Year: 2015

I Need Some Pictures to Understand This

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Click for big honking image slideshow


Skylon
Saber Engine


Schematic of engine

Reactions Engines, the British company working on a partially air breathing cryogenic engine which would power a single stage to orbit spacecraft, Skylon, as well as a hypersonic transport, the A2.

This project has taken a major step forward with both the European Space Agency and the Air Force Research Laboratory (AFRL) have found the basic concept sound, including a heat exchanger that cools the incoming air by hundreds of degrees in a fraction of a second without choking up without being choked with frost:

It is a well-established truism in aerospace that leaps in propulsion technology almost always precede major advances in spacecraft or aircraft design.

As the clamor for affordable access to space continues to grow, there is mounting interest in the Synergetic Air-Breathing Rocket Engine (Sabre) concept under development by U.K.-based Reaction Engines. This hybrid powerplant is designed to bridge the infamous power gap between air breathers and rockets, potentially enabling a vehicle to accelerate from a standing start on the runway all the way to low Earth orbit.

Such an engine could power high-speed aircraft, suborbital craft or even multi- and single-stage-to-orbit vehicles. Even more encouraging to Sabre proponents is that, while earlier attempts to harvest oxygen from the atmosphere succumbed to thermodynamic reality, the Reaction design continues to pass muster with experts in Europe and the U.S. The company’s most recent—and possibly most valuable—vote of confidence comes from the U.S. Air Force Research Laboratory (AFRL), which analyzed Sabre under a cooperative research and development agreement.

AFRL’s validation followed a detailed study of the entire concept, particularly the precooler heat exchanger technology, which allows for the practical extraction of oxygen from the air without clogging up the mechanism with frost and ice. Reaction unveiled initial details of the methanol-based frost-control system at the American Institute of Aeronautics and Astronautics Hypersonics and Spaceplanes conference in Glasgow in early July.

AFRL program manager Barry Hellman says analysis “confirmed the feasibility and potential performance of the Sabre engine cycle. While development of the Sabre represents a substantial engineering challenge, the engine cycle is a very innovative approach and warrants further investigation.” As a result, Reaction Engines and AFRL plan to continue collaborating on Sabre, with potential follow-on work focusing on evaluation of various air-breathing-powered vehicle concepts and testing of specific engine components.

The AFRL study will also evaluate other potential uses for the Sabre’s heat exchanger technologies, including looking at broader defense applications. “The question to answer next is what benefit the Sabre could bring to high-speed aerospace vehicles compared to other propulsion systems,” says Hellman. “AFRL is analyzing vehicle designs based on the Sabre engine concept. We are also considering testing their heat-exchanger technology at Mach 5 flight conditions in a high-temperature wind tunnel.”

While AFRL acknowledges that Sabre’s original target—a single-stage-to-orbit space access vehicle dubbed Skylon—remains technically “very risky as a first application,” Hellman says: “Sabre may provide some unique advantages in more manageable two-stage-to-orbit configurations.”

………

The precooler chills the incoming air from more than 1,000C (1832F) to -150C in less than 1/100th of a second, before passing it through a turbo-compressor and into the rocket combustion chamber, where it is burned with subcooled liquid hydrogen fuel. For higher altitude operation and the jump to orbit, the engine switches to an onboard liquid oxygen supply and runs as a conventional closed-cycle rocket engine (AW&ST Nov. 26, 2012, p. 47).

What this means in the short term is not space travel, but it does mean that they are far more likely to get government and private sector funding.

Good folks at Av Week have a description of how Reaction Engines made this work, but I cannot make heads nor tails of it:

………

But after endorsement of the basic technology from the European Space Agency and, more recently, the U.S. Air Force’s Research Laboratory, the company’s synergetic air-breathing rocket engine (Sabre) concept is being taken far more seriously. Designed to power a vehicle from a standing start to Mach 5.5 in air-breathing mode, and from the edge of the atmosphere to low Earth orbit in pure rocket mode, the Sabre engine with a heat exchanger at the heart of the design is attracting widespread interest for potential application on a range of atmospheric and space vehicles.

With patents pending and negotiations with new industrial partners apparently at an advanced stage, Reaction Engines has made the surprise decision to unveil the first details of the critical technology at the core of its hybrid hypersonic propulsion system.

………

“It is pretty mind-bending stuff,” says Reaction Engines technical director and chief designer, Richard Varvill. Speaking at the American Institute of Aeronautics and Astronautics International Space Planes and Hypersonics conference here, he says the system counters the frost that precipitates out of the air as it becomes saturated with increasing relative humidity during the rapid cooling process. The precipitation “looks like the white feathery frost you’d see on a cold winter’s day. Unfortunately, that frost is sufficiently mechanically strong that it can bridge the gaps between the tubes and will block the matrix solid in about 3 sec. flat if you don’t do anything about it.

“So—surprise, surprise—we use an anti-freeze, and in this case it is methanol. But we use the methanol in a rather sophisticated way, with the objective of minimizing the amount you need. Also we don’t want to spray the methanol in and leave it in the air flow because we are actually cooling down the air to the point at which the methanol would freeze itself,” he says.

To do this, Reaction Engines has “borrowed a trick from the chemical process industry,” says Varvill. “We inject the methanol at one of the coldest points, and we effectively get the mix of water and methanol to flow forward in the matrix—against the direction of the airflow.” He concedes this seems counterintuitive, but explains the system generates an effective reverse flow by catching the water-methane mix and reinjecting it further upstream. “We have multiple injection and extraction points in the matrix, but the overall effect is the mix of methanol and water is actually flowing forward in the matrix against the airflow direction.”

The reasoning, he says, is that the condensate composition at the cold end of the matrix is nearly all methanol, and as it flows forward the methanol picks up the water. “At the inlet [of the matrix] it is nearly all water, so the composition is more methanol-concentrated at the cold end than it is at the warm end,” Varvill says. “That then reduces because you have extracted most of the water at the warm end, and that reduces the absolute amount of methanol you need to throw into the pre-cooler to stop it freezing.” And because the amount of liquid water reduces so does the relative humidity. “Eventually you end up with a situation where you have extracted all the water vapor as liquid from the airflow, and that leaves you essentially with dry air below 215K. The partial pressure of the water vapor at this point is so low that you can allow it to pass through the heat exchanger and it does not freeze.”

………

Reaction Engines decided to go public on the frost-control technology because of pending patent applications. “The trigger for patenting was the awareness that to execute this program we are going to have to involve other companies,” says Mark Thomas, the former chief engineer for technology and future programs at Rolls-Royce and now managing director at Reaction Engines. “You can’t keep trade secrets very long in that situation, so it is better to be protected formally and legally on the clever stuff.”

This is all going on while the engine is moving faster than mach 5, though it is slowed to subsonic speeds (the cooling allows the system to avoid the complexities of a scramjet, the shock cone in the inlet is the tell here).

I would really like to see an animation of this, because for the life of me I cannot see how they get coolant to flow forward against that sort of air flow.

It’s weird, but it is a good kind of weird.

So Not a Surprise

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The Pension Trustees of New Jersey decided that the huge private equity fees being paid to Christie supporters needed to be investigated.

Now we discover that the Christie administration is slow walking the investigation:

When New Jersey Gov. Chris Christie was preparing to launch his presidential campaign this spring, he faced a big potential headache: New Jersey pension officials had voted to investigate secret taxpayer fees that the Republican governor’s administration paid to Wall Street firms. But Christie’s administration may have found a stopgap solution: stall.

Four months after state pension trustees’ vote, the retirement system’s chairman told International Business Times that Christie’s aides have so far prevented the probe from getting off the ground.

“They are throwing up obstacles, as many as they can find,” said Tom Bruno, who leads the N.J. Public Employees’ Retirement System’s board of trustees. Bruno says Christie’s Treasury Department has prevented the probe from going forward until Christie’s appointees on the State Investment Council give their blessing.

The investigation was supposed to evaluate the higher fees that have accompanied the administration’s shift of billions of dollars of pension money into hedge funds, private equity and other so-called “alternative” investments. Despite federal and New Jersey “pay to play” rules, some of those fees have been paid to firms whose executives donated to GOP groups affiliated with Christie. But with New Jersey having no independently elected auditor, treasurer or attorney general, pensioners must ultimately rely on the Christie administration to approve an investigation of its own decisions affecting thousands of retirees.

………

Pension trustees demanded the audit in April following a series of reports from International Business Times spotlighting a massive increase in pension fees paid to private financial firms — some of whose executives have made campaign contributions to Republican groups affiliated with Christie. In March, IBTimes reported that the Christie administration had failed to disclose potentially hundreds of millions of dollars in fees the state had been paying since Christie took office in January 2010.

………

Last year, after the initial disclosures, Christie’s then-State Investment Council Chairman Robert Grady resigned amid questions about political favoritism in awarding pension contracts. This year, Christie’s state treasurer, Andrew Sidamon-Eristoff, resigned in June, a month after a testy legislative hearing in which state lawmakers raised questions about the undisclosed fees paid by the pension system under Christie.

The pension trustees’ push for a full audit of the pension system follows moves by the Christie administration that appeared to obscure or conceal details of the system’s finances and oversight decisions.

After financial experts raised questions about the accuracy of the pension performance data in 2014, Christie’s administration rejected repeated open records requests for documents that would show how it calculated the figures. When in the same year it was revealed that Massachusetts Republican gubernatorial candidate Charlie Baker donated $10,000 to the New Jersey Republican Party months before his financial firm received a New Jersey pension deal, Christie’s aides blocked the release of the findings of the government’s pay-to-play investigation until after Baker’s closely fought election.

Meanwhile, in the pension system’s most recent annual report, Christie’s aides changed the way they tabulated pension management fees to make it seem as if the fees had decreased — when, in fact, they had jumped to $600 million.

………

The state’s investment strategy has not, however, generated higher returns for taxpayers and retirees. Last year, a study by Wilshire Associates found that the New Jersey pension fund’s investment return has trailed the median for pension funds throughout the country.

………

On Wednesday, however, the State Investment Council said the pension’s returns have been lower than expected so far this year.  

I so hope that he ends up in jail, but given his background as a former US Attorney, I fear that he has surrounded himself with plausible deniability.

Bad Day at the Office

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Explosion


Subsequent fire

During an exercise, SM-2 standard missile exploded on launch, damaging the Aegis Class destroyer, The Sullivans:

A US Navy guided missile destroyer was damaged by a surface-to-air missile that exploded shortly after launch during an exercise off the U.S. Atlantic coast on Saturday USNI Reports. 

 The US Navy confirmed that a Raytheon made Standard Missile-2 (SM-2) test missile exploded after suffering a malfunction as it was fired from the guided-missile destroyer USS The Sullivans (DDG 68) during a planned missile exercise off the coast of Virginia. There were no injuries and only minor damage to the port side of the ship resulting from missile debris. The ship returned to Naval Station Norfolk for assessment.

Thankfully, there were no injuries.

BTW, the explosion appears to be of the missile booster, not the warhead.

In descending order, the likely causes of this are:

  • Cracks in the propellant, causing an uncontrolled burn.
  • A flaw in the engine casing.
  • A flaw in the nozzle.
  • Something else (Yeah, I know it’s kind of a catch all)

What the navy is probably doing now, in addition to collecting bits of the missile and figuring out what happened, is pulling all the missiles from that production lot for inspection, and they will probably increase inspections more generally.

My (slightly) informed guess (I used to work on missiles at Lockheed-Martin Missiles and Fire Control) is that this was an older missile, and that cracks developed over time as a part of the aging process, but opinions are like assholes, everyone has one.

Nice That This Has Made The Times

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It appears that the mainstream media is finally noticing that a big problem in US healthcare is prices, and not people taking their children to the doctor for a case of the sniffles:

As complaints grow about exorbitant drug prices, pharmaceutical companies are coming under pressure to disclose the development costs and profits of those medicines and the rationale for charging what they do.

So-called pharmaceutical cost transparency bills have been introduced in at least six state legislatures in the last year, aiming to make drug companies justify their prices, which are often attributed to high research and development costs.

“If a prescription drug demands an outrageous price tag, the public, insurers and federal, state and local governments should have access to the information that supposedly justifies the cost,” says the preamble of a bill introduced in the New York State Senate in May.

In an article being published Thursday, more than 100 prominent oncologists called for support of a grass-roots movement to stem the rapid increases of prices of cancer drugs, including by letting Medicare negotiate prices with pharmaceutical companies and letting patients import less expensive medicines from Canada.

“There is no relief in sight because drug companies keep challenging the market with even higher prices,” the doctors wrote in the journal Mayo Clinic Proceedings. “This raises the question of whether current pricing of cancer drugs is based on reasonable expectation of return on investment or whether it is based on what prices the market can bear.”

………

“The industry has used R&D costs for the justification, but anyone who is reasonably sophisticated understands those are sunk costs and have little to do with pricing,” Mr. Rother said. “The more important information is any calculation of value. If the drug actually cures people, then what costs in health care are you saving?”

Dr. Jerry Avorn, a professor at Harvard Medical School and critic of some drug company practices, said the industry “has brought this on itself by charging prices that are so astonishing, it makes citizens wonder, ‘Where did this figure come from?’ ”

Yes, it does make citizens wonder.

What could help is ending evergreening, where a company uses a compliant FDA and US Patent Office to extend their legal monopolies, or the insane way in which the orphan drug act is used to grant legal monopolies on drugs that are literally thousands of years old.  (For example Colchicine has been in use for at least 3500 years, and when the company got exclusivity, it raised the price by a factor of 50)

The problem with drug prices, as well other medical prices, is that we have structures in place that allow corporations, which are by their very nature designed to function as sociopaths to extort excessive rents.

And we are exporting this model to the rest of the world through out trade deals like the TPP and TTIP, which will put the health of citizens in the signatory nations at the same sort of risk that exists here.

Today’s Must Read

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Joschka Fischer, the former Foreign Minister for Germany has an OP/ED titled, “The Return of the Ugly German,” and it has to be read.

I will give you 2 paragraphs, and tell you to go read:

Germany has been the big winner of European unification, both economically and politically. Just compare Germany’s history in the first and second halves of the twentieth century. Bismarck’s unification of Germany in the nineteenth century occurred at the high-water mark of European nationalism. Militarism became intimately associated with German power. Indeed, Germany’s public philosophy, unlike that of France, Great Britain, or the United States, never incorporated a civilizing ideal to justify the use of military power.

 The foundation of the second, unified German nation-state in 1989 was based on Germany’s irrevocable Western orientation and Europeanization. And the Europeanization of Germany’s politics filled – and still fills – the civilization gap embodied in German statehood. To allow this pillar to erode – or, worse, to tear it down – is a folly of the highest order. That is why, in the EU that emerged on the morning of July 13, Germany and Europe both stand to lose.

H/t Naked Capitalism.

This is Just F%$#ing Evil

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And, of course, the targets of such an action are the poor, the mentally ill, and minorities, so the fact that the Senate version of the transportation bill will includes a measure that will cut off social security benefits to everyone who has an outstanding warrant:

The large transportation funding bill moving through the Senate would end Social Security benefits for 200,000 people who have an outstanding felony arrest warrant—but have never been convicted by a court, or have a warrant for violating probation or parole, according to disability rights advocates tracking the legislation.

………

“There are two key issues here,” said T.J. Sutcliffe, income and housing policy director for The Arc, a national disability rights organization. “One is that the Social Security Trust Fund should not be used for unrelated purposes, no matter how important. And the other is Congress is considering cutting off benefits to 200,000 people who rely on Social Security and SSI [disability] benefits, who, in the case of arrest warrants have never been convicted.”

The proposal surfaced in the Senate on Tuesday in a package of amendments (page 949, Section 52303) being added to a transportation bill. The House’s version of the bill only would have extended funds for several months, while the Senate is looking at a six-year proposal—which becomes a vehicle for many other languishing bills.

Slightly different versions of a bill to punish people with outstanding felony warrants, or warrants for violating probation or parole, were introduced in both chambers. Disability and low-income advocates were quick to criticize the proposals, saying that they will punish people who rely on Social Security with little law enforcement benefit.

“It would not help law enforcement secure the arrest of people they are seeking for serious crimes,” explained Justice In Aging. “Law enforcement is already notified of the whereabouts of every person with a warrant for a felony or an alleged violation of probation or parole who turns up in the Social Security Administration (SSA) databases.”

The anti-poverty law group listed 10 reasons why the proposal was unduly punitive and would have very draconian consequences:

  • “Those most likely to lose benefits are generally those most in need.
  • A significant number of people will become homeless when they lose their benefits.
  • Some people have had benefits cut off while residing in nursing homes.
  • A very high percentage of those who will lose their benefits are people with intellectual disabilities or mental illness.
  • An unusually high percentage of those who lose benefits are African-Americans.
  • Many will lose Medicare outpatient (Part B) coverage because of inability to pay the quarterly premium.
  • Eliminating what may be their only source of income does not help resolve these issues.
  • Many people never know that a warrant has been issued for them as warrants are often not served on the individual.
  • These warrants are often not easily resolved since many of those who lose benefits live far from the issuing jurisdiction.
  • SSA will have increased administrative costs for processing appeals and requests for waiver of recovery of overpayments.

“A majority of those affected who are receiving benefits based on disability fall into these categories,” it said. “Large numbers of those who will lose benefits had warrants routinely issued when they were unable to pay a fine or court fee or probation supervision fee.”

OK, it’s not, “Just F%$#ing Stupid”, it’s evil AND stupid.

What the hell is wrong with these people?

Well, I Don’t Give to NPR Anyway

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My brother made an interesting observation about the NPR obituary for Theodore Bikel: There was no mention whatsoever of the fact that Bikel was Jewish:

There is a word missing from NPR’s obituary for Theodore Bikel (Theodore Bikel, Who Starred In Broadway’s ‘Fiddler On The Roof,’ Dies).

That Jew. Or for the squeamish, Jewish.

 The piece was delivered (and one assumes written) by Lynn Neary, described as having” develop[ed] NPR’s first religion beat. [And] As religion correspondent….covered the country’s diverse religious landscape”.

 ………

 The closest NPR came to hinting that Bikel might have a Jewish connection was that his family fled Vienna to the Palenstine Mandate. All NPR chose to say was that Bikel’s family fled.

 I am curious why it was so hard for NPR to say the word Jew, or even Jewish?

It is interesting.

I will note that I have been leery of NPR’s religion beat reporters since the ties between NPR religion reporter Barbara Bradley Hagerty and the religious right hit the blogosphere over a decade ago.

Please note, I don’t think that there is some sort of secret agenda in what NPR is doing here:  I think that public broadcasting is being driven by their abject terror of what the Congressional Republicans might do to them.

It’s been that way since Gingrich was speaker.

One final note:  Nice catch by my bro.  I missed the omission completely.

Aka Stephen Saroff      o o  The Bear who Swims      
                        (_)_____o      
                     ~~~~(______)~~~~~~~~~~
                         oo    oo

Out F%$#ing Standing!

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I have been out of work for the past few months, and tomorrow I start a new job at Nozilizer, a company that makes No2 based sterilizers.

As is my wont, I am not going to be blogging about this new job, because this is a way for me to end up on unemployment list.

Even better, it is less than a 10 minute walk from the Lexington Market Metro stop, so I won’t be using my car to commute.

Time for a hearty “Boo Yah!“

The Latest in Patent Abuse

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Colgate just filed a patent on Indian herbal recipes that have existed for thousands of years:

India has successfully blocked two patent claims of US consumer goods major Colgate-Palmolive, which wanted intellectual property right (IPR) cover on two oral compositions made from Indian spices and other herbs.

One patent battle took almost seven years, after the New York-based company filed a claim at the European Patent Register on September 29, 2008, for a composition containing botanical extracts from three herbs, including cinnamon, a common kitchen spice across India, known here as “dalchini”.

India opposed the claim using the traditional knowledge digital library (TKDL) database, created in the last decade to fight biopiracy.

The database, maintained by the Council of Scientific and Industrial Research (CSIR), submitted its plea in May 2011, and the European patent office ruled in India’s favour last month.

Two years after filing the first patent claim, Colgate-Palmolive moved another application in 2010 before the European patent office, seeking protection for another oral composition containing nutmeg, ginger, “Bakul” tree, camphor, cinnamon, turmeric, Indian banyan, black pepper, long pepper, Neem and clove. The solution is for treating oral cavity diseases.

………

The digital database, containing Ayurveda, Unani and Siddha formulations, and known medicinal properties of Indian herbs, was created following India’s successful IPR battles on haldi (turmeric), neem and Basmati rice.

The Union Commerce Ministry spent Rs 7.61 crore in 2000 as legal fee to reverse a patent examiner’s decision on basmati rice. “Going by that standard, the TKDL has saved upwards of Rs 500 crore so far, and more to come. In the next step, the government should not only add many more ancient books to the TKDL database but also incorporate knowledge from manuscripts,” said Gupta, who retired in 2013.

There needs to be some sort penalty when firms file fraudulent, because this sort of crap is endemic.

Oh, Please!

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The police in the Freddie Gray murder are now claiming that their statements were extracted under duress, because they felt that their jobs were on the line:

Three of six Baltimore police officers charged in the death of Freddie Gray argued in court filings this week that they provided statements to police investigators under duress because they feared losing their jobs.

Two of the officers said that when investigators asked them to provide statements about the circumstances surrounding Gray’s arrest, they were led to believe they were doing so as witnesses — not as suspects.

Another said she provided a statement without being advised of her Miranda rights, then was ordered to return five days later to be read her rights and provide another statement.

Now those statements are key evidence in the case. Defense attorneys for Lt. Brian W. Rice, Officer William G. Porter and Sgt. Alicia D. White — all charged with manslaughter — have asked that those statements be suppressed, which would prevent prosecutors from using them in court.

So, they are claiming that they feared losing their jobs, just like brokers interview by the SEC are, and that the police never said that they were target, which the is a tactic that has been ruled legal by the Supreme Court dozens of time.

I do understand that the lawyers for the cops

What a Surprise: Poles are Worrying about a New German Conquest

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In response to the largely German driven takeover of Greece, Polish support for joining the Euro has fallen off a cliff:

Once, it was an exclusive club that nearly all of Europe aspired to join. Now, in the wake of Greece’s latest financial crisis and the hard-line response from many of the Continent’s powers, becoming a partner in the European common currency seems less and less appealing to many of the countries lined up for their chance.

From Poland to the Czech Republic to Hungary and points farther south and east, joining the euro is increasingly seen as rife with risks and costs — including a substantial surrender of sovereignty — that outweigh the benefits. And while many of the countries that have not yet adopted the single currency had doubts before the Greek crisis flared, the heavy penalties incurred by Athens to stay in the eurozone have made the trade-offs even clearer and the political leanings against membership more pronounced.

The qualms about partnership in the currency raise further questions about the ability of the European Union to maintain momentum toward its long-held and oft-stated goal of ever-closer union. More than any other policy, the single currency was intended to bind the members economically and politically while reducing the chances of conflict, and the decline in enthusiasm for the union has tracked a more general reassessment of European integration.

The doubts are now playing out primarily in the countries that most recently joined the European Union, primarily in Central and Eastern Europe. Lithuania became the 19th and newest adopter of the euro in January.

………

With such political attitudes hardening, the prospect of Poland’s or any other country’s adopting the euro anytime soon appears quite remote, said Sebastian Plociennik, an analyst for the Polish Institute of International Affairs who focuses on European integration and economic issues.

This is not a surprise.

The EU was all about preventing another horrific war in Europe, particularly another attempt by Germany to conquer Europe.

So now, other nations which bound by treaty to join the Euro at an indeterminate time are thinking that the proper time is, “When hell freezes over.”

This has set back EU integration, and Euro adoption by decades.

Not this Sh%$ Again!

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Interest-only mortgages: They’re baaack:

They were the villains of the housing crash. Federal regulators called them toxic. Now interest-only mortgages are making a comeback, but these are not the loans of yesteryear or yester-housing booms.

“I think it’s opening the door back to responsible lending, giving people choices,” said Mat Ishbia, president and CEO of Michigan-based United Wholesale Mortgage, the second-largest lender through brokers in the nation.

The company announced Monday it is now offering interest-only loans through brokers, with significant safeguards. Borrowers must put 20 percent down, ensuring that they have the “skin in the game” that so many did not during the heady days of the housing boom. They must have at least a 720 FICO credit score, which is well above average, and they must qualify on what the payments will be once they’re adjusted higher, not at the starter rate.

“These people can afford these mortgages. They’re savvy homeowners,” said Ishbia. “We’re giving them the choice. It is no more risk to us. We actually think it’s less risk.”

United Wholesale Mortgage does not hold the loans but sells them to investors. Fannie Mae and Freddie Mac, the government-backed mortgage giants, do not buy these types of loans.

Yeah, This Time, It Will Be Different!

Notwithstanding the myths of the housing crash, the GSE, Fannie Mae and Freddie Mac, actually had a smaller role in mortgage securitization as the housing bubble came expanded like a supernova.

It was the private loan investors that were at the core of the last real estate collapse, and now they are back, and investing in insane mortgage products.

It’s déjà vu all over again.

Internet Firm Going Public, but Not in a Good Way

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It appears that, Ashley Madison the dating site for people who want to cheat on their spouses, has gone public ……… prematurely, and much like their clients, prematurely is not a word that you want to hear:

Large caches of data stolen from online cheating site AshleyMadison.com have been posted online by an individual or group that claims to have completely compromised the company’s user databases, financial records and other proprietary information. The still-unfolding leak could be quite damaging to some 37 million users of the hookup service, whose slogan is “Life is short. Have an affair.”

The data released by the hacker or hackers — which self-identify as The Impact Team — includes sensitive internal data stolen from Avid Life Media (ALM), the Toronto-based firm that owns AshleyMadison as well as related hookup sites Cougar Life and Established Men.

Reached by KrebsOnSecurity late Sunday evening, ALM Chief Executive Noel Biderman confirmed the hack, and said the company was “working diligently and feverishly” to take down ALM’s intellectual property. Indeed, in the short span of 30 minutes between that brief interview and the publication of this story, several of the Impact Team’s Web links were no longer responding.

………

In a long manifesto posted alongside the stolen ALM data, The Impact Team said it decided to publish the information in response to alleged lies ALM told its customers about a service that allows members to completely erase their profile information for a $19 fee.

According to the hackers, although the “full delete” feature that Ashley Madison advertises promises “removal of site usage history and personally identifiable information from the site,” users’ purchase details — including real name and address — aren’t actually scrubbed.

“Full Delete netted ALM $1.7mm in revenue in 2014. It’s also a complete lie,” the hacking group wrote. “Users almost always pay with credit card; their purchase details are not removed as promised, and include real name and address, which is of course the most important information the users want removed.”

On NPR, a representative of ALM said that they were using DMCA take-down notices to keep the information off the web, but that makes no sense at all, because a data is not copyrightable, though there may be some trade secret protections that apply.

In either case, there was a bit of schadenfreude for me when I heard about this.

I can understand how some people might look for someone to cheat with, you see this in the personal ads of the alternative press regularly, but making a whole site for this is just really creepy.

H/T Yves Smith.

Not Enough Bullets

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I just heard that the head of Goldman Sachs, Lloyd Blankfein is now a billionaire:

Goldman Sachs Group Inc. made hundreds of partners rich when it went public in 1999. Its performance since then has turned Lloyd Blankfein into a billionaire.

The chief executive officer of the Wall Street bank for the past nine years, Blankfein has seen his net worth surge to about $1.1 billion as the firm’s shares quadrupled since the initial public offering, according to the Bloomberg Billionaires Index. As the largest individual owner of Goldman Sachs stock, he has a stake in the company worth almost $500 million. Real estate and an investment portfolio seeded by cash bonuses and distributions from the bank’s private-equity funds add more than $600 million.

All that money is because he was bailed out by the taxpayer.

He should have gone to jail like Depression era NYSE boss Richard Whitney, who was jailed, and after his release, worked on a farm.

This guy should be making license plates for the next few years, and thereafter, he should be banned from the securities industry for life.

These guys should frog marched down Wall Street in handcuffs.

We should make a parade of this, so that for the next few years, the bankster “Whiz Kids” will think twice before adding “innovations” that serve no purpose beyond lining their own pockets.

Yeah, I am So Confident in the Safety of the Keystone XL Pipeline

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Up in Alberta, land of the Tar Sands, a brand new bitumen pipeline has just ruptured, causing a major oil spill:

One of the largest leaks in Alberta history has spilled about five million litres of emulsion from a Nexen Energy pipeline at the company’s Long Lake oilsands facility south of Fort McMurray.

The leak was discovered Wednesday afternoon.

Nexen said in a statement its emergency response plan has been activated and personnel were onsite. The leak has been stabilized, the company said.

The spill covered an area of about 16,000 square metres, mostly within the pipeline corridor, the company said. Emulsion is a mixture of bitumen, water and sand.

BTW, that high tech brand new (1 year in operation) pipeline?

The warning system failed as well:

Nexen’s “failsafe” system didn’t detect massive pipeline spill: http://t.co/ULEnxlmQEN pic.twitter.com/DmChECTUX7

— Anna Mehler Paperny (@amp6) July 17, 2015

This is what happens when the private industries capture the government that is supposed to regulate it.

John McCain needs to Man the F%$# Up

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I understand the freakout over Donald Trump impugning John McCain’s war record:

“He’s not a war hero,” Mr. Trump said during an appearance at the Family Leadership Summit. “He’s a war hero because he was captured. I like people who weren’t captured.”

Of course, considering the record of Republicans on this:

  • George W. Bush and Karl Rove starting a whispering campaign in the 2000 primaries that McCain had collaborated with his North Vietnamese jailers.
  • Belittling Al Gore’s service in Vietnam.
  • Calling Max Cleland, a silver star recipient who lost three limbs in Vietnam a coward.
  • Mocking John Kerry’s service by sporting band-aids with purple little purple hearts on them at the 2004 Republican presidential convention.

The idea that now somehow it is beyond the pale for people to mock someone’s military service, when Republicans have been doing so for more than a decade, is ludicrous.

Republicans have been mocking opponents military service for over a decade.

That pretty much the whole Republican Presidential field are having the vapors over Donald Trump is a mark of both hypocrisy and a terminal lack of self awareness.

The fact that “The Donald” makes this clear to any cogent observer amuses me.

Not a Surprise, Given the History

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Given the history of the Ukrainian antisemitism, and even by the standards of the worst times of the Czarist regime it was extreme, this should come as no surprise:

There were times when the Jewish population of the Crimean peninsula exceeded 65,000. Now it”s around 10,000 out of 2 million, but it suddenly looks like this number has a chance to increase dramatically.

The tumultuous events around Crimea slipping out of Ukraine’s control divided the Ukrainian Jewish community. From the very first days, Crimean Jews threw their lot with Russia. “In Crimea, some Jews feel safer after Russian intervention,” reported Jewish Telegraphic Agency on March 4, 2014, less then a week after Russian ‘little green men’ put Russian flag in Sevastopol. “While many Ukrainian Jews have strongly condemned the Russian military incursion into Crimea,” JTA continued, “others see the intervention as restoring order in the wake of violent revolution that overthrew the pro-Russian government of President Viktor Yanukovych.”

Since then, Crimean Jews en masse exchanged their Ukrainian passports for Russian ones, and to the chagrin of their co-religionists elsewhere in Ukraine, asked the West and to put an end to the ‘unjust’ sanctions imposed on Russia over Crimea.

International Business Times reported in the beginning of July that Russian president Vladimir Putin was urged to allow as many as 40,000 Jewish people who left Crimea during the reign of the Soviet Union to return to the now Russian-held peninsula and to ease the complex procedures that come with being repatriated to Russia in hopes of revitalizing Crimea. This initiative was led by Leonid Grach, the chairman of the regional public organization “Crimean Forum For the Defense of the Constitutional Rights of the Citizens.”

While there is clearly a propaganda aspect to all of this, it appears that Moscow is doing its best to shout this from the heavens, but the feelings here amongst the Crimean Jewish community are almost certainly genuine.

The history in the Ukraine is really that bad.