Financial Shark Feeding Frenzy

Remember that 2 billion dollars loses by JP Morgan, it is accelerating to 3 billion dollars.

This is happening because JP Morgan has to unwind its previous large position in the commercial index derivative market  and right now the other hedge funds are feasting on JP Morgan's losses.

Remember that this is a market, to unwind, they have to sell their stuff and there must be buyers. Buyers now can demand much lower prices that what JP Morgan originally purchased. There are more complicated details more than this but that's beyond my pay grade.

Lisa Pollack from the Financial Times is a really awesome journalist tracking on this financial mess.

A list of higher education technology blogs

Check it here.

The forbidden TED presentation

An uber wealthy venture capitalist argues that rich people do not create jobs, customers do Business Insider.

I can say with confidence that rich people don't create jobs, nor do businesses, large or small. What does lead to more employment is a "circle of life" like feedback loop between customers and businesses. And only consumers can set in motion this virtuous cycle of increasing demand and hiring. In this sense, an ordinary middle-class consumer is far more of a job creator than a capitalist like me.

So when businesspeople take credit for creating jobs, it's a little like squirrels taking credit for creating evolution. In fact, it's the other way around.

Anyone who's ever run a business knows that hiring more people is a capitalists course of last resort, something we do only when increasing customer demand requires it. In this sense, calling ourselves job creators isn't just inaccurate, it's disingenuous.

That's why our current policies are so upside down. When you have a tax system in which most of the exemptions and the lowest rates benefit the richest, all in the name of job creation, all that happens is that the rich get richer.

Texas Executed Innocent Man

Carlos DeLuna maintained his innocence from the moment he was arrested in 1983 for the stabbing death of a young Texas woman right up until he was executed six years later. On Monday, a Columbia University professor and a group of law students offered what appears to be definitive proof that DeLuna's mistaken-identity claims were the real deal and that an innocent man was put to death. Slate

It is bound to happen. Judicial system makes mistakes and when the penalty is as final as death penalty, there is no way to right the wrong.

The Thrilla in Manchester

Manchester City won the English Premier League in the last 5 minutes of their final game. Check out the amazing highlights from their final match against QPR here.

Dancing Dog wins Britain Got Talents

The 17-year-old and her pet beat favourites Jonathan and Charlotte to be crowned winners of the ITV reality show.

They charmed viewers with their fast-footed routine to the Mission Impossible theme.

Miss Butler, from Northampton, was in tears when presenters Ant and Dec broke the news. The Telegraph

This is the semi-final footage

Naked Protests

The hearing at the Interior Ministry is at 5 p.m., and they are in a hurry. They walk past tall, brown and gray buildings from the Stalin era. They discuss ways to put a positive spin on the expression "kiss my ass," which is what Oksana said to the Indian ambassador. "It was a happy protest. A happy protest for the rights of Ukrainian women," Oksana finally says. She's decided it's what she will say in the hearing at the Interior Ministry.

Shachko is a Ukrainian women's rights activist, and her weapons are attached to her pale, petite body like the two halves of an apple.

Her weapons are the symbol of femininity, motherhood and sexuality, and filmmakers and marketers have used them millions of times to sell everything under the sun, from yogurt to vacuum cleaners. They have put Oksana and her fight onto cover pages around the world, and they've made her and her fellow activists into the cover girls of an international protest movement -- the icons of a naked rebellion.

Spiegel

A Dummy Guide to JP Morgan Financial Debacle

So. You are JPMorgan. People come to you and give you money, because you are a bank, and they want you to hold on to their money for them. You pay them interest so you need to invest their money to earn interest – ideally you earn more than you pay so you can make money and pay bonuses and stuff. You invest that money, broadly speaking, by lending it to other people who want to do things with it. Some of those people are buying houses, some of them are running businesses. Those are the main ones. (Some are buying cars, or educations; others are running countries, or municipalities. Ignore that.) dealbreaker

Follow the link for the clearest explanation on what's going on with JP Morgan 2 billion dollars (and rising) trade debacle. It tells you what CIO does (Chief Investment Office), etc.