Thursday, September 30, 2010

Rosia Montana and Andrei Daescu

Life is very strange. This is Romania week.
This week I have a talented tennis player, Andrei Daescu, housed in my spare room which is chock full of boxes of PhD papers, research etc.

He is playing a local Pro-Futures tournament here in Irvine, CA. He has done well
so far and is adorable and polite. He is currently enrolled at Oklahoma University and playing for the University team as well. Studying and playing. A real example of
the excellence of Europe.

Also, in the news is Rosia Montana. Once the poster child of environmental disaster and redemption, now relevent. The mine is owned by Gabriel Resources who worked hard at achieving sustainable mining techniques safe for the environment. They became embroiled in legal and political wrangles in Romania. That is all behind them now as things move forward for the gold mine. The fundamental point is Romania is poor and needs jobs. A Gold mine will provide those jobs and the owner is willing to do it Green and the local people support the mine. The environmentalists in Europe and elsewhere worry about the effect of gold mining on the environment. It is all very controversial pitting greenies against Canadian capitalists (go figure) who seem to be trying to comply with the law.

Andrei's next match is in the morning and the 'progress' in Rosia Montana is fascinating and curious.

See also


"Things were rupturing and nothing held. Books were solid, yet time was molten.
Books were consistent, yet people were not. Books dealt in cause & effect, yet life was inexplicable disorder. Nothing was as it was in a book, something about which he forever after harboured aa dull resentment that finally found expression as vengence."

Gould's Book of Fish
a novel in 12 fish

by Richard Flanagan

Wednesday, September 29, 2010

Financial literacy

The Financial Services Authority in the UK has established a Consumer Financial Education Board. It was created in order to build financial capability or financial education.

I just discovered this. I hope to learn more about this organization. As my recent law review article stated, (citation forthcoming) many African exchange regulators focus exclusively on education and it is awesome that the West is catching up!!

Saturday, September 18, 2010

Current events

I have been teaching a little more than usual lately. This has provided me with more money but less time. I miss the days where I sit around and think big (or small) thoughts. I have concluded that money is overrated. It is just that I need it to live in such an expensive place right now….so I suffer!!!

Here are the highlights of what I find interesting right now.


Plans for the Angolan Stock Exchange continue. The minute the Angolan stock exchange opens, I am there!


The African Stock Exchange Association (ASEA) meeting will be held in Livingstone, Zambia, 11-12 November 2010. I was in Livingstone over the summer thanks to a friend who knew I could not make the conference this year. It is a very lively town. I spent many hours at the airport there where a very friendly curio shop owner assured me that to sit in the sun thinking about my problems was no good…instead I must shop!! I swear I never really do get very far away from Orange County, California. Retail therapy is pervasive I suppose. I assured her that I had no problems and I also had no kwacha. It was a small lie. I used my last kwacha to buy a Mosi in the airport…maybe two.

Of interest is the fact that the recently ousted head of the Nigerian Stock Exchange, Prof. Ndi Okereke-Onyiuke, was the head of ASEA. We shall see (vicariously) what happens in terms of appointing a new head of the organisation at the upcoming meeting. I cannot attend because of my teaching commitments. I do not think I will miss much this year but I will try to attend next year if possible.

In the United States, securities arbitration-the resolution of disputes between investors and stock brokers by arbitration- may be threatened by the new Dodd-Frank Wall Street Reform Act. This would be a remarkable development. Securities arbitration has been the mainstay of dispute resolution for brokerages for many years. This change would signal a major shift in confidence in credibility in this kind of dispute resolution governed by the Financial Industry Regulatory Authority.

I will be focusing on securities arbitration in next few weeks so I hope to post about these and other developments here.

I have been spending most of my time in the US these days and I suffer from the deprivation of input and alternative perspectives. I will spend some time in New York City soon but I am afraid that will not do the trick. I hope to spend some time in London soon. I miss it like a victim of Stockholm syndrome.