From Spiegel…..

McGaugh and his staff realized they were looking at an exotic case, perhaps even a scientific sensation. For that reason they took a thorough approach, and for five years they subjected Price to batteries of neuropsychological tests, combed the professional literature for similar cases and developed special questionnaires to allow them to test her memory.

Once she was asked to write down the dates of all Easter holidays from 1980 to 2003. “It took her 10 minutes, and she only got one of the 24 dates wrong, where she was off by two days,” says McGaugh. He had Price repeat the test two years later, and the second time she got all the dates right. “I thought that was especially impressive,” says McGaugh, “because she is Jewish. Easter means nothing to her.”

The scientists were able to verify her autobiographical data because she has meticulously kept a diary since the age of 10. She has filled more than 50,000 pages with tiny writing, documenting every occurrence, no matter how insignificant. Writing things down helps Price organize the thoughts and images shimmering in her head.

In fact, she feels a strong need to document her life. This includes hoarding every possible memento from childhood, including dolls, stuffed animals, cassette tapes, books, a drawer from dresser she had when she was five. “I have to be able to touch my memories,” Price explains.

McGaugh and his colleagues concluded that Price’s episodic memory, her recollection of personal experiences and the emotions associated with them, is virtually perfect. A case like this has never been described in the history of memory research, according to McGaugh. He explains that Price differs substantially from other people with special powers of recall, such as autistic savants, because she uses no strategies to help her remember and even does a surprisingly poor job on some memory tests.

From the Telegraph…

US benchmark commodity futures hit $49.75 a barrel in New York, while the price of Brent in London fell to $48.45 – prices not recorded since May 2005.

Oil has lost about two-thirds of its value since July’s record high prices, as the economic slowdown around the world has weakened demand.

I feel bad for all the people who pre brought their heating oil on the fear that it would keep going up.

From SPIEGEL….

Lilian Engelmann never thought she would see neo-Nazis on her block. The young art curator works in a gallery in the trendy district of Mitte, a neighborhood in central Berlin. Her neighbors include an international cinema, designer hat store, Vietnamese restaurant and — as of last February — a store called Tönsberg, which sells clothing popular among right-wing extremists.

“By coming here, the neo-Nazis tried to come into the center of society,” Engelmann told SPIEGEL ONLINE. Once local residents and shopowners learned that Tönsberg planned to sell the clothing brand Thor Steinar, they organized against the store. The group led by Engelmann and other shopowners called itself the “Mitte Initiative Against the Far Right,” and mounted regular protests.

These people are only going to grow in strength and numbers. Contrary to what some people say, Germany never manged to lay a good moral foundation for a free society. The same could be said of many other countries in Europe.

From Jeff Matthews Is Not Making This Up….

So the odds are good that Buffett himself is not breaking a sweat over his own stock’s 40% decline since his late September cavalry-to-the-rescue investment in Goldman Sachs.

After all, who knows more about Berkshire than Warren Buffett?

Still, somebody out there is indeed breaking a sweat about Berkshire, and not just the company’s stock. Credit default swaps in Berkshire—insurance against a default by Berkshire—have been climbing ever since the market began its September swoon, and suddenly spiked in the last few days.

In the end of the world as we know it, even Berkshire is not a safe haven. Although to be fair, people are mostly worried that it is going to lose its AAA rating. Not go bankrupt per say.

From Reuters…

Online dating service eHarmony has agreed to create a new website for gays and lesbians as part of a settlement with a gay man in New Jersey, the New Jersey Office of the Attorney General said on Wednesday.

From later on in the same article….

eHarmony was founded in 2000 by evangelical Christian Dr. Neil Clark Warren and had ties with the influential religious conservative group Focus on the Family.

Enough Said.

From the Washington Monthly….

Broadway Federal’s story isn’t exceptional. Easily overlooked amid the crisis of big banks today, small-scale financial institutions are, for the most part, holding steady—and sometimes even better than steady. According to FDIC data, the failure rate among big banks (those with assets of $1 billion or more) is seven times greater than among small banks. Moreover, banks with less than $1 billion in assets—what are typically called community banks—are outperforming larger banks on most key measures, such as return on assets, charge-offs for bad loans, and net profit margin.

One reason community banks are doing so well right now is simply that they never became too clever for their own good. When other lenders, including underregulated giants like Ameriquest and Countrywide, started peddling ugly subprime mortgages, community banks stayed away. Banking regulations prevented them from taking on the kind of debt ratios assumed by their competitors, and ties to their customers and community ensured that predatory loans were out of the question. Broadway Federal, for its part, got out of single-family mortgages when they stopped making sense. “A borrower comes and asks, ‘Do you do interest-only, no-down-payment, option ARMs?’ ” recalls Hudson, with a chuckle. “No!” The bank focused instead on expanding its reach to niche borrowers, such as local churches.

This brought to mind something that the Governor of South Carolina said in a recent Wall Street Jouranl editoral called “Don’t Bail Out My State”…

Community bankers tell me that they are now at a competitive disadvantage for being careful about who to lend to, because others that were less disciplined will get a federal bailout.

From Epoch Times…

It began on September 3, 2007, when the early morning sun caught the rust-stained hull of a 1,700-ton cargo ship as it slowly steamed into the busy Mediterranean port of Tartous in Syria. From its mast flew the flag of South Korea and the stern plate identified the al-Hamed as being registered in Inchon, one of the country’s major ports.

Watching the ship manoeuvring into its berth from a distance was a man with the swarthy skin of a Kurd or one of the Marsh Arabs of Iraq. He was fluent in both their languages as well as some of the dialects of Afghanistan. He was, in fact, a Turkish-born Jew who had eschewed the life of a carpet seller in the family business in Istanbul to go to Israel, serve in its army as a translator and finally achieve his life’s ambition to work in Mossad.

Fifteen years later, he was recognised as one of its most brilliant operatives. In that time, he had operated in a dozen countries under as many aliases, using his linguistic skills and chameleon-like characteristics to observe and be absorbed into whichever community he had been sent.

Now, for the moment, he was code-named Kamal with a perfectly faked Iranian passport in his pocket. Mossad’s chief, Meir Dagan, had stressed to him the importance of his mission: to confirm the role of al-Hamed in the dangerous relationship which the Syrian regime of Bashar al-Assad had formed with North Korea.

The whole piece has more detail about Israel’s raid on Syra’s nuclear site than I have seen anywhere else. Somebody is either making things up or talking about things they should keep quite about. (H/T The Belmont Club)

From the Wall Street Journal….

Over the past decade, the capital destruction by GM has been breathtaking, on a greater scale than documented by Mr. Jensen for the 1980s. GM has invested $310 billion in its business between 1998 and 2007. The total depreciation of GM’s physical plant during this period was $128 billion, meaning that a net $182 billion of society’s capital has been pumped into GM over the past decade — a waste of about $1.5 billion per month of national savings. The story at Ford has not been as adverse but is still disheartening, as Ford has invested $155 billion and consumed $8 billion net of depreciation since 1998.

As a society, we have very little to show for this $465 billion. At the end of 1998, GM’s market capitalization was $46 billion and Ford’s was $71 billion. Today both firms have negligible value, with share prices in the low single digits. Both are facing imminent bankruptcy and delisting from the major stock exchanges. Along with management, the companies’ unions and even their regulators in Washington may have their own culpability, a topic that merits its own separate discussion. Yet one can only imagine how the $465 billion could have been used better — for instance, GM and Ford could have closed their own facilities and acquired all of the shares of Honda, Toyota, Nissan and Volkswagen.

Ouch.