and thought it was a good idea to make sure people read and see this story from the NYT.
An interesting perspective from someone caught in the middle of everything.
Wednesday, March 25, 2009
Monday, March 16, 2009
Comedy show episode thoughts...
I won’t waste anyone’s time with saying I have not posted and all that jazz. One thing peaked my interest recently when I was watching the clips of CNBC’s “Mad Money” host Jim Cramer on the Comedy Channel’s The Daily Show. I am not going to get into the media fueled feud and state some random points. They talked in three segments discussing Stewart’s complaints that CNBC did not expose the debt to asset ration the banks carried for years on mortgages. Stewart felt they should have done a better job of exposing the leverages and done way less discussing the stocks and showing them off to be good companies. Cramer – who is known for his TV show - used manage a hedge fund and has made more money off the stock market than most of us can imagine doing so in our lifetimes.
Several thoughts…
After watching the interview, I was taken aback how relaxed Cramer took the onslaught from Stewart. The more I thought it though, it made complete sense. Cramer had no way of winning an argument on that show. The only benefit for him is simply attracting some from the “Daily Show” audience.
Stewart makes the same statement I have heard a million times - those banks with large debt to asset ratios should take the responsibility for selling adjustable rate mortgages to homeowners. I am still waiting for someone to clarify the relationship between the two parties. Did someone make those people take mortgages they would eventually not afford? How does the way banks manage their assets and debt impact what people decide they can afford for their living quarters. It does not and never will.
Stewart shows videos from 2006 with Jim Cramer discussing how hedge fund managers can influence prices in the stock market. In short, they can bring down and push up prices by reporting different things that may not be accurate. What is concerning is Jon Stewart’s take shows something significant – he has never done any reading on the stock market or people in general. The reporting of inside information is a very old practice that has been going on for some time – like since the stock market came into play. Stock prices go up and down based on news which a good percentage of it is rumors and speculation. Regardless of what happens now, this practice will never stop and will become more prevalent the more media coverage the stock market receives as well other world news. That is an undeniable fact.
Stewart thinks the media should take responsibility for not exposing the leverages a long time ago. I would like to ask when people are going to start requesting the Big 4 auditing firms take some responsibility for not exposing and stopping the practice of leveraging loans. Most firms claimed the derivatives were tough to account for and these companies are stocked with Ivy League MBA’s, the supposed best and brightest. Everyone looked the other way and had a good time.
One last thing is Stewart is funny because he was so busy pointing the finger except at the man in the mirror. I would be interested in finding out how much Stewart made in the stock market during the uptick years. That was not ever even discussed but his poor mother I guess has lost a lot of money according to the end of the interview. If your mother was completely invested in the stock market and not in conservative investments based on her age… Shame on her. Shame on Stewart because I guess he must be watching his mother be destitute as he continues to host a TV show.
And there you have it.
Several thoughts…
After watching the interview, I was taken aback how relaxed Cramer took the onslaught from Stewart. The more I thought it though, it made complete sense. Cramer had no way of winning an argument on that show. The only benefit for him is simply attracting some from the “Daily Show” audience.
Stewart makes the same statement I have heard a million times - those banks with large debt to asset ratios should take the responsibility for selling adjustable rate mortgages to homeowners. I am still waiting for someone to clarify the relationship between the two parties. Did someone make those people take mortgages they would eventually not afford? How does the way banks manage their assets and debt impact what people decide they can afford for their living quarters. It does not and never will.
Stewart shows videos from 2006 with Jim Cramer discussing how hedge fund managers can influence prices in the stock market. In short, they can bring down and push up prices by reporting different things that may not be accurate. What is concerning is Jon Stewart’s take shows something significant – he has never done any reading on the stock market or people in general. The reporting of inside information is a very old practice that has been going on for some time – like since the stock market came into play. Stock prices go up and down based on news which a good percentage of it is rumors and speculation. Regardless of what happens now, this practice will never stop and will become more prevalent the more media coverage the stock market receives as well other world news. That is an undeniable fact.
Stewart thinks the media should take responsibility for not exposing the leverages a long time ago. I would like to ask when people are going to start requesting the Big 4 auditing firms take some responsibility for not exposing and stopping the practice of leveraging loans. Most firms claimed the derivatives were tough to account for and these companies are stocked with Ivy League MBA’s, the supposed best and brightest. Everyone looked the other way and had a good time.
One last thing is Stewart is funny because he was so busy pointing the finger except at the man in the mirror. I would be interested in finding out how much Stewart made in the stock market during the uptick years. That was not ever even discussed but his poor mother I guess has lost a lot of money according to the end of the interview. If your mother was completely invested in the stock market and not in conservative investments based on her age… Shame on her. Shame on Stewart because I guess he must be watching his mother be destitute as he continues to host a TV show.
And there you have it.
Monday, February 23, 2009
A few Monday thoughts
A few things that have passed my way these days...
- The expected turnout for the City of Detroit Mayoral primary is to be 15%.
This is extremely sad considering how important this vote if for the city. It makes you wonder what is the breaking point for the city and those who live inside the borders.
- Initially I found this clip funny. As I thought about it more it starts to scare the hell out of me. Much like what I asked in the first bullet here, I wonder when the brink will take place and what will happen when that brink occurs. Too many people pay their mortgages on time with no issues then turn around and ask those same people since they are diligent to help those who are not so timely. I will write more on this as time goes on.
- We are for sure in a new world when you see articles like this one. Big Brother seems to be progressively creeping in to our world and making us pay for it.
- Watching the Pistons lately is a test of endurance. It is brutal to watch and has forced me into a position I never thought I wouls find myself in - understanding and respecting the effort that Chauncey Billups put in during his time here. Of course if you just look at the Denver Nuggets - Chauncey's new team - they have been playing very good basketball since Mr. Big Shot's arrival. Sometimes you don't know what you have until you lost it.
- I usually do not get caught up in hype because 9 out of 10 times that is all it is. The results never match the excitement and disappointment ensues. That is what happenned last yar with the Detroit Tigers. Sure if you open the paper these days, you see alot of excitement coming from Spring training - proof warm weather is actually in reach - but that is all it is right now - excitement. I am back to where everyone should be - excitement over results. Tell me when they are winning games.
- The expected turnout for the City of Detroit Mayoral primary is to be 15%.
This is extremely sad considering how important this vote if for the city. It makes you wonder what is the breaking point for the city and those who live inside the borders.
- Initially I found this clip funny. As I thought about it more it starts to scare the hell out of me. Much like what I asked in the first bullet here, I wonder when the brink will take place and what will happen when that brink occurs. Too many people pay their mortgages on time with no issues then turn around and ask those same people since they are diligent to help those who are not so timely. I will write more on this as time goes on.
- We are for sure in a new world when you see articles like this one. Big Brother seems to be progressively creeping in to our world and making us pay for it.
- Watching the Pistons lately is a test of endurance. It is brutal to watch and has forced me into a position I never thought I wouls find myself in - understanding and respecting the effort that Chauncey Billups put in during his time here. Of course if you just look at the Denver Nuggets - Chauncey's new team - they have been playing very good basketball since Mr. Big Shot's arrival. Sometimes you don't know what you have until you lost it.
- I usually do not get caught up in hype because 9 out of 10 times that is all it is. The results never match the excitement and disappointment ensues. That is what happenned last yar with the Detroit Tigers. Sure if you open the paper these days, you see alot of excitement coming from Spring training - proof warm weather is actually in reach - but that is all it is right now - excitement. I am back to where everyone should be - excitement over results. Tell me when they are winning games.
Monday, February 16, 2009
A few notes from driving
When was it custom to always have your bright lights on regardless of what time of day it is? It seems strange but I am encountering this more often these days and obviously wish it was not the case. What reason does someone have to even have them on in the first place unless you going down a dark country road? Trust me when I say I am not on any dark country roads.
On another note - Is it me or are the police officers out and about way more than they have in the past?I feel like I see someone pulled over every day now. This has never been the case. Could it be a shameless way raising funds for the different municipalities that currently have little cash flow? If that is the case, I guess my tax dollars are not enough. Hopefully I stay employed to at least pass those along.
On another note - Is it me or are the police officers out and about way more than they have in the past?I feel like I see someone pulled over every day now. This has never been the case. Could it be a shameless way raising funds for the different municipalities that currently have little cash flow? If that is the case, I guess my tax dollars are not enough. Hopefully I stay employed to at least pass those along.
Sunday, February 8, 2009
Yes - There are some good people out there
I ended up seeing CBS "60 Minutes" this evening. Tonight's episode featured an interview with the team that worked Flight 1549. Most of the feature focused on the Captain Chesley "Scully" Sullenberger. It was very refreshing to finally see someone do something so awesome yet be so humble at the same time. He is doing his share of interviews while at the same time there has been no egotistical chest pumping. I think he is treating the series of interviews as a duty and not one for building any of his ego. He realizes as a whole that he saved not only the people on the flight but kept many children from growing up with one less parent.
One significant moment was when there was a reunion between one passenger and Sullenberger. The passenger had lost his brother in 9/11. He thanked Sullenberger for keeping his family from enduring another loss due to a plane crash. IT was a loss the passenger did not think his family could go through again.
One significant moment was when there was a reunion between one passenger and Sullenberger. The passenger had lost his brother in 9/11. He thanked Sullenberger for keeping his family from enduring another loss due to a plane crash. IT was a loss the passenger did not think his family could go through again.
Wednesday, February 4, 2009
More than meets the movie eyes
So I see the Detroit area and I See we are looking to be Hollywood's step sister with the opening of not one but two film studios. Much of this is a direct result - gasp! - tax breaks offered to the industry. The papers are reporting close to 6000 new jobs as a result of it.
Follow along if you will. You offer tax breaks and you add jobs. Adding jobs adds to the state's tax base. That means the government has more money than they did before. If they did not offer the film industry such tax advantages, they probably would have not come to Michigan. That would mean there would not be 6000 new jobs ans tax revenue.
Class - If we were to use logic, what should Michigan do across the board with different business sectors? Why is something so damn easy so hard to do?
Follow along if you will. You offer tax breaks and you add jobs. Adding jobs adds to the state's tax base. That means the government has more money than they did before. If they did not offer the film industry such tax advantages, they probably would have not come to Michigan. That would mean there would not be 6000 new jobs ans tax revenue.
Class - If we were to use logic, what should Michigan do across the board with different business sectors? Why is something so damn easy so hard to do?
Tuesday, February 3, 2009
The next season is fastly approaching...
Ok...so seriously - my efforts here have left some to be desired... I am looking at posting something... anything... for the next several days. I have ideas but time gets away from me
by the time I get even remotely to sitting down to write them out.
I have all my paper work to do my taxes and will be looking to do sometime in the next week or two. Of course since I expect to get money back, there is a reason to do my taxes in a timely manner.
I bring this up because it seems everyone that Obama is appointing many people who can't do their taxes correctly to the point that they are resigning at the moment they are exposed for their error.
This brings to light the question - why do taxes need to be so difficult? Why do they need someone with a secret decoder ring to do them with any success and limited errors? When is the flat tax - advocated forever by billionaire Steve Forbes - going to be put in and wash all that IRS tax code away?
None of this will take place as long as IRS employs so many people. It will not happen while HR Block and other tax accountants are breathing air. It will not happen while the US government shows a complete disinterest in efficiency at all levels.
All of it is a shame but seems to be a necessary evil. Oh well - buy some software, put in some numbers and hope you do not owe and maybe get back a little more than expected.
by the time I get even remotely to sitting down to write them out.
I have all my paper work to do my taxes and will be looking to do sometime in the next week or two. Of course since I expect to get money back, there is a reason to do my taxes in a timely manner.
I bring this up because it seems everyone that Obama is appointing many people who can't do their taxes correctly to the point that they are resigning at the moment they are exposed for their error.
This brings to light the question - why do taxes need to be so difficult? Why do they need someone with a secret decoder ring to do them with any success and limited errors? When is the flat tax - advocated forever by billionaire Steve Forbes - going to be put in and wash all that IRS tax code away?
None of this will take place as long as IRS employs so many people. It will not happen while HR Block and other tax accountants are breathing air. It will not happen while the US government shows a complete disinterest in efficiency at all levels.
All of it is a shame but seems to be a necessary evil. Oh well - buy some software, put in some numbers and hope you do not owe and maybe get back a little more than expected.
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