Saturday, August 31, 2013

Force Out J. P. Morgan's Jamie Dimon: Mary Jo White Should Constantly Annoy Him To Leave

The collapse of the housing bubble and the following demise of Bear Stearns, Lehman Bros. AIG , Freddie Mac , Fannie Mae  and other widespread financial shocks that still reverberate around the world today was a mini replay of the Great Crash of 1929. Following the '29 Crash an investigation into the cause was after fits and starts successfully led by New York Assistant District Attorney Ferdinand Pecora. His background was prosecuting gangsters. He exposed the constructively criminal behaviors of the banks most notably National City Bank (Citigroup). He forced National City Banks Chairman Charles Mitchell to resign. Then and now it would be difficult to bring criminal charges against powerful Wall Street bankers. The legal hurdle of criminal intent is difficult to prove. So Pecora hounded him out of office. Later The Securities and Exchange Commission was formed and laws were codified.. Ferdinand Pecora was one of the first SEC Commissioners.

The present Chairwoman of the SEC is Mary Jo White. She also has a background in New York of prosecuting gangsters and terrorists. Like Pecora she plays hardball. But it still remains difficult if not impossible to get higher - ups in Wall Street banks to get and win criminal indictments. J P Morgan's Jamie Dimon is poster boy for the rogues on Wall Street. At the present time , his bank is subject to over 25 different major law suits related to the financial melt down.Collectively they add up to the profile of a criminal enterprise. The bank should be prosecuted under RICO statutes.But that won't happen because of the realities of our legal system and the political power of Wall Street firms..

But there is an old fashioned way to get rid of Dimon and others like him. Harass him.Annoy him. Roust him.Bother him. To that purpose Mary Jo White should routinely invite/deman Jamie dimon come to her office for short questions.The meetings could only be for a half hour. But people like Jamie Dimon will fume. He won't tolerate being shoved around by a five foot , smart, pugnacious woman who can make trouble for him if he doesn't show manners.He didn't become Chairman of J P Morgan for this kind of treatment.

Sunday, August 18, 2013

Downton Abbey & American Black Audience : Culture Difference Miss

I don't normally watch The Tavis Smiley Show on PBS. But the black activist host had two guests from Downton Abbey this week. One was the creator of the series Julian Fellowes and the other was Elizabeth McGovern. She is a leading character of the 23 diverse, marvelous, multi-demensial characters who rotate into the screen of this immensely popular miniseries. How popular? It's worth noting its accolades ,

1) Golden Globe Award For Best Miniseries

2) Primetime Emmy Award For Outstanding Miniseries

3) Recognized by Guinniss World Book as the Most Critically Acclaimed English-Language Television Series in 2011

4) It Earned the most nominations of any entertainment television series in the history of Primetime Emmy Awards.

5) It was the most watched TV show series on both iTV and PBS.

6) Became the most successful British Costume Drama Series since the 1961's Brideshead Revisited.

7) By the third season, it had become one of the most widely watched TV shows in the world.


But not to Smiley, who according to Time Magazine, is one of the Most Influential Media Persons in the World. I kid you not. Just look at his PBS advertising

Smiley asked Fellowes, " Why aren't there any blacks in the series?."  Fellowes replied with a hint of his crest being jostled , " In season four we feature a successful black entertainer. He's portrayed as an equal in stature to the rest of the cast without any of the victim status that so permeates the usual characterizations of blacks in media today."

 Smiley's crest tumbled.  He closed the show somewhat abruptly. He thanked Fellowes and almost forgot to thank Elizabeth McGovern. After all , how did Smiley succeed if not for a victim status award ? He achieved notoriety by the Civil Rights Act 's influence in relaxing of school grading standards and a legally forced integration and affirmative action to make him and people like him more comfortable? And besides Tavis, Lord Grantham didn't need hard -headed black house help when he had plenty of hard-headed Irish.

Maybe Tavis will interview a native African whenever he or she is awarded a patent on anything whenever that happens?.

Thursday, August 08, 2013

Technology Driven Deflation Is Pushing Us Towards Barter System

The unions have gone away. The middle class is going away. Wages are going away on a relative basis when buying power and less hours worked are added up. The Federal Reserve for all intents and purposes is giving money away. to offset the realities of deflationary trends. So far the drunken sailor monetary policy has failed to reignite job growth or wage increase in any satisfactory way. What's to be done? Well its being done. Technology driven deflation is pointing the way to salvation. Salvation will be a barter system. If adopted, a bartering society will erase unemployment immediately. It will also point out people who are worthless to themselves and by implication to society. Barter will also humanely kill off  bureaucrats . There won't be any checks to cash There won't be any interest to collect. And military proxy wars will go away. And humans will take their place and only one place. They won't be able to "invest" in corporations that decimate the planet. Rhinos and other endangered species will get a pass also.

 Barter and kill a bureaucrat or investor. Sounds good to me.