Wednesday, February 4, 2009

Madoff Whistleblower Blasts SEC

Edward Manion is another in a long list of examples of ex-Bush administration officials who should go to jail. Whereas, Harry Markopolos (pictured) is an example of someone who should be promoted. All crimes occur in the past. The crimes of the previous administration should not go unpunished -- otherwise, they set the precedent for future lawlessness. I am not advocating witch hunts. Simply, prosecute the criminals, both within the SEC and the bankers who violated SEC rules. If we don't, then any new reforms and oversight will be corrupted just like the previous system. If there is no fear of breaking the law, then it doesn't matter how many new regultors or regulations we create.

Sunday, February 1, 2009

Facebook Data Mines

Facebook has landed in Davos, Switzerland where it unveiled its latest attempt to monetize its site. The social networking site has announced that it is helping multinational companies instantly poll Facebook members to get instant focus-group research from its 150 million users. The ability to "target exactly the audience you want" is Facebook's latest attempt to find a viable business model. It will be interesting to see how companies listen and learn from their customers who are also active Facebook members.