(1) Dubious financial minds come up with even more dubious [read: bullshit] derivative “securities” upon which transactions are based, and our Congressional masters sling the financial industry $700bn, no questions asked. In fact, the entire premise upon which the bailout was approved even gets changed in midstream, but no worries.
(2) Auto industry which employs hundreds of thousands (over a million if you kick in the cascade effects) and remains the largest part of the American manufacturing base asks for $25bn to get it through until new cost-saving labor agreements and reduced legacy costs kick in, and the answer is “Clear it with Countrywide Chris and Subprime Barney first.” Oh, and you boot John Dingell for the Mayor of Whoville in the process.
Yeah, we’re watching here in Michigan. Which reminds me, a word of advice for Senator Dick Shelby: I can’t recommend sticking your schnozz north of Toledo for the foreseeable future–you’ve become a household name on sports radio, of all things. And not remotely in a good way.
Other than the fact that I don’t listen to sports radio — my thoughts exactly.
I spent the flight staring out the window at half a continent’s worth of scenery while trying to fit my head around Bateson’s take on systems theory or the tangled syntax of some scrap of atrocious medieval Latin, and spent the ride from the airport to the hotel in suburban Auburn Hills taking in glimpses of Detroit: long-abandoned factory buildings in ruins, gritty slums with colorfully named churches and every third house boarded up, posh suburban neighborhoods with ostentatious yards, huge office buildings breaking the skyline, and then the huge mass of Chrysler’s headquarters complex looming up beside the freeway like a pharaoh’s tomb. I half-expected to see an inscription out of Shelley’s Ozymandias there:
My name is Iacocca, CEO of CEOs; Look on my works, ye bankers, and despair!
WASHINGTON (Reuters) – Former U.S. Federal Reserve Chairman Alan Greenspan told Congress on Thursday he is “shocked” at the breakdown in U.S. credit markets and said he was “partially” wrong to resist regulation of some securities.
The Yankees and Cowboys, along with Goldman Sachs and CIC Partners, have formed Legends Hospitality Management, LLC, “a new company that will be focused on operating catering, concessions, retail merchandising and other facility management enterprises for major sports and entertainment facilities,” according to a release issued by the Yankees.
God have mercy. Hide the women and children! This much evil just should not be concentrated in one organization!
Well. I had a definite “how did I get this old so soon?” moment this week.
At our homeschooling co-op, this semester there is a fencing class. The instructor knows that, back in the day, I did a bit of fencing. So, this week he says to me “Come on, Zach — my equipment’s your size, you can suit up and help give the kids a workout.”
How could I resist?
But, then I made my mistake. I started to make my disclaimer, that I hadn’t actually fenced épée much ever, and beside, I hadn’t actually been in a bout since …
And realized that the correct ending of that sentence was “… since before any of you kids were born.”
Ah, well. As the saying goes, “old age and treachery beat youth and skill every time.” The results? Let’s just say that for these young padawans, “much to learn, you still have.”
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