Another derivatives debacle! At least I can say that I warned you. From Bloomberg com comes this story: Sallie Mae 4th-Quarter Net Falls on Derivatives Losses. The article begins: “SLM Corp., the nation’s largest provider of college-student loans, said fourth-quarter profit tumbled 96% because of a decline in the value of financial contracts it uses to protect against swings in interest rates.”
o o o
Reader J.M. sent us a news story link and asks: “When will the ‘nanny state’ mentality ever end?”: California may ban conventional light bulbs by 2012 OBTW, I also read that in California the Nanny-Staters want to make spanking any child under three years old a misdemeanor offense. There comes a time when people have to just vote with their feet.
o o o
The folks at Freeze Dry Guy (one of our most loyal advertisers) mentioned that they are having a special sale for February on their Dehydrated Variety Case. This case is designed to expand your variety and increase calories and protein in your storage food supply. The Dehydrated Variety Case includes six #2 1/2 size cans, all nitrogen packed for long term storage: 1 Mountain Stew (13 cups), 1 Potato Granules (40 cups), 1 Stroganoff Casserole (11 cups), 1 Applesauce Mix (28 cups), 1 Butter Powder (29 Tbsp) , 1 Fruit Cocktail (11 cups), plus 6 plastic lids for #2 1/2 cans. Pricing: $62 for 1 case, or $166 for 3 cases, shipping included within the Continental US. Oh yes, be sure to ask for their excellent free report, “Thoughts on Disaster Survival.”