12 years ago
Sunday, March 23, 2008
Monday, March 17, 2008
When you know your government has it backwards
By now, you've read the headlines about this little deal that finished the stunning collapse of one of the most respected investment banks. And if I were you, I'd be sick to my stomach knowing that $236 million of my taxpayer dollars just helped keep the wealthy rich while companies like Fannie Mae and Freddie Mac languish to a point that threatens the average person. And my gut truly is feeling sick as I type because of this.
You can easily see those who had money invested with Bear Sterns and JP Morgan as the winners here, while the shareholders of BSC get the major shaft. Of course, whoever bought 55,000 put options at $30 is looking like a genius at this point, provided he isn't the next coming of Jeff Skilling. And yet the $2 per share price just seems like rich have gotten richer.
In this writer's opinion, this fiasco is another example of Bernanke's ineptitude as Fed Chairman, and the failed economic policies of the current White House administration. They somehow think that bailing out an investment bank is the solution when the power of the middle class is declining, the plummeting value of the dollar is pushing imported commodities higher, most notably crude oil, and people in this country keep thinking that to live beyond one's means is a human right rather than a stupid financial decision, everyone must own a home even if it is impractical for one's vocation/profession, and that the government will try to save the average American from debt by putting the country further into it. Have we no sense of logic anymore?
The premise of the "Dark Angel" television series was an EMP turning the US into a 3rd world country overnight (and to expose a young actress by the name of Jessica Alba). Perhaps it won't take such an action from science fiction, but is already occurring because of the hands of Ben, Hank, and George W.
You can easily see those who had money invested with Bear Sterns and JP Morgan as the winners here, while the shareholders of BSC get the major shaft. Of course, whoever bought 55,000 put options at $30 is looking like a genius at this point, provided he isn't the next coming of Jeff Skilling. And yet the $2 per share price just seems like rich have gotten richer.
In this writer's opinion, this fiasco is another example of Bernanke's ineptitude as Fed Chairman, and the failed economic policies of the current White House administration. They somehow think that bailing out an investment bank is the solution when the power of the middle class is declining, the plummeting value of the dollar is pushing imported commodities higher, most notably crude oil, and people in this country keep thinking that to live beyond one's means is a human right rather than a stupid financial decision, everyone must own a home even if it is impractical for one's vocation/profession, and that the government will try to save the average American from debt by putting the country further into it. Have we no sense of logic anymore?
The premise of the "Dark Angel" television series was an EMP turning the US into a 3rd world country overnight (and to expose a young actress by the name of Jessica Alba). Perhaps it won't take such an action from science fiction, but is already occurring because of the hands of Ben, Hank, and George W.
Friday, March 7, 2008
A new place to muse
So I've agreed to write for another blog, this one focused on that wonderful sport of baseball. The blog is Seamheads.com, which you can also get to through Baseball Daily Digest, just click on "Seamheads" at the top. While Seamheads has been focused on baseball history, they wanted some more writers to address the current state of the game and other interests, and thus where I and many others have come in to help out the two gents who started it. Naturally, my posts for them will have a statistical slant, ranging from Op-ed to hardcore research. You can read my first post, reflecting on the possibility that Spring Training statistics indicate something about professional ballplayers.
For those of you who have found my blog from Seamheads, welcome. My personal blog tends to be more broad based than the baseball focus of Seamheads, as my interests are wide and varied, though tend to have a common theme of something competitive in nature with the exception of my faith themed comments. I hope you enjoy reading one or the other, and there may be a few extra nuggets I post here that I am unable to on Seamheads (most likely files and what not).
For those of you who have found my blog from Seamheads, welcome. My personal blog tends to be more broad based than the baseball focus of Seamheads, as my interests are wide and varied, though tend to have a common theme of something competitive in nature with the exception of my faith themed comments. I hope you enjoy reading one or the other, and there may be a few extra nuggets I post here that I am unable to on Seamheads (most likely files and what not).
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