Control thoughts and you control reality

Or at least, that is what the SEC must be hoping. From Macro Man…..

At the same time, we have news that the SEC is looking at policing market rumours, particularly those surrounding the financials. Something tells Macro Man that this will be a one-way street; anyone suggesting that, for example, PIMCO and SAC have pulled Lehman’s line will face reprisals, but anyone suggesting that Warren Buffett is going to buy Lehman for $100 per share will remain unscathed. The UK has a head start on this particular slippery slope, with the FSA pursuing banking sector rumour-mongers and imposing farcically low disclosure thresholds for short interest in banks doing rights issues.

It’s all vaguely 1984-ish to Macro Man. If you use inappropriate language about a bank, they’ll do you. If you sell the wrong bank short, they’ll do you. If you wonder aloud on possible forthcoming bad news about a bank, they’ll do you. Perhaps sellside analysts should just cut to the chase and rate every financial out there with a “Doubleplusgood” rating. Who knew that MiFID stood for the “Ministry of Financial Information Dissemination.”?

Take New York City if you must, but please don't hurt our computers

From World Net Daily….

“Several potential adversaries have the capability to attack the United States with a high-altitude nuclear weapon-generated electromagnetic pulse, and others appear to be pursuing efforts to obtain that capability,” said Graham. “A determined adversary can achieve an EMP attack capability without having a high level of sophistication. For example, an adversary would not have to have long-range ballistic missiles to conduct an EMP attack against the United States. Such an attack could be launched from a freighter off the U.S. coast using a short- or medium-range missile to loft a nuclear warhead to high altitude. Terrorists sponsored by a rogue state could attempt to execute such an attack without revealing the identity of the perpetrators. Iran, the world’s leading sponsor of international terrorism, has practiced launching a mobile ballistic missile from a vessel in the Caspian Sea. Iran has also tested high-altitude explosions of the Shahab-III, a test mode consistent with EMP attack, and described the tests as successful. Iranian military writings explicitly discuss a nuclear EMP attack that would gravely harm the United States. While the commission does not know the intention of Iran in conducting these activities, we are disturbed by the capability that emerges when we connect the dots.”

I will take Global Warming over living with this…..

From Spiegel….

While safety agencies in France are playing down the risk to public health from Tuesday’s uranium leak at the Tricastin nuclear plant, water-usage bans have worried skeptical residents and environmental organizations.

Following Tuesday’s accidental leak of over 30,000 liters (7,925 gallons) of a solution containing uranium in southern France, nuclear safety agencies are minimizing the possible danger. But emergency bans put on water use in the area by local authorities have worried residents and environmental organizations at a time when much of Europe is re-embracing nuclear power as way to slow global warming.

Don't Go To New Jersey

This would just be silly if it were not for real…..

Caught speeding in Highland Park in April in his father’s Acura RSX, Ryan Narciso found out the hard way about a recent change in a New Jersey gun law that could send him to prison for three years.

The 20-year-old sales clerk at a shop at Menlo Park Mall and former Middlesex County College student had a pellet handgun in the car, according to an indictment filed last week in Superior Court, New Brunswick.

The gun, a Gamo P-23, was sitting under the rear window of the 2004 coupe. Looking like a larger-caliber handgun, the firearm drew a quick response from the bicycle-patrol officer who stopped Narciso for doing 40 mph in a 25-mph zone. With gun drawn, the officer arrested him.

Narciso’s father, an architect, bought the pellet gun at a garage sale a few years ago to fend off squirrels that made their way into the attic of the families home on Mount Pleasant Avenue in Edison, the father and Narciso’s lawyer, Amilcar Perez of Perth Amboy, said.

Under a new state law, Narciso’s possession of the weapon qualifies as a Graves Act offense. Narciso could face what prosecutors and criminal defense attorneys call a “hard three,” meaning three years with no prospect of parole.

All this trouble because New Jersey defines an air gun as a firearm. What part of fire don’t they understand? With reasoning like this, it is only a matter a time before they start arresting people for firearm violations because they have a pocket knife in their pocket.

This Reason article has the explanation of how New Jersey defines a fire arm in the comments section.

One for the history books…..

Lots of hostages have been rescued by men in black crashing through the doors. But not many hostages have been rescued by tricking their captors into thinking there rescuers were part of the gang. From BBC….

The infiltrators then herded the 15 still-bound captives, as well as two of the rebels – including the notorious Cesar – onto the chopper.

It was only once the aircraft was airborne that the rescuers – some wearing T-shirts bearing the portrait of legendary revolutionary Ernesto “Che” Guevara – revealed their true identities.

The rebels were disarmed, stripped naked and tied up as the liberated hostages celebrated so jubilantly that, in the words of Ms Betancourt, “the helicopter nearly fell from the sky”.

The Belmont Club and SPIEGEL have more details.

Heil Canada

From the AFP….

A Canadian court has lifted a 12-year-old girl’s grounding, overturning her father’s punishment for disobeying his orders to stay off the Internet, his lawyer said Wednesday.

The girl had taken her father to Quebec Superior Court after he refused to allow her to go on a school trip for chatting on websites he tried to block, and then posting “inappropriate” pictures of herself online using a friend’s computer.

The father’s lawyer Kim Beaudoin said the disciplinary measures were for the girl’s “own protection” and is appealing the ruling.

H/T Crunchy Con

If you think Gas prices are high now….

From SPIEGEL……

This is why Riedel sees an Israeli military strike, with the US government’s consent, as the most likely attack scenario. But the consequences, according to Riedel, would not differ from those of an American attack. “An Israeli attack will be seen as a US attack. Iran will retaliate against both Israel and the US.” The consequences, says Riedel, would be fatal. “We will see a Middle East in flames.”

Nevertheless, in Israel it is no longer a matter of whether there will be a military strike, but when. It is clear that the attack would be exclusively an aerial strike. Jerusalem recently received approval from Washington for a purchase of F-22 stealth bombers. The centrifuges used to enrich uranium at the Natanz nuclear facility are apparently the main target. According to Israeli information, the centrifuges are kept above ground and are thus easier to destroy. The reactor in Bushehr is seen as another possible target.

And the Iranian air defenses? “We know that Iran’s air defenses are not among the world’s best,” says former Mossad chief Yatom. “They can be overcome.” Nevertheless, many Israelis still hope that the Americans will do the job for them. “It could still be the case,” says Yatom, “that George W. Bush wants to guarantee himself a place in the history books with this last act.”

I have always argued that Israel could not strike Iran without US help because their plans just did not have the range. But F-22’s have a longer range then the F-16’s that Israel has used for past strikes. So if Israel takes delivery of the F-22s they may indeed be able to strike Iran themselves. But that is by no means a done deal as far as I know.