November 2010 archive

Nothing new here, just more of the same, reinforced.

Coming Soon: Congress Revisits the Authorization to Use Military Force

By: Spencer Ackerman Monday November 15, 2010

As I tweeted and wrote for Danger Room today, the incoming chairman of the House Armed Services Committee, Rep. Buck McKeon, briefly argued in a speech today that Congress should “reaffirm – in statute – the Authorization to Use Military Force of 2011.” To expand on that: McKeon mentioned the AUMF in the context of detainee policy – that is, to keep terrorism detainees out of federal courts. But it clearly goes beyond that. Here’s what a McKeon aide told me:

The objective wouldn’t the “drop a new Authorization to Use Military Force, but to reaffirm and strengthen the existing one,” says an aide to McKeon who requested anonymity, “recognizing that the enemy has changed geographically and evolved since 2001.” Sounds like the shadow wars may get some sunshine.

For the Obama administration, AUMF has operated like an Emergency Law, providing blanket authorities for things like drone strikes beyond Afghanistan that are never mentioned in the brief 2001 language. A new AUMF would at least be more specific about what powers Congress actually intends the president to have to conduct a war against al-Qaeda – as well as, perhaps, what the boundaries of those authorities might be. It’s still not a declaration of war – my understanding is there’s not an appetite for that in Congress – but it also would represent the first congressional reconsideration of the scope of a war that, in practice, is endless. That could go in any number of directions, but at least it’ll be debated.

This is a means to justify the drone attacks in Pakistan and Yemen or any other country the US deems a threat, as well as, to “justify” the illegal, indefinite detention of persons that the US decides is too dangerous to release.

We Will Always Be at War against Everyone

By: emptywheel Tuesday November 16, 2010

But there are two other aspects to a “reaffirmed and strengthened” AUMF. As McKeon’s aide notes, the enemy has changed geographically, moving to Yemen and Somalia. A new AUMF will make it easier to build the new bases in Yemen they’re planning.

The U.S. is preparing for an expanded campaign against al Qaeda in Yemen, mobilizing military and intelligence resources to enable Yemeni and American strikes and drawing up a longer-term proposal to establish Yemeni bases in remote areas where militants operate.

And I would bet that the AUMF is drafted broadly enough to allow drone strikes anywhere the government decides it sees a terrorist.

Which brings us to the most insidious part of a call for a new AUMF: the “homeland.” The AUMF serves or has served as the basis for the government’s expanded powers in the US, to do things like wiretap Americans. Now that the Republicans know all the powers the government might want to use against US persons domestically, do you really think they will resist the opportunity to write those powers into an AUMF (whether through vagueness or specificity), so as to avoid the quadrennial review and debate over the PATRIOT Act (not to mention the oversight currently exercised by DOJ’s Inspector General)? The only matter of suspense, for me, is what role they specify for drones operating domestically…

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

November 16 is the 320th day of the year (321st in leap years) in the Gregorian calendar. There are 45 days remaining until the end of the year.

On this day in 1959 , the musical, “The Sound of Music” opened on Broadway.

Did the young Austrian nun named Maria really take to the hills surrounding Salzburg to sing spontaneously of her love of music? Did she comfort herself with thoughts of copper kettles, and did she swoon to her future husband’s song about an alpine flower while the creeping menace of Nazism spread across central Europe? No, the real-life Maria von Trapp did none of those things. She was indeed a former nun, and she did indeed marry Count Georg von Trapp and become stepmother to his large brood of children, but nearly all of the particulars she related in her 1949 book, The Story of the Trapp Family Singers, were ignored by the creators of the Broadway musical her memoir inspired. And while the liberties taken by the show’s writers, Howard Lindsay and Russel Crouse, and by its composer and lyricist, Richard Rodgers and Oscar Hammerstein II, caused some consternation to the real Maria von Trapp and to her stepchildren, according to many later reports, those liberties made The Sound of Music a smash success from the very night of its Broadway opening on this day in 1959.

The Sound of Music opened on Broadway at the Lunt-Fontanne Theatre on November 16, 1959, moved to the Mark Hellinger Theatre on November 6, 1962 and closed on June 15, 1963 after 1,443 performances. The director was Vincent J. Donehue, and the choreographer was Joe Layton. The original cast included Mary Martin (at age 46) as Maria, Theodore Bikel as Captain Georg von Trapp, Patricia Neway as Mother Abbess, Kurt Kasznar as Max Detweiler, Marion Marlowe as Elsa Schraeder, Brian Davies as Rolf and Lauri Peters as Liesl. Soprano June Card was one of the ensemble members in the original production. The show tied for the Tony Award for Best Musical with Fiorello!. Other awards included Martin for Best Actress in a Musical, Neway for Best Featured Actress, Best Scenic Design (Oliver Smith) and Best Musical Direction (Frederick Dvonch). Bikel and Kaznar were nominated for acting awards, and Donehue was nominated for his direction. The entire children’s cast was nominated for Best Featured Actress category as a single nominee, even though two children were boys.

The Sound of Music was the final musical written by Rodgers and Hammerstein; Hammerstein died of cancer nine months after the Broadway premiere.

Rebecca Luker leads the 1998 Broadway revival cast in a performance of ‘Climb Every Mountain,’ ‘Do Re Mi’ and ‘The Sound of Music’ at the Tony Awards.

Europe Fears That Debt Crisis Is Ready to Spread  

 

By LANDON THOMAS Jr. and JAMES KANTER

Published: November 15, 2010

LONDON – European officials, increasingly concerned that the Continent’s debt crisis will spread, are warning that any new rescue plans may need to cover Portugal as well as Ireland to contain the problem they tried to resolve six months ago.

Any such plan would have to be preceded by a formal request for assistance from each country before it would be put in place. And for months now, Ireland has insisted that it has enough funds to keep it going until spring. Portugal says it, too, needs no help and emphasizes that it is in a stronger position than Ireland.

Pretty much premiers.

I suppose I should say a word or 2 about Sarah Palin’s Alaska.  Yes I kinda sorta watched it in that face down on the keyboard in a puddle of drool sort of way which gives me nightmares about Stephen Colbert beating me with his Platinum membership card because I don’t buy enough Prescott Pharmaceuticals.

Sarah is absolutely right.  Yelling at Bears and their cubs while you’re stealing their fish is kind of begging Darwin to smite you Piper.  What was more interesting to me is that she didn’t wait 5 minutes to call out Joe McGinniss which sort of set the tone for her 40 minute campaign ad that plodded leadenly from talking point to talking point.

Mama Grizzlys indeed.

Now you may have a different impression and if not you have a chance to form a totally new one based on my particular prejudices tonight when it repeats, but when I say it lacks the drama and sincerity of Ochocinco: The Ultimate Catch I’m making a professional judgement as a critic.

Because I’m not a journalist, just a deadline writer.

• ABC Family– Freaky Friday (not the good 1976 version), Mean Girls
• AMC– The Abyss
• Bravo– Real Housewives marathon
• Comedy– American Pie
• Discovery– Sr. v. Jr marathon
• ESPN– Eagles @ Redskins
• Food– The Best Thing I Ever Ate, Triple D (premiers)
• FX– Anger Management, The Girl Next Door
• History– Pawn Stars, American Pickers
• Lifetime– Sins of the Mother, One Angry Juror
• TBS– Family Guy night
• Turner Classic– Sunrise (shhhhh)
• TLC– New Cake Boss
• Toon– Adventure Time with Finn & Jake, Regular Show, MAD, Robotomy (premiers), Total Drama World Tour (Season Finale premier)
• TV Land– Jerry Maguire
• Vs.– Blues @ Avalanche
• Oxygen– Catwoman x 2 (ugh)

Later-

• AMC– Deep Blue Sea
• Disney– Phineas and Ferb
• ESPN– College Hoopies, Miami @ Memphis
• Style– Sweet November (the Golden Rasberry version not the good 1968 one)
• Turner Classic– The Iron Horse (shhhhh)
• TLC– Sarah Palin’s Alaska (Season Premier repeat)
• USA– Bad Boys II x 2

Dave hosts Emma Watson (easily the brightest witch of her generation), Scott Caan, and Rascal Flatts.  Jon has Marion Jones, Stephen David Stern (Hoopies).  Alton does Fried Turkey and Stuffing.  Conan hosts LL Cool J, B.J. Novak, and Sharon Jones & the Dap Kings.

Boondocks– Attack of the Killer King-fu Wolf Bitch

Evening Edition is an Open Thread

1 Newly freed Suu Kyi calls for ‘non-violent revolution’

by Hla Hla Htay, AFP

53 mins ago

It’s Title Fraud Damnit!

Of the 10 diaries I’ve posted in the last 2 weeks about economics, fully 5 of them have been on bank fraud.

• The Morality of the Market Mon Nov 01, 2010 at 09:12:22 AM EDT
• BoA: Feeling The Heat? Fri Nov 05, 2010 at 06:14:02 AM EDT
• BoA: The Heat Is On Sat Nov 06, 2010 at 07:34:48 AM EDT
• Allonge! Thu Nov 11, 2010 at 11:21:45 AM EST
• Just a scrap of paper Sat Nov 13, 2010 at 10:06:40 AM EST

The latest develoment is rumors that Washington and Wall Street are conspiring to retroctively “legalize” the MERS records under the general Versailles Villager principle of looking foward and never punishing anyone important no matter how badly they fuck up.

I mean, if it works for torture, war crimes, anonymous indefinite detetion, and targeted assassination, what’s $1.4 Trillion between friends?

So I duly reported this on Saturday and today dday has a piece that is not quite as sanguine that this is a problem that can be solved by brute force-

This Week’s Developments in Foreclosure Fraud

By: David Dayen Monday November 15, 2010 8:18 am

Finally, a word on the "MERS Whitewash bill" floated by John Carney last week. Carney has been bloviating about this for well over a month, based mainly on speculation. He may have the history of Congress making mischief on behalf of the banks on his side, but he really doesn’t have a clue on this issue. Foreclosure operations are state issues governed by state laws, and lawmakers know they would have a difficult go of trying to adjudicate a constitutionally viable solution that would indemnify the banks in this case. They’d have to stick out their necks quite far, and it would almost certainly be challenged all the way up the legal ladder. The outcry that would ensue during that time would be tremendous. I’m not sure it’s something that risk-averse politicians would want to put up with. And Carney certainly has no evidence one way or the other. I’m happy to fight something that exists, but nothing does at the moment.

I am quite happy to fight potential problems, because the Vacuity, Vanity, and Venality of our Versailles Villagers shouldn’t ever be underestimated.

And there are other problems-

One Mess That Can’t Be Papered Over

By GRETCHEN MORGENSON, The New York Times

Published: October 23, 2010

O(n) the other hand, resolving paperwork woes in the world of mortgage-backed securities may be trickier. Experts say that any parties involved in the creation, sale and oversight of the trusts holding the securities may be held responsible for any failings – and if the rules weren’t followed, investors may be able to sue the sponsors to recover their original investments.

Mind you, the market for mortgage-backed securities is huge – some $1.4 trillion of private-label residential mortgage securities were outstanding at the end of June, according to the Securities Industry and Financial Markets Association.

…

All of this suggests that while a paperwork cure may eventually exist for foreclosures, higher hurdles exist when it comes to remedying flaws in mortgage-backed securities. The only way to wrestle with the latter, some analysts say, is in a courtroom.

“The whole essence of this crisis is fraud and unless we restore the rule of law and transparency of disclosure, we are not going to fix this,” said Laurence J. Kotlikoff, an economics professor at Boston University.

These are groups like PIMCO, Blackrock, and the Federal Reserve Bank of New York.  So far.

Then there’s also the problem pointed out by bmaz on Friday originally, these banks and real estate trusts owe a lot of money in filing fees in States hard hit by the Bank Induced Financial Collapse and Depression.

Are Obama and Congress Set To Screw American Counties, Homeowners and Give Wall Street Mortgage Banksters a Retroactive Immunity Bailout?

By: bmaz Friday November 12, 2010 7:40 pm

There are rapidly emerging signs the Obama Administration and Congress may be actively, quickly and covertly working furiously on a plan to retroactively legitimize and ratify the shoddy, fraudulent and non-conforming conduct by MERS on literally millions of mortgages.

…

As quoted above, even the most conservative estimate (and that estimate is based on only a single recording fee per mortgage, when in reality there are almost certainly multiple recordings legally required for most all mortgages due to the slicing, dicing and tranching necessary to accomplish the securitization that has occurred) for the state of California alone is $60 billion dollars. That is $60,000,000,000.00. California alone is actually likely several times that.

And there are those pesky Sections 9 and 10 of Article I.

There are at least 11 criminal frauds going on and the charitable and optimistic part of me thinks that they cain’t git all them thar’ worms back in the bait can.

“Punting the Pundits“ is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

César Chelala Human Rights Groups United in Demand for Bush’s Prosecution

Several human rights groups are united in their demand that former president George W. Bush face prosecution following his open admission that he authorized the use of waterboarding, one of the cruelest forms of torture. Former president Bush made his admission during interviews publicizing his book, Decision Points. Bush’s admission of having authorized torture, however serious the claim is, is just one of the reasons the former president could be prosecuted.

During an interview with NBC News Bush said, “Three people were waterboarded and I believe that decision saved lives.” And he added, “My job was to protect America. And I did.” This is not the opinion of the American Civil Liberties Union (ACLU), Amnesty International (AI) and Human Rights Watch, three of the most prestigious human rights organizations.

“The Department of Justice has made clear that waterboarding is torture and, as such, a crime under the federal anti-torture statute.18 U.S.C. 2340 (c). The United States has historically prosecuted waterboarding as a crime. In light of the admission by the former President, and the legally correct determination by the Department of Justice that waterboarding is a crime, you should ensure that Mr. Durham’s current investigation into detainee interrogations encompasses the conduct and decisions of former President Bush,” says the ACLU in a letter addressed to U.S. Attorney General Eric Holder.

New York Times Editorial: Try Something Hard: Governing

Many Americans who voted this fall expressed a deep mistrust of government. House Republicans’ triumphalist vows to tie up the Obama administration with nonstop investigations and obstructionist budget crimping are not going to allay those voters’ concerns – or solve any of the country’s problems. . . .

This combativeness from the new House majority is an early symptom of its preference for politicking over the tougher job of governing in hard times. Its plans already feature the low cunning of snipping budget lines so the Internal Revenue Service cannot enforce key provisions of the health care reform law. (Why not defund Postal Service document deliverers while they’re at it?) . . .

In principle, Congress’s oversight of the executive branch can be a vital necessity. Politically, however, both parties push its limits from time to time. Now is no time for myriad searches for sensational distractions when the nation’s voters cry out for solid progress.

Annie Gell: Haiti’s Unnatural Disasters

International aid, trade, debt and governance policies over many decades made Haiti dependent on imported food and materials and crippled the domestic economy. These policies forced Haitian farmers off their land and into the low-lying cities and encouraged the deforestation of Haiti’s hillsides. The policies also severely curtailed the Haitian government’s ability to provide basic public services to its citizens, including healthcare, housing and sanitation services. The result is a country and a population that are acutely vulnerable to environmental stresses like earthquakes, diseases and storms. . . . .

Despite the generous pledges of billions of dollars in assistance by individuals and countries across the world, only a small percentage of promised funds has reached organizations in Haiti, and only a miniscule fraction of the money delivered has reached the Haitian people themselves. Many Haitians are living just as they were immediately after the earthquake with utterly inadequate access to sanitation, shelter, food and clean water.

Monday Business Edition

One of the emergent stories this weekend has been the question of whether Ireland is going to accept a bailout from the EU or the IMF.  The proximate problem is that interest rates on Irish debt (bonds) and the price of insuring it against defaults (Credit Default Swaps) rose quite sharply on Thursday and Friday.

No holding back the tide

By David Clerkin, Markets Correspondent, The Sunday Business Post

14 November 2010

The rate attached to Irish ten-year bonds, which days earlier had touched the already eye-watering level of 7.8 per cent, quickly eclipsed 8 per cent on Monday and smashed through 9 per cent on Thursday.

…

To put this spiral into context, it is worth noting that the rate stood at 6.8 per cent less than two weeks ago. It was 6.5 per cent a month ago. It was 4.7 per cent a year ago.

…

Some bond traders zeroed in on the market for credit default swaps (CDSs) – the insurance policies on offer to protect investors from a borrower becoming unable to repay their money. The CDS market, though thinner than the market in government bonds, exhibited equally grim characteristics last week. The CDS premiums on AIB debt – insurance against AIB defaulting – exceeded 10 per cent, and those on debt issued by other Irish banks continued their unwelcome rise.

As the market fate of the Irish government has been intertwined with those of the banks it guaranteed since September 2008, some traders spoke of a vicious circle. As Irish banks fell increasingly out of favour, fears over the Irish government’s creditworthiness intensified.

Andrea Merkel made some remarks at the G20 Summit (which was so unproductive for Obama, but that’s another story) about using the European Financial Stability Fund for another bailout that the Irish government is objecting to strenuously.

The Irish people?  Maybe not so much.

German solution seems irresistible to Irish people but not to the State

JOHN McMANUS, The Irish Times

Monday, November 15, 2010

Why is the Government against accessing the European Financial Stability Fund?

(Ireland, we) are led to believe, is a source of endless fascination, no little bafflement and some affection for the Germans. Right now they must be wondering why their chancellor, Angela Merkel, is being blamed for our latest crisis by the Taoiseach when she appears far more in tune with the Irish national mood than he does.

At a very fundamental level, all the German chancellor wants to do is change the rules of global finance so that the investors who lend money to feckless governments and banks must share the cost when things go wrong and thus be incentivised to act more responsibly. It’s a sentiment that pretty much everyone in Ireland would support.

Her proposals have an added populist attraction in Ireland as, inter alia, they would involve the burning of bank bondholders, the cause célèbre of much of the economic commentariat. This is because it is hard to see how Ireland could restructure its own debt – the nub of Merkel’s plan – without also restructuring the debts of the almost completely nationalised banking system.

…

From this point of view, the European Financial Stability Fund is starting to look irresistible. Not only do you get to burn the bond holders, you may even be able to help people out of negative equity! “What’s not for these Irish to like?” Merkel can legitimately ask. “Nothing” is the answer most of us would give.

So why is it then that we have a situation where the German chancellor and most Irish people seem to want one thing and our Government and the financial establishment want the other?

The answer is that, unfortunately, we must live with the immediate consequences of what is a laudable effort to reverse the balance of power between the financial system and sovereign governments. It is admirable – and indeed necessary – because the overriding lesson of the global financial crisis has been that governments have found themselves servants of the financial markets rather than the other way around. But while we would all like to get to the sun-lit uplands envisioned by Merkel, Ireland unfortunately might not survive the journey.

What does Merkel get out of it?  The Euro is teetering on the brink and a lot of people are heavily invested in it, financially and politically.

Ireland and Greece should ditch the euro

By Peter Oborne, The Daily Telegraph

November 15th, 2010

This is what the Spanish prime minister, Jose Zapetero, declared in an interview with the Wall Street Journal as recently as September 22: “I believe that the debt crisis affecting Spain, and the eurozone in general, has passed.”

Or let’s listen to Patrick Honohan , governor of the Central Bank of Ireland, who soberly informed the markets last week that surging yields on Irish government debt would soon be back to normal levels. Both men are deluding themselves – and us. From time to time, events take a turn which is too grave, unsettling and unfathomable for politicians to cope with. They enter a state of denial. We are now living through one of those times.

The European Single Currency cannot be saved. Yet the euro elite are unable to bring themselves to acknowledge the magnitude of this disaster. They have convinced themselves that all is well. The pattern is familiar and indeed we in Britain experienced something very similar in the months leading up to Black Wednesday and the eviction of sterling from the Exchange Rate Mechanism in September 1992.

…

The euro elite is utterly ruthless. In its mission to save the euro, it is ready to throw tens of millions out of work and in the process destroy businesses, lives and whole economies. Consider the terrifying facts. The Irish economy has gone through recession and entered what economists call a depression. Its output contracted by an extraordinary 10 per cent last year, and may well do so again over the next 12 months.

In Spain, unemployment stands at 20 per cent, and youth unemployment a horrifying and tragic 40 per cent. The depths of misery lying behind these statistics cannot be exaggerated. A friend of mine who lives in the Spanish province of Andalusia tells me that some children in his village cannot go to school. This is because their parents cannot afford to buy them shoes. Effectively large parts of Europe are de-industrialising. In Greece, the economy may contract by 15 per cent over the next two years as a result of massive cuts in state spending.

For Greece and Ireland, there is an absurdly easy way back to economic growth: return to the drachma and the punt. Such a move would enable national currencies to fall back to levels where they can be internationally competitive – which in the case of hapless Greece would be approximately one third of where it stands today.

Assertions by the big bankers and eurocrats that such a move is technically impossible are self-serving and false. It would of course be very messy in the short term, but there are many examples of countries pulling out of currency unions with no lasting ill-effect.

The peripheral eurozone nations are being prevented from taking this sensible move by a cynical alliance between the big banks and the Brussels elite. The banks cannot countenance any contraction of the eurozone because once Greece, Ireland, Portugal and Spain pull out, they will have no choice but to default on their debts. Such a move would bankrupt almost all European banks. Between them these four countries have a combined sovereign debt of well over £1 trillion. A very large part of this debt is owned by the major European banks. The Bank of International Settlements estimates, for example, that French financial institutions have lent the equivalent of 37 per cent of total French GDP to these failing countries.

However there are also hugely powerful political considerations. The collapse of the euro project will come as a shattering blow from which the European project cannot recover. That is why key members of the Euro elite are so determined to use this moment to press forward with their plans for political and economic integration.

More about Ireland-

• How’s that austerity thing working out for you? Mon Nov 08, 2010 at 10:04:33 AM EST
• Again- How’s that austerity thing working out for you? Tue Nov 09, 2010 at 09:50:46 AM EST

Business News below.  Now with 51 Stories.

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

November 15 is the 319th day of the year (320th in leap years) in the Gregorian calendar. There are 46 days remaining until the end of the year.

On this day in 1867, On this day in 1867, the first stock ticker is unveiled in New York City. The advent of the ticker ultimately revolutionized the stock market by making up-to-the-minute prices available to investors around the country. Prior to this development, information from the New York Stock Exchange, which has been around since 1792, traveled by mail or messenger.

The ticker was the brainchild of Edward Calahan, who configured a telegraph machine to print stock quotes on streams of paper tape (the same paper tape later used in ticker-tape parades). The ticker, which caught on quickly with investors, got its name from the sound its type wheel made.

Calahan worked for the Gold & Stock Telegraph Company, which rented its tickers to brokerage houses and regional exchanges for a fee and then transmitted the latest gold and stock prices to all its machines at the same time. In 1869, Thomas Edison, a former telegraph operator, patented an improved, easier-to-use version of Calahan’s ticker. Edison’s ticker was his first lucrative invention and, through the manufacture and sale of stock tickers and other telegraphic devices, he made enough money to open his own lab in Menlo Park, New Jersey, where he developed the light bulb and phonograph, among other transformative inventions.

Stock tickers in various buildings were connected using technology based on the then-recently invented telegraph machines, with the advantage that the output was readable text, instead of the dots and dashes of Morse code. The machines printed a series of ticker symbols (usually shortened forms of a company’s name), followed by brief information about the price of that company’s stock; the thin strip of paper they were printed on was called ticker tape. As with all these terms, the word ticker comes from the distinct tapping (or ticking) noise the machines made while printing. Pulses on the telegraph line made a letter wheel turn step by step until the right letter or symbol was reached and then printed. A typical 32 symbol letter wheel had to turn on average 15 steps until the next letter could be printed resulting in a very slow printing speed of 1 letter per second. In 1883, ticker transmitter keyboards resembled the keyboard of a piano with black keys indicating letters and the white keys indicating numbers and fractions, corresponding to two rotating type wheels in the connected ticker tape printers.

Newer and more efficient tickers became available in the 1930s and 1960s but the physical ticker tape phase was quickly coming to a close being followed by the electronic phase. These newer and better tickers still had an approximate 15 to 20 minute delay. Stock ticker machines became obsolete in the 1960s, replaced by computer networks; none have been manufactured for use for decades. However, working reproductions of at least one model are now being manufactured for museums and collectors. It was not until 1996 that a ticker type electronic device was produced that could operate in true real time.

Simulated ticker displays, named after the original machines, still exist as part of the display of television news channels and on some World Wide Web pages-see news ticker. One of the most famous displays is the simulated ticker located at One Times Square in New York City.

Ticker tapes then and now contain generally the same information. The ticker symbol is a unique set of characters used to identify the company. The shares traded is the volume for the trade being quoted. Price traded refers to the price per share of a particular trade. Change direction is a visual cue showing whether the stock is trading higher or lower than the previous trade, hence the terms downtick and uptick. Change amount refers to the difference in price from the previous day’s closing. These are reflected in the modern style tickers that we see every day. Many today include color to indicate whether a stock is trading higher than the previous day’s (green), lower than previous (red), or has remained unchanged (blue or white).