asterisk2a + synthetic   6

Why Bio is the New Digital - Joi Ito keynote - YouTube
biotech advances are faster than Moore's Law. / future is to make a brain/cell like computer & storage, turns out bio is much better than silicon!
Genome  sequencing  biotechnologie  biotechnology  biology  Silicon  Valley  medical  research  medical  advances  Moore's  Law  technological  history  technological  progress  economics  of  abundance  marginal  cost  material  design  industrial  design  synthetic  biology  computational  design 
july 2015 by asterisk2a
JPMorgan’s $2 Billion Trading Loss: Video - Bloomberg
May 10 (Bloomberg) -- JPMorgan Chase & Co. said it lost about $2 billion tied to synthetic credit securities after positions taken by its chief investment office were riskier than expected. Bloomberg’s Erik Schatzker and Pimm Fox report on Bloomberg Television’s “Taking Stock.” (Source: Bloomberg)

Erik Schatzker explaining the insides how JPM works, and how it came to the loss.

- And there it is again: Synthetic !!!

- Diamon cited "egregious mistake, ... errors ... sloppiness " as cause of this loss.

- Q: Governance anyone?

http://www.zerohedge.com/news/20-second-summary-what-just-happened
http://www.zerohedge.com/news/worlds-largest-prop-trading-desk-just-went-bust
http://www.zerohedge.com/news/jpm-crashing-after-it-convenes-emergency-call-advise-significant-mark-market-losses
http://www.zerohedge.com/news/bruno-iksil-dunzo
transparency  governance  proptrading  synthetic  instrument  JamieDimon  banking  jpmorganchase 
may 2012 by asterisk2a
Selling fire insurance to arsonists | Richard Adams | Comment is free | guardian.co.uk
So what is at stake? According to the SEC's filing [pdf], it charges fraud against Goldman Sachs and one of its employees, Fabrice Tourre, "for making materially misleading statements and omissions in connection with a synthetic collateralized debt obligation ("CDO") GS&Co structured and marketed to investors". The alleged fraud was two-fold. First, that the bank allowed "a significant role" in shaping the CDO's portfolio to be made by a hedge fund, Paulson & Co. The Paulson hedge fund planned to bet against the success of the CDO's underlying assets, and Goldman Sachs knew this and failed to disclose it to the institutions that eventually invested in the CDO. Second, that Tourre went further and misled a key investor – named ACA Management– to believe that the Paulson hedge fund was also investing in the CDO, when in fact the hedge fund was doing the opposite: betting against its success.
SEC  goldmansachs  CDO  synthetic  2010  april  fraud  short-selling 
april 2010 by asterisk2a

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