From Pine View Farm

2009 archive

As Often Happens . . . 1

. . . John Cole said it so I didn’t have to figure out how to say it.

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Unintended Truths 0

My mp3 player classifies its contents by all this fancy meta stuff, such as “Genre,” “Artist,” “Album,” and several others. Since I use it for podcasts and radio shows and those classifications are for music, they are pretty much irrelevant, except for “Artist.”

But wait! There’s more!

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None So Blind . . . 0

Reuters (and everyone else) is reporting the President Obama wants to cap executive compensation at businesses receiving bail out money.

This is a direct consequence of those same businesses’ showing a level of irresponsibility, arrogance, and greed that would make the Emperor Nero jealous.

What caught my attention in the Reuters story were comments from Wall Streeters, particularly this one (emphasis added):

LAUREN SMITH, ANALYST AT KEEFE, BRUYETTE & WOODS

“There is certainly a possibility” of talent flight from the big firms to the smaller investment banks if there are compensation limits. . . .”

Go here.

Then riddle me this:

What damned talent?

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Sinkholes 0

Substitute “US” for “UK.” Prem Sikka in The Guardian:

Is there any limit to the amount of money the UK government will spend to bail out financial institutions? To date, no bank has published accounts showing UK-specific assets, liabilities, losses or toxic debts. If regulators know, they have not informed the public. Therefore, it is hard to know what the UK taxpayer is bailing out. Seemingly, we are writing a blank cheque without knowing the full story.

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Just for Fun 0

Not much snow, but it was quite pretty in the sun:

Front

More Pix below the Fold

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All Those Nannygates 0

After the fuss over Zoe Baird some years ago, there really is no excuse for persons in public life not to be certain that their dealings with anyone who has done work for them in their homes are squeaky clean. (The Baird case involved undocumented workers.)

At the same time, I wonder . . .

Read more »

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Sin-co-pation 0

Libretto: George W. Bush. Music: Henry Hey.

Via Coyote’s Byte.

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Tradition 0

Every three months I do two things:

  • Catch up with my filing.
  • Swear that I won’t wait three months next time.

Continuity is a wonderful thing.

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It’s Snowing 3

It can’t decide whether it wants to snow or flurry. In any case, I’m glad I bagged DL.

I have described before the strange way in which Delawareans react to snow.

I went to the local Wawa this morning to buy a loaf of bread. It was snowing at the time.

I said to clerk, “I have to tell you, I’m buying this because I’m out of bread, not because it’s snowing”

She was still in hysterics when I left the store.

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Drinking Liberally on Steroids 0

Tonight, Triumph Brewing Company, two blocks east of the Old Customs House on Chestnut (That’s 117 Chestnut), Philadelphia, Pa., 6 p., followed by an author talk at 8 p.

Find out more down the hall and to the left at Mithras’s place.

I go to DL because it’s fun. Driving to and from Philly in bad weather on the Main Street of the East Coast is not fun. It looks the one might cancel out the other yet again.

The issue isn’t accumulation.

The issue is mixing bad driving conditions with idiots.

As the old saying goes,

If you try to make something idiot-proof, God will just build a better idiot.

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Wall Street: “It’s Not Our Fault” (Updated) 0

Shorter New York Times:

Wall Street says

We just made up whacky investments, seduced the ratings agencies into our velvet-lined handcuffs, ignored due diligence, sold boxes of air for real money, ran Ponzi schemes, drained our employers’ treasuries with fantastickal bonuses to pay for our houses in Greenwich and the Hamptons, and generally gobbled up all the cookies that investors trusted us to protect in our cookie jars.

But, golly gosh gee, Mr. Interlocutor, we had nothing to do with what happened.

It’s not our fault.

Addendum, after Sausage and Eggs:

Words still fail me.

But they didn’t fail John Cole. Or his commenters.

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MacArthur Redux? 0

Inquiring minds want to know.

All joking aside, if these rumors are true, it’s insubordination. And CENTCOM has let the press releases go to its head.

Then, again, the source is questionable and the source’s “about” page doesn’t really have any about.

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Schadenfrued 0

I do not know whether it would be good policy, but, oh! man! it would be fun to watch Wall Street bankers try to pay for their golden privies on GS-17 salaries and have to face annual performance evaluations from persons who really don’t like doing evaluations and do them with one eye on the budget and no eyes on performance:

There is a simple alternative, which can be called “bank rationalisation” in order to avoid the “n” word. Under this scenario, the government would take possession of insolvent banks. This is not interference with the market. It is the market. Bankrupt banks go out of business, but due to their importance to the economy, we can’t let them be tied up in bankruptcy proceedings for years.

Dealing with the matter all at once can both allow for a quicker fix to the financial system and also ensure fairer treatment of bank creditors. First, the shareholders of bankrupt institutions must be forced to eat their losses. However, we may not want to honour all the debts of the banks at 100 cents on the dollar, which has been current practice.

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Truism 0

Wingnuts make stuff up because the truth is not on their side.

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Compare and Contrast 0

Annette John-Hall in today’s local rag:

From Bill Cosby’s rants to pastors’ pulpits, we hear it all the time – the public tongue-lashing of black men. Nothing more than sperm donors, they’re told. You know the definition of irresponsibility? There’s a picture with your name right next to it.

Yet at the same time, we wink and nod at the masters of the universe, those corporate CEOs who refuse to change their greedy behavior – behavior we’re all paying for.

Who has harmed more people?

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Trivial Pursuit (Updated) 2

Activists of any stripe focus on trivialities so as to distract people from what’s going on and twist the public discourse.

That’s what the Republican fuss over family planning money in the stimulus bill was all about: distracting people.

Full disclosure: Unlike some, I don’t have a position on Tom Daschle’s tax problems. I don’t approve. I don’t disapprove. And I’m too lazy to research them.

I’ve screwed up my taxes a couple of times, and each time I thought I had them right, so perhaps my perspective differs from that of persons who have always filed a Form 1040-EZ and never had to file a Form 1040 Schedule SE.

Some Guy with a Blog suggests taking a larger view:

More below the Fold. Warning: Language

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I Am Aware of All Super Bowl Traditions 0

And a game that is not decided in the first quarter is not one of them.

John Cole found it necessary to take an aspirin to protect his heart.

Back to my regularly scheduled reruns.

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Diluting the Gene Pool, Football Dept. 0

The competence of sports broadcasters is the reciprocal of the number of sports stations.

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Requiem for the Mall 0

But where will the Mallies go?

Aside: I’ve been to the Mall of the Americas. It gets its high store count by cheating. It has–or had at the time I visited–two Radio Shacks on two different levels, and counted them both.

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Once More into the FAIL (Updated) 1

The Republican Party wants to do us again. Harder! Harder!

Republican Economic Theory is as bankrupt as Circuit City. But it appears the Republican Party is genetically unable to learn from the past.

Frank Rich in the Toimes:

We also now know conclusively that the larger Bush tax cuts, besides running up record deficits and exacerbating income inequality, were also at best a placebo on our road to ruin. In a January survey of economists, including former McCain advisers like Douglas Holtz-Eakin and Mark Zandi, The Washington Post determined that the job growth the Bush administration kept bragging about (“52 straight months!”) was a mirage inflated by the housing bubble. Job growth — about 2 percent — was in fact the most tepid of any eight-year period “since data collection began seven decades ago.” Gross domestic product grew at a slower pace than in any eight years since the Truman administration.

But even if tax cuts alone could jump-start a recovery, they couldn’t do the heavy lifting that Obama has promised and the country desperately needs: a down payment on a new economy to replace our dilapidated 20th-century model and bring back long-term growth. The Republicans don’t acknowledge the need for this transformation, or debate it in good conscience, preferring instead to hyperventilate over the contraceptives in a small family-planning program since removed from the stimulus bill. All it takes is the specter of condoms for the party of Vitter, Foley and Craig to go gaga.

The Republicans’ other preoccupation remains Rush Limbaugh, who is by default becoming their de facto leader. While most Americans are fearing fear itself, G.O.P. politicians are tripping over themselves in morbid terror of Rush.

Addendum, Sometime during the First Quarter of Super Bowl whatever it is:

On ABC’s This Week:

(Congressman Jim) DEMINT: Well, I’m not sure what economists you’re talking to … We have to decide if we want to be a free market economy and let the money stay there or be a government-directed economy which is where we’re headed with this plan.

(Congressman Barney) FRANK: …Let’s agree that we’re all Americans here, Jim. Nobody’s got the “American way” versus presumably the “non-American way.” And as far as spending versus tax cuts, I think we need to fix some highway and bridges. I never saw a tax cut fix a bridge. I never saw a tax cut give us more public transportation…

But wait! There’s more! Follow the link.

Video here.

Via Instaputz.

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