Allegating Arrogance


Photo: State Idiot Asylum © SUNY.edu
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Larry Neumeister/AP: NY judge orders prison for former Refco CEO

NEW YORK - The former head of Refco Inc., blamed for the collapse of one of the world's largest commodities brokerages, was sentenced to 16 years in prison Thursday by a judge who decried the "staggeringly arrogant" greed of white collar criminals.

AFP: French prosecutors seek charges against rogue trader assistant

One of France's big three banks, Societe Generale shocked the financial world when it announced in January staggering losses of 4.9 billion euros at the hands of a rogue trader. .. The bank incurred the colossal losses when it was forced to unwind more than 50 billion euros of unauthorised deals Kerviel is said to have made.

Probably not what they meant when they sought "asylum". . .

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I am reading concurrently, Kevin Phillips' Bad Money, much to the consternation of my Better Half, who grows tired of my agitated yelps of "Bingo!" and rereading David McCullough's biography, John Adams which, unlike the HBO series of the same name, sticks strictly to the facts of which Adams' himself stated "are stubborn things."

Later more thoughts to come about Phillips and printing money without printing money, a la the debasement of the measurements (aka the CPI and the GDP). But for now, suffice it to say: Bulleconomics can be reduced to the adage:
if you can't shave the silver, put your thumb on the scale.

A photo of home.

Not the asylum, but Syracuse, though my mom would think at times I should have been.

Now she understands the fire within!

Tell the world: My America Doesn't Torture!

"The wise man points to the stars and the fool sees only the finger - and discusses it 24/7 on cable."

Just tell Better Half that you are time traveling to a Catholic Church on a Friday night and you cannot control your delight from a piece of cardboard, nips of plastic and a tumbledrum! BINGO! And from the Fourth on the Mall in DC--"And this is my quest to follow this star no matter how right, no matter how wrong" ... "To reach the unreachable STAR!!!"
Happy fourth and may we keep on reaching!

Fun fact--Dale Wasserman who wrote Man of La Mancha was a financial management client of mine years ago and a purely delightful man.