Train Drives Through A Bangkok Market

言之有理

公平交易

五歲的小華每次經過玩具店，都緊盯著店裡的飛機模型，看得目不轉睛。
這天，小華特別準備了一大疊玩具鈔票到店裡，想要把模型買回家……
店員：「小弟弟，你拿的不是真的錢，所以不能買喔！」
小華理直氣壯的回答：「為什麼不行？那你的飛機也不是真的啊！」
店員：「……」

二月

洛杉磯最近早晚還是很冷，大致是華氏五十度上下，這些玫瑰花很久沒去管它，似乎是等不及春天的到來。

test

test on 2-15-08

好歌欣賞 love is a many splendored thing

不同風味

何博士好山水 配上好音樂 爽 !

各位老友好好享受.

桂林山水 (2)

After saw Ming photos, I promptly visited Guilin (ha! one year ago). 桂林夜乘船逛湖 (bottom) 尚可, it is man-made. Li River from Guilin to YangShuo is wonderful. But to my surprise is the YangShuo's 印象-Liu三姊 show (top two photos) - Directed by Chang Yi-Mo. The play uses river as platform, 12 natural moutains as background, and 12 big light beams to control the 3-D space at night. Five hundreds performers are local boat people. The red color in the photo is the red cloth cover the water. It is the biggest natural theater. If you visit YangShuo, do not miss it.

(I just change PC, now my Chinese Penpower does not work. Help! Help!)

http://www.travelchinaguide.com/attraction/guangxi/yangshuo/impression-sanjieliu.htm

"Pet" girl kicked off bus for wearing leash

LONDON (Reuters) - A British bus company has apologized to a girl who is led around on a leash by her boyfriend and describes herself as a human pet after one of its drivers threw her off a bus.

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"I am a pet," she told the Daily Mail. "I generally act animal-like and I lead a really easy life. I don't cook or clean and I don't go anywhere without Dani. It might seem strange but it makes us both happy. It's my culture and my choice. It isn't hurting anyone."

More.....

離奇巧合的 千里尋父

千里尋父 40年悲歡 越女幫傭 僱主竟是爹
李金生／金門報導 中國時報 2008.01.22　
中國時報 離奇的千里尋父
　
　一位來自遙遠北越的婦人，拿著一張泛黃相片和一枚黃金戒指，來到台灣異鄉幫傭，並找尋她未曾謀面的生父。幾經波折，終在金門警方的協助下，與家住台北縣新莊市的老父相認，而老父竟是她幫佣七個月的僱主，相見不相識，悲歡離合的過程，比電影情節還要離奇。
　
這則故事的女主角，是出生在北越平凡家庭的小女孩陳氏康。她在一九八九年出嫁時，母親告訴她，其實不是她的生母，而是她的阿姨。
　
「阿姨」帶著顫抖的聲音說著，一九六七年，有個北越女孩子，在香港認識一個台灣男子，兩人異國熱戀之後，北越女子懷孕了。但因家鄉母親罹患重病，只好放下戀情，依依不捨的趕回越南探視母親。
　
當時適逢戰亂，台灣男子擔心她返回北越之後，再也無法團聚，含著眼淚拿了一張自己的相片及一枚黃金戒指，交給早已哭成淚人兒的戀人。可是，回到越南的北越女子，卻因為烽火連天的南北越內戰，再也無法回到香港與愛人相聚，就在北越生下了一名女兒，兩個月之後，重病含恨離世。
　
她在臨終時，將嗷嗷待哺的小女兒，以及一枚刻有「蔡漢朝」的黃金戒子及背後並有蔡漢朝簽名，且寫有民國廿年一月三日出生的照片，交給了她的姊姊，並說相片中的台灣人，是小女兒的親生父親。
　
陳氏康知道自己身世真相後，在內心深處許下要找到父親的心願。後來，她在越南結婚，生下一男一女，但因為老公好吃懶做，還經常在酒後對她拳打腳踢，家裡的生活支出，完全由她負擔。好不容易等到兒女長大，陳氏康決定實現她的心願，拿著那枚金戒指和父親泛黃的照片，她經由仲介公司來到台灣工作，落腳台北縣新莊市擔任看護，照顧一位罹患重病的老婆婆。
　
夜以繼日的看護工作，讓她沒有多餘的時間，找尋茫茫人海的父親，只能在夜深人靜時，拿著照片獨自垂淚。更讓她難過的是，老婆婆在七個多月之後，因為二次中風不幸去世，因此她又被仲介公司轉仲介到金門，且照片及戒指也不知去向了。
　
金城警察所外事警勤區員警，在一次例行查訪中，從她的口中得知此事，研判東西可能掉在新莊舊雇主家中，幫她打了電話，請原雇主老先生到已過世老婆婆的房間內，仔細找找看，果然在一只木櫃內，找到了一個袋子。
　
老先生也好奇甚麼東西這樣的重要，在徵求陳氏康的同意下，打開一看是一枚金戒指和一張老照片，竟全身不停顫抖，激動的問她：「妳怎麼會有兩樣東西？」
　
老先生在心情平靜之後，在電話中表示要親自將這兩樣東西送到金門，在警方的安排下，日前他搭機到了金門，當面聽取陳氏康訴說「往事」，確認前因後果之後，頓時老淚縱橫，一把抱住陳氏康，放聲大哭：「妳就是我的女兒，我是妳父親啊！」
　
老先生說他正是照片中的人，只因為一場越南內戰，阻斷異國戀情和父女親情，人生的悲歡離合，也莫過如此了。
　
被突如其來的意外，震驚得說不出話來的陳氏康，看著老父蒼白的臉龐，輕聲的叫著：「爸爸，我找你找得好苦哦！」
　
在金城警察所協助下，蔡漢朝父女做ＤＮＡ鑑定證實血緣關係，並辦理相認手續，陳氏康十六日已回越南補辦來台手續，蔡漢朝則因嚴重心臟病及多項慢性疾病，在署立台北醫院住院治療。蔡漢朝因年邁體衰無法陪愛女回越南辦手續，他希望相關單位能通融，讓她早日順利來台認祖歸宗，以盡一份為人父的責任。

Do Cholesterol Drugs Do Any Good?

Do Cholesterol Drugs Do Any Good?

This is an article that everyone should read.

業績搞不好的原因，主要有三個！

業績搞不好的原因，主要有三個！

在『業務檢討』會議中，長官經過一長串地痛心致詞之後，希望會中同仁能夠有話直說、踴躍發言。

就在一片寂靜，要上不下的尷尬氣氛中，突然一股吼聲蹦出來。有一位主管激動地起立致詞， 他說：「我們業績搞不好的原因，主要有三個：

　　　

第一，是沒後臺，就像寡婦睡覺，上面沒人。

第二，是政策多又變得快，像妓女睡覺，上面老在換人。

第三，是內部不團結，就像和老婆睡覺，自己人老搞自己人……」

沒等他說完，大家已經笑得東倒西歪了。

好聽的鋼琴小品

Richard Clayderman 1999 Live in Tokyo Classic Medley

請各位好好欣賞.

桂林山水

豆腐大人沒忘記小女子，小女子在此拜謝！

至於 Star 和小女子最近鮮少上來的原因，仍然與小女子脫不了關係。
這陣子以來小女子努力做瑜珈運動，每周到瑜珈教室報到六次，比上班五天還要勤快，這樣一來Star 的工作量就越來越大囉！

各位大人們都提到慶祝新年，小女子也不能免俗要說說自身的經歷。

在 2007 年最後一天，下班是晚上九點，外帶水餃回家吃。餐後 ~~~~~~~~~
小女子在客廳看電視 --- 已經昏昏欲睡。。。。。。
少爺在房間看電視 --- 一邊上網，不知道在做甚麼。。。。。。
老爺在餐廳看書 --- 偶爾會打瞌睡。。。。。。

突然老爺和少爺都擠到小女子身邊，這麼親熱的舉動把小女子嚇得清醒過來，原來要倒數計秒了。大家專心看完 101 的焰火後，又各自回座位，恢復正常運作，好像一切都沒發生過一樣！
不過想到他們二位，在讀秒時會與小女子共渡，心意已屬難得，特為文表彰！

僅此與各位大人分享，一年的開始，越來越好，越來越順！

鼠年快樂-玫瑰花車

新年一早二點年半起床，送小孩去花車遊行的準備, 兒子 boy scout 幫拿牌子遊行,八點起來看電視,看了六小時(重播三次)還是沒看到兒子的晝面,下午去看遊行後的花車展示,在華航的祥獅前照了相,希望大家鼠年如意

Happy Holiday !!!!!!

2008 新年快樂

╭☆╮★╭☆╮ ╭☆╮★╭☆╮
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　╭‧放煙火‧╮│╭‧放煙火‧╮
☆　　　　　　　★　　　　　　　☆
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　╭‧放煙火‧╮│╭‧放煙火‧╮
☆　　　　　　　★　　　　　　　☆
　　　　　　　　│
　　　╭‧☆‧╮∣╭‧☆‧╮
　　☆　　　　　★　　　　　☆
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　☆　　　　　　∣　　　　　　☆
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*****台北101世紀煙火秀*****
　　　　預祝 2008年平安快樂
Happy new year and many more to come !

Happy New Year!

Auld Lang Syne - Lyrics

Don't be left speechless when the bells chime and everyone crosses arms to sing in the New Year. These are the words to Auld Lang Syne.
Meaning: auld lang syne - times gone by

English translation from Robert Burns’ (Scottish) verses:
Should old acquaintance be forgot,and never brought to mind ?Should old acquaintance be forgot,and auld lang syne ?
CHORUS:
For auld lang syne, my dear,
for auld lang syne,
we'll take a cup o’ kindness yet,
for auld lang syne.
And surely you’ll buy your pint cup!And surely I’ll buy mine!And we'll take a cup o’ kindness yet,for auld lang syne.
CHORUS
We two have run about the hills,and picked the daisies fine ;But we’ve wandered many a weary foot,since auld lang syne.
CHORUS
We two have paddled in the stream,from morning sun till dine (dinner time) ;But seas between us broad have roaredsince auld lang syne.
CHORUS
And there’s a hand my trusty friend!And give us a hand o’ thine!And we’ll take a right good-will draught,for auld lang syne.
CHORUS

上學? 放學?

爸爸和小華一同參觀一個攝影展覽。
一幅名為“上學途中”的照片吸引了他們，拍攝的是一群孩子 背著書包嘻嘻爆笑地走著，十分生動。
可是小華說：“題目寫錯了！”
爸爸問：“怎麼錯了？”
小華說：“應該是‘放學途中’，上學哪有這麼開心！”

生命 --- 好短文共享

以下的故事，可能令你改變對生命的看法：

我和一位朋友傾談，他說雖然有兩份工作，而每月的收入僅僅稍逾一千美元，但他已很高興了，我很奇怪他還可以那麼開心，因為他的收入微薄，要節衣縮食才可以供養他年邁的父母，他的岳父母，太太，兩個女兒共八個人，還有一般家庭的各項開支. 他解釋說，是因為一次在數年前他在印度目睹的事件。

當時他因為一次重大的挫折、心情低落，所以到印度散心，他說他親眼看到一個印度婦人用割肉刀, 將她的兒子的右手切下了。那婦人無助的眼神，那四歲的稚童痛苦的呻吟，至今仍令他難以釋懷。

你可能會問：為什麼那母親要這樣做?是否她的孩子太頑皮，或是他的手受到感染? 都不是，原來只是為了行乞！那絕望母親特意把孩子弄成傷殘，使他可以在街上行乞，可以有東西吃. 我的朋友嚇呆了，他把他吃到一半的麵包放下，隨即有五六個小孩湧至，爭著這片佈滿沙石的麵包，就如面對飢餓時的自然反應。

他對這情景很吃驚，他著他的導遊開車把他送到最近的麵包店，他去到其中兩家，把它們所的麵包都買下來，麵包店的老闆很愕然，不過還是願意把所有都賣給他。他花了不足一百元，就買到約四百塊麵包(即每塊少於25仙)，又用了一百元買一些日用品。

於是，他坐在一部載滿麵包的貨車往街上去，當他分發麵包和日用品給那些大部份是傷殘的兒童時，他們都報以歡喜和鞠躬，就是這樣，他在生命中第一次想到人們怎麼可以為一片價值不足25分的麵包而放棄自己的尊嚴。

他開始對自己說他是多麼的幸運 ─ 他有個完整的身軀，有一份工作，有個家庭，有機會抱怨食品的好與壞，有機會穿衣服，有機會擁有很多這些人沒有的東西。現在，我開始想到，和感受到我的生命是否真的那麼差？也許…我就覺得不是那麼差，你呢？
下一次你覺得自己的生命很差的時候，想想那個因為行乞失去了一隻手的小孩吧！『滿足感』不是來自滿足於你想要的，而是了解到你所擁有的是那麼多。

當快樂之門關上時，另一道門就會打開，但很多時我們只盯著已關的門而沒有看到已為我們打開的那道門。

的確，我們要到失去時才知到我們擁有，但我們亦要等到東西來臨時才知道我們沒有它們。

對人付出所有的愛, 並不能確保他們同樣愛你！

不要期望愛人會有回報；只管讓愛,在他們的心中成長，但如果沒有成長，那便滿足於,愛已在你心中成長。

最快樂的人不一定擁有最好的東西，他們只是把握和珍惜所有他們得到的東西。那些會哭、會受傷害、曾經尋覓、曾經嘗試的人是快樂的，因為他們珍惜那些曾經擦過他們生命的人的重要性。

愛由一個微笑開始，經過擁吻而成長，以一滴眼淚結朿，最美好的將來永遠建基於已被遺忘的過去.

你的生命不會順利，除非你放下你過去的失敗和痛苦。

Merry Christmas & Happy New Year

發現年青人大都 snowboarding, 已很少人ski, 我是人老心不老

好歌欣賞 Without You -- Mariah Carey

Without you

No, I can't forget this evening
Oh, your face as you were leaving
But I guess that's just the way the story goes
You always smile
But in your eyes your sorrow show
Yes, it shows

No, I can't forget tomorrow
When I think of all my sorrow
When I had you there, but then I let you go
And now it's only fair that I should let you know
What you should know

I can't live, if living is without you
I can't live, I can't give anymore
I can't live, if living is without you
I can't live, I can't give anymore

Merry Christmas to you!!!

The following link is to one of the best Christmas jingles I've ever seen - if it doesn't get you in the mood for Santa Claus, you're hopeless. Don't know who did the graphics but the song was originally recorded by the Drifters in 1954. Turn the volume up - these reindeer can sing. Happy Holidays.


http://www.thecompassgroup.biz/merryxmas.swf

感人的聖誕歌 --- Christmas Shoe 聖誕鞋

Christmas Shoe 聖誕鞋 歌詞很感人

今天在美國的一位友人傳給我這首歌, 以及他在部落格裡說他翻譯這首歌時的心情...

"可能隨著年紀成長,我已經很久沒有被任何一首歌所感動了而就在幾天前我三十二歲的生日時,在開車的路上聽廣播聽到了這一首 Christmas Shoes (聖誕舞鞋),它的歌詞感動了我。這動人心旋的歌詞讓我決定將它翻成中文。
我雖試著照字翻,但也更試著用心翻,翻著翻著眼淚竟掉下來了。好久好久沒有這麼的sentimental 了。
希望大家會喜歡。喜歡的話 foward it on..."



It was almost Christmas time,
聖誕節就快到了
There I stood in another line
我又在那兒排隊
Tryin' to buy that last gift or two,
準備買最後的一、兩份禮物
Not really in the Christmas mood
還沒有真的感覺聖誕的氣紛當中
Standing right in front of me was
排在我前面的是一位
A little boy waiting anxiously
等到很急的小男孩
Pacing 'round like little boys do
就像一般小男生一樣的動來動去的
And in his hands he held a pair of shoes
而他的手中提了一雙鞋子
His clothes were worn and old,
他身上的衣服又破又舊
He was dirty from head to toe
他從頭到腳都髒髒的
And when it came his time to pay
而當排隊排到他時
I couldn't believe what I heard him say
我簡直無法相信我所聽到他說的話
Sir, I want to buy these shoes
先生,我想買這雙鞋
For my Mama, please
是要給我媽媽的、拜託你
It's Christmas Eve and these shoes are just her size
今天是聖誕夜而這雙鞋的尸寸剛好適合她
Could you hurry, sir,
請麻煩快點,先生
Daddy says there's not much time
爸爸說時間不多了
You see she's been sick for quite a while
因為媽媽已經病了很久了
And I know these shoes would make her smile
而我知道這雙鞋子可以讓她開心
And I want her to look beautiful if Mama meets Jesus tonight
而且如果今晚媽媽去見耶穌的話我要讓媽媽看起來漂亮
He counted pennies for what seemed like years
小男孩一毛一毛的數錢、數了好久
Then the cashier said, "Son, there's not enough here
"然後店員說,”小男孩、這兒的錢不夠”
He searched his pockets frantically
小男孩很急,拼命的搜口袋
Then he turned and he looked at me
然往他轉向身來看著我

He said Mama made Christmas good at our house, though most years she just did without
他說媽媽這幾年下來在什麼都沒有的情況下將家裡聖誕節打點的很好
Tell me Sir, what am I going to do
先生,能不能告訴我、我現在該怎麼辦?
Somehow I've got to buy her these Christmas shoes
無論如何我一定要買這雙聖誕舞鞋給她
So I laid the money down,
所以我把錢拿出來
I just had to help him out
我一定要幫助他
I'll never forget the look on his face when
我將絕對無法忘記他臉上那時的表情
He said Mama's gonna look so great
他說媽媽將會很漂亮
Sir, I want to buy these shoes
先生,我想買這雙鞋
For my Mama, please
通是要給我媽媽的、拜託你
It's Christmas Eve and these shoes are just her size
今天是聖誕夜而這雙鞋的尸寸剛好適合她
Could you hurry, sir,
請麻煩快點,先生
Daddy says there's not much time
爸爸說時間不多了
You see she's been sick for quite a while
因為媽媽已經病了很久了
And I know these shoes would make her smile
而我知道這雙鞋子可以讓她開心
And I want her to look beautiful if Mama meets Jesus tonight
而且如果今晚媽媽去見耶穌的話我要讓媽媽看起來漂亮
I knew I'd caught a glimpse of heaven's love
我當時馬上就知道我目瞥了天堂聖潔的愛
As he thanked me and ran out
當小男孩向我道謝後就趕著走了時
I knew that God had sent that little boy
我知道小男孩是上帝派來
To remind me just what Christmas is all about
提醒我聖誕的意義是什麼

讀者文摘

http://www.readersdigest.com.tw/

浮世繪

這天和同事閒聊，小張談起她和丈夫相處的點滴。

小張：親愛的，結婚這麼多年，你都沒有送我禮物。今年情人節，你就破例，讓我高興一下好嗎？

小張丈夫：你沒聽說結婚是愛情的墳墓嗎？

小張：但也要掃墓啊！

丈夫：清明節還沒到。

**********

姑媽年紀不小，有一次我去看她，她戴著帽子來開門。
我有點意外，問她：「你要出門？」
她回答說：「不。每次有人來，我都戴上帽子，如果是不想見的人，就說正好要外出；是你的話，就說剛剛進門。」

**********

開懷篇

招聘面試快結束時，人力資源部主管問剛從大學畢業的工程師：「你想要多少薪水？」
工程師想了一會兒，大膽地回答：「嗯，年薪十二萬五千美元可以嗎？」
主管說：「好啊，再給你每年五個星期的有薪年假，醫療和牙科費用全數報銷，退休金百分之百由公司支付，再送你一輛保時捷跑車，你覺得怎樣？」
工程師吃驚地說：「哇，你在開玩笑嗎？」
主管說：「是的，你不是嗎？」

**********

一位很渴望結婚的年輕人對朋友說：「每個我帶回家的女朋友，母親都不喜歡。我該怎麼辦？」
朋友建議說：「這個好辦，只要找一個各方面都像你母親的，就可以了。」
「我試過了，但是我父親又不喜歡。」

湖南，悠縣，网岭鎮

鎮政府大樓，黨書記和鎮長請我們吃中飯。看看湖南特有的大碗菜，全部只用大碗公。
三杯紅酒之外是他們自己用糯米釀的米酒。(紅酒是我們隨車帶去的).
黨書記和鎮長官位平行，實際上書記才是掌權者。

是誰把衣服晾在堂堂辦公大樓??

恭喜 - Chemistry 65- Anniversary

謝謝阿炫及豆腐的耕耘, 請大象多多上網, Post. 年紀超過50歲的人群,很少有Blogger site.

糖果是公的還是母的?

答案：母的，因為糖果會生螞蟻 <------答案在這裡，ｈｅ。。ｈｅ。。。

I want more....

Wall Street traders gather to protest bonus drop. Look at their cars...

好歌分享 whitney houston : i will always love you

I will always love you

lyrics:

I will always love you

If I should stay
I would only be in your way
So Ill go, but I know
Ill think of you every step of the way

Chorus:

And I will always love you
I,will always love you
You, my darling you, you

Bitter sweet memories
That is all Im taking with me
So goodbye, please dont cry
We both know Im not what you need

Chorus

I hope life treats you kind
And I hope you have all you dreamed off
And I wish to you joy and happiness
But above all this I wish to you love

Chorus

高雄85大樓

沉魚回娘家 - 高雄.....
夜宿金典酒店。

台南魚塭

一大早去台南安南區的魚塭，意外撈到兩條虱目魚。

歡迎留美學人 明炫兄及落雁嫂 11/19 凱旋歸國

歡迎留美學人 明炫兄及落雁嫂, 於本月(11月) 19日星期一, 凱旋歸國.

為感謝明炫兄夫婦對本班及本部落格的支持與貢獻, 在下冒昧代表本班同學已於兩週前買好兩碗落雁嫂指定的'阿宗麵線' 及兩碗'劉山東牛肉麵', 只待兩位學人返抵國門後, 即可立即歡樂享用.

兩位學人如果感覺, 在下敝人我的盛情, 不知何以為報的話, 那就大顆的鑽石買個幾顆,或送些金條 's,金磚 's , 在下都會勉為接受.... 哈.

至於, 我們其他同學還有什麼要款待這兩位學人的也請早日準備, 因為這兩位學人將訂於11月底返回僑居地.

America's Got Talent - Terry Fator

You really do have to look at all five of this guys acts,,,, he is unbelievable.

Watch each of the 5 short movie clips......you won't be sorry....this guy is good....

This guy (??) won $1,000,000.00 on America's Got Talent...and you'll see why!!!!


http://www.youtube.com/watch?v=hnVDHzUAj30
http://www.youtube.com/watch?v=kTSFhIv9bYg
http://www.youtube.com/watch?v=WGH-5-Gvjng
http://www.youtube.com/watch?v=iDoKF1NZ8P8
http://www.youtube.com/watch?v=CuoR6OM6KxA&NR=1

November 15, 2007

Why FAS 157 strikes dread into bankers

My dear Friends,
I wrote "Please Protect Yourself" on November 4, 2007 at this blog. I think all of you are still totally unprepared for the new FAS 157 rule for the banks. It is all right if you never heard about it. But, this is probably the last chance you can protect your own bank deposite. FAS 157 will be officially announced on November 15, 2007. Therefore, you got to read this article now without any delay. You know what to do with your own money. The bank is just at the corner of the street. Please take a read of the article below:

Protect yourself from the worst and hope for the best. Good luck to all of us.

Just when we hoped the worst was over . . .William Rees-Mogg

We have heard about sub-prime mortgages; we have heard about collateralised debt obligations (CDOs); we have heard about banks writing down their assets; we have heard about global bankers resigning; we have heard about Northern Rock and the first run on a British bank in 140 years.

The risk of a worldwide banking crisis – one that is particularly damaging to mortgages, private equity, hedge funds and the banks themselves – is higher than it was a month ago, and the storm is rising.

This is still an emerging story. It was not until last Wednesday that The Financial Times led on the legal provision that CDOs can be liquidated by the senior holders when they go into default. That could lead to a fire sale of CDOs and still larger defaults.

Yet this, as important as it could be, is not the biggest threat. Few non-bankers have heard of FAS 157 and 159, yet these are the regulations that will set the terms on which the banks will value their assets. The trouble with FAS 157 and 159 is that they are perfectly reasonable regulations in themselves which could have disastrous, though unintended, consequences.

What are FAS 157 and 159? They are the new United States (Federal) accounting standards that have been introduced to regulate the valuation of bank assets. These valuations are of crucial importance because they are the basis of all bank lending: no assets, no lending; no lending, no bank. According to an informative article in The Financial Times, the new standards will apply fully from Thursday. Many US banks have adopted them already. All US quoted banks will have to publish asset figures in conformity with FAS 157 by next spring.

The new rules divide bank assets into three “levels”, according to the freedom with with which they can be bought or sold. Level-one assets, which are easy to value or trade, have to have quoted prices in active markets such as US government bonds or gold bullion. Level two is an intermediate stage; these assets are not as fully marketable as level one, but still sufficiently tradeable to have a definite value.

Level-three assets – usually artificial financial instruments – are the problem. They do not have quoted prices in active markets. They have to be valued by reference to the bank’s own models. According to the analyst Martin Hutchinson, who had analysed some of the US banks, the holdings of level-three assets are substantial. Lehman has $22 billion; Bear Stearns $20 billion; JP Morgan Chase $60 billion. Even these figures may be understated, since the banks have themselves decided whether assets belong to level three or the more acceptable level two, and they have an interest in placing as little in level three and as much in level two as they reasonably can.

Martin Hutchinson has also analysed the assets of Goldman Sachs. The bank has disclosed $72 billion of level-three assets, out of total assets of $900 billion. That seems reasonable enough, but it compares with Goldman Sachs’s capital of $36 billion. Any substantial write off of level-three assets would impact on Goldman Sachs net asset value.

One cannot say that FAS 157 is only an American regulation and the banks of other countries would not therefore be affected. Most global banks already have a listing in the United States that would therefore be subject to US accounting standards. Those that do not will be judged by FAS 157 as the international standard. From now on all major banks will have to declare their assets in the FAS 157 form with its division into different levels by marketability.

No doubt this is the reform that should have been introduced years ago; that would have saved a great deal of agony and some abuse. But FAS 157 is coming into effect at a most inconvenient time. The sub-prime mortgage defaults have already undermined confidence in mortgage banked securities. These form a significant part – perhaps about a quarter – of all level-three assets. Level three also includes higher-quality mortgages and leveraged bridged loans for buyouts.

The global banking system now faces the risk of a general flight towards cash and liquid level one assets on a scale that has not been seen since the early 1930s. Already British banks are showing signs of near panic. I hear of London banks going back on recently agreed loans to parties of good credit, presumably on orders from head office.

There have also been cancellations of offers of credit cards that had already been approved. One need have little sympathy for the US investment banks; they found it profitable to make speculative loans, and now they are paying the price.

Even if ordinary mortgages do continue to be offered – and they are bound to be restricted – sub-prime mortgages will no longer be available for first-time buyers. Yet the housing market depends on people being able to sell their first houses when they trade up to their second. If all banks are anxious to protect their cash reserves, and to reduce their level-three assets, that will make ordinary borrowing difficult and level-three borrowing impossible. Probably the downturn will spread into stock markets, even though it did not originate in stock market speculation.

It is far too late to cancel FAS 157 and 159, even if that were desirable. The concept of different levels for bank assets has been introduced to the banking system and the defaults on sub-prime mortgages have lowered the acceptability of all level-three assets. No one knows what they are worth and hardly anyone wants them.

Commercial banking, with its large customer base, is in better shape than investment banking, but will also be affected. FAS 157 may prove an historic regulatory blunder.

http://www.timesonline.co.uk/tol/comment/columnists/william_rees_mogg/article2852547.ece

看看厲害的新加坡英文....從1, 2, 到10, 再倒數到1.

Exclusive Singlish Skill...

Even the Englishmen cannot construct sentences using numerals, which is an exclusive skill invented and owned only by Singaporeans.

Ah Beng was asked to construct sentences using 1,2,3,4,5,6,7,8,9,and 10... He not only did it to 10, but did it backwards to 1......!!! This was how it was done.

“1 day I go 2 climb up a 3 outside a house to peep. But the couple saw me, so I panic and 4 down. The man rushed out and wanted to 5 with me. I ran until I fell 6 and threw out. So I went into 7 eleven and grabbed some 8 to throw at him. Then I took a 9 and try to stab him. 10 god he ran away!!! So I put the 9 back and paid for the 8 and left 7 eleven. Next day, I called my Boss and say I’m 6. He said 5, tomorrow also no need to come back 4 work. He also told me to climb a 3 and jump down. I don't understand......I so nice 2 him. But I don't know what he 1.

文化不同

日本的一家公司要招聘員工，過一段嚴格的面試~ 公司從500多應徵者中選出了5 位佼佼者。 放榜這天，一個叫水原的青年看見榜上沒有自己的名字，悲痛欲死， 回到家中便要切腹自殺，幸好親人及時搶救，水原沒有死成。 正當水原悲傷之時，從公司卻傳來好消息： 水原的成績原是名列前矛的，只是由於電腦的錯誤導致了水原的落選。 正當水原一家人欣喜若望之時，從公司又傳來消息：水原被公司除了名。原因很簡單， 公司老闆說:如此小的挫折都受不了，這樣的人在公司是不成什麼大事的。
******************
美國的一家公司要招聘員工，過一段嚴格的面試~ 公司從500多應徵者中選出了5 位佼佼者。 放榜這天，一個叫湯姆的青年看見榜上沒有自己的名字，悲痛欲死， 回到家中便要舉槍自盡，幸好親人及時搶救，湯姆沒有死成。 正當湯姆悲傷之時，從公司卻傳來好消息：湯姆的成績原是名列前矛的， 只是由於電腦的錯誤導致了湯姆的落選。 正當湯姆一家人欣喜若望之時，美國各大州的之知名律師都來到湯姆的家中， 他們千方百計的鼓動湯姆到法院告這家公司，聲稱需支付巨額的精神賠償， 並自告奮勇的充當湯姆的律師。
***********************
德國的一家公司要招聘員工，過一段嚴格的面試~ 公司從 500 多應徵者中選出了5 位佼佼者。 放榜這天，一個叫蕭恩的青年看見榜上沒有自己的名字，悲痛欲死，回到家中便要跳河自殺，幸好親人及時搶救，蕭恩沒有死成。 正當蕭恩悲傷之時，從公司卻傳來好消息：蕭恩的成績原是名列前矛的，只是由於電腦的錯誤導致了蕭恩的落選。正當蕭恩欣喜若望之時，蕭恩的父母卻堅決反對自己的兒子進入這家公司。 他們的理由不容置疑：這家公司作業效率如此差勁，進入這家公司對兒子的成績毫無益處。
*********************
中國的一家公司要招聘員工，過一段嚴格的面試， 公司從500多應徵者中選出了5 位佼佼者。 放榜這天，一個叫志強的青年看見榜上沒有自己的名字，悲痛欲死， 回到家中便要懸樑自盡，幸好親人及時搶救，志強沒有死成。 正當志強悲傷之時，從公司卻傳來好消息：志強的成績原是名列前矛的，只是由於電腦的錯誤導致了志強的落選。正當志強欣喜若望之時，志強的父母來到公司，一看到公司老闆便跪了下來， 他們含淚的說真多虧你救了我兒子，我們家世世代代感謝你的大恩大德！
**************************
台灣的一家公司要招聘員工，過一段嚴格的面試， 公司從500多應徵者中選出了5 位佼佼者。放榜這天， 一個叫俊傑的青年看見榜上沒有自己的名字，悲痛欲死， 回到家中便要磕藥自殺，幸好親人及時搶救，俊傑沒有死成。 正當俊傑悲傷之時，從公司卻傳來好消息：俊傑的成績原是名列前矛的，只是由於電腦的錯誤導致了俊傑的落選。正當傑欣喜若望之時， 媒體大幅報導此事，並邀請俊傑參加各種CALL IN評論及綜藝節目， 全國輿論熱烈討論電腦為何會出錯，是否有黑道介入或官商勾結， 至於俊傑到底有沒有去該公司上班，根本沒有人關心...

花東之旅

I came across these videos by accident:

20070921花東之旅(上)
http://video.yahoo.com/video/play?ei=UTF-8&gid=787082&vid=1231513&b=2

20070921花東之旅(中)
http://video.yahoo.com/video/play?gid=787082&b=1&vid=1236585&p=

20070921花東之旅(下)
http://video.yahoo.com/video/play?ei=UTF-8&p=&gid=787082&vid=1237373&b=0

There are several other videos are pretty good too.

On my way to Hong Kong

Guys, I took a flight to Hong Kong on Nov. 3 and then enter China by car. Will post any picture that I find interesting, I may also take requests to post anything you guys want to see.

Visit my son's dorm

Visited my son's dorm at school recently. Share the picture with you.

My son, open-mouthed zombie, in the back with wild-girls zombies and Indiana Jones. Please introduce normal girl friend to him. I am so worry. (Halloween at dorm's hallway)

Please Protect Yourself

THE BEAR'S LAIR
Level 3 storm about to hit Wall Street
By Martin Hutchinson

There's a mystery on Wall Street. Merrill Lynch wrote off $8.4 billion in its subprime mortgage business, a figure revised up from $4.9 billion, yet Goldman Sachs reported an excellent quarter and didn't feel the need for any write-offs. The real secret of the difference is likely to be in the details of their accounting, and in particular in the murky world, shortly to be revealed, of their "Level



3" asset portfolios.

Both Merrill and Goldman have Harvard chairmen - Merrill's Stan O'Neal from Harvard Business School and Goldman's Lloyd Blankfein from Harvard College and Harvard Law School. Thus it's pretty unlikely their approaches to business are significantly different - or is a Harvard MBA really worth minus $8.4 billion compared with a law degree? (The special case of George W Bush may be disregarded in answering that question.)

We may be about to find out. From November 15, we will have a new tool for figuring out how much toxic waste is in investment banks' balance sheets. The new US accounting rule SFAS157 requires banks to divide their tradable assets into three "levels" according to how easy it is to get a market price for them. Level 1 assets have quoted prices in active markets. At the other extreme Level 3 assets have only unobservable inputs to measure value and are thus valued by reference to the banks' own models.

Goldman Sachs has disclosed its Level 3 assets, two quarters before it would be compelled to do so in the period ending February 29, 2008. Their total was $72 billion, which at first sight looks reasonable because it is only 8% of total assets. However the problem becomes more serious when you realize that $72 billion is twice Goldman's capital of $36 billion. In an extreme situation therefore, Goldman's entire existence rests on the value of its Level 3 assets.

The same presumably applies to other major investment banks - since they employ traders and risk managers with similar educations, operating in a similar culture, they probably have Level 3 assets of around twice capital. Citigroup, J P Morgan Chase and Bank of America may have less since their culture is different; before 1999 those institutions were pure commercial banks and a substantial part of their business still lies in retail commercial banking, an area in which the investment banks are not represented and Level 3 assets are scarce.

There has been no rush to disclose Level 3 assets in advance of the first quarter in which it becomes compulsory, probably that ending in February or March 2008. Figures that have been disclosed show Lehman with $22 billion in Level 3 assets, 100% of capital, Bear Stearns with $20 billion, 155% of capital, and J P Morgan Chase with about $60 billion, 50% of capital. However those figures are almost certainly low; the border between Level 2 and Level 3 is a fuzzy one and it is unquestionably in the interest of banks to classify as many of their assets as possible as Level 2, where analysts won't worry about them, rather than Level 3, where analyst concern is likely....more

http://www.atimes.com/atimes/Global_Economy/IK03Dj03.html

這個經理很厲害....看他如何寫員工的評量表....哈

The following is an appraisal of a manager of his subordinate, Bob Smith. It was an open appraisal done face to face. This was what Bob’s manager wrote:

01. Bob Smith, my assistant programmer, can always be found
02. hard at work in his cubicle. Bob works independently, without
03. wasting company time talking to colleagues. Bob never
04. thinks twice about assisting fellow employees, and he always
05. finishes given assignments on time. Often he takes extended
06. measures to complete his work, sometimes skipping coffee
07. breaks. Bob is a dedicated individual who has absolutely no
08. vanity in spite of his high accomplishments and profound
09. knowledge in his field. I firmly believe that Bob can be
10. classed as a high-caliber employee, the type which cannot be
11. dispensed with. Consequently, I duly recommend that Bob be
12. promoted to executive management, and a proposal will be
13. executed as soon as possible.
...
...
...
...
...
...
...
...
...

The appraisal speaks well of Bob Smith; where in fact the Bob Smith is not of the calibre as described. So the appraisor sent this foot note to the Human Resource Manager.

Footnote To The Human Resources Department: Bob Smith was standing over my shoulder while I wrote the report sent to you earlier today. Kindly read only the odd numbered lines only.

蛇蹤

今天在朋友家，有人來敲門說他們散步經過對面鄰居的前院時看到這條蛇，要我們要小心。順手拍了這兩張。打電話到animal control 說有蛇，她問是不是響尾蛇?我說NO，結果她的結論是「沒關係，牠自己會回家」。

我猜這八成可能是誰養的寵物偷偷溜出來了。

Not from me

Notification--

If any one recently received a weird mail sending from my e-mail address, with title: 珍藏...
That was not from me. My mail box was hacked, DAMN IT!

好歌欣賞 You've got a friend

You've got a friend　
　　
1. by : Celine Dion & Carol King & Gloria Stefan & Shanaia
http://www.youtube.com/watch?v=dCrw93zVfGk

2. by : James Taylor & Carole King
http://www.youtube.com/watch?v=aUzgToWoA-U


lyrics :
When you're down and troubled
And you need a helping hand
And nothing, nothing is going right
Close your eyes and think of me
And soon I will be there
　　to brighten up even your darkest nights

You just call out my name
And you know wherever I am
I'll come running to see you again
Winter, spring, summer, or fall
All you have to do is call
and I'll be there, yeah, yeah, yeah
You've got a friend

If the sky above you should turn dark and full of clouds
And that cold north wind should begin to blow
Keep your head together and call my name out loud
And soon I will be knocking upon your door
You just call out my name
And you know wherever I am
I'll come running to see you again
Winter, spring, summer or fall
all you got to do is call
and I'll be there, yeah, yeah, yeah

Hey, ain't it good to know that you've got a friend?
People can be so cold
They'll hurt you and desert you
Well they'll take your soul if you let them
Oh yeah, but don't you let them

You just call out my name
And you know wherever I am
I'll come running to see you again
Oh babe, don't you know that
Winter, spring, summer or fall
Hey now, all you've got to do is call
Lord, I'll be there, yes I will
You've got a friend
You've got a friend
Ain't it good to know you've got a friend
Ain't it good to know you've got a friend
You've got a friend