Daily Archives: June 13, 2012

Jamie Dimon Wasting Time In Front Of Senate Banking Committee

Today’s event of the day in the business and financial world was certainly JP Morgan’s Jamie Dimon reporting in D.C. to the Senate Banking Committee. A lot of people have probably expected something special coming out of this hearing. Watching and listening to it, from my view, the hearing was for the most part a waste of time. While the committee has the need to demonstrate that they do something, the hearing didn’t really bring this over. It is obvious that many people on this committee actually don’t even understand what this is about and what is discussed, and much more, what Dimon says in his response.

From Dimon’s view, it must be a waste of time. He has to run the biggest bank around and has a schedule that stretches over months. Understandable that at some point in this hearing he was annoyed and bored. It sure is difficult to keep quite when listening to lawmakers that read their questions from paper, word by word. Respect Jamie Dimon, for staying cool.

What do we take from this? In my opinion, the most remarkable statement Dimon made, was the one when he agreed that we need strong regulation and not more regulation. With that statement he stepped on the toes of both parties. Jamie Dimon stated that we have missed out to fix a few holes over time. If this will put a different light on the regulation discussion has to be seen. Dimon’s colleagues from other banks, industry and political lobbyists will probably not like that statement and will try to twist and turn things so that it is fitting the political agenda and pocket.

While many want to undo deregulation, others want to loosen up or at least leave regulation as it is. The problem is, as the past and the newest JP Morgan case show, regulations are clearly not good enough and in some cases make no sense at all. The problem was obviously caused at the time when the financial industry was deregulated in 1999. While deregulation took place, the rules and regulations for the most part were never adjusted to the new circumstances and the new players at the table. With the political stalemate in D.C. and elections in November, it will be some time until something happens, if at all. Until then we will have to calculate in that at any time someone might gamble the house, or the country, away.

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How A Google Search Travels Around The World – Infographic

Google has put together an infographic that shows the journey of a search on the site, from how a query travels 1,500 miles at nearly the speed of light to hit different data centers around the world to how it ranks its results.

In an infographic given to Mashable, Google likens the web to a book with millions of pages. The search engine giant has spent one million computing hours building the index, which consists of over 100 million gigabytes. When you conduct a search, Google’s algorithms kick in and the query travels hundreds of millions of miles per hour to hit different data centers and retrieve relevant results.

“We find the fastest path to the data center near you because we don’t want to be slowed down by even the speed of light,” a Google spokesperson told Mashable. “1,500 miles is an average number, and it may be much less for you at certain times, depending on the traffic of the web, data center proximity and the features that are triggered.”…Read More

Source: Mashable.com, iStockphoto, gmutlu

Social Media Share – Wednesday, 06/13

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EURO 2012, Netherlands vs. Germany, take a guess on the winner – click and comment

Sitting is Killing you – Blog Post, What do you think?

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First Impressions of iOS 6

LUST & RUM

Sometimes it is not about finding a ‘bed’ for the night, sometimes it is just about closing down and leaving your reality. Sometimes your day becomes your night. Welcome to ‘The Fallen’ or ‘Sleeping with the light on’.

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