You’re Bob Dylan? Jersey cops want ID (AP) Twenty-something cops in NJ stop Bob Dylan, who was reported to be “wandering around.” They have no idea who he is and demand ID before taking him in…
Mind the gap: The problem with leveraged ETFs (Tech Ticker) Leveraged ETFs (think tickers like SDS, SKF, FAS) are very dangerous. They don’t track their index over periods longer than a day, so retail investors using them as a hedge or speculative vehicle are getting burned big time. And yet these funds keep getting marketed. Fearing future lawsuits, investment banks are increasingly backing away.
FDIC Chief says parts of regulatory plan won’t fly (AP, ht Sangellone) A good interview with Sheila Bair. She’s still quite critical about the administration’s regulatory overhaul, which would take power away from her and give it to the Fed. I agree that would be a mistake. Yes, FDIC has a blemished record. The agency has undercharged for deposit insurance for years, removing an important governor of the banking system. But recently it’s been the only Washington agency to deal with the banking crisis, actually closing failed banks. The Fed and Treasury would prefer to kick the can down the road perpetually.
UBS client to plead guilty to tax evasion (Bloomberg) I’m a big fan of the Justice Dept.’s efforts to chase down tax cheats. The government desperately needs revenue, and there’s some low-hanging fruit to be picked. My colleague Agnes has more.
Camp Sundown shines in the Bronx (ESPN) Kids with ultra-rare skin disorder who literally can’t be exposed to sunlight go to Yankee stadium and play wiffle ball with players until 3AM.
Mexican drug lord busted, cops confiscate lots of bling (thisblogrules) Tony Montana would be proud.
Laser Sound Test (YouTube) I wish there were details about how this experiment was constructed. How does the laser do that? How is the sound generated? Gets really weird and interesting after the one minute mark.
You deleted your cookies? Think again (Wired) Top websites use Flash to “re-spawn” tracking cookies that web surfers think they’ve deleted…
Monkey on porch in Downtown Atlanta (Craigslist)
Maybe you thought, remote-controlled planes are lame, yes? No longer. (The pass around the 3:20 mark is awesome.)