By Felix Salmon
October 18, 2010

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How JP Morgan lent its clients’ money to the doomed Sigma SIV, losing them millions — NYT

Joe Miller’s private security guards detain a reporter — ADN

Somebody find me a dish with chicken gizzards, sichuan peppercorns, fish sauce, scallions, and lime — MR

A Xerox Alto sells for $30,100 on eBay — eBay

Cuomo cruising to victory in NY by simply not being Paladino. Rick Lazio wondering why that didn’t work for him — NYT

17 years later a Japanese homeowner sells condo for a third of what he paid for it — TBI

The Swedish professor, the laptop thief, and the memory stick — The Local

Stieg Larsson spent a year with Eritrean People’s Liberation Front, teaching female guerrillas about grenade launchers — Tribune

Benoit Mandelbrot, Mathematician, Dies at 85 — NYT

One company the soaring gold price doesn’t seem to have helped: Cash4Gold — Fortune

Beard Awards Will Not Distinguish Between Online and Print Journalism — NYT

4 comments so far

If I had 30K sitting around doing nothing, I might easily spring for an Alto. When I was working on my thesis, there was a room full of them (running interlisp) just around the corner from me – they were a bit old even then, but everyone was agreed that they ran the best operating system there had ever been, and that it had been downhill ever since. 20 years later, you could easily argue that it still is.

Posted by seanmatthews | Report as abusive

Andrew Cuomo has at least done something and he has been able to maintain a good image (I wonder if there is an inner Spitzer just waiting to come out?).

Rick Lazio needed to impress Upstate NY Republicans (Upstate is generally further north than Poughkeepsie for NYC people’s information). He didn’t do it when he ran against Hillary Clinton for the Senate seat. He didn’t do it this time running against a complete unknown.

I didn’t vote for Lazio in the primary because I couldn’t conceive of him governing NY in any capacity. At least Paladino has done something in the past and understands how state government impacts people on an economic level. As we regularly see in NYS government, it appears to be necessary to be a bigoted jerk to advance in the legislature, so that aspect of his personality would fit right into Albany.

NYS government needs a major shake-up. I don’t know if Cuomo has the temperament to do that. Paladino certainly has that, but I don’t know if he has the temperament to actually govern on the non-shake-up issues.

The two parties just keep giving us bad choices for state government. The Republicans need to take note of this as their hand-picked candidates are being used to wipe the floor.

Posted by ErnieD | Report as abusive

Wells Fargo invested their client’s money in both the Cheyne and Stanfield Victoria SIVs. And lost them millions. doc=In%20FDCO%2020100803B32.xml&docbase= CSLWAR3-2007-CURR

Posted by bidrec | Report as abusive

@ 5:52 above should be “And lost their clients millions.”

On the same thread as banks lending their client’s money, however, I would like to add that BP Pension North America has asserted that Northern Trust in their capacity as investment manager lent the shares that the pension fund was long to short sellers. They then used the cash collateral from the shares lent to purchase shares from those same short sellers.

Plaintiff objected to “NTI’s …lending the NTGI Trust’s securities to some of the same borrowers from whom NTI purchased securities for the Collateral Funds…” ad/73764-BP1.pdf paragraph 32

Posted by bidrec | Report as abusive
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