only in malaysia are we not that concerned with the credit crisis that is affecting the world. yep. if you read the mainstream news you'll be hard pressed to find anything on how the crisis have affected malaysian companies or the country. according to the news, investment is still coming in, companies are still profitable.. yada yada blah di blah. either we're that oblivious or fundamentally the country's economy IS that strong to withstand the impending doom. heck u have to wonder tho, even our strong neighbour has admitted that they are in a recession. quarterly back to back contractions which was previously unheard off. well maybe that's just how their economy is set up. totally externally driven, ur bound to be affected by what's happening in the world.
being in the business of risk, i'm currently tasked with monitoring all the latest developments surrounding our counterparts and whatever news that may affect the industry in general. that's a whole lot to take in. i mean, the amount of available information is enormous. but making sense of it all and analysing the impact each piece of news have is another challenge all together.
i think everyone is feeling the pressure to secure their position. mitigating risk so that ur not unnecessarily exposed. this will definitely have an impact on the cost of doing business but tough la.
so unless you're living under a rock this past few days the concerted effort of governments across the world to prop the ailing/failing financial system will not come as news. we're only finding out more details of the bailout plans. from the initial blank check bail-out to the more structured equity holding model. we have seen a shift from the whole 'no intervention' free market model to the 'get ur hands dirty' the government needs to act now model. the same people who criticized the governments that tinkered with free market through 'government bailouts' and renationalisation are finally forced to admit the current system just don't cut it anymore.
while i'm not in a position to comment on the validity of this, i mean, is saving a bank from going bust because of the effect it would have on the people who have savings in it the same with saving a corporation from going bankrupt just because so and so's son is the ceo or something like that? very sensitive and subjective don't you think?
you can't help but to wonder. the banks and the financial institutions that are in trouble now. how did they get there? take lehman brothers. a company with a history spanning more than a hundred years. how'd it went from such a strong position to where it is now. broken down, stripped and sold to the highest bidder? we can't really blame a single party for this calamity. some say greed had a big hand it all. i guess it all started with the collapse of the subprime lending market. the spinoff from that raised concerns over a potential collapse of credit derivatives trading. the free flowing unregulated trade of credit default swaps.
either i slept through this topic when we were at uni or this never came up. i really think its the latter.
anyhow, in this case it is good to keep ur self up to date. it is however not good to keep updating your phone firmware. heh? hehe talk about segwaying ur blog entry eh.
what about firmware updates? well ever since i used my se k800i i've always believed in keeping my phone firmware updated to the latest version. same applied to my now auctioned off psp. albeit updated to the latest 'custom' firmware that is. because it seems that with every new firmware updates u can expect more stability to ur hardware. this is not always true. i remembered my k800i button functioned funny when i was browsing the pictures. and last time my e90 also came out funny after a botch firmware upgrade. er wait that was a botched software installation kot.
anyhow apart from bringing stability to your hardware, firmware upgrades also serve as to increase security of the inner workings of the hardware. case in point. firmware upgrade for psp from version 1.5 to 2.XX effectively prevented the user from hacking their psp. i think you need to have some external hardware thingy to get it done. someone correct me if i'm wrong. the best example that i can think off is nokia. when they announced a firmware upgrade for my e90, i was excited that the browser finally supported flash videos. that meant that you can watch you
when i wanted to run the hack it seems that nokia had did something sneaky and effectively rendered the hack useless.
well until a few weeks later when somebody came out with another hack to counter the updates la. so the same thing is happening again. there's a new firmware update for the nokia e90. brings it up to version 300.34.84. supposedly there's some increase in performance. updates to flashlite and the browser. built in maps 2.0. but but but.. it is supposedly unhackable. which translates to no unsigned apps. no 'free' stuff. no doing whatever u want to ur phone however u want. so the question now would be what would u do.
the easy answer would be to wait la for another few weeks until someone comes up with a hack la i guess.. ;)
on the baby front, apparently the senorita has found little jj's switch. a switch to make her laugh. hehe it so cool when it works. u just touch her there and she just giggles. its freaky. hehe if only the senorita has a similar switch, but of course not la for giggling hehe.