My bill will bring 100 percent transparency to our financial markets, prevent future bailouts and, most importantly, protect Main Street.

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&#8220-Senator Blanche Lincoln of Arkansas, the Democratic chairwoman of the Senate Agriculture Committee, is expected to introduce derivatives legislation on Friday that is far stricter for banks than Wall Street had anticipated.&#8220-

Michael Lewis on CBS 60 Minutes: How the capitalism was almost destroyed by the capitalists in the Fall of 2008 – [VIDEO]

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Part 2:


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Felix Salmon review of Michael Lewis&#8217-s book, &#8220-The Big Short&#8221-.

The Euro will fall to $1 within a year. – [PREDICTION]

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A bunch of hedge funds are betting against the Euro.

Via Joe Weisenthal

Rejection of the patent claims involving a method of hedging risks in commodities trading

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Wikipedia:

The applicants (Bernard L. Bilski and Rand Warsaw) filed a patent application (on 10 April 1997) for a method of hedging risks in commodities trading. Such patent claims are often termed business method claims. […] Bilski&#8217-s method claim was patent-ineligible because it did not “transform any article to a different state or thing.” […]

It has been widely reported that the Bilski decision will call into question the validity of many already issued business method patents. […]

Read the whole thing.

Via our Jason Ruspini

The United States and the European governments will default on their debt, eventually – dixit Marc Faber. [PREDICTIONS]

Singapore is the safest.

2:15 into


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Via Joe Weisenthal