France also in danger of losing AAA rating

By -

French markets were under attack late last week. Amid speculation that France too may lose its AAA rating, a panic-gripped day of trading saw the week close with the country's 3rd biggest bank Société Générale down 15%.

More:
http://www.economist.com/blogs/freeexchange/2011/08/french-fears

Comments

Post a Comment

Popular this week

An open letter to CNN on their reporting on the #YolandaPH disaster in the Philippines

By -
Image
This "open letter" was found making the rounds on social media: * * * Dear Sirs: I just wanted to make some comments on the reporting of the CNN International crew here in Manila, regarding the relief efforts for the victims of super-typhoon Haiyan (which we locally call typhoon Yolanda). First, full disclosure: I am a retired Filipino executive and computer person. I was born in the Philippines and spent all my life here (save for some very short overseas stints connected with my career). I have worked with a large local Philippine utility, started up several entrepreneurial offshore software service companies (when outsourcing was not yet in vogue), and also served as the Philippine country head for a multi-billion dollar Japanese computer company. This diverse work background allows me to always see both the local and global point of view, and to see things from the very different standpoints of a third-world citizen, and a person familiar with first-world mind...
Read more

Reporters Karen Lema and Manuel Mogato of @Reuters LIED about the Duterte "Hitler" quote

By -
Image
The oh-so-noble journalists are at it again, this time, with Duterte’s Hitler comment. I am no Duterte fanatic. I criticize him more scathingly than anyone when his mouth is out of line. But this time, Duterte really didn’t say anything wrong. The real culprits behind the fuss over his Hitler comment are Karen Lema and Manuel Mogato, two Filipino reporters of the Reuters news agency, who wrote this article: “ Philippines’ Duterte likens himself to Hitler, wants to kill millions of drug addicts ”. Lema and Mogato are Filipinos. There’s no way they could have misunderstood what Duterte really meant in his speech. I watched the video and this is what the President said: “Hitler massacred 3 million Jews. There are 3 million drug addicts. I’d be happy to slaughter them. At least, if Germany had Hitler, the Philippines would have ….. my victims, all criminals, to finish a problem of my country, and save the next generation.” (See for yourself here . The Hitler part is at 14:40....
Read more

Day 2: Senate hearing backfires against a rattled Senator Leila de Lima!

By -
Image
Just watched Day 2 of Senate hearing. Tables were turned once again on De Lima, without any effort it seems from the PNP or Duterte's senate allies. This must really be karma at work, or Duterte's magic is really strong. De Lima opened the session by saying she had asked ABS-CBN, Inquirer, and GMA 7 to submit their "kill list" databases and methodology for compiling the lists. However, only GMA 7 submitted. Strange. If those lists were being prepared properly, shouldn't these media groups have their databases and methodology on hand at any time? Or were those lists haphazardly done? Sandra Cam showed up in the middle of the hearing and sat directly behind De Lima. But Cam disappeared after a while, so viewers were not treated to scratching and hair-pulling. A group of women wearing dark glasses, masks, and headscarfs sat in a row on one area–I don't know why De Lima made them dress like jihadist terrorists, but they were her witnesses. (No offense mean...
Read more

Filipinos "nice" but lacking in common sense -- IT business manager

By -
Image
As someone whom invested heavily in the Philippines managing an IT company, I view your assumptions as narrow minded. I’ve given hundreds of Pinoys IQ tests as part of the selection process, the vast majority of these IT graduates ( the cream of the crap ) performed dismally. After two years operating we decided to close up and retain Singaporean Chinese staff and Brazilians. One staff member does the work of approximately 10 Pinoys. The biggest issue was a sheer lack of common sense, they can do black and white but seldom grey. Higher order thinking skills and abstract reasoning skills seemed to me missing, as they would perhaps with someone diagnosed with mild Asperger syndrome. As people I found them nice, but rarely kind. Big difference there, anyone can smile. ---------------------- This is a GRP Featured Comment. Join the discussion !
Read more