Tuesday, April 9, 2013

Austerity FCA

fcuka © fintag

News comments:
Maybe I was asleep or trying to avoid the death of Winston Thatcher but I came across the new FCA's website.

I thought I was on some kids school project wordpress website until I saw the news link about investigating the failings of the Royal Bank of Shite and then it made sense. The old FSA website looked a bit too flash and nobody wants a regulator flashing off its wealth. So they must have used some interns who don't know what a websafe color is (pink maroon purple?) and have done a Windows. A new layer on top of the old bloat ware.

But this is dull for austerity is everywhere. But what is interesting is the website is no longer a .gov. The FCA is a regulator that is a .org. The sec is sec.gov. It smacks of enforcement.

The FCA (and you still have to type in www) is www.fca.org.uk. Now lots of periods / full stops on my Z10 blackberry isn't easy. But that is also dull.

Here is wiki's definition:

"The domain extension was originally created for non-profits, but today it is commonly used by schools, open-source projects, communities, and for-profit entities. The number of registered .org domains have increased from less than one million in the 1990s, to ten million as of June, 2012."

And I was told today if you want to set up an FCA regulated entity it will take between 8 and 10 months.

Wow. The UK has returned back to the 1970s when you had to go on a waiting list to get a phone from British Telecom. Until Thatcher came along and sorted that mess out.

But like the cyclical markets, socialism comes and goes. Now that is more interesting. My portfolio has a long position in First Trust China AlphaDEX. A communist play with the ticker FCA.

How ironic. How random.

Today's shorts:
Death to the hybrid (bloomberg)

Fintag wrong about the new logo (fintag)

Today's longs:
Banker drops his trousers (reuters)

Accountants for hire (reuters)

Gossip:
FCA to put pictures on its website of non white people when it sorts out which skin color goes with maroon.



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