667 karma · joined October 13, 2007
This seems like a blatantly false claim to me since as a Python programmer forced to use Ruby for Sketchup, I have been frustrated by the lack of first-class functions in Ruby.
https://www.bl.uk/collection-items/sanitary-report-on-hawort...
This theory breaks down if you distinguish between banker and bank as per the article.
In the short term, the crooked banker with insurance can out-compete the honest uninsured banker by making high risk loans, not caring if the loans are paid back. In the short term the crooked banker can accumulate tens or hundreds of millions of dollars and happily retire when in the long term the loans fail and the bank goes bankrupt.
The honest banker has to explain to his share holders etc. why crooked banker's bank is growing so much faster than his bank. His borrowers have to compete for houses against borrowers from crooked bank who can borrow more and therefor pay more for houses. His "under-performing" bank may become an acquisition target of crooked bank.
The requisites for this dynamic are the absence of fear of criminal prosecution and perverse incentives via excessive CEO compensation.
Noting that {F(n+1)/F(n)} is the sequence of convergents of the continued fraction expansion of φ, your stronger condition follows from Theorem 5 at https://en.wikipedia.org/wiki/Continued_fraction .
https://mathbabe.org/2011/06/24/working-with-larry-summers-p...
The generalization of this principal to other government institutions (agencies, departments, offices including even the presidency) is one of the great problems of governance of our time. You can take the remuneration discrepancy as the "0=1" conclusion of a reductio ad absurdum argument against unfettered capitalism or as an argument that resistance is futile.
http://www.gao.gov/products/GAO-15-16
A small number of taxpayers has accumulated larger IRA balances, likely by investing in assets unavailable to most investors—initially valued very low and offering disproportionately high potential investment returns if successful. Individuals who invest in these assets using certain types of IRAs can escape taxation on investment gains. For example, founders of companies who use IRAs to invest in nonpublicly traded shares of their newly formed companies can realize many millions of dollars in tax-favored gains on their investment if the company is successful. With no total limit on IRA accumulations, the government forgoes millions in tax revenue. The accumulation of these large IRA balances by a small number of investors stands in contrast to Congress's aim to prevent the tax-favored accumulation of balances exceeding what is needed for retirement.
A foreign address is still an address, which if used to perpetrate crime on a large scale, would represent a point of vulnerability for the criminals even in a somewhat lawless country. Bitcoin's role in these crimes is analogous to an alternate universe, lawless by design, where criminals can retrieve ransoms anonymously and with impunity.
http://inference-review.com/article/a-country-known-only-by-...
Your pity would be misplaced; there are horrific details. A large part of the problem is that there is a revolving door between the DOJ and the law firms that represent financial firms (likewise for the SEC). Holder was assistant AG in Clinton's DOJ, then he moved to the law firm Covington and Burling where he represented the bank UBS among other clients, now he's back at the DOJ, and soon he will likely move back to the private sector where he will be handsomely rewarded for his service to the finance industry while AG.
The big picture is that the Obama administration is to Finance as the Bush administration was to Oil, but for horrific details about Obama's economic team, read this: http://www.vice.com/en_uk/read/larry-summers-and-the-secret-... .
William Black on Moyers and Company[1]: Sure. The savings and loan debacle was one-seventieth the size of the current crisis, both in terms of losses and the amount of fraud. In that crisis, the savings and loan regulators made over 30,000 criminal referrals, and this produced over 1,000 felony convictions in cases designated as “major” by the Department of Justice. But even that understates the degree of prioritization, because we, the regulators, worked very closely with the FBI and the Justice Department to create a list of the top 100 — the 100 worst fraud schemes. They involved roughly 300 savings and loans and 600 individuals, and virtually all of those people were prosecuted. We had a 90 percent conviction rate, which is the greatest success against elite white-collar crime (in terms of prosecution) in history.
[1] http://billmoyers.com/2013/09/17/hundreds-of-wall-street-exe...
The banker blows a housing bubble, Satoshi blows a bitcoin bubble. I would concede that so far the housing bubble has done far more damage, but if bitcoin "succeeds", that could change.
>He doesn't like the system we have today and wanted a different one that would be more equal. He did not like the notion of banks and bankers getting wealthy just because they hold the keys," says Andresen.
"Four legs good, two legs bad."
>Holding the keys has also made early comers to Bitcoin wealthy beyond measure. "I made a small investment in Bitcoin and it is actually enough that I could now retire if I wanted to," Andresen says. "Overall, I've made about $800 per penny I've invested. It's insane."
"Four legs good, two legs better!"
Apparently, early adopters are "more equal than others" -- the Gini coefficient of bitcoin is near .9.
Are you saying Nathanspups is a reddit admin?
It's not reasonable; it's quite perverse -- you seem to be confusing the Nazis with the opposing parties of the time. The opposing parties were for the elimination of class differences while the Nazis where explicitly for preserving them.
From http://en.wikipedia.org/wiki/Nazism :
This involved the idea of uniting rich and poor Germans for a common national project without eliminating class differences (a concept known as "Volksgemeinschaft", or "people's community"),
Essentially, the Nazis suppressed class based anger and encouraged homicidal racism and xenophobia. The Nazis were the defenders, not the oppressors, of the wealthy.
(because your expression expands to 9 + 9(8) + 9(8)(7) + ... 9! = 9!(1+1/1 + 1/2! + ... 1/8!) = -1 + 9! e - (1/10 + 1/(10 11) + ...))