Archive - Jan 22, 2010 - Blog entry

Q: Is Avatar a metaphor for "capitalism?" A: Yes, in James Cameron's populist vision of "capitalism." Q: Is the rape of another planet capitalism? A: No. Q: Is the movie left wing Hollywood schlock propaganda? A:Yes. Q: Is the movie marvelous entertainment? A: Yes. Q: Is it also something else? A: Yes.

Well, it looks like Blankein, Dimon, et. al. really should have tried harder to make that meeting with the President a couple of weeks ago. It appeared as if he may have had something important to discuss. Here is a clear break down of the how much principal and prop trading adds to the top and implied bottom lines of Goldman, Morgan Stanley, JP Morgan and Bank of America.

With regulation rising, fees shrinking, and taxes about to take a quantum leap up, who needs it? The scapegoating and demonization of hedge fund managers. Why become a witch, just as the Salem witch trials are starting? Have they no shame? You might as well pour sugar in the fuel tank of my Gulfstream.

One of the largest state-operated workers comp fund had massively misrepresented its performance. And you thought only Bernie could pull off multi-billion dollar scams...