Sunday, March 22, 2009

PennyWise -OR- Pound Puppies?

I've mentioned Parkinson's Law and its adjunct "law of triviality" before. In current coverage of the juggernaut clusterfuck we are witnessing, it is on display in full peacock mode, so it bears repeating elst you think it meaningful.

Everybody wants to get into the act and vent a spleen over AIG's hubris, the treasury's gaffe, the shocking outrage of these outrageously shocking revelations...
Meanwhile, back at the trough, the picky-eaters club is not quite so selective.

In the grand scheme of things, one thousand "million dollar bonuses" is only a billion dollars. Note: It's important to remember what and who rendered a BILLION into the "ONLY" category. We have complete unknowns weighing in on the outrageousness of the AIG bonuses. Sucking up airtime and oxygen to blather onandon about the identical outrages that bloggers have been documenting for what feels like forever. That's a good thing? To stand before the American people and admit that you're 10 years behind? To now pontificate with bombast formerly reserved for blowjobs, steroid pumped athletes and the democrat(sic) party about the natural outcome of 30 years of deregulation and non-existent supervision? Oh, Bravo! x 2

The financial crisis birthed several decades ago. That's when the first genetically enhanced, ethically challenged money men joined the tight-fisted stodgy bankers' club. That's when it became acceptable to ignore alarms and red flags as long as at the end of the day, the coffers were full. Financial instruments became product in a vending machine. That's when the race became a sprint. Surrendering stability and long-term sustainability for short-term gain. For many it was a road to riches, but TANSTAAFL. Their gain was somebody's loss.

That's when the facade was constructed to hide the shenanigans. The money guys bought and paid for a first class street view Boiler Room with all the amenities.
They dutifully test marketed their bogus products and services until they were accepted as routine transactions. Routine transactions that nobody fully understood, but that was easily solved by dangling 20-30% R.O.I. carrots.

But back to the matter at hand which is the outrage, bloodlust and scenery chewing speechifying currently running at full-tilt eleventy boogie. Toss in cotton candy and a flying elephant and you got yourself a spectacular spectacle of a sideshow.

So comforting to know YOU'RE on the case now. So whatcha got for the victims? Tell me how you're hot on the paper trail and that Bernie Madoff is more than tokenism.
Tell me that you're gonna make it illegal to be an ignorant, arrogant bullshitter who sucks the promise out of tomorrow. Funny, that's not what I'm hearing emanating from your blowhole. Only pandering indignation. That may play well on the rubber chicken circuit, but it's still all show; no go.

It is in times just. like. this. that a clear voiced Steve Gilliard would be indispensable to cut through the bullshit, right to the meat. The meat of this story not being the mostly symbolic, "cuz we can" bonuses, but the takings that continue to drive the insanity bus we find ourselves on.

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