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Matters Financial |
24 November 2003
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Foreign Exchange Traders Cuffed and Booked
Some 47 people involved in the foreign exchange market were hauled off to jail in handcuffs last week. According to an Associate Press Report, the individuals worked for JP Morgan Chase, Societe Generale, UBS Warburg Dillon Read, Dresdner Kleinwort Benson and Israel Discount Bank. Practicing lawyers, officers of publicly traded companies and a former member of the Fed's Foreign Exchange committee were also arrested. The ugly secret about FX is out -- no one is regulating it.Click here to read more.
Disney May Slash Animator Jobs as Mickey Mouse Turns 75
Shortly before his death, Walt Disney said, "I only hope we don't lose sight of one thing -- that it was all started by a mouse." That mouse, Mickey by name, turned 75 last week. At the same time, the Walt Disney Company announced that it was halting work on its only current animated project "A Few Good Ghosts." It may result in 250 cartoonists losing their jobs -- a pity for more than just economic reasons.Click here to read more.
China to Get Fuel Cell Cars by GM
When a business gets something right, it is a beautiful thing. General Motors may just be onto a stroke of inspired genius in giving hydrogen-powered fuel cells cars their start in China. The plan overcomes a huge number of obstacles, and it could result in Chinese-made fuel cell cars being exported to the US before too much longer. Click here for our view.