I spent two great years working for J. P. Morgan Chase, starting in 1999, followed by a year with the merged JPMC, so I have some knowledge of how this new system will be used and how it fits into the business process of running a bank. I can't discuss details about that, but I just wanted to share my congratulations with the JPMC team for tackling that thorny issue.
You have to understand that investments can't be made until those risk analyses are done, so cutting 7-8 hours off the run time will earn the company millions over the course of a year. We're talking about the kind of investment loans where even a 4-5 hour overnight "float" of capital to help someone seal a bigger deal can be worth a significant amount of interest and profit.
Remember: the big investment banks are dealing with numbers that cause spreadsheets to overflow. You can't even visualize the data with standard desktop tools. You wouldn't believe the totals I saw come out of some reports, and I wish I could forget them. Such numbers are not meant for the grasp of mere humans living on a working wage.
And just think, replying to that programming school on the matchbook cover and adding a little clause of code to catch the fractions beyond cents could have you living on Long Island in a pleasant estate in about half a second of activity. -- Superman movie reference.
You can get petaflops with a fraction of 12,000's x86 price, just use GPUs...
Mrs. Schwartz, we've.. eh heh.. there's been some problems with the computers lately.. eh heh.. but rest assured, Mrs. Schwartz, we will have it all sorted out very soon and not a penny will be out of place.. eh heh.. just as soon as we figure how your checking account came to have a balance of $7,404.06 and.. eh heh.. oh my.. and 12 Klingons. What a dreadful day this has been. Oh, and in case you were considering transfering to another institution.. eh heh.. Bank of America's journals are infested with Romulans and Chase are having a devil of a time with Ferengi. Oh, I do so much need some aspirin. Oh my."
These banks aren't just siphoning money, they are also siphoning talent away from more important projects. The people working on these things could be brilliant physicists or engineers, if they weren't sucked into the dark side.
It's not even dollars and cents. Hasn't been for years. It's points. It's all virtual and simply points. Just like whacking a goblin in some game, they're keeping score, not minding money.
Let's hope the federal government regulators are paying attention this time.
It would suck for them to be confused by the cool new computer and unable to seperate systemic or institutional risk from faster calculating devices.
Wishful thinking. Wall Street moves at the Speed of Light with all these computer trades now. Federal regulators need a super computer to keep an eye on JPMorgan, et al.
"You were insolvent 23 times today, for a total of 3.77 seconds. Federal guidelines mandate not being insolvent more than 15 times per day, over 1.78 seconds."
So they can project how much money to borrow from the Federal Government the next time they have lent beyond sane limits to property speculators or invested in schemes even Mandelbrot wouldn't be able to simulate.
I did exactly that. I love what I can see, but now I just want a bigger scope. [Insert beavis & butthead chuckle here]
It's called "Aperature Fever"
Behaviour typified by acquiring the largest telescope you can manage to fit in your car. Extreme affliction may lead to buying a bigger vehicle (and/or modification of existing vehicle) to accomodate very large scople, primary mirrors, counter weights, etc.
This is why you can find good deals on great astronomy equipment - also some cheap astronomy equipment, too...
People see these "color enhanced" or "artist's impression" pictures and go buy a telescope, eye-pieces, etc. Then go out on a clear night and besides Juper and Saturn, which are pretty cool to look at, are unimpressed with all the little brown-smudgies in the sky, which are most of what Hubble & Co. make such beautiful images out of.
China's aircraft carrier sounds like pretty old tech. Our aircraft carriers are the most advanced in the world, with nuclear power and now electromagnetic launchers. At something like $5 billion apiece, they aren't cheap. Maybe we can get back some of those dollars we've sent to China by selling them a fleet of our new Reagan-class aircraft carriers.
They'll probably use it for harrassing Japan, Taiwan and South Korea over disputed islands, fishing areas and oil exploration.
China has fish to fry close to home, before they think about projecting power.
Brazil I imagine has rather high infection rates, due to the high piracy rates (I'm pretty sure Windows_XP_NoWGA_+_Keygen.torrent doesn't have all the patches slipstreamed in).
Australia is probably just because if the inhabitants can handle thousands of incredibly toxic spiders, scorpions, snakes, fish, and even exploding trees, they can probably handle a browser that's slightly more broken than normal.
"Crikey! This is a really dangerous virus on our computer! I'm going to try to take it by the tail and drag it out of the drive so you can see it. That's quite a magnificient beast, isn't it? Look how it hooks in between layers and takes advantage of vulnerabilities. OK, letting it go again. Watch yer selves!"
This summary makes it sound like they're heroes fighting for our freedom or something. In actuality, they're just advocated for their own alternative Online Protection and Enforcement of Digital Trade Act (OPEN). And the only difference between their bill and SOPA is that SOPA will put enforcement in the hands of the Justice Department and OPEN will put it in the hands of the United States International Trade Commission, which in practice will make ABSOLUTELY NO DIFFERENCE to most sites being busted.
The only reason Darrel Issa and Ron Wyden are supporting it is because it provides more protection for the Googles, Facebooks, etc. and they're both from states where those companies are big players.
They should rebadge it Digital Online Protection Enforcement.
The only thing Congress can agree on is that something must be done to "stop those thieves!"
Meanwhile people on every side lie to them. Ruthlessly so.
You mean the foxes guarding the henhouse could actually be entrusted to propose actually guarding the henhouse?
Trusting Congress to do the right thing is like expecting a snake to get up and walk in a straight line -- they may get about where you'd like them to be, but only with a lot of twisting, turning, amending and consulting with their friendly neighborhood lobbyists to leave in loopholes where more evil legislation could easily be inserted later, perhaps wadded up in a 662 billion dollar defense bill.
The question becomes how long will it take for the culture to shift when it has long become accustomed to underbidding.
Underbidding isn't the correct term here, it's Lowballing - bidding less than it will cost, in time and resources, knowing you can hem and haw, later, and sprinkel phrases like 'unforeseen circumstances', 'overcoming institutional obstacles', etc. to bamboozle people into writing futher cheques. And why not? What board or committee overseeing the project is likely to be led by people with the stones to stand up, rather than just say, 'well, we don't want to be blamed for the project not being completed, gee...'
Companies now probably have a psychological bidding consultant on retainer, they can use to analyze their prospective clients in advance, to see how much they think they can get away with later.
Happens all the time. Not only one IT projects. This is where you need to write into the contract the clause - "failure to meet agreed upon time and goals will be paid for by the contractor to completion"
Going over budget on public sector contracts has at least a century of tradition behind it.
Because sometimes, especially while listening to a quiet movie, you PREFER NOT TO BE SUDDENLY BLASTED WITH NOISE!!
It's annoying as hell. I do kind of agree with you though that it doesn't seem like something the government needs to regulate. But, hey, at least it isn't something actually evil (*ahem* SOPA). And yes, it's a bit sad that I'm glad just because something the government does isn't completely wrong.
What's so amazing about this is I have a MAD Magazine reprint parodying thise from about 1960 - Someone's watching a late night feature and can hardly hear the sound 'ah help your killing me. aaagh.' suddenly, TICK TOCK TICK TOCK ARE YOU HAVING TROUBLE GETTING TO SLEEP!! and neighbors all yelling out their windows to turn the noise down. Wow. About 51 years since that bit in the magazine. Glaciers move faster.
Sirius has become as bad as broadcast radio in adopting the same sh_tty BOOM, WHOOSH & BAM intros to commercials. Who, besides 5 year-olds is impressed with this junk, anyway? I listen to a radio show and then BOOOM <sunday sunday sunday-guy voice>You're listening to ___ on Sirius __(channel name)__</sunday sunday sunday-guy voice> It would be great of FCC insists those stupid things were toned down as well.
Slashdot Mirror
I spent two great years working for J. P. Morgan Chase, starting in 1999, followed by a year with the merged JPMC, so I have some knowledge of how this new system will be used and how it fits into the business process of running a bank. I can't discuss details about that, but I just wanted to share my congratulations with the JPMC team for tackling that thorny issue.
You have to understand that investments can't be made until those risk analyses are done, so cutting 7-8 hours off the run time will earn the company millions over the course of a year. We're talking about the kind of investment loans where even a 4-5 hour overnight "float" of capital to help someone seal a bigger deal can be worth a significant amount of interest and profit.
Remember: the big investment banks are dealing with numbers that cause spreadsheets to overflow. You can't even visualize the data with standard desktop tools. You wouldn't believe the totals I saw come out of some reports, and I wish I could forget them. Such numbers are not meant for the grasp of mere humans living on a working wage.
And just think, replying to that programming school on the matchbook cover and adding a little clause of code to catch the fractions beyond cents could have you living on Long Island in a pleasant estate in about half a second of activity. -- Superman movie reference.
You can get petaflops with a fraction of 12,000's x86 price, just use GPUs...
Mrs. Schwartz, we've .. eh heh .. there's been some problems with the computers lately .. eh heh .. but rest assured, Mrs. Schwartz, we will have it all sorted out very soon and not a penny will be out of place .. eh heh .. just as soon as we figure how your checking account came to have a balance of $7,404.06 and .. eh heh .. oh my .. and 12 Klingons. What a dreadful day this has been. Oh, and in case you were considering transfering to another institution .. eh heh .. Bank of America's journals are infested with Romulans and Chase are having a devil of a time with Ferengi. Oh, I do so much need some aspirin. Oh my."
These banks aren't just siphoning money, they are also siphoning talent away from more important projects. The people working on these things could be brilliant physicists or engineers, if they weren't sucked into the dark side.
It's not even dollars and cents. Hasn't been for years. It's points. It's all virtual and simply points. Just like whacking a goblin in some game, they're keeping score, not minding money.
Let's hope the federal government regulators are paying attention this time.
It would suck for them to be confused by the cool new computer and unable to seperate systemic or institutional risk from faster calculating devices.
Wishful thinking. Wall Street moves at the Speed of Light with all these computer trades now. Federal regulators need a super computer to keep an eye on JPMorgan, et al.
"You were insolvent 23 times today, for a total of 3.77 seconds. Federal guidelines mandate not being insolvent more than 15 times per day, over 1.78 seconds."
So they can project how much money to borrow from the Federal Government the next time they have lent beyond sane limits to property speculators or invested in schemes even Mandelbrot wouldn't be able to simulate.
You forgot the moon. :)
I did exactly that. I love what I can see, but now I just want a bigger scope. [Insert beavis & butthead chuckle here]
It's called "Aperature Fever"
Behaviour typified by acquiring the largest telescope you can manage to fit in your car. Extreme affliction may lead to buying a bigger vehicle (and/or modification of existing vehicle) to accomodate very large scople, primary mirrors, counter weights, etc.
Nah, NASA wouldn't do anything that sleazy.....
http://io9.com/5659951/nasa-caught-photoshopping-an-image-of-saturns-moons-what-were-they-trying-to-hide
http://news.discovery.com/space/nasa-conspiracy-image-processing.html
This is why you can find good deals on great astronomy equipment - also some cheap astronomy equipment, too...
People see these "color enhanced" or "artist's impression" pictures and go buy a telescope, eye-pieces, etc. Then go out on a clear night and besides Juper and Saturn, which are pretty cool to look at, are unimpressed with all the little brown-smudgies in the sky, which are most of what Hubble & Co. make such beautiful images out of.
The Bad Astronomer writes
Bad is quite the understatement here, considering that this story is over 2000 years old.
<Strong Bad Astronomer>My star asplode!</Strong Bad Astronomer>
China's aircraft carrier sounds like pretty old tech. Our aircraft carriers are the most advanced in the world, with nuclear power and now electromagnetic launchers. At something like $5 billion apiece, they aren't cheap. Maybe we can get back some of those dollars we've sent to China by selling them a fleet of our new Reagan-class aircraft carriers.
They'll probably use it for harrassing Japan, Taiwan and South Korea over disputed islands, fishing areas and oil exploration.
China has fish to fry close to home, before they think about projecting power.
Brazil I imagine has rather high infection rates, due to the high piracy rates (I'm pretty sure Windows_XP_NoWGA_+_Keygen.torrent doesn't have all the patches slipstreamed in).
Australia is probably just because if the inhabitants can handle thousands of incredibly toxic spiders, scorpions, snakes, fish, and even exploding trees, they can probably handle a browser that's slightly more broken than normal.
"Crikey! This is a really dangerous virus on our computer! I'm going to try to take it by the tail and drag it out of the drive so you can see it. That's quite a magnificient beast, isn't it? Look how it hooks in between layers and takes advantage of vulnerabilities. OK, letting it go again. Watch yer selves!"
Shit! We're next!
-Canadian AC
Ha! USA! USA! USA!
This summary makes it sound like they're heroes fighting for our freedom or something. In actuality, they're just advocated for their own alternative Online Protection and Enforcement of Digital Trade Act (OPEN). And the only difference between their bill and SOPA is that SOPA will put enforcement in the hands of the Justice Department and OPEN will put it in the hands of the United States International Trade Commission, which in practice will make ABSOLUTELY NO DIFFERENCE to most sites being busted.
The only reason Darrel Issa and Ron Wyden are supporting it is because it provides more protection for the Googles, Facebooks, etc. and they're both from states where those companies are big players.
They should rebadge it Digital Online Protection Enforcement.
It would be most fitting.
The only thing Congress can agree on is that something must be done to "stop those thieves!"
Meanwhile people on every side lie to them. Ruthlessly so.
You mean the foxes guarding the henhouse could actually be entrusted to propose actually guarding the henhouse?
Trusting Congress to do the right thing is like expecting a snake to get up and walk in a straight line -- they may get about where you'd like them to be, but only with a lot of twisting, turning, amending and consulting with their friendly neighborhood lobbyists to leave in loopholes where more evil legislation could easily be inserted later, perhaps wadded up in a 662 billion dollar defense bill.
The question becomes how long will it take for the culture to shift when it has long become accustomed to underbidding.
Underbidding isn't the correct term here, it's Lowballing - bidding less than it will cost, in time and resources, knowing you can hem and haw, later, and sprinkel phrases like 'unforeseen circumstances', 'overcoming institutional obstacles', etc. to bamboozle people into writing futher cheques. And why not? What board or committee overseeing the project is likely to be led by people with the stones to stand up, rather than just say, 'well, we don't want to be blamed for the project not being completed, gee...'
Companies now probably have a psychological bidding consultant on retainer, they can use to analyze their prospective clients in advance, to see how much they think they can get away with later.
1,500,000,000 chinese hackers walked into a hotel.
"It's not every day we see 1,500,000,000 chinese hackers walk into my inn," said the surprised innkeeper.
"And with these room rates you don't see many more!" stated the 1,500,000,000 chinese hackers.
It's not lying, it's marketing and/or sales.
It's voiding a contract.
Happens all the time. Not only one IT projects. This is where you need to write into the contract the clause - "failure to meet agreed upon time and goals will be paid for by the contractor to completion"
Going over budget on public sector contracts has at least a century of tradition behind it.
Not a lot of people really visit these sites anyway. If you want to lambaste the guy do it on twitter or facebook.
Advice to Gene Simmons - don't make China angry.
the beer cooler you can wear as a helmet.
Oh, this isn't a helmet, but you could always wear it as one! w00t!
Advertisers view laws, rules, and common decency as damage and will do their best to route around it.
Yet another opportunity to drag the poor, abused 'Freedom of Speech' out for another turn on the rack.
AutoAuto's?
???
Ah. And when they go up for resale: Otto's Auto Autos!
Get a Google driverless vehicle and you can talk on your cell phone all you want. (Ref: http://yro.slashdot.org/story/11/12/13/1845259/ntsb-recommends-cell-phone-ban-for-drivers)
Dream come true for drunks, too.
yssh shhirr I've p_ssed me pants, sh_t me drawers an' c'n not stannup, thss why me carss takin' me home. *hic*
Google awarded first patent test vehicle
Dunno where I got that from. Wouldn't surprise me if that's what their driver-less car turns out to be.
Steve Ballmer is probably throwing Recaro seats around his office over this.
Because sometimes, especially while listening to a quiet movie, you PREFER NOT TO BE SUDDENLY BLASTED WITH NOISE!!
It's annoying as hell. I do kind of agree with you though that it doesn't seem like something the government needs to regulate. But, hey, at least it isn't something actually evil (*ahem* SOPA). And yes, it's a bit sad that I'm glad just because something the government does isn't completely wrong.
What's so amazing about this is I have a MAD Magazine reprint parodying thise from about 1960 - Someone's watching a late night feature and can hardly hear the sound 'ah help your killing me. aaagh.' suddenly, TICK TOCK TICK TOCK ARE YOU HAVING TROUBLE GETTING TO SLEEP!! and neighbors all yelling out their windows to turn the noise down. Wow. About 51 years since that bit in the magazine. Glaciers move faster.
Sirius has become as bad as broadcast radio in adopting the same sh_tty BOOM, WHOOSH & BAM intros to commercials. Who, besides 5 year-olds is impressed with this junk, anyway? I listen to a radio show and then BOOOM <sunday sunday sunday-guy voice>You're listening to ___ on Sirius __(channel name)__</sunday sunday sunday-guy voice> It would be great of FCC insists those stupid things were toned down as well.
It's trying to continue to make money off it for the next 50 years, which the RIAA/MPAA are trying to do.
Good effort, though.