Profile

Cover photo
Anand Sivakumar
Works at Rogers Communications
Attended Queen's University
Lives in Toronto, Ontario
118 followers|42,036 views
AboutPostsPhotosVideos

Stream

 
 
Please subscribe, comment, share, and like my video! The song I'm covering is Stay With Me by Sam Smith, and it's accompanied by the ukulele. Thank you for any support! :) 
View original post
1
Add a comment...

Anand Sivakumar

Shared publicly  - 
1
Add a comment...

Anand Sivakumar

Shared publicly  - 
 
The smack down's great to watch. Its unfortunate though that Peter Thiel spent most of his time on an ideological argument rather than bringing up (or allow the moderator to bring up) topics where he could clearly lay out the solutions and vision he so often claims he has. 
1
Add a comment...

Anand Sivakumar

Shared publicly  - 
 
$99 gaming console funded from kick-starter - o and it reached its target investment in less than 12 hours
2
Daniel De Sousa's profile photoAnand Sivakumar's profile photo
4 comments
 
That's fair - true android is hackable - but I think the point is that there is a framework available within which a certain breed of "hack" is acceptable to the end-user. At least, I would hope as much. 

Last thing I'd want is my big screen playing porn when I actually intended to play the lion king
Add a comment...
In his circles
353 people
Have him in circles
118 people
Zeeshan Pandjou's profile photo
Tiffany Chui's profile photo
Stephanie Hamilton's profile photo
Nitin Khandelwal's profile photo
Khaled Nounou's profile photo
Justin Lee's profile photo
Hasan Mujtaba's profile photo
Remya Pillai's profile photo
Monisha Sharma's profile photo

Anand Sivakumar

Shared publicly  - 
 
Future will be awesome. Future is so unpredictable. Future is scary. We don’t know what the next few years will bring let alone next decades. But I challenged the world’s greatest minds to deal with that daunting task and gathered their opinions to show us the future in the next 25 years. In 12 different aspects of our lives. The future makers will tell you about it. Today.
1
Add a comment...

Anand Sivakumar

Shared publicly  - 
1
Add a comment...

Anand Sivakumar

Shared publicly  - 
 
For all the debate around the impact of social media on the Arab Spring – and Patrick McCurdy is compiling an excellent reading list on that topic – when a revolutionary movement is taking off in a no...
1
Add a comment...

Anand Sivakumar

Shared publicly  - 
 
One surefire way to make sure your company gets out in front of the E3 buzz? Launch a pre-pre-E3 press conference, of course.
1
Add a comment...

Anand Sivakumar

Shared publicly  - 
 
 
I hope people will pay attention to the LIBOR investigation -- the latest and perhaps the biggest banking scandal of our time. It is yet another evidence of how concentrated, powerful, and corrupt the financial sector has become. We have designed a financial system that allows a handful of bankers to manipulate rates that affect the prices of hundreds of trillions of dollars of interest rate swaps and derivatives, as well as borrowing costs for most participants in the world economy.

(See this WSJ article about how LIBOR affects your borrowing costs: http://online.wsj.com/article/SB10001424052702303684004577506944119336650.html?mod=googlenews_wsj)

A key question is: how many of the 18 banks who set LIBOR rates every day were involved in the effort to manipulate the rates to assist the traders within their firm to profit from their derivatives bets? How long did this go on? Who lost money and who made money as a result of the manipulation?

Barclay's, one of the world's largest banks with more than $2 trillion in assets, has admitted that 14 of its traders were involved. Executives are resigning, and Barclay's has been fined $450 million by regulators. Criminal liabilities may be investigated. Civil lawsuits could seek billions or tens of billions in damages.

Given the evidence that LIBOR manipulation has been happening for years, and given the constant movement of employees in the financial sector from one bank to another, I will be shocked if most of the other 18 banks aren't also found to be complicit in this massive scam. I'll try to find out how large each bank's position is in interest rate derivatives--since that will in a way measure each firms incentive to manipulate.

Here are the 18 banks that set the LIBOR rates every day:

Bank of America
Bank of Tokyo-Mitsubishi UFJ Ltd
Barclays Bank plc
BNP Paribas
Citibank NA
Credit Agricole CIB
Credit Suisse
Deutsche Bank AG
HSBC
JP Morgan Chase
Lloyds Banking Group
Rabobank
Royal Bank of Canada
Société Générale
Sumitomo Mitsui Banking Corporation
The Norinchukin Bank
The Royal Bank of Scotland Group
UBS AG

One banking executive said this is the tobacco moment for the banking industry. It could result in astonishingly large fines, in addition to potential criminal prosecutions. (According to Wikipedia, the Tobacco Master Settlement Agreement of 1988 between the 4 largest tobacco companies and 46 state attorneys general resulted in $208 billion in payments over 25 years.)

While many European observers are looking for an Alexander Hamilton-like figure to help convince the various countries to pool their debts in order to get through the Euro crisis, I'm rather looking for a Teddy Roosevelt-like character to emerge here in the U.S. who can understand the devastating impact that these trillion dollar casino banks have on the real economy, and who will find a way to break up the too big to fail - too complex to manage financial instutitions, outlaw credit default swaps, restore Glass-Steagall, and reboot our Banking System so that it once again serves the real economy instead of sucking all the capital out of the real economy to serve its own interests as a derivatives-focused profit center.
17 comments on original post
1
Add a comment...
People
In his circles
353 people
Have him in circles
118 people
Zeeshan Pandjou's profile photo
Tiffany Chui's profile photo
Stephanie Hamilton's profile photo
Nitin Khandelwal's profile photo
Khaled Nounou's profile photo
Justin Lee's profile photo
Hasan Mujtaba's profile photo
Remya Pillai's profile photo
Monisha Sharma's profile photo
Education
  • Queen's University
    Masters of Business Administration
  • Birla Institute of Technology
    Bachelor of Engineering
Basic Information
Gender
Male
Work
Employment
  • Rogers Communications
    Emerging Business, present
Places
Map of the places this user has livedMap of the places this user has livedMap of the places this user has lived
Currently
Toronto, Ontario
Previously
Manama, Bahrain - Pune, India
Links
Other profiles