Two links from two weeks ago that you may or may not have seen, but I had saved to share and not gotten around to it yet.
The Yes Men sent out a hoax press release from the US Chamber of Commerce saying they had changed their position on climate change. Obviously the media was interested in this so the Yes Men rented a room at the DC Press Club and gave a fake press conference. Then it gets really awesome when a representative of the Chamber shows up and shuts down the presser. And now, they’re getting sued for it
If you saw the profits made by the big banks last quarter and wondered how they were doing it, Philip Greenspun has an answer:
Because of the Collapse of 2008 financial reforms, the big investment banks are able to borrow money from the U.S. government at 0 percent interest. Then they can turn around and buy short-term bonds that pay 2 or 3 percent annual interest. Now theyâ€™re making 2 percent on whatever they borrowed. They can use leverage to increase this number, by pledging some of the bonds that theyâ€™ve already bought as collateral on additional bonds.
It’s all so awesome, isn’t it?