Just like when the lists of the most common passwords are published, it’s not surprising that most people take the path of least resistance when creating passwords and passcodes. As you can see, most people with an iPhone use incredibly simple lockscreen PINs such as 1111, 1234 and 5555. Of course, most people don’t really have anything interesting on their phones, but if you did want to break into someone’s phone, your chances would be pretty good.
“I am concerned about the fact that the recovery that we’re on is not producing jobs as fast as I want it to happen,” President Obama said Tuesday, amid the flood of bad economic news, including last Friday’s alarming jobs report.
Does this mean we’re about to see a bold package of ideas from…
According to JPMorgan Chase CEO Jamie Dimon, the recovery has stalled because of strict banking regulation.
I’m not making this up.
At a financial conference today, Dimon told Fed chief Ben Bernanke there’s no longer any reason to crack down on Wall Street. “Most of the bad actors are gone,” he said. “[O]ff-balance-sheet businesses are virtually obliterated, … money market funds are far more transparent” and “most very exotic derivatives are gone.”
Dimon said he worried that financial reform legislation is “holding us back at this point” from a stronger economy.
Someone should remind Dimon that a few years ago, before any stricter regulation or oversight went into effect, he and his colleagues on the Street almost eviscerated the American economy. Remember, Jamie? The Street’s antics required a giant taxpayer-funded bailout.
JPMorgan Chase and the other giant banks on Wall Street are bigger than they were before. And now they’re certain they’re too big to fail. Without far stricter regulation they have every incentive to repeat their binge.
Dimon believes most of the bad actors are gone. To the contrary, none of the truly bad actors has been prosecuted. In fact, most are making more money than ever before.
Off budget businesses obliterated? Funds more transparent? Exotic derivatives gone? Dimon still doesn’t get it. The only reason there’s been any progress at all to date is because rules have been tightened and regulators are more vigilant. But at this very moment the banks — including JPMorgan Chase — are lobbying heavily to relax the rules so they can return to their old ways.
The recovery has stalled because most Americans are still in the gravitational pull of the recession — unable and unwilling to buy enough to keep the economy going. And that’s largely because the terrible consequences of what Dimon et al did to the economy are still being felt by most Americans.
Every so often, the sensation-driven lame-stream media likes to pick on a particular dog breed as being unforgivingly vicious. For a while it was German shepherds and then it was rottweilers and for the past 20 years, it’s been pit bulls.
Super secret intelligence organizations aren’t always known for their senses of humor, but MI6 decided to hack an Al-Qaeda website and replace a bomb recipe with an Ellen Degeneres cupcake recipe. Oh, those crazy British.