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Ground Zero Of Refugee Anxiety Pick of the day

Takis Würger | Der Spiegel | 28th September 2016
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Diary of a month in Clausnitz, a secluded farming village in eastern Germany where a crowd of residents tried to turn away a busload of refugees. “Clausnitz is not a typically German place. Clausnitz is typical for what Germany used to be, quite a long time ago. And the people who live here realize that. The refugees divided the town into two camps: half wants to help the refugees and half wants to be rid of them. In that regard, Clausnitz is extremely representative of the Germany of today” (6,100 words)

How Does The Electoral College Work? World

Jonn Elledge | New Statesman | 28th September 2016
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Voters in the United States do not elect the president directly. Each state chooses “electors” pledged to a particular candidate. These electors make up the Electoral College that elects the president. Electors sometimes change sides in the Electoral College, and there is no federal law preventing them from doing go. Small states are over-represented in the Electoral College, as they are in Congress. A vote in California is worth less than a third of a vote in Wyoming (1,300 words)

How Goldman Sachs Lost $1.2 Billion Of Libya’s Money Money

Kit Chellel & Matthew Campbell | Bloomberg | 29th September 2016
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What is the duty of a bank towards a stupid client? The Libyan state investment authority, backed by $60 billion of oil wealth, invested $1.2 billion with Goldman Sachs, lubricated by some fancy dinners. According to the Libyans, they thought they were buying blue-chip shares. But Goldman sold them derivatives which lost all their value within a year. Now the Libyans want their money back. According to their lawyers, “they barely understood anything at all” about finance (5,600 words)

Video of the Day: Slow Wave

The worst insomnia ever. Animation by Andy Kennedy (3’28”)
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To give a reason for anything is to breed a doubt of it

William Hazlitt
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