Berkeley CSUA MOTD:2009:March:22 Sunday <Saturday, Monday>
Berkeley CSUA MOTD
2009/3/22-23 [Uncategorized] UID:52740 Activity:nil
3/22    Keg's down again, so logins are not working at the moment. Hopefully
        we'll be operational again soon. We still have yet to transition to
        the new server.
2009/3/22 [Reference/BayArea] UID:52741 Activity:nil
3/21    Oakland PD has 4 new positions open:
2009/3/22-30 [Transportation/Car] UID:52742 Activity:nil
3/22    A good explaination of the toxic waste plan: (Economist's View)
        \- it is not clear to me there isnt some possibility of
           the treasury buying a "lemon" portfolio. to put in in
           terms of the EV article, say the govt comes in to buy
           half the cars on the lot, but the lot owner has some small
           ability to guess which are the "lemon" cars and disproportionately
           dumps those on the govt. the scenario reasonable points out the
           purpoe of the intervention is to prop up the community with
           the car dealership, rather than the car dealership itself,
           but as we know the car dealership may have an abiliy to tilt the
           govt to make other decision in it's own favor. what was good
           for <company X> might be been OK for america, but they arent
           the same ... and in some short run cases, when taking about
           certain decionsmakers it's not clear their objective function and
           social welfare outcomes would even ahve the same sign.
           \- We have now learned the words LIBOR, MORAL HAZARD and CLAWBACK.
              Here is the next word: ADVERSE SELECTION.
              \- oh, in addition to the LEMON PROBLEM, i could also see
                 a BARBARIAN AT THE GATE type scenario ... remember where
                 the people seeking to LBO a firm could hire current management
                 to advise them [how is this even legal? james suroweiki
                 has a good discussion of this, some time in the last two
                 years, i believe]. i could see a cabal of bank executives
                 put together a special purpose hedgefund to cherry-pick+
                 asset strip their firms ... sure this would have some
                 upside to the tax payers while they would massively
                 benefitting from their leveraged play, but then when the
                 companies are left with post cherry-picking LEMONS, the
                 govt will have to go out and bail them out again
                 ... at which point these executives will no doubt get
                 golden parachutes and leave. as we can see from AIG
                 ... Libby and Greenberg earlier, being a 7/8/9-digit
                 CEO doesnt mean you cant do some mean you cant do
                 some moonlighting: --psb
2009/3/22-30 [Finance/Investment] UID:52743 Activity:nil
3/22    The Big Takeover
Berkeley CSUA MOTD:2009:March:22 Sunday <Saturday, Monday>