“Waterfall” provisions of asset backed securities are the rules that explain the flow of funds in the transaction, and they are are very hard to read. Blogger/professor Jayanth Varma calls them “horrendously complicated,” leading trustees to make mistakes or pull stunts that investors never expected. To remedy this, the SEC is proposing that the provisions be written in a programming language, filed on EDGAR, and made available as downloadable Python source code.
If you’re planning on taking part in the One Laptop Per Child “Buy 1 Give 1” sale next month, be warned that there have been delays in starting production. Although everything is now up and running, the foundation is predicting a shortage of laptops and said that although some U.S. and Canadian customers may see their personal laptops arrive before the end of 2007, orders would be filled on a first-come, first-served basis.
Early adopters, geeks, technology bargain hunters and idealists rejoice: One Laptop Per Child is opening its high tech stash to private consumers, at least temporarily, in an effort to help get their project off the ground now that production has begun. For two weeks beginning November 12th, you can purchase one of their green and white, portable, solar powered, open source laptops with the super-bright screen, for yourself for a tax-deductible $399, and a second laptop will be given to a needy kid somewhere else.