We already know that Congresscritters make huge bank through insider trading, exploiting a loophole that lets them place bets on the stock market based on rules they have yet to announce. But this game-rigging con isn't limited to elected officials: a whole class of unregulated beltway insiders make their living by wheedling "political intelligence" (that is, insider information about upcoming regulations and laws) out of politicians and their staff, and then selling it on to consultants who package it up into legal insider trading recommendations for the hyper-rich.
The U.S. Government Accountability Office has released Financial Market Value of Government Information Hinges on Materiality and Timing, a 34-page report on this practice, trying to figure out how pervasive the scam is. They didn't get any great answers:
"The political intelligence industry is flourishing, enriching itself and clients in the stock market, yet the report notes that it could not document who these people are or how much they profit," [Craig Holman, government affairs lobbyist for government watchdog Public Citizen] said. "Without full transparency of the activity of these political intelligence consultants and their clients, it is nearly impossible to know if they are trading on illegal insider information."
Government Report Examines 'Political Intelligence,' But Questions Remain [Legal Times/Andrew Ramonas]
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In an excellent NYT story, Sarah Lyall reports on "lights-out London" -- the phenomenon whereby ultra-wealthy foreigners (often from corrupt plutocracies like Kazakhstan and Russia) are buying up whole neighbourhoods in London, driving up house-prices beyond the reach of locals, and then treating their houses as holiday homes. They stay for a couple weeks once or twice a year, leaving whole neighbourhoods vacant and shuttered through most of the year, which kills the local businesses and turns central London into something of a ghost town.
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“Some of the richest people in the world are buying property here as an investment,” [Paul Dimoldenberg, leader of the Labour opposition in Westminster Council] said. “They may live here for a fortnight in the summer, but for the rest of the year they’re contributing nothing to the local economy. The specter of new buildings where there are no lights on is a real problem...”
Meanwhile, prices are rising beyond expectation. For single-family housing in the prime areas of London, British buyers spend an average of $2.25 million, Ms. Barnes said, while foreign buyers spend an average of $3.75 million, which increases to $7.5 million if they are from Russia or the Middle East...
The most visible, and also the most notorious, of the new developments is One Hyde Park, a $1.7 billion apartment building of stratospheric opulence on a prime corner in Knightsbridge, near Harvey Nichols, the park and the Mandarin Oriental Hotel, which functions as a 24-hour concierge service for residents. Apartments there have been purchased mostly by foreign buyers who hide their identities behind murky offshore companies registered to tax havens like the Isle of Man and the Cayman Islands.
Black leopard compared to black house cat.
ING paid to have a group of actors play out a dramatic reenactment of the events depicted in Rembrandt's classic painting The Night Watch
Our friends at Meltdown Comics in Los Angeles are now selling this excellent Batman/Bauhaus women's t-shirt by Junk Food Clothing. Meltdown tells me that a men's version is coming soon. These aren't on the Meltdown site so you'll have to contact them to grab one. (via @meltdowncomics on Instagram) Read the rest
In 1978, CalArts students Sue "Su Tissue" McLane and William "Vex Billingsgate" Ranson founded the post-punk band Suburban Lawns.
Warren Ellis answers one of the questions most frequently asked of authors: "When will your book/comic/whatever be turned into a TV show or movie?"
FAQ: I don’t get to decide what gets made into a tv series or film. I cannot, I’m afraid, cause people to give me money for things by magic or force of will. Because, let’s face it, if I could, you’d be part of the slave army building my hundred-mile-high golden revolving statue right now.
I’m glad we got that straightened out.
Thank you, Uncle Warren. As always, you've phrased it perfectly.
FAQ: I Don’t Get To Decide What Gets Made Into A Movie Or TV Show
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Sayaka Ganz creates marvelous animal sculptures from plastic crap she picks up at thrift stores. "Sayaka Ganz: Reclaimed Creations
" (via Juxtapoz) Read the rest
Want to build a DIY version of the Hubble Space Telescope? I posted last year that the Vehicle Power Interface Console used at the Goddard Flight Center during pre-launch testing of the HST was for sale on eBay for $75,000. Well, now the seller has significantly sweetened the deal by throwing in this stately and elegant two-person HST control console presumably also used during pre-launch testing. "NASA ARTIFACT VPI Vehicle Power Interface Rack & Console Hubble Space Telescope" Read the rest
MIT professor and TED fellow Skylar Tibbits
is developing "4D printing, where the fourth dimension is time," meaning that the printed objects change shape over a certain period.
This cursed Roman ring may have inspired the One Ring of JRR Tolkien. It's now on display at The Vyne in Basingstoke, England. The Guardian has more on this artifact and the strange story surrounding its theft and subsequent curse. Read the rest
NYC barista Mike Breach
paints milk portraits in lattes.
My friend Blind Lightnin' Pete pointed me to this fun video of his friend's band, Mauro Ottolini & Sousaphonix. Read the rest
He's called "PETMAN".
Used to test the performance of protective clothing designed for hazardous environments. The video shows initial testing in a chemical protection suit and gas mask. PETMAN has sensors embedded in its skin that detect any chemicals leaking through the suit. The skin also maintains a micro-climate inside the clothing by sweating and regulating temperature.
And you shall know the jazzercise of your new masters, meat. Read the rest
A couple weeks ago, I listened to Unfit for Work: The startling rise of disability in America an interesting program on the supposed rise in disability claims produced by Planet Money and aired on This American Life (where I heard it). The program raised some interesting points about the inaccessibility of certain kinds of less-physical jobs to large numbers of people, but it also aired a lot of supposed facts about the way that parents and teachers conspired to create and perpetuate disability classifications for kids.
Many of the claims in the report are debatable, and many, many more and simply not true. A Media Matters report called This American Life Features Error-Riddled Story On Disability And Children systematically debunks many of the claims in the story, which NPR has modified slightly since posting online (though NPR and Ira Glass continue to stand behind the story).
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FACT: Medical Evidence From Qualified Professionals Is Required To Determine Eligibility
Government Accountability Office: "Examiners Rely On A Combination Of Key Medical And Nonmedical Information Sources." A Government Accountability Office report found that disability determination services (DDS) examiners determined a child's medical eligibility for benefits based on a combination of school records and medical records, and that if medical records in particular were not available, they were able to order consultative exams to review medical evidence:
DDS examiners rely on a combination of key medical and nonmedical information sources -- such as medical records, effects of prescribed medications, school records, and teacher and parent assessments -- in determining a child's medical eligibility for benefits.
First of all, I’ve finally caught up with the rest of the English speaking world and read Ellen Forney’s Marbles. And yes, it’s totally fascinating and deeply affecting, but I’m not telling you anything you hadn’t already heard in December’s Best Damn Comics of the year, so I’ll save you that here. Also, it’s worth pointing out that Quebec’s Drawn & Quarterly is just killing it lately -- like, more so than usual, to the point that I had trouble picking just one of their books this month, though you definitely be hearing their name in the next several of these -- unless I can trick Boing Boing into letting me sneak out reviews of the new Gauld and Hanawalt sooner.
Other Stuff By Peter Bagge. Fantagraphics
Yes. Yes, yes, yes. I can’t tell you how long I’ve been waiting for this one -- well before Fantagraphics ever announced the thing, and certainly Other Stuff doesn’t disappoint. In fact, the mere bringing together of Bagge’s Murry Wilson strips is worth the price of entrance alone. In fact, Peter and assorted Fantagraphics employees, if you’re reading this (as I suspect some of you are), I will be the first in line to buy a graphic novel-length biography of the Wilson family patriarch and self-appointed musical genius drawn in Bagge’s signature style. Ditto for the assorted liberty taking rock and roll tales of folks like Sinatra and Sly Stone.
And then there are the collaborations with R. Crumb, Alan Moore, Dan Clowes and the like, many of which I already own in some form or other, though my self-diagnosed obsessive compulsive disorder thanks Bagge’s publishers for collecting them all into on handy volume. Read the rest
"A cache of 2.5 million files has cracked open the secrets of more than 120,000 offshore companies and trusts, exposing hidden dealings of politicians, con men and the mega-rich the world over." (Thanks, Lew!) Read the rest