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Let #39;s Co-op - Left 4 Dead 2: Part 20 (My Brother, The Plumber)
Who #39;s not related to me, or even a boy.
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Papa #39;s Pastaria Day 67: Plumber James
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Papa's Pastaria Day 67: Plumber James - Video
Below follows the latest from Nom de Plumber on the act of full display public idiocy known as the Volcker Rule. The American Bankers Association and Community Bankers have apparently backed down regulators when it comes to small bank holdings of preferred CDOs. But what is really needed is a loud "Foxtrot Oscar" to regulators on the entire enterprise. The Volcker Rule is artibrary and capricious. As Nom de Plumber argues, you cannot enforce a legal standard that cannot be accurately measured. One man's hedge is another man's principal exposure. The Volcker Rule is public evidence of the irrational madness that passes for serious thought in US public policy circles. -- Chris
Volcker Rule implementation: Mission Impossible?
A hedge at a bank will be deemed allowable risk mitigation, and not forbidden proprietary trading-----but only if no material new risk arises, unless the hedge simultaneously protects against that too. Yet, in reality, every hedge does NOT eliminate risk, but merely exchanges one risk type for ideally more-palatable risk types. For instance, a bank could hedge the market risk of its Treasury bond portfolio, by shorting Treasury futures. The bank thereby assumes these substantive new risks, instead:
*basis risk (cash versus futures tracking error)
*liquidity risk (margin calls, without offsetting asset cashflows)
*counterparty and operational risks ( http://www.bu.edu/econ/files/2012/01/Bernanke-RFS.pdf )
*regulatory risk (topic here, ironically).
So, how can any hedge truly be Volcker Rule-compliant?
To prove having only client market-making and no proprietary exposures, a bank must attribute its daily trading P&L to particular risk factors (yield curves, prepayments, defaults, credit spreads, equity indices, dividend streams, option-implied volatility, IRR, asset cashflows, currency rates, etc.) and buy-sell activity. It must then report all un-attributable P&L to regulators, for flagging non-client, proprietary risk positions. Yet, in reality, almost every asset (except non-callable, fixed-rate, high-quality sovereign debt) trades strictly by market pricenot by observable or consensus settings of underlying risk factors. Because infinite permutations of risk factor movements can cause a specific asset price movement, no definitive anchor points will arise to bootstrap that mandated P&L attribution.
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Nom de Plumber | Volcker Rule Implementation: Mission Impossible?
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GENEROUS drinkers at a pub have helped to raise more than 2,000 for Glyn Holland through a number of fund-raising events.
The fund-raisers were held at Tunstall's White Horse pub where Glyn was a regular customer.
White Horse licensee Mark McNulty said: "Glyn and his workmates used to come in here a lot so when they asked if I would do something to help raise money I was happy to.
"My customers have been very generous, we have probably raised about 2,000 altogether.
"I know a lot of Glyn's friends and family have been helping to raise funds and now he is staying in Kidsgrove there have been a couple of events up that end too."
Residents in Kidsgrove have also rallied round to help Glyn.
Events have included a race night at The Clough pub, in Kidsgrove, and a night of entertainment yat Kidsgrove Working Men's Club.
Kidsgrove Mayor Kyle Robinson, who has donated 100 to Glyn through his own fund-raising, said: "People want to see Glyn back home with his family. They have managed to raise thousands of pounds for a great cause.
"Glyn has a friends and family in Kidsgrove and when we heard what had happened we wanted to help."
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The Sentinel published Community has rallied round to raise cash for plumber Glyn...
West Haverstraw, NY (PRWEB) December 31, 2013
Widely used throughout the United Kingdom during the past five years with great success, the Hotel Bed Bug Monitoring System is a proactive early warning system for the detection and control of bed bug infestations in hotels, dorms, healthcare facilities, and group homes. This system combines patented passive monitoring technology with highly developed, eco-friendly processes, so that the user can rapidly detect and eradicate bed begs the moment they enter an environment.
The monitor itself, a small, rectangular device, features an electrostatically charged detection skirt that wraps around the outside of the device. This skirt captures and holds cast skins and fecal traces left behind by the new bed bug intruder. When bed bugs enter an environment, they immediately look for safe nesting areas to avoid threats, digest meals, mate, and lay eggs. The Hotel Bed Bug Monitoring System provides perfect lodging for the naturally cautious bed bug. Once installed on the box spring at the head of each bed, the monitor takes only seconds to check each week. Its the perfect way to detect these pests when they first appear.
David Cain of Bed-Bugs.co.uk and Kristine Effaldana of Dana K9 Scent Detection both believe that wherever possible, non-chemical methods should be used to treat bed bugs. The benefits are twofold: clients, as well as their families and pets, are safe from chemical exposure, and potential environmental damage is avoided. Together, Kristine and David hope to inspire business and homeowners everywhere to search for a chemical-free means of eradicating these pests. The Hotel Bed Bug Monitoring System, among several other types of detection and treatment plans, is a leader in chemical- and toxin-free bed bug extermination.
David Cains main focus is researching bed bug infestations, and educating people about how to deal with them. David notes: There is clearly a need for this system in other areas, and we are delighted to be able to offer the benefits to the North American market. There is a growing demand for bed bug solutions which avoid the need for chemical treatment methods, and this was one of the aspects of the system which made it particularly attractive to Dana K9 Scent Detection and R. Dana Pest Control. Kristine Effaldana, President and owner of Dana K9 Scent Detection, adds: This is a fantastic system and will be a major step forward in our fight against bed bugs. We are not offering empty promises to the hotel industry or its commercial markets; with this system we offer solutions to detect bed bug at their earliest appearance in a given environment. I am finally excited to offer a product that I can put my name and reputation behind.
About Dana K9 Scent Detection
Dana K9 specializes in Bed Bug and Termite detection and removal, and they utilize IAOCPI trained and certified K9 inspectors, along with state-of-the-art technology. Their mission is to provide their clients with the most affordable and accurate means by which they can confirm or disprove the existence of Bed Bugs or Termites within the confines of their home, office, business, school, elder-care facility, hotel, motel, or luggage after a trip. The professionals at Dana K9 aim to educate their customers about Bed Bugs and Termites, including ways to best defend themselves from infestation, and what to do in the event of detecting pests. For more information, contact Kristine Effaldana at 1 (877) 9K9-NOSE, kdana(at)danapestcontrol(dot)com, or visit http://www.danak9.com.
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Dana K9 & Bed-Bugs.co.uk – Hotel Bed Bug Monitoring System
