Tenner!

The redesigned $10 quietly slipped into circulation yesterday:

060302bill2

The Bureau of Engraving and Printing explains:

"The new $10 note, which is the third denomination to be redesigned in the series, includes subtle shades of orange, yellow and red along with images of the Statue of Liberty’s torch and the words "We the People" from the United States Constitution. The new $10 note was introduced on March 2, 2006."

There are a slew of Security and Design Features, if that sort of stuff interests you . . .

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Sources:

The New Currency
Department of the Treasury
Bureau of Engraving and Printing
http://www.moneyfactory.gov/newmoney/main.cfm/currency/new10

‘We the People’ getting around on new colorized $10 bill   
Martin Crutsinger
ASSOCIATED PRESS, 12:48 p.m. March 2, 2006 http://www.signonsandiego.com/news/business/20060302-1248-newten.html

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The Backward Business of Short Selling

If you haven’t already, I strongly admonish you to go read Jesse Eisinger’s column today:

It’s a Tough Job, So Why Do They Do It?  The Backward Business of Short Selling

Here’s the money quote:

Short_interest
"The shorting life is nasty and brutish. It’s a wonder anyone does
it at all.

Shorts make a bet that a stock will sink, and nobody else wants
that: Not company executives, employees, investment banks nor most investors.
That’s why most manipulation is on the other side; fewer people object when
share prices are being pumped up. For most on Wall Street, the debate is whether
shorts are anti-American or merely un-American.

Yet in all the paranoia about evil short-sellers badmouthing
companies, what is lost is how agonizingly difficult their business is. They
borrow stock and sell it, hoping to replace the borrowed shares with cheaper
ones bought later so they can pocket the price difference as profit. It’s a
chronologically backward version of the typical long trade: sell high and then
buy low."

Go forth and read . . .

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Source:
It’s a Tough Job, So Why Do They Do It?
The Backward Business of Short
Selling

Jesse Eisinger
WSJ, March 1, 2006; Page C1
http://online.wsj.com/article/SB114118313441386192.html

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UPDATE March 2, 2006 10:32am: 

See below for more text

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