QQ: China's New Coin of the Realm? - WSJ.com

But so far, though, regulations -- or even legal protections -- for virtual assets are scarce around the world. This week, a Chinese court sentenced a former executive at Chinese online gaming company Shanda Interactive Entertainment Ltd. to five years in prison for virtual embezzlement. Along with two accomplices, the programmer who was in charge of creating assets for the game Legend of Mir II created his own virtual assets without permission and then sold them for $260,000. He says he plans to appeal since there aren't any laws in China covering virtual assets.

Source: QQ: China's New Coin of the Realm? - WSJ.com

On a side note, Tron is 25 years old this year.  So is Bladerunner. 

Interesting that fiction is turning into life, with virtual currency becoming real.

This programmer sort of acted like the Fed, creating wealth from nothing.

Handy ETFs from Bill's Comments

 

Here is my handy list of ETFs:

Short/Bear Funds (Allows you to short in IRA/401K accounts)

PSQ - Short QQQ Inverse of the NASDAQ-100
SH - Short S&P500 Inverse of the S&P 500
DOG - Short Dow30 Inverse of the DJIA
MYY - Short MidCap400 Inverse of the S&P Mid Cap 400

2x Margin Built In (Allows you to leverage IRA/401K)

QLD - Double the NASDAQ-100
SSO - Double the S&P 500
DDM - Double the DJIA
MVV - Double the S&P MidCap 400

QID - Double the inverse of the NASDAQ-100
SDS - Double the inverse of the S&P 500
DXD - Double the inverse of the DJIA
MZZ - Double the inverse of the S&P MidCap 400

Countries (Allows you to invest in other economies)

EWJ - Japan
EWT - Taiwan
EWH - Hong Kong
EWB - Brazil
EWU - UK
EWW - Mexico
EWM - Malaysia
EWS - Singapore
EWC - Canada
EWY - South Korea
EWP - Spain
EWA - Australia
EWP - Pacific ex. Japan
EWG - Germany
EWI - Italy
EWL - Switzerland
EWQ - France
EWD - Sweden
EWK - Belgium
EWO - Austria
EWN - Netherlands

Stock Market Sector Funds (Sector Baskets)

OIH - Oil Services Sector
XLE - Oil Sector
XLI - Industrial Sector
IGE - Natural Resources Sector
IYR - US Real Estate Sector
XLU - Utility Sector
SMH - Semiconductor Sector
XLF - Financial Sector
RTH - Retail Sector
TTH - Telecom Sector
WMH - Wireless Sector
SWH - Software Sector
XLK - Technology Sector
HHH - Internet Sector
XLB - Materials Sector
XLY - Consumer Discretionary Sector
PPH - Pharmaceuticals Sector
XLV - Health Care Sector
IGN - Networking Sector
BBH - Biotech Sector

Bond Funds

SHY - 1-3 yr treasury bond
IEF - 7-10 yr treasury bond
TLT - 20+ yr treasury bond
LQD - corporate bond

Commodities

GLD - Gold
SLV - Silver
USO - Oil

Currencies

FXA - Rydex CurrencyShares Australian Dollar Trust ETF
FXB - Rydex CurrencyShares British Pound Sterling ETF
FXC - Rydex CurrencyShares Canadian Dollar Trust ETF
FXE - Euro Currency Trust ETF
FXF - Rydex CurrencyShares Swiss Franc Trust ETF
FXM - Mexican Peso Trust ETF
FXS - Rydex CurrencyShares Swedish Krona Trust ETF

Standard Index Funds

QQQQ - NDX 100
SPY - SP500
DIA - Dow Jones Industrials
MDY - SP Mid Cap 400
IWM - Russell 2000

Source: Bill Cara: Cara’s Bull Board, Wed., Mar. 21, 2007, 8:18 AM

Web-based proxy filings

As of July 1, 2007, companies will be able to file their proxy statements and annual reports on the web. It marks a formal recognition of the importance of the Web, may be a precursor to a mandatory requirement and also marks an important move forward for XBRL. E-Proxies to Debut in 2007 - Technology - CFO.com

 

FIG you?

 

Between January 2005 and this month's IPO, the five principals of Fortress -- Edens, Peter Briger, Robert Kauffman, Randal Nardone and Michael Novogratz -- cashed out $1.04 billion. "That does not include the Nomura transaction," adds company spokeswoman Lilly Donohue.

Total withdrawn in the two years before they took it public: $1.9 billion. Most of that was in the final few months.

Source: immobilienblasen: Plundered Fortress / pump and dump at its best / hall of fame !

Lender Implosion

Latest count of major US mortgage lenders that have croaked since late 2006:

27

The Mortgage Lender Implode-O-Meter