October 2012 archive

Late Night Karaoke

Live Stream of Hurricane Sandy

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From Naked Capitalism.

The other day, bored with co-opting members of the Finance Committee, tired of issuing zero-collateral credit default swaps, I needed to amuse myself, so I ordered Ezra Klein and Andrew Ross Sorkin to dress up in sheep costumes.

This was hilarious for a few seconds.

Then, bored with Ezra and Andy as sheep I ordered them to get down on their hands and knees and say “bah bah bah”.

That was funny for two minutes, then it got boring again. So I ordered them (still on their hands and knees saying “bah bah bah”) to polish my gold Milton Friedman statue with a buffing wheel. This was hilarious for maybe five minutes, however it took them twelve hours to finish the job.

And while those two, the crème de la crème of US journalism (ha ha) were hard at work, me half watching them, half day-dreaming about student suckers going into debt to pay back bond-funded projects for me and my people, the following thoughts occurred to me:

Now that the State has been thoroughly co-opted, meaning now that my crew (the 0.01 percent) has sold out America’s future for a quick buck, what’s next?

People ask why Congress repealed Glass-Steagall, why put the country at risk of another 30s style Depression? The answer is simple: bucket loads of cash made them do it.

Did anyone believe deregulation would lead to increased wealth for the nation or the people?

Deregulation was designed to increase wealth for the chosen and talented people – If I were in charge of schools Atlas Shrugged would be required reading – oh wait, I own an 80% stake in the Ed Reform outfits run by Gates, Murdoch and Bertelsmann!. (LCB gets on the phone and speed dials Arne Duncan to dictate the first item on his Monday To Do List.)

So how *did* we get Goldman guys to control the Fed, Treasury and top positions in the Administration?

It was simple. Bucket loads of cash – the trick that never fails!

I’m thinking of attending the Goldman Halloween Party dressed as Ted Bundy this year. I’m thinking trillions of dollars in unregulated CMOs, I’ll provide margin collateral for long positions in Shanghai copper futures by writing credit default swaps on CDOs constructed from sub-prime mortgages backed by houses in Newark, New Jersey. And maybe the toxic bonds we unloaded on a few municipalites last week – hmm, let’s see – last week we did . . . Detroit, Atlanta, New York City, Laredo, Sacramento – and at least 7 more.

I’m thinking hypothecated derivatives, the total destruction of the world (except the top 0.01), rifle shots, the assassination of Brooksley Born, gambling muppet assets on a single structured finance product that bets on a steepening of the euro yield curve, issued by US investment banks by utilizing sovereign bonds from Greece and interest rate swaps with a Japanese trading house.

I love deregulation because it’s Heads I Win Tails You Lose. Every Time.

And what about the regulators you say? Remember the ones who tried to warn Congress about the dangers of deregulation, dark pools and derivatives…

Oh right, them. Brooksley Born is still living but she’s not talking. The others were lost in the Disposition Matrix. Yes, they were “disappeared”. Abducted and tortured, then dropped at night over the Atlantic ocean – either Jamie or Mike lent us one of his personal flying machines for that special op…

Shark bait, that’s what became of them.

There’s still some money in Social Security, Medicare 401(k)s and pensions. We’ll take that as well. Make up some story, something about a deficit or a Fiscal Cliff….oh wait, it’s already been done.

If all else fails, we still have access to the Fed’s Discount Window.

Now Ezra, now Andy, looks like you’ve got old Milton shining all purdy-like, so enough with the “bah bah bah”, shut the f**k up, get out of those stupid sheep costumes, go home and do whatever it is that you do.

Write a pro-Goldman column, attack Greg Smith, compare Gupta’s two year prison sentence to the Nazi invasion of Poland, whatever, just stay the hell out of my sight until my secretary calls you….

Lloyd C. speaks for me.

What’s Cooking: Pumpkin Soup

Cross posted from The Stars Hollow Gazette

Pumpkin SoupYes, I’m on a pumpkin kick but the the sweet, small “pie” pumpkins have been plentiful in the market this year and I found an easy way to roast them. But, is your lacking time, canned pumpkin works just as well. My favorite is Libby’s which can be found in most grocery stores year round and you cannot beat the pie recipe in the label.

So let’s start with picking the pumpkin. Pie pumpkins are small, about 8 inches in diameter and yield about two to three cups of puree per pumpkin. Like picking any squash, look for one that is firm, no bruises or soft spots, and a good orange color.

To bake the pumpkin: This method from The Pioneer Woman works amazingly well, except don’t cut up the pumpkin. I found it easier to clean the “guts” out after the pumpkin was cooked.

  • Pre-heat the oven to 350 degrees.
  • Place the washed and dried whole pumpkin on a cookie sheet. No need to cut the top off of cut it into chunks.
  • Place in the oven for about an hour. Remove and let cool.
  • Cut the cooled pumpkins into quarters and with a spoon, gently separate the pulp and seeds from the flesh. If there’s a little of the stringy pulp left, don’t worry, it won’t hurt.
  • Gently scrape the flesh from the skin with a spoon or a knife.
  • Place the gooey flesh in a food processor and pulse until smooth. A potato masher, food mill, hand-held immersion blender or a ricer work well, too.
  • As I said, you should have about 2 to 3 cups of puree per pumpkin.

    Now you’re ready to make soup. I’ve tried various recipes and ended up with my own version.

    Ingredients:

  • 1 small onion, chopped
  • 2 cups pumpkin puree
  • 4 cup unsalted vegetable broth
  • 1/2 teaspoon ground cinnamon
  • 1/4 teaspoon ground nutmeg
  • 1 cup light cream, or half and half
  • 1/8 teaspoon freshly ground black pepper
  • In a large sauce pan, heat 1/4 cup of vegetable broth over medium heat. Add the chop onion, and cook until tender, about 3 minutes. Add more broth if needed, do not let the onion dry out.

    Add the remaining broth, pumpkin, cinnamon and nutmeg. Bring to a boil, reduce heat and simmer for 5 minutes. Stir in the cream and cook until hot. Don’t boil.

    Ladle into warmed individual bowls and garnish with black pepper. Serve immediately.

    I serve the soup garnished with parsley and toasted pumpkin seeds, shredded Gruyere, croutons, chopped green onions and sour cream on the side.

    Storm Surge

    It’s really impossibly vain of me to suppose anyone cares, but there is a chance that underwater squirrels will attack my inter-tubz and disrupt the series of trucks that dump these ephemeral photons on your word TV thing.

    If you happen to notice any gaps or interruptions in the next few days or even failures of insight and inspiration I blame Global Warming.

    Yeah, that’s the ticket.

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    On This Day In History October 28

    Cross posted from The Stars Hollow Gazette

    This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

    Find the past “On This Day in History” here.

    October 28 is the 301st day of the year (302nd in leap years) in the Gregorian calendar. There are 64 days remaining until the end of the year.

    On this day in 1893, Symphony No. 6 in B Minor, Pathetique, the last symphony written by Pyotr Ilyich Tchaikovsky is premiered in St. Petersburg. Nine day s later, Tchaikovsky died suddenly at age 53 possibly from cholera but others have theorized that he might have committed suicide. Tchaikovsky was homosexual and often suffered from bouts of depression and doubts about his creative talents throughout his life. At one point while composing the 6th, he tore up the manuscript and discarded it.

    Tchaikovsky dedicated the Pathetique to Vladimir “Bob” Davydov, his nephew While the relationship was apparently never consummated, Davydov was reportedly one of the great loves of Tchaikovsky’s life.

    The theme in this first movement is most familiar since it has been frequently used in movies and songs.

    The second theme of the first movement formed the basis of a popular song in the 1940s, “(This is) The Story of a Starry Night” (by Mann Curtis, Al Hoffman and Jerry Livingston) which was popularized by Glenn Miller. This same theme is the music behind “Where,” a 1959 hit for Tony Williams and the Platters as well as “In Time,” by Steve Lawrence in 1961. All three of these songs have completely different lyrics.

    British progressive rock band The Nice covered Symphony No. 6 on their album Five Bridges.

    Tchaikovsky’s Sixth Symphony has proved a popular choice with filmmakers, with extracts featuring in (amongst others) Now, Voyager, the 1997 version of Anna Karenina, Minority Report, Sweet Bird of Youth,Soylent Green and The Aviator.

    Tchaikovsky’s Sixth Symphony has also been featured during the 2010 Winter Olympics closing ceremony, being danced by Russia’s national ballet team.

    Cartnoon

    John BarrymoreDr. Jekyll and Mr. Hyde (1920) (1:22)

    Isn’t it by serving others that one develops oneself?

    Which self? Man has two – as he has two hands. Because I use my right hand, should I never use my left? Your really strong man fears nothing. It is the weak one who is afraid of experience. A man cannot destroy the savage in him by denying its impulses. The only way to get rid of a temptation is to yield to it. With your youth, you should live – as I have lived. I have memories. What will you have at my age?

    Six In The Morning

    On Sunday

    More Jews praying on site also sacred to Muslims

    Israeli police and Muslim officials say the prayers at the Temple Mount-Al Aqsa mosque site are a provocation. Others call them a basic human right.

    By Edmund Sanders, Los Angeles Times

    October 28, 2012

    A simple, ancient ritual is threatening the delicate security balance atop Jerusalem’s most sacred plaza: Jews are praying.

    On most days, dozens – sometimes hundreds – of Jewish worshipers ascend to the disputed 36-acre platform that Muslims venerate as Al Aqsa mosque and Jews revere as the Temple Mount with an Israeli police escort to protect them and a Muslim security guard to monitor their movements.

    Then, they recite a quick prayer, sometimes quietly to themselves, other times out loud.

    Jewish activists call the prayers harmless acts of faith. Police and Muslim officials see them as dangerous provocations, especially given the deep religious sensitivities of the site and its history of violence. Twelve years ago, the presence of Jews on the plaza was so controversial that a brief tour by Israeli politician Ariel Sharon helped trigger a Palestinian uprising that lasted more than four years.




    Sunday’s Headlines:

    Wen Jiabao’s family deny ‘hidden riches’ report

    Call me Kuchu: The life and death of a gay rights campaigner

    Ukraine votes under watchful eyes

    Iran is being set up to fail, just like Iraq

    The doormen policing Egypt’s morals

    Late Night Karaoke

    Is a Vote for a Third Party a Vote for Change?

    Cross posted from The Stars Hollow Gazette

    A debate with four 3rd party candidates was held in Chicago October 23. The participants include former Salt Lake City mayor Rocky Anderson, former Virginia congressman Virgil Goode, former New Mexico governor Gary Johnson, and Green Party nominee Jill Stein, who ran against Romney in Massachusetts in 2002. It was first of two debates that feature candidates for president who were shut out by the Commission on Presidential Debates. A second debate will be held on October 30.

    That debate was not carried by any of the major television or cable networks. It was carried live on C-Span, Al Jazeera English and live streamed on the internet. A post debate discussion was held by Al Jazeera English with Michael Moschella, @MikeMoschella, founder of New Leaders Council newleaderscouncil.org; Jason Brennan, Professor at Georgetown University, author of “The Ethics of Voting,” jasonfbrennan.com; and Kevin Gosztola, @kgosztola, Blogger, Firedoglake.com.

    Polls show the US presidential election is a close contest. Yet a number of voters argue Obama and Romney are so similar that there’s no point in casting a ballot. Others say they will back a third party with no real chance of winning. By refusing to endorse Obama or Romney, could these citizens decide the next president and what would that mean? [..]

    The Al Jazeera article has some interesting perspective on the impact of third party candidates on the electoral college with reliable links and comments from their readers. We will ask the same question Al Jazeera did:

    What do you think? Are Americans who are voting for third-party candidates wasting their vote or changing the system? Leave your thoughts in the comments.

    Join us on October 30 at 9 PM EDT for the Live Stream of the Second Third Party Debate sponsored by Free and Equal Elections Foundation

    What We Now Know

    Up with Chris Hayes host Chris Hayes discusses what we have learned this week with his panel guests Richard Kim, contributor at The Nation; Ana Marie Cox, contributor at The Guardian; Michael Brendan Dougherty, The American Conservative; and Sophia Nelson, The Grio columnist.

    CEO to employees: ‘Help yourself’ by donating to Romney

    The CEO of a Florida-based software firm has repeatedly solicited his more than 1,300 employees not only to support Mitt Romney, but to donate up to the maximum $2,500 to Romney’s presidential campaign, suggesting that their jobs may be at stake if Romney doesn’t win, according to emails obtained exclusively by Up w/ Chris Hayes.

    Arthur Allen, the CEO of ASG Software Solutions – a $375 million company, according to Forbes magazine – sent an email to his employees on August 27th, the day before the scheduled start of the Republican National Convention, asking them to give up to the maximum individual donation to the Romney campaign in order to help the company stave off financial ruin and save employees’ jobs.

    “I am encouraging everyone to go to the Romney for President web site and contribute as much as you can to his campaign for President, up to the maximum of $2500.00 per person,” Allen wrote to his domestic employees. “I am also encouraging you to contact all of your friends and relatives and ask them to support Romney and to go to the polls and vote on election day.”

    Allen, a longtime donor to Republican campaigns, also noted that ASG had recently “tripped a bank leverage covenant” and would face new restrictions from its lenders as a result, but blamed reckless government spending for the financial state of the company.

    Plan for hunting terrorists signals U.S. intends to keep adding names to kill lists

    by Greg Miller, The Washington Post

    Over the past two years, the Obama administration has been secretly developing a new blueprint for pursuing terrorists, a next-generation targeting list called the “disposition matrix.”

    The matrix contains the names of terrorism suspects arrayed against an accounting of the resources being marshaled to track them down, including sealed indictments and clandestine operations. U.S. officials said the database is designed to go beyond existing kill lists, mapping plans for the “disposition” of suspects beyond the reach of American drones.

    Although the matrix is a work in progress, the effort to create it reflects a reality setting in among the nation’s counterterrorism ranks: The United States’ conventional wars are winding down, but the government expects to continue adding names to kill or capture lists for years.

    Among senior Obama administration officials, there is a broad consensus that such operations are likely to be extended at least another decade. Given the way al-Qaeda continues to metastasize, some officials said no clear end is in sight.

    “We can’t possibly kill everyone who wants to harm us,” a senior administration official said. “It’s a necessary part of what we do. . . . We’re not going to wind up in 10 years in a world of everybody holding hands and saying, ‘We love America.’ ”

    That timeline suggests that the United States has reached only the midpoint of what was once known as the global war on terrorism. Targeting lists that were regarded as finite emergency measures after the attacks of Sept. 11, 2001, are now fixtures of the national security apparatus. The rosters expand and contract with the pace of drone strikes but never go to zero.

    Let Detroit Go Bankrupt

    by Mitt Romney, op-ed in The New York Times on 11/18/2008

    IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, you can kiss the American automotive industry goodbye. It won’t go overnight, but its demise will be virtually guaranteed.

    Without that bailout, Detroit will need to drastically restructure itself. With it, the automakers will stay the course – the suicidal course of declining market shares, insurmountable labor and retiree burdens, technology atrophy, product inferiority and never-ending job losses. Detroit needs a turnaround, not a check.

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