Sunday, April 10, 2016

CBS Sunday Morning on April 10, 2016

Anthony Mason was the host for the money issue on April 10.

The bank meltdown in Iceland. From the cover story by Martha Teichner:

Historian Magnus Sveinn Helgason conducts walking tours during which he explains what went wrong when Iceland's bankers and businessmen set out to turn their country of only 330,000 people into a world financial capital:

"When the three big Iceland banks collapsed, all three would have ranked among the ten largest bankruptcies in U.S. history had they been U.S. companies," he said. (...)

"A lot of people seemed to be getting very rich, very fast, and a lot of people wanted to join in on that," said Katrin Jakobsdottir. She is one of the members of Parliament who decided on Iceland's hardline response when this whole house of cards built on debt came tumbling down.

"Even though the banks also were responsible, as a whole, I think it was the conviction that also the individuals within the banks had done this," Jakobsdottir said. (...)

Between 20 and 30 bankers have gotten jail sentences. Siguron Arnason, former CEO of Landsbanki, will begin serving a five-year prison sentence in the fall.


A story on the Thiel Foundation by John Blackstone included criticism:

"It breaks my heart when some of the most promising students don't fulfill their potential because they're chasing rainbows," said Vivek Wadhwa, a fellow at Stanford University, who has been a critic of the Thiel Fellowship from the beginning." (...)

"Everyone does the same thing: It's social media, it's photo sharing apps. Today it's sharing economy," Wadhwa said. "It's 'Me, too,' 'More of the same.'"


"There are some opportunities that come up that you would regret turning down," Kramer said. "Workflow was definitely one of those."

"It's kind of like making your own apps that save you time," Weinstein said.

When Workflow launched, it was the number one bestseller on Apple's App Store -- and has since won several awards.

They've just hired their newest employee, Tim Hsia, a graduate of Stanford's business and law schools and an Army vet. He's 33-years-old and says he doesn't mind taking orders from a teenage boss.

There is a New Jersey connection to Workflow. From a 2014 post: (Kramer, 18, is from Cherry Hill, Weinstein is from Mt. Airy).

Of the Wadhwa debate, see also

And from, Wadhwa saying:

One good question Thiel often raises is whether you need to learn what’s taught in college. My dean at Duke University, Tom Katsouleas, has a great answer. He tells the story of a high school teacher whose students confronted him with the same question: “Why do we need to learn this?” The teacher replied, “You don’t. You need to learn to ask just one question.” The piqued students implored him to tell what that was. His answer: “Would you like fries with that?”


** Lee Cowan interviews Hugh Jackman on coffee.
See Hugh Jackman: Changing lives, one cup of coffee at a time

The moment of nature included two buck mule deer near Wilson, Wyoming. ["two bucks" for the money issue]


[The "money issue" in 2014: Snow geese and tundra swans in Lehigh Valley, Pa. Many "bills."]


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