Posts filed under “Really, really bad calls”

Transparent Government: NY

SeeThroughNY is a site run by right wing think tank Manhattan institute. It scrapes publicly available data to show the salaries and pensions of just about everyone in NYS who is on the public payroll, from the Governor to cops & firemen to your local teachers:

SeeThroughNY: A place for taxpayers to download, share, analyze and compare data on public payrolls, expenditures, contracts and taxes.

This is the sort of public information that should be available to taxpayers — and voters — at every level of government, from the US Federal Government to the smallest local town.

And, that should include campaign contributions. Everyone who buys a congressman donates to any campaign should have that information disclosed on the web. That includes corporations; No one  should not be able to hide behind nonprofit 501(c)(4) organizations to anonymously push their own corporate agenda.

Somehow, the Supreme Court has gotten this totally ass backwards. The rule is “One man, one vote” — not one Dollar, one vote. That the court has gotten this so wrong is a national embarrassment.

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Invictus discusses the impact of this on state employee pension plans here: Transparent Government: Part II

Category: Legal, Politics, Really, really bad calls

Why Foreclosure Fraud Is So Dangerous to Property Rights

There seems to be a misunderstanding as to why the rampant and systemic foreclosure fraud is so dangerous to American system of property rights and contract law. Some of this is being done by people who are naked corporatists (i.e., the WSJ Editorial Board) excusing horrific conduct by the banks. Others are excusing endemic property…Read More

Category: Credit, Foreclosures, Legal, Real Estate, Really, really bad calls, Regulation, Taxes and Policy

Elections: Money Talks Louder Than Ever

From today’s NYT:

The dominant story line of this year’s midterm elections is increasingly becoming the torrents of money, much of it anonymous, gushing into House and Senate races across the country.

Your Supreme Court, hard at work taking Democracy apart in America:

click for larger graphic

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See video here: Money Talks Louder Than Ever in Midterms

Read More

Category: Digital Media, Politics, Really, really bad calls

The Blundering Herd

> How’s that for an awesome article title? Its from a Vanity Fair article excerpting Bethany McLean and Joe Nocera’s new book, All the Devils Are Here: The Hidden History of the Financial Crisis.  The book is being touted as “The inside story of the collapse of Merrill Lynch — How a “Fantastic Lie” and…Read More

Category: Bailouts, Corporate Management, Really, really bad calls

Do You Wanna Be Right, or Do You Wanna Make Money?

My inbox is deluged with rants and demands from people who are insisting that This. Rally. Must. End. NOW! A composite of their emails would read something like this: “How can you sit there so blithely while the Fed debases the world’s reserve currency? Why haven’t you commented on POMO?!? The entire game is rigged,…Read More

Category: Apprenticed Investor, Investing, Markets, Psychology, Really, really bad calls, Trading

Fed: We Can Support Asset Prices for the Public Good

Consider the following statement: “Nevertheless, balance sheet policy can still lower longer-term borrowing costs for many households and businesses, and it adds to household wealth by keeping asset prices higher than they otherwise would be.” So said Brian Sack, the head of the New York Fed’s markets group. Marketbeat responded with a post titled: Dear…Read More

Category: Federal Reserve, Really, really bad calls

Aerial Footage: Portrait of a Housing Bust

Fantastic set of aerial photos from Google Images (by way of Boston.com’s Big Picture), showing Florida’s developmental disaster.

The images of half finished (and barely started) developments are strangely beautiful, with a geometric symmetry that belies the state of human misery these developments represent: Lost deposits, bankruptcy, misallocated capital.

That an entire nation can be so innumerate as to believe in a mathematical fallacy is weirdly fascinating . . .

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Florida Housing Bust

More images after the jump . . .

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Category: Credit, Real Estate, Really, really bad calls

Tea & Crackers with Matt Taibbi

I’ve been meaning to post something this week on Matt Taibbi’s fantastic new piece on the Tea Party (Tea & Crackers) but I just hadn’t gotten around to it. My pal Paul Kedrosky did such a nice job setting it up that I am just going to crib it from him: > Agree or disagree…Read More

Category: Politics, Really, really bad calls

AIG Repaying Uncle Sam? Not By a Long Shot

Today’s AIG announcement has generated some surprisingly naive headlines. The company may have announced U.S. bailout exit plan, but that does not make it so. (Citi’s numbers don’t look any better). Let’s take a closer look at the numbers and separate the facts from fiction: Total Bailout: $182.3 billion dollars Amount Still Owed:  $132.1 billion…Read More

Category: Bailouts, Really, really bad calls

Black Ducks & EMH Origins

Two quick non MSM pieces worth reading this morning: • The Reformed Broker:  Sometimes It’s Just a Black Duck “The trouble with the Recency Effect is that everyone all of a sudden thought they were Nassim Taleb, orinthological experts on the spotting of Black Swans.  Every blip on the screen or blurb in the newspaper…Read More

Category: Contrary Indicators, Psychology, Really, really bad calls