How vunerable are we when one Chinese official spooks the market on U.S. debt?

We’re in a sad state of affairs when some in China are becoming concerned about the U.S. debt. If China pulls back on financing our country (which is essentially what purchasing treasury bills is), who will step up? We obviously can’t rely on fiscal responsibility. What also troubles me is that OPEC is a large US debt holder….OPEC. As though they’re not cleaning up on us already….

April 4 (Reuters) – A call by a senior Chinese official for China to trim its holdings of U.S. debt rattled markets on Tuesday.

Here is a list of the top 10 foreign holders of U.S. Treasury securities, which totalled $2,187.6 billion at the end of January 2006: Country Holdings (In billions of U.S. dollars)

Japan 668.3
China 262.6
Britain* 244.8
Caribbean Banking Centres** 97.9
OPEC 77.6
Taiwan 71.6
Korea 68.3
Germany 65.2
Canada 54.9
Hong Kong 48.3
* Includes Channel Islands and Isle of Man.
** Include Bahamas, Bermuda, Cayman Islands, Netherlands Antilles and Panama.
Source: U.S. Treasury Department (www.treas.gov)

FBI Doesn't Have Enough Money For Email

Budget constraints are forcing some FBI agents to operate without e-mail accounts, according to Mark Mershon, the agency’s top official in New York. “As ridiculous as this might sound, we have real money issues right now, and the government is reluctant to give all agents and analysts dot-gov accounts.” Yes Mr. Mershon, it is ridiculous.

The FBI can fund absurd and irresponsible projects that are doomed for failure and are unmanageable, so they come up short of funds to provide every agent an email account?

Here’s a recommendation, give every FBI agent a gmail account. They’ll get 2GB of storage, spam protection, and very good indexing. And if they ever loose their email somehow (we’re about the talking FBI here), just get a court order under the guise of fighting terrorism ….

read more | digg story

FBI awards new pre-failure contract

Get ready. Sentinel is here!!! And this time, we’re spending even more money before it eventually fails to mismanagement and cost overruns….

The FBI awarded Lockheed Martin a $305 million, six-year contract to oversee the development of the planned electronic case management system dubbed Sentinel.

“Sentinel will strengthen the FBI’s capabilities by replacing its primarily paper-based reporting system with an electronic system designed for information sharing,” said Robert Mueller, FBI director. “Sentinel will support our current priorities, including our No. 1 priority: preventing terrorist attacks.”

The project replaces the $170 million failed Virtual Case File initiative, which the bureau scrapped in March 2005 after it was shown to suffer from poor management, poor oversight and a lack of mature IT investment processes.

Lockheed Martin Wins FBIs Sentinel Contract

This Essay Breaks the Law – New York Times

I truly hope the Supreme Court gets this one right and rules against this ever exhausting abuse of the patent system to now think that thoughts can be processed….

Believe it or not, this fact is patented by a medical corporation… “Elevated homocysteine is linked to B-12 deficiency, so doctors should test homocysteine levels to see whether the patient needs vitamins”. Let’s hope the court continues to recognize “Products of Nature”.

This Essay Breaks the Law – New York Times

Senator: Net neutrality may not happen

Well, senator Ted Stevens is back again. Just can’t get rid of this guy, and once again, the great state of Alaska shows the rest of the country what little it has to offer with leadership. It seems that Teddy will sign up with anyone writing a check, and this time it’s the major telecoms who want a tiered Internet to favor their services and create new revenue streams at the expense of non-telecom companies and consumers course).

Soon we’ll say goodbye to Net Neutrality

U.S. Airlines prepare for in-flight Battle-Royale

Here it comes, the complete absurdity of allowing people to use their cellphones in flight. Imagine all those obnoxiously loud callers conducting their business, talking as loud as they can so people can hear how important they are. I wonder how many weeks it will take before someone’s phone get stomped on and the air marshall springs into action.

With technology and regulators moving rapidly, passengers could be making and receiving cell phone calls aboard U.S. airline flights next year. On May 10, the U.S. Federal Communications Commission will auction radio spectrum that will allow telecom companies to operate wireless Internet and cell phone services for air travel. Already, several companies, including Verizon Communications, AirCell and AeroMobile are lining up to bid. The FAA recently approved a Verizon Wi-Fi system that lets laptops connect to the Internet from airplanes. If Verizon wins spectrum at the May auction, the company says the system could be up and running in 2007. WSJ.com, 3-14-06