Month: January 2013

January 26, 2013 0

Atmospheric Chemistry and Physics Throws Itself Into the Trash

By News Desk

The authors are to be commended for their willingness to engage in extensive publicdiscussion of their paper.  As ER has remarked , this paper is an archetypal of a class of nonsense which attracts axe grinders, obsessives and the willing to be confused Eli has learned over the years that all sorts of strange people write the same paper, very long, very hard to follow and very wrong. These papers and their defenders play the Gallileo card early and often

January 25, 2013 0

Much More Beneath the Surface of the Italian Bank Scandal; How Big Are the Derivative Losses?

By News Desk

While pondering what Dragi knew or didn’t, let’s turn our focus on actual losses. Reuters reports Monte Paschi Shares Plunge on Derivative Loss Fears Shares in Banca Monte dei Paschi di Siena, Italy’s third-biggest lender, fell more than 5 percent for the second day in a row on Wednesday on worries of mounting losses on some financial derivative positions which it took in 2008 and 2009

January 25, 2013 0

Much More Beneath the Surface of the Italian Bank Scandal; How Big Are the Derivative Losses?

By News Desk

While pondering what Dragi knew or didn’t, let’s turn our focus on actual losses. Reuters reports Monte Paschi Shares Plunge on Derivative Loss Fears Shares in Banca Monte dei Paschi di Siena, Italy’s third-biggest lender, fell more than 5 percent for the second day in a row on Wednesday on worries of mounting losses on some financial derivative positions which it took in 2008 and 2009

January 25, 2013 0

Italian PM Under Fire; Italy’s 3rd Largest Bank Hid Derivative Losses: ECB Says "Matter for the Italian Authorities" (To Sweep Under the…

By News Desk

Italian PM Under Fire; Italy’s 3rd Largest Bank Hid Derivative Losses: ECB Says "Matter for the Italian Authorities" (To Sweep Under the Rug) When Mario Draghi (now ECB President), had oversight of the Italian bank system as Bank of Italy Governor, the Italian bank Monte dei Paschi di Siena (Italy’s third largest bank) hid information on the derivatives transactions between 2006 and 2009. This information is just now out, and shares of the bank have plunged 22% in a few days