What’s The Opposite Of Diversity?

Moonbats 37 Comments

University;

Rotela, a devout Mormon, ran afoul of the university after he refused to participate in a classroom assignment that involved writing the name “Jesus” on a piece of paper – and then stomping on it.
The university initially defended the Christ-bashing lesson which is included textbook titled, “Intercultural Communication: A Contextual Approach, 5th Edition.”

h/t PeterJ

Cyprus: As The Barn Door Closes

Roadkill 35 Comments

Zerohedge;

“As it turns out, these same oligrachs may have used the one week hiatus period of total chaos in the banking system to transfer the bulk of the cash they had deposited with one of the two main Cypriot banks, in the process making the whole punitive point of collapsing the Cyprus financial system entirely moot.
From Reuters:

While ordinary Cypriots queued at ATM machines to withdraw a few hundred euros as credit card transactions stopped, other depositors used an array of techniques to access their money.
No one knows exactly how much money has left Cyprus’ banks, or where it has gone. The two banks at the centre of the crisis – Cyprus Popular Bank, also known as Laiki, and Bank of Cyprus – have units in London which remained open throughout the week and placed no limits on withdrawals. Bank of Cyprus also owns 80 percent of Russia’s Uniastrum Bank, which put no restrictions on withdrawals in Russia. Russians were among Cypriot banks’ largest depositors.
So while one could not withdraw from Bank of Cyprus or Laiki, one could withdraw without limitations from subsidiary and OpCo banks, and other affiliates?

Just brilliant.

In every sense of the word.
(h/t Marc in Calgary)

Great Moments In Socialism

Great Moments In Socialism It's Probably Nothing 35 Comments

Cyprus “saved”;

The most positive aspect of last night’s deal was that a deal was reached at all, and that some steps have been taken to counter moral hazard. However, overall, this is a bad deal for Cyprus and the Cypriot population. Cypriot GDP is likely to collapse in the wake of the deal with the possible capital controls hampering the functioning of the economy. The large loan from the eurozone will push debt up to unsustainable levels while the austerity accompanying it (along with the bank restructuring plan) will increase unemployment and cause social tension. There is a strong chance Cyprus could become a zombie economy – reliant on eurozone and central bank funding, with little hope of economic growth. Meanwhile, the country will remain at the edge of the single currency as tensions increase between members with Germany, the ECB and the IMF now looking intent on a more radical approach to the crisis.

Duly noted: Amazing what you can do to an unarmed populace.
From the comments…

Last week:
– it’s a one-off they say
– it’s unique, never need happen again
– special case, doesn’t apply anywhere else
Today:
It’s a good template for Europe.

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