- Sean Parker: "Little Startups Are Ridiculously OverFunded" | TechCrunch
It’s gotten so bad that, says Parker, "Now institutionally-backed venture funds are backing other venture funds in order to stay close to the dealflow." (Hmm, sounds familiar). "And it will end very badly," pipes in VC Jim Breyer, who is also onstage with Parker.
- Chinese TV Host Says Regime Nearly Bankrupt | Business & Economy | China | Epoch Times
China’s economy has a reputation for being strong and prosperous, but according to a well-known Chinese television personality the country’s Gross Domestic Product is going in reverse.
- Android fragmentation? It’s Amazon, not handsets, that’s the problem | Technology | guardian.co.uk
However, in all this there is a far more sinister problem than just having a lot of versions out there in the field. Android is a mix of stuff that is open, and stuff that Google retains ownership of in order to keep some control over the platform. When Amazon recently announced the Kindle Fire it didn’t mention Google or Android. That’s because this isn’t an "Android compatible" device. Importantly it’s missing a link back into the Google-managed Android back-end services infrastructure, which Android device makers achieve by licensing the Google Android Market app. (This FAQ has more information on this.) You will be able to download apps for Fire from Amazon’s own Amazon Appstore for Android, but because this Amazon Appstore will not link into Google’s back-end services, this will limit the features available to the developer and this is the real fragmentation issue.
- Sovereign CDS soar for big eurozone countries – FT.com
The cost to insure eurozone debt against default soared to record highs for most of the leading economies amid growing fears over the single currency. The jump in credit default swap prices on Tuesday came as the extra cost to swap euros for dollars jumped to highs last seen in December 2008 when many markets had seized up in the wake of the collapse of Lehman Brothers.
- ‘300.000 subprime hypotheken zijn groot gevaar’ | huizenmarkt-zeepbel.nl
Net als in de VS zijn er in Nederland veel hypotheken verstrekt aan mensen die dat eigenlijk niet konden dragen. Dat gaat voor grote problemen zorgen. Dat zegt Tonko Gast, directeur van DynamicCredit na zijn verhoord voor de Commissie de Wit tegen Het Financieele Dagblad. Volgens hem dreigen de komende jaren honderdduizenden gezinen in problemen te rakeen als hun huidige, gunstige, hypotheekrente afloopt en ze daarbij te maken krijgen met de gevolgen van allerlei bezuinigingen.
- La resaca del consumo también castiga a Grecia · ELPAÍS.com
El tipo de cambio con el euro fijado para el dracma impulsó la demanda – La economía griega perdió competitividad desde que entró en la moneda única
- "Käuflich, gefährlich, amerikanisch": EU-Kommission knöpft sich Ratingagenturen vor – Nachrichten Wirtschaft – WELT ONLINE
Spätestens seit der Panne von S&P bei der Herabstufung Frankreichs will Brüssel die Ratingagenturen scharf regulieren. Durch Konkurrenz und Transparenz.
- Eurozone crisis: countries may be ‘pushed out’ of single currency | Business | The Guardian
Debt crisis intensifies as the Netherlands and France come under pressure from rising cost of borrowing
- The Center of the Universe » Trading Desk reports "mayhem" in the AAA Eurozone markets
I just received this. Seems money managers with fiduciary responsibility are holding off on buying any euro member securities since the 50% Greek haircuts were announced.
- Gingrich Said Paid by Freddie Mac to Win Allies – Bloomberg
Republican presidential candidate Newt Gingrich said during a Nov. 9 debate that he earned a $300,000 fee to advise Freddie Mac as a "historian" who warned that the mortgage company’s business model was "insane." Former Freddie Mac officials familiar with the consulting work Gingrich was hired to perform for the company in 2006 tell a different story.
Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.