the stack

July 19, 2014 at 10:10am
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What would the devastating sanction that was deliberately avoided be? Cutting off altogether access to the dollar clearing system. Recall that the just-imposed sanctions say “U.S. financial institutions may continue to maintain correspondent accounts and process U.S. dollar-clearing transactions for the persons identified in the directives.” Change that to “U.S. financial institutions are prohibited from maintaining correspondent accounts and processing U.S. dollar-clearing transactions for the persons identified in the directives” and it would be a whole new ballgame. This would mean that the sanctioned companies could not receive, spend, deposit, or invest a dollar. (Well, they could if they could find a bank insane enough to be the next BNP Paribas. Good luck with that.)

I discussed how this would work in a post in March, and the Banker’s Umbrella provided a very readable and definitive discussion about that time. Basically, every dollar transaction, even one handled by a foreign bank, involves a correspondent account at a US bank. Cut off access to those accounts, and the sanctioned company can’t touch a dollar.

This would close off the various workarounds I discussed above. The sanctioned companies would have to restructure their operations and financing pretty dramatically. This would be particularly challenging for Rosneft, given that the currency of choice in oil transactions is the USD. This would be like the sanctions that have been imposed on Iran and on Sudan.

This would represent the only truly powerful sanction. And that’s one of the issues. Anything short of cutting off all access to the dollar market is at most an irritant to the sanctioned companies. Cutting off all access imposes a major cost. There’s not much in between. It’s a choice between a pinprick and a sledgehammer blow, with little in-between

— Sanctions: Pinprick or Sledgehammer Blow, With Little In Between.

July 16, 2014 at 5:39pm
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Really interesting interview with Satya Nadella discussing major changes Microsoft needs to take in order to again become a leader in the tech industry. And on the personal note, he much more resembles Bill Gates than Steve “Developers, Developers, Developers” Ballmer. 

4:34pm
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Money talks

       image

So Melo decided to stay in New York.  He chose big pile of money over wining and really I can’t blame him for this - most of us if given the opportunity would do the same. But I’m just so disappointed. It would be so great, almost dream come true if he would join the Bulls. And as I wrote before, they would be an instant contender with really big shot on winning it in oncoming season. Of course there is a tiny chance that Knicks will build contending roster for the 2015/2016 but it will be very, very hard with really small shot on the championship. Meanwhile we’re facing another very disappointing season for Knicks fans with almost no chance to land a place in play-offs especially without Tyson Chandler, stronger Wizzards and a new serious contender from Cleveland.

But to be clear, I’m still a big fan of Melo and Knicks, so no hard feelings and go Knicks. 

July 15, 2014 at 4:05pm
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Reblogged from bryan

It’s tragic that the company employs so many extremely talented people and absorbs so many startups, yet chooses to apply this massive amount of talent and resources to… Facebook.

— Facebook Psychology Experiment – Marco.org (via bryan)

4:04pm
2,099 notes
Reblogged from stoweboyd

The difference between successful people and very successful people is that very successful people say no to almost everything.

— 

Warren Buffett

(via stoweboyd)

(via parislemon)

July 11, 2014 at 1:31pm
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But this is not about the roster or the organization. I feel my calling here goes above basketball. I have a responsibility to lead, in more ways than one, and I take that very seriously. My presence can make a difference in Miami, but I think it can mean more where I’m from. I want kids in Northeast Ohio, like the hundreds of Akron third-graders I sponsor through my foundation, to realize that there’s no better place to grow up. Maybe some of them will come home after college and start a family or open a business. That would make me smile. Our community, which has struggled so much, needs all the talent it can get.

In Northeast Ohio, nothing is given. Everything is earned. You work for what you have.

I’m ready to accept the challenge. I’m coming home.

— 

LeBron James going back to Cavaliers. 

And this is freaking awesome. Now the avalanche should start to role and the decision has to be made by Melo. There are no more excuses. If Melo want to fight for the ring the answer is one and only - Chicago. But even if Anthony will stay in NY next season will be cracking because with this one decision LeBron ones again changed the NBA landscape. Can’t wait the season starts. 

July 9, 2014 at 2:50pm
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well, that is pretty much what happened. 

(Source: parks-and-recreation-department, via radioon)

July 5, 2014 at 2:50pm
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Three reasons ‘Melo should pick … →

Chicago, of course Chicago. If Melo decides to leave New York (and as much as I love New York and Knicks I think he should do it) the destination needs to be Chicago. It’s the most logical decision he can make if he really really wants to win (and not only counting money). Chicago gives him an instant shot on the championship. Combining the defensive mojo of the Bulls with offensive power of Melo and D Rose is just mind blowing. In really weak Eastern Conference they would have a legit chance to overthrown the Heat. Hope he will choose wisely.

2:37pm
11 notes
Reblogged from davemorin

davemorin:

Fireworks by drone.

this is uber cool to watch, though I would definitely change the music int the background.