The Kensington Review

Week of 19 October 2009

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This Week's Commentary: Volume VIII, Number 33
Billionaire Busted for Insider Trading -- Raj Rajaratnam is a billionaire who manages a hedge fund called Galleon. He and five others have been charged with insider trading, and from the looks of things, there are tape recordings of the group conspiring to break securities laws. The SEC claims their shenanigans netted them around $25 million. One would think that a billionaire would have more brains than to run the risk of jail time for such a sum. Of course, greed is a leading cause of stupidity. [October 19]

Karzai Agrees to Run Off for Afghan Presidency -- Hamid Karzai has bowed to international pressure and accepted that he was not properly re-elected President of Afghanistan. Indeed, the fraud on his behalf may have been one in every three votes. He now accepts that he didn't surpass the 50% threshold for victory, and he has agreed to a run off against his nearest challenger, former foreign minister Abdullah Abdullah. Unfortunately, the damage to any pretense of democracy in Afghanistan has been done, and a long period of instability is in the future regardless of what Afghans or foreigners do. [October 21]

Democrats Moving Both Directions on Financial Regulation -- For those old enough to remember the Rex Harrison version of the film "Doctor Doolittle," the Democrats in Congress are starting to look like the "Push-Me Pull-You" beast on matters of financial regulation. For those who can only recall the Eddie Murphy remake, said animal was a llama of sorts with a head at either end. Quite how it cleared its bowels was not explained but it could explain why the Dems are full of something on these regulations. [October 22]

World's Longest Golf Course Opens in Australia -- Golf has a few truly sacred sites: the Old Course at St. Andrews, Augusta, Pebble Beach. However, the Australians have just opened the longest golf course ever. Despite being a rather standard par 72 for its 18 holes, the Nullarbor Links cover 1,365 kilometers, Or around 850 miles as Americans measure these things. The course lies in three different time zones. How can it be so long? Simply put, the holes are a good hour's drive apart, or more. It costs about A$200 a round for gasoline. [October 23]

Copyright 2009 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.

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