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The Volokh Conspiracy - Paulson, BOA, and Wells Fargo: - http://volokh.com/posts...
Karoli, Aron Michalski, Andrew and 8 other people liked this
"His displeasure leaked to the public, but what hasn't been reported is exactly how Paulson flipped the seasoned banker so quickly. In what an observer in the room describes as a "true Godfather moment," Paulson told all the assembled bankers, "Your regulator is sitting right there" - actually the industry's two biggest overlords were in attendance: John Dugan, comptroller of the currency, and FDIC chairwoman Sheila Bair - "and you're going to get a call tomorrow telling you you're undercapitalized and that you won't be able to raise money in the private markets." For Kovacevich this broadside was the horse's head on his pillow. He and his bank were in an unfamiliar position of vulnerability. Wells had just agreed to buy Wachovia, a bank it had coveted for years, and it needed the government's approval - and, critically, the ability to raise money - to complete the deal. Reflecting on the episode with righteous indignation, Kovacevich points out that each of his warnings to Paulson was later validated. Ye"
- Paul Buchheit
from Bookmarklet
Amazing story. I always wondered why BofA bought Merrill.
- Robert Scoble
WOW, What can you say to something like this? The way these people act... well it's really insane.
- Roger
Fascinating stuff. It was easy to blame the bank executives back in the autumn when this was unfolding. I am happy to see Washington take their share of public scorn.
- Jesper Joergensen
[ABC]: AIG Warned of 'Crisis' if Government Didn't Help - http://x.techwheat.com/3GE
tim, Sean McBride, Antoine Bertier and 2 other people liked this
"An AIG report to the Treasury Department last month warned that if the government didn't come to its rescue again, its collapse would trigger a "chain reaction of enormous proportion" that would "potentially bankrupt or bring down the entire system" and make it impossible for AIG to repay the billions it already owed the U.S. government. "
- newsjunk.com
This has the ring of extortion -- almost terrorism. And we really don't seem to have any idea where all this money is going. Some of these shady financial services are beginning to resemble organized crime ops. Perhaps they ARE organized crime ops.
- Sean McBride
selling insurance you can't back up is the ultimate fraud, they should go to jail.
- Bjorn Stromberg
Any comments on this bit about XMPP and scaling issues? http://blog.twitter.com/2008...
duckamuk, Daniel E. Renfer, Robert Couture and 6 other people liked this
If you haven't already looked at it I suggest you look at http://en.wikipedia.org/wiki... then look under the heading 'Weaknesses'. My own thought is that evil minded people could use it for launching a ddos attack against the Twitter servers, that is if they haven't done that already.
- James Robertson
James, the way I read that Wikipedia entry, it seems that scalability currently is only a concern in multi-user chat. IANAE, but I don't think that's relevant to Twitter's use of XMPP -- they run a bot. Thoughts?
- Dan MacTough
Dan, They might only run a bot however all the traffic goes to Twitter's servers. I don't have the numbers but that could require a lot of data bandwidth which should really not be their concern. Basically they need to offload that service to something like Amazon's Elastic cloud.
- James Robertson
So it's a Twitter architecture issue, not an XMPP scalability limitation. Right?
- Dan MacTough
Right, although I doubt XMPP was originally designed to be used how Twitter want to use it. Which means XMPP gets the job done but it's probably not the most efficient protocol to use. However with the increased bandwidth capacity over the next 5 years this is going to be less of an issue.
- James Robertson
The people on Twitter are still more diverse and (imho) interesting than those on FriendFeed. Twitter seems brighter.
deceth, Mrinal Desai, Ron Emrick and 39 other people liked this
I don't agree with you Dave. The people here are earlier adopters and are people who want to have great conversations, rather than just push messages at people.
- Robert Scoble
I think Dave and Robert are both right! On FF we get more into discussions, even if sometimes hairballs are flying all other the place! lol But still there are many Social Media and SEO professionals who have not come to FF yet and hanging out on Twitter.
- Igor The Troll יִצְחָק
I think comparing friend feed to twitter is like comparing a desktop to a laptop. Sure both are computers and can do a lot of the same things, but they were designed with different purposes. I think FF and twitter are the opposite of what Scoble says.
- Patrick Tulskie
Dave: you need to visit the "Everyone" tab. There's a TON of non geeks here. I just don't "Like" their posts, so you don't see them. There's also a very active non-geek community that writes only in Farsi but I don't translate them either. Speaking of which, wasn't this a slam against our blogs at one point? I seem to remember people used to say this kind of stuff about those back in 2001.
- Robert Scoble
Yeah you should read all of what I said, not just this one bit. I agree with Patrick, totally. I said the best system would be a combination of both.
- Dave Winer
Personally, I think that FF is better as a true "micro blog" because of the nature of leaving comments, where as twitter is more of a STATUS update blast to your friends.
- Ron Acierno
You guys missed the whole irony of a Twitter message showing up in FriendFeed where we're now discussing it. Dave: you should have posted some URLs so you could connect all your discussions together here. I'll do that in the next post.
- Robert Scoble
I am a nongeek & more drawn to FF.
- R. Ferguson
The key difference is twitter is a very low friction system. I can post things without fear. They go out to just those who have agreed to follow me. Here I inject myself into a conversation. By nature I am therefore more cautious and thoughtful about what I write. There is more friction and in a small way that creates a more thoughtful discussion.
- Joel Ordesky
Another thing is that I haven't learned how to use FF yet. Not that I haven't put in the time. There are just vast areas I have yet to explore, like the Everyone tab (per Scoble's recommendation). I wasn't slamming anyone Robert -- I'm actually just trying to figure it out, and I'm confused along with most other people, imho.
- Dave Winer
Not only wrong, but somewhat of a "jerky" statement. What's next, Twitter users are also "more pretty and popular?" Seriously, I don't get it. Edit: After seeing what you wrote above, don't you think that you could have said: "I'm not seeing as diverse items on FriendFeed as I am on Twitter, what am I doing wrong?" Instead of sounding like a troll to those of us on FriendFeed?
- Vince DeGeorge
Joel: funny thing is I see a lot of people's Tweets here. I don't get what you are saying at all. But let me try this another way: I've noticed that the half-life of a conversation on Twitter is about four minutes. On FriendFeed? One conversation can go on for hours. Far different. Maybe it's this that you're noticing.
- Robert Scoble
I think Dave is probably right regarding the diversity. Although if one's idea of a "diverse" conversation is one in which both identi.ca and Plurk are mentioned, FriendFeed is OK. I wonder which service has more discussions of Miley Cyrus, American Idol, and the Federal Reserve Board. Will check...
- Ontario Emperor
from fftogo
The conversation is here ... 'nuff said?
- David Weiner
Personally, I enjoy FriendFeed more. The conversations are much better, no 140 character limit, and you are not limited to only twitter, as you can access other services
- Grant
Twitter is bright...so is the headlight of a train...
- J.T Dabbagian
People on FriendFeed are more interested in the conversation so that makes them more interesting. It's like when you are dating- the more they like you the more you like them.
- Sarah Austin
Yes Robert that is the essence of what I meant. Things here are less ephemeral. Even the tweets become more solid and lasting here.
- Joel Ordesky
Twitter is fine for throwaway lines, but I find I get more sense of the conversation with Friendfeed.
- Craig Thomler
FF is more like a mail list and they're famous for flaming out. This one is right on the edge of flaming out right now. In all the time I've used Twitter, it's never flamed out once (AFAIK).
- Dave Winer
Dave - isn't it about conversation? Or is the paradox of Twitter/identi.ca talking but not listening?
- David Weiner
Diverse yes, interesting no.
- Andrew Smith
Dave: Twitter flames out all the time. It's just that those conversations move out of sight within two minutes. Here they keep moving back into view until you hit "hide." Also, if someone is flaming you out, you just need to learn to "block" and "hide." Also, you are in control of any comment left under your name (as is the case here). If you don't like a comment you can delete it. So, if it's flaming out it's YOUR FAULT. :-)
- Robert Scoble
Dave - Barack Obama HAS to consider Senator Evan Bayh as his VP. Bayh is a Democrat who has successfully won as governor and senator in the very red state of Indiana. He knows how to talk to the middle ground. Obama already has the left sewn up, he's going to need to win the middle. True, Illinois + Indiana do not provide geographic diversity, but that didn't stop Clinton-Gore in 1992.
- Hutch Carpenter
Dave W. - honestly I think that Twitter is just a status update site ... It has nothing to do with conversation or it would have it organized and you would be able to leave comments on posts like on Twitter/Jaiku... ect.
- Ron Acierno
I agree with Scoble re. this is a better place for real conversations. It's asinine - and increasingly more so - to refer to this "geek" hierarchy "I don't like non geeks". what does that mean? we're all people here. twitter, ff..your slicing hairs: they are are early adopters...
- j sven
I really don't think that Twitter ever thought of their site as a real micro blog that would be a tool for conversation, I just think that the users started using it that way. How can anyone even follow a conversation on twitter, there is not structure like there is here.
- Ron Acierno
Twitter+FriendFeed - great solution
- Igor Poltavskiy
Twitter is not about the conversation. It's about the information. FF is about the conversation.
- Nick in Manila
Twitter is a signal you do not like it, do not listen to it! Robert is a Dictator, he does not like the signal he blocks the user!
- Igor The Troll יִצְחָק
The twitter audience is more diverse and less tech savvy. more of a wide slice of life.
- Rodney Rumford
Friend Feed is a discussion, you do not like the discussion do not participate! Robert is a Dictator he does not like the author he bans him to Siberia Gulag!
- Igor The Troll יִצְחָק
Nick: you're right and wrong. It's also for discussing Dave Winer's tweets.
- Robert Scoble
twitter is "friendlier" imo
- Chris
they may be more diverse, but if I look at it from a value equation, I get far more from FF than Twitter in terms of interesting. Although to be fair, Twitter still wins as a pure networking tool
- Duncan Riley
Where "brighter" = lacking the ability to really interact or challenge assumptions? No doubt this will not be seen since I made the mistake of disagreing in the past and am probably now blocked. I still like Twitter (conceptually) but got tired of being talked at - love the conversations here, even if the disagreements that sometimes occur make everyone seem a little less "bright/shiny or happy"
- Marco(aureliusmaximus)
I disagree.
- Thomas Hawk
boo, hiss!
- Alan Le
Dave, apples and oranges.
- Dave Martin
I think there are plenty of people on both services that we don't know yet.
- Francine Hardaway
also seems to be easier to 'strike a conversation' there
- Mrinal Desai
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