Archive for May, 2012

Readings

I’ve read a few books in the past few months. It’s been awhile since I did a good book post, so why not today?

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Everything’s Fine!

I’m pretty much blatantly ripping off Atrios for this one, but it is what it is: just incredible. Guy steals $69,000 of money that isn’t his, he gets arrested and charged with felonies. Guys steal $1.6 billion of money that isn’t theirs in essentially the same way, and everybody just sits around hemming and hawing. As the article says, this isn’t complicated like JP Morgan: customers deposit money, money is stolen from accounts to cover debts. So far, though, nobody has been charged with 20,000 felonies. Or even one.

With this, JP Morgan, the hilariously botched and now investigated Facebook IPO, and Europe debating whether to continue to bleed the anemic patient, it’s hard reading the news these days.

The Roulette Wheel

Lots of digital ink has been spilled about JP Morgan’s $2 billion trading loss. I don’t want to add too much more, except to call out one issue that I think has been downplayed through all of this: the notion that JP Morgan “lost” the money.

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Another One Bites The Dust

I was a Political Science major in college. One of the classes I took was on state government, and as part of that class, everybody had to do a report on the politics of a randomly-assigned state. I happened to have been assigned Indiana. So I dug into the books in the library (back when that’s how you had to do research!) and read all about the huge influence of the KKK in Indiana early in the 20th century (seriously, huge influence), the Indianapolis unigov, and famous Indiana politicians: Bayh père et fils, Dan Coats, Dan Burton, Mark Souder, and of course Vice President Potatoe. Nobody had been around Indiana politics longer, though, than Tricky Dick’s “Favorite Mayor”, Dick Lugar. And tonight, he is no more.

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Being Right

There’s a lot of commentary about the French and Greek elections this week. Some of it is rather apoplectic (more deserved in Greece than France), but for all the talk of extremism, a lot of the debate misses the mark. What really matters, and what is just as applicable in this country as elsewhere, is that this election should be about who is being proven right about the economy, and who is not.

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My Fantastic Stadium Plan

Watching the legislative session from the sidelines, instead of being in the trenches, is an interesting experience. It’s certainly been fun to watch the fecklessness, especially with regards to the stadium issue, which reached a new low yesterday when the super-secret GOP plan to pay for the stadium with general obligation, a.k.a. taxpayer bonds, was put forward. A plan that seemed to have the support of, well, a few people within the caucus I guess. Good enough for this legislature!

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