July 27, 2012
While watching the HBO series The Newsroom, I think they hit upon an interesting concept. Let the regulatory agencies be funded by the industry they are auditing. That would create jobs, provide better pay for people and insure that there was compliance with laws already in place.
It works for small businesses. We pay to have our businesses audited every year to establish rates for compensation . Every business is also required to have liability insurance. It costs the small business and yes that is factored into our cost of doing business
Business and commerce are necessary, but at all levels. The lack of jobs for most people in this country and around the globe is causing mass anxiety. Everyone gets it, except those who caused the financial ruin of modern society; they’re either in denial or worse , they don’t care about “the little guy”. But if we’re so unimportant., why are they fighting to legislate away our rights? Why are they spending so much money to “win” the Presidency? What’ s the real prize? Is it power to do right for the electorate or is it power to amass more money for themselves. Making money is not evil, it’s good. It can make one’s life better, but you have to share. You have to give back to humanity. You have to ensure that everyone’s life improves. Not just yours. We’re all connected, we all need to live, to work, to be happy and to provide for our families.
The pursuit of life , liberty and happiness was guaranteed!
July 21, 2012
For the last week, every day, another scandal involving trillions of dollars , has been front page news. But there is no outrage, no cry for reform? Why not?
Have we become a society, that ceases to care about anything and anyone other then ourselves? So many suffering needlessly and there is no out cry for accountability. No demand for restitution of funds? I, like Joe Nocera of The New York Times and others covering the news, remain perplexed.
It’s like LesMiserables, if you steal a loaf of bread you could be imprisoned for life. But if you steal Trillions, no problem, there are no penalties?
The latest outrage did not involve Banks, the Parks commissioner sequestered $54 Million Dollars. That money could have funded at least 1000 jobs, or could have been used to fight forest fires and save homes and lives. Why wasn’t the agency audited and the money found and dispersed?
There is so much corruption, it seems that we have become numb to it’s incessant disclosure. While we lay dormant, our society is collapsing around us. This doesn’t have to happen. It’s not too late. We can take back our country and our values. But, first we have to admit that wrongs were committed and decide the proper course of action. Saying sorry and apologizing shouldn’t be enough. People are going hungry.
July 20, 2012
Reading and relaxing, a good California Cabernet in hand, what do I find interesting?
1. As predicted Japan may have to import rice and lower their tariffs. Who can blame them, Rice is their staple and it should be non radio-active!
2 . Rail freight may return to Brooklyn and Statin Island. Rail freight should increase jobs and lessen road congestion and pollution while decreasing the costs of goods sold. As a small business owner, selling carpet, freight has gone from 30 cents a yard to over $1.51 cents a yard depending upon the goods delivered.
As a child, my Dad’s warehouse had it’s own rail road siding. Three generations watched the rail road cars deliver our lumber. I remember my kids eagerly awaiting the trains and waving to the conductors as the trains came to a halt, if we had deliveries, or just watched in awe as those long rail cars rolled on. A bygone era?
3. A gene map to fight colon cancer funded by 2 government agencies: the National Cancer Institute and The National Human Genome Project. One Harvard scientist believes these results will change the therapy landscape. Now that’s exciting. Next and more research required, please.
4 . US drought triggers world food crisis. Why can’ t we use abandoned factories or grow food hydroponically, like the Israeli’s do? There must be plenty of crops to be grown using less water. Should be sustainable farming for a community at least. Why not give it a try? Might even find an alternative source for oil?
July 20, 2012
Every day while on vacation in Paris I read the Financial Times. Another day, another scandal. It seems there is no end to Banker’s greed. Nor is there an end to the Greed seen round the world. those who have been in a position to take advantage of their situation have done so. It doesn’t matter if they are bankers or real estate moguls or pharmaceutical company executives. These people have no shame and They have no skin in their games. They are playing with other people’s money. Sound familiar, OPM all over again but on a scale large enough to bring down the world’s economy.
When do most of us begin to care ? When do we join forces and demand that institutions and their executives and their boards , be accountable? When is it enough? I for one can’t read and comment on these events any longer. I know Glass Steagall and other reforms should be re-instated. I know that fixing our monetary system is the first step toward stability.
The 2nd step, in the USA is the total repeal of Citizens United. No new stop gap measures. No more Super Pacs. No more financial loop holes. It’s enough. More then enough we should get back to the business of running our country;
“by the people for the people.”
Which brings me to new topics to be addressed. Like: what do we do about the drought? How do we encourage physicists to create in their own fields and leave the financial sector? How do we modernize mass transit? How do we improve health care delivery? How do we improve our educational system? So many questions, so many solutions and so many potential jobs being wasted as we read with horror about the next financial disaster or the next gossipy tidbit involving candidates for elective office. Really, it should be enough!
July 8, 2012
It appears that their are several organizations established to shelter political contributions.
1. Tax exempt charities
2. super pacs
3. Social welfare organizations (supposed to be educational, but become campaign attack ads)
4.Groups such as The Chamber of Commerce/ExpressScripts/the Center for Political Action/Unions/corporations
All these entities give money directly or indirectly to politicians or to organizations that influence the political outcomes desired by these entities.
Shouldn’t this money be spent on job creation rather then politics? With so much money available to peddle influence, it’s a shame that the people are no longer the winners in this society. Think about it, do you really want to see the battle of the Titans daily at your expense?
July 6, 2012
It’s a little disingenuous to propose to jump ship once you are taxed for egregious corruption. See article 7/5 Financial Times. Taxation, In France, is not about class war fare, all taxes and laws implemented now are not targeted at a blameless few. Rather, steps are necessary to bring revenue back to society.. The method may generate debate in all countries. However, most people are not angry with those who accumulated wealth honestly. They are angry with those who stole their Nation’s wealth thru corrupt means.
This is the new age of fiscal terrorists. Those responsible for bringing billions of people misery should be punished and should lose their entitled play grounds. They have left nothing for the rest of us.
Worse as they cry foul and state that no progress will be made, these are false claims.. Businesses have had plenty of time to innovate growth. What plans have they devised to put people back to work? To preserve the middle class? To create an industrial environment that values the collaboration of new ideas? Where are the brilliant CEO’s being held back by new taxes and new laws?
Why are they so recently concerned with the fate of small business.? Get our societies growing again and there will be a return of small and medium sized businesses. Small business depends upon economic growth as do the rest of us.
Certainly there is room for debate. our goal, according to Andrea Leadsom a conservative MP & part of the treasury select committee, is to get back to the ethos ” my word is my bond” .
July 5, 2012
The market society has existed in the financial sector since the mid 80’s. Back then the abuses of power and the manipulation of funds did not impact the economy, because Banks were not 30% of GDP.
When I was a Bank Vp , fraud existed but the magnitude of the frauds were limited to millions not billions of dollars. Did Bankers live well, did they have country clubs and perks, you bet. But there was a desire at one of the more aggressive Banks to understand their business: there were no cover-ups going undetected and a very real effort to instill accountability.
Now, nobody and , everybody is guilty of corruption and greed for short term gains. the system is rotten and there is little shame attached to bringing down the world’s economies. it is time, past time, to bring those responsible to justice and levy heavy fines for their crimes against humanity.
However, none of these solutions can be Implemented , until and , unless we re-instate laws to prevent another fiscal crisis from occurring. Glass Steagall is the 1 st law proposed for implementation; deregulation does not work. Too many loopholes , means no compliance to “loosely ” formulated rules. Our institutions need structure and laws. No more misinterpretations should be possible, this has led to chaos and suffering. Enough….
I believe the ‘people” understand what has happened and will demand that justice be done before a 2nd fiscal crisis ensues.