$9trillion in emergency overnight loans made during the crisis source
» Whoa! Did your heart just stop? Ours did too. It actually created a short delay in posting this. *whew* Now that we’ve caught our breath, let us explain. After Bear Stearns went under in early 2008, a special plan was put in place to offer emergency, quickly-paid-back loans to banks during the financial crisis to ensure they continued to run smoothly. All loans required collateral, all were low-interest, and all have already been paid back. The program also ended in May of last year, so no worries about any residual effects. But yeah. Have you ever seen $9 trillion? It would probably require dozens of Scrooge McDuck’s money vaults.
93kthe growth in private-sector employment last month (nice!)
03/07the last time job growth was that high in a single month (pre-recession)
tenconsecutive months of private-sector job growth source
» Not all rosy: The above tally, by payroll processor ADP, is definitely positive, but separate data by outplacement firm Challenger, Gray & Christmas says that employers were looking to cut jobs, too – at a rate of 48,711 last month, the highest level in six months. Gotta love contradictory data, but the firms tend to focus on different part of the employment life process.
At the moment, for example, we are sitting on 5GB from Bank of America, one of the executive’s hard drive. Now how do we present that? It’s a difficult problem. … To have impact, it needs to be easy for people to dive in and search it and get something out of it.
Wikileaks’ Julian Assange • Explaining how they leak material to the press, but dropping the fact that they have a bunch of stuff from Bank of America ready to leak. This was completely ignored by the press (and even we didn’t make much of it when we posted about it a few months back). But then our boy Julian talked to Forbes, people put two and two together, and all of a sudden Bank of America’s stock went down today. The difference? Assange wasn’t seen as a threat when he made this interview a year ago. Now … he’s a threat. source
This action by Comcast threatens the open Internet and is a clear abuse of the dominant control that Comcast exerts in broadband access. With this action, Comcast is preventing competing content from ever being delivered to Comcast’s subscribers at all, unless Comcast’s unilaterally determined toll is paid.
Level 3 Communications Chief Legal Officer Thomas Stortz • Expressing anger with Comcast’s added bandwidth fees on the internet middleman, which Netflix uses for its uber-popular streaming services. Whoa. Whoa. Whoa. Whoa. Did you hear that? Yeah, we think we did. That’s the sound of the FCC nailing Comcast for anticompetitive activity and killing their planned buyout of NBC because they aren’t playing fair. What? You didn’t hear it? We must have imagined it. We can dream, can’t we? source
Is Google acting anti-competitively? Does it use its search-engine prowess to favor its own services over those of competitors? Does the company’s market share (66 percent in the U.S., 80 percent in Europe) constitute a monopoly? Do sites like Foundem, eJustice.fr and Ciao (the latter owned by Microsoft) have bad luck with Google because of crappy information-thin design that completely wastes your time and has little relevance (which we’d argue with the first two) or because there are competitive issues afoot (which seems realistic with the last one)? The European Union is asking these questions themselves as part of an antitrust trial. Seems Google’s getting too big for its britches. source
Wikileaks founder Julian Assange • Discussing an upcoming “megaleak” to be released early next year. Assange is being characteristically tight-lipped about this, but he says it will expose both “the ecosystem of corruption” and “the regular decision making that turns a blind eye to and supports unethical practices.” The only precedent, he says, is the Enron emails. source