fraudulent loans, they then asked for a reimbursement from the original originators, for the money back, pocketing the money, not passing it on to their clients, so their clients had to go to AIG and other companies, driving them bankrupt. They didn't say that the whole process was one of crooks and that the crooks are the major contributors to the Obama campaign, and that these guys all should be thrown in jail.
JAY: Now, just a reference--you made a reference to Bill Black, and we've interviewed him many times. So if people want to see some of the more detailed drill-in to how this all took place, you can do a search for Bill Black's name on our website and you'll find our interviews. Now, the other side of the argument will be that they were operating within the law, that if the law allowed all these shenanigans, why shouldn't they play it? So then the blame is on the lawmakers, not the shenanigan-doers.
HUDSON: This is what is wrong with the Angelides Commission. It wasn't within the law. They were breaking the law. There are laws against fraud. There are laws against deceptive reporting. There are laws against cheating people. The laws were not supported. Then, if you don't say that, then you pretend that it was all just an accident and you don't learn a thing. If you don't say that the financial sector has been criminalized, or as Black says, criminogenic, then you're not going to get to the root of things. Nobody is expecting Attorney General Holder to actually prosecute any of these people for fraud. There are civil suits where none of the investment banks, whether it's Citibank or Bank of America or the others, they all pay the penalties to the SEC or to other government agencies without admitting criminal fraud, so that the real victims, the clients, can't sue them for triple damages. The fact is that all of these things were done as a racket. The definition of the racketeering laws, the RICO laws, for triple damages say that there has to be a predicate injury. The predicate injury is in organizing the fraud systemically. And what the banks did on Wall Street, the investment bankers worked with the crooked brokers, the crooked appraisers, the crooked ratings agencies, all to put together a fraud. They should pay triple damages. What did the administration do? It bailed out the banks for the fact that it lost some money on some of the people it tried to cheat. Some of the losers couldn't pay their debts. This is like going after Las Vegas losers, bailing out Las Vegas when some of the whales come in, lose a bet, and can't pay. The government says, well, we need Las Vegas to be the root of our financial system, so of course we have to bail out the casinos over there.
JAY: So what's an example of something that qualifies as fraud, versus working within such loose regulations that you can get away with this without it being called criminal?
HUDSON: Well, let's look at the regulations. New York state has a wonderful law on the book since colonial times, the law of fraudulent conveyance (fraudulent contains the word fraud). It defines a fraudulent loan as one in which a lender makes a loan to a debtor without any understanding of how the debtor can repay the loan in the normal course of business. That makes most of the subprime mortgage loans fraudulent. There's no prosecution of this. Nobody's even brought it up.
JAY: The--that's actually fairly straightforward, that that would be criminal. Now, that's common law? Or that's a piece of legislation [inaudible]
HUDSON: That's legislation [inaudible] when the states, the colonies, joined the Union, they kept the state laws on the books. And this law, fraudulent conveyance, was cited as recently as the 1980s during the junk bond takeover movement, when companies that were targets of corporate raiders bring up this and say, wait a minute, they're loading us down with debt so that they can carve up the company, declare bankruptcy, cheat the laborers, the workers, employees out of their pensions. This is fraud. So of course it's still on the books. When you have ratings agencies giving AAA as if who would have known that the material we were given was wrong? the fact is anybody in America can go onto the website, look at any address they want in the book for property values, and they can get an estimation of the property value for any address in the country. You have people's income all--you can get your credit rating score publicly available. The credit rating agencies carefully avoided getting anybody's credit rating score, carefully avoided checking on any property. They were complicit in this crime of wilful misrepresentation. Loans were made to whole buildings on empty blocks to fictitious individuals, all--. When you make a fictitious individual name, that's fraud. I mean, that's just obvious cheating, as anyone over the last few centuries would recognize, and there have been no prosecutions at all. That is multiplied by millions of millions of times. That's why we have the financial breakdown we have today. The Angelides Commission did not go into this, nor did Mr. Obama mention this in his speech, that he's going to direct Attorney General Holder to prosecute fraud, to throw enough fraudsters in jail to make sure that this doesn't happen again. Instead, he said we have to cut payments to the real economy in order to bail out the fraudsters and give them even more, so they can make what they expected to make on the fraud.
JAY: Clearly, 'cause so much of the current deficit came from bailouts to Wall Street. Thanks very much for joining us, Michael.
HUDSON: Paul, thank you.
JAY: And thank you for joining us on The Real News Network.
End of Transcript

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