Bits & Pieces (Thursday Night Open Mic)

Real-life superhero Phoenix Jones arrested for being over-enthusiastic with pepper spray.

In the mid-80s, Mick Fleetwood of Fleetwood Mac came up with a solo album. I loved the one video released from it, and the song, but it’s almost impossible to find. But, here it is.

For the video shoot, Mick Fleetwood shaved his beard. Probably shouldn’t have done that. Fans of Lindsey Buckingham will note that the video sounds very much like Lindsey Buckingham, both in terms of the singing and the writing.

I had a friend who was a musician during the 80s (he’s still a musician, but the story is from the 80s). He wrote a song called “Wrestling with Girls” that got picked up by local wrestler, Jerry “The King” Lawler. Amazingly, I was able to find it (or a segment featuring it, done on Jerry “The King” Lawler’s 80s talkshow) on YouTube. YouTube, is there anything you can’t do? The song starts at 5:56 . . .

What does this have to do with Mick Fleetwood’s “I Want You Back” sounding more like Lindsey Buckingham than Mick Fleetwood? Well, I had a copy of this song before Lawler decided he wanted to release it as a single. With the exception of the announcer segment, which is clearly Jerry Lawler, the song sounds identical. So imagine my youthful surprise when I heard the version with Jerry Lawler . . . and it was still Steve Cox. I think Jerry Lawler can be heard, off-tune, far in the background, if you listen closely.

A wrestler faking singing a song. Can you imagine it?

If you watch any of the leading in video (I did, for the first time since 1986), you’ll notice Steve was a uber-geek. I don’t remember him being such a big geek. Interesting how our perspectives change over time.

Anyway, for evidence that folks move in different directions as time passes, take a look at some of the traditional native American flute playing Steve was doing about 7 years ago as Voice of Golden Eagle. Same guy, extremely different vibe.

It’s really solid. “That was sunset song.”

— KW

Bits & Pieces (Hump Day Edition)

Anyone who didn’t follow Tao’s link to Critical Massachusetts blog documenting the protests, apparently, of parental injustices by his children (and dog) must do so now.

Finally, the true story of the founding of our country can be told:

I’d totally go see that movie.

Corporate Zombies are a bigger problem than perhaps some believe. Re: Your Brains:

And, speaking of work ethics (as we were earlier), this is pretty much the story of my life:

— KW


My 2008 Defense of Glass-Steagall

I originally posted this in 2008. I meander a little bit. Re-reading it, it sounds like I’m suggesting a lot of things were the result of the Glass-Steagall repeal that were largely unrelated . . . so this argument is flawed. But, I post it as an anchor point for others to advocate a return to Glass-Steagall or to object to any such foolishness. That being said, here it is:


Each time we repeal the Depression era legislation meant to prevent the sorts of collapses we saw in the late 20s/early 30s financial markets, we end up with a financial crisis. Has it ever occurred to those folks that those rules were there for a reason?

In 1933, the Glass-Steagall Act established the Federal Deposit Insurance Corporation, and one very important thing that it did was prevent large private banks–i.e., investment banks–from receiving deposits–i.e., servicing the little guy, and thus end up putting the little guy’s money at risk in speculative corporate and real-estate investments. The idea being to keep investment banks from becoming flush with the savings of middle- and lower-class folks and playing with that money in the marketplace–in no small part to allow for the creation of the FDIC, and keep the government from having to bail out the big investment banks if they ended up losing all their customers’ deposits in the stock market or in real estate speculation.

Between 1933 and 1999–that’s 66 years–we never saw a banking crisis like the one we face now. The closest would be the S&L collapse, and that was in no small part because of a 1982 law letting S&Ls do with their money the sorts of things Glass-Steagall forbade large investment banking firms to do. In 1999, Glass-Steagall was repealed. 8 years later, the financial industry in America is in a mess.

And fixing it doesn’t require a lot of new regulation, or new oversight. There was some corruption here, but most of the mess was made the old-fashioned, completely legal way. The quick fix is pretty simple: Bring Back Glass-Steagall.

Of course, the important issue right now is not how to fix this, but who to blame: Democrats or Republicans? While in the political class they are both blaming each other, the correct people to blame–as it almost always is in this sort of circumstance–is pretty much everybody.

This is a bi-partisan mess. And, certainly, providing incentives to lend to folks with bad credit–out of a misplaced sense of compassion or feeling that too few loans to minorities with poor credit was a sign of racism–was a bad idea. That’s what conservatives are pointing to, and they have a point, but that’s hardly the whole cause of the problem.

Repealing Glass-Steagal was also a very bad idea (and lobbied for by both Democrats and Republicans, and signed by Clinton), because it allows too much intermixing of financial service entities, putting them all in the same leaky boat. Just as the S&Ls failed because they could legally invest in all sorts of crappy investments in order to book short term profits and attract customers with unrealistically high interest rates, allowing investment banks to buy bundled mortgages put both sectors at risk–if the mortgage industry had a crisis, then mortgage companies and investment banks could fail. If the investment banking industry had a crisis, it could mean real problems for the mortgage industry, and so on.

Now, there are lots of other reasons we’re in the subprime crisis. But turning mortgages into vehicles for investment profit that could be sold to investment banks in order to “realize” as-yet-non-existent profits did more to provide incentives to banks and fly-by-night mortgage firms to make risky loans than any requirement that banks serve communities that were poor credit risks. Although that certainly played a part.

There’s a limit to what regulation can do, but requiring consumer loans to be fixed-interest with 10% down, no exceptions, and no “interest free” or balloon mortgages would be one thing that would probably help in the future. The other thing would be to reinstate Glass-Steagall, and make it illegal to sell bundled mortages to investment banks (and book, and award bonuses, on the supposed future profits of these risky loans). Split the lending and investment banking and insurance industries again. Sandbox them, so the crisis in one are much less likely to spill out into all the others.

While they (the banks and insurance companies) lobbied hard to be able to merge all the financial services under one roof (investment banking, consumer banking, insurance), it doesn’t look like that was a very good idea. Additionally, the laws were changed without even a casual glance back at history. When regulations are in place, and the free market has had no need to “correct” for poor performance in the free market, once those regulations are removed, the free market will naturally start building towards a massive “correction”. Which is what happened. Again!

What casual glance back at history could they have made? How about the Saving’s and Loan Crisis? Tightly regulated, with low caps on the interest rates they could offer customers and unable to legally offer credit cards, take ownership positions in real estate, and so on (mostly depression era limitations imposed on them because of the inherent risks), they were low-profit affairs. Then, as high interest rates drove customers away from the S&Ls and into more profitable investments and accounts, the S&Ls suffered–but, at the time, in such a way that put their businesses at risk of failure, but not in a way that would ever have cost the tax payers billions of dollars.

To help the S&Ls remain solvent in face of sky-rocketing interest rates, the Jimmy Carter administration raised the caps that the S&Ls could offer their customers. Not so bad. Then, in 1982, the Garn-St. Germain Depository Institutions Act that apparently helped propel the S&Ls into insolvency while intending to make them more solvent. It was co-sponsored by a Democrat and a Republican, and enjoyed wide house and senate support at the time. Deregulation of this sort always seems to enjoy broad, bi-partisan support. Yet, when the crisis inevitably come, each party points their fingers at the other party and says: “This is your fault!”

What’s odd to me is how hard the financial indsutries lobbied for the repeal of the regulations that, in many ways, protected them, even while preventing them from making money in markets they felt they could serve. S&Ls lobbied for Garn-St. Germain, and the same investment banks and insurance companies that are imploding are some of the ones that lobbied from the repeal of Glass-Steagall. From 1933 (passage of Glass-Steagall) to 1999 (repeal), we never had the sort of the banking and financial problems that cropped up in the space of 8 years. It was almost like they couldn’t wait to commit corporate suicide, and just wanted those pesky regulations that had kept them from doing it out of their way.

Accountability and transparency are important. But firewalls between sectors of the capital markets may not be such a bad idea. While it may limit the profits of banks and insurance companies, it also insulates them against problems that will happen in those markets. And it would be best that if the housing market ever bubbles and collapses again, it doesn’t start taking down investment banks and insurance companies simultaneously. If an insurance company insures a number of banks that hold mortgages, while at the same time investing in bundled mortgages, what’s going to happen when the housing market swings into a down period and foreclosures start happening? That company is going to be hit from both sides. It would be much easier for that company to remain solvent if it insured banks against losses in the mortgage industry, while having the money it draws from to pay out someplace completely out of real estate.

But what’s going to come out of Washington, especially in an election year? Two things. First, lots of pointing fingers and indignant blame from the same people who cooperated in making all this happen in the first place. Second, new regulations (instead of re-instating old one’s that worked) that are designed to protect and prop-up the political class in Washington, rather than being designed to protect the consumer and the small individual with a few bucks in the bank.

Yay, Washington.

Bits & Pieces (Tuesday Night Classic Country)

I came across Texas Lightning around 2003. I wish they would produce more, or that I could find it, but it’s a little tricky. They’re a German country band with an Australian lead singer (whose voice is just gorgeous) who sings the great majority of their stuff in English.

I tried to embed this track, but they are apparently restricted from being embedded. So, just go listen on YouTube to Texas Lightning’s “No No Never”.They also did a great cover of Abba’s Dancing Queen, but just ignore the video, if you follow the link. It doesn’t have anything to do with Texas Lightning, it’s just the only video I could find that had a decent audio track. They did a beautiful cover of Blue Bayou, but I can’t find it anywhere. Dang it.

Stickin’ with the countrified music for a minute, I’d never seen the video for Whiskey Lullabye. I do like the song, but the extra movie stuff makes it kinda long, and tiresome. Still love me some Allison Krauss, however. And, yes, that’s Ricky Schroeder.
Why do I love Allison Krauss? That’s easy enough:

Wanted to include some Kris Kristofferson, but couldn’t find a good copy of “Duvalier’s Dream”. But I’ve loved that song since 1975, when I was six years old. That might explain something.

Okay, next: not country music.

Ever heard “Blindness” by Metric? Another song I love. Probably may favorite Metric song. Although “Raw Sugar” has a lot to recommend it, too.

In honor of National Coming Out Day, I present Air’s “Venus”.

In honor of Bread’s soft-rockin’ soundtrack to Goodbye Girl, here’s a completely unrelated song also named “Goodbye Girl” by Pluto.

In honor of awesome covers, I present Axel Wolph’s cover of Robert Plant’s “Johnny and Mary”:

If that’s too rockin’ soulful for you, you could also try Placebo’s cover of “Johnny and Mary”. A very New Wavey sound.

Finally, Leslie Anne Levine by the Decemberists. And the Decemberist’s metaphor (I suspect) for our military adventurism in Afghanistan and Iraq. That’s my eclectic collection for the night.

— KW

Big Government vs. Small Government

There’s been a number of excellent posts recently that have touched on this issue of Big Government vs. Small Government, such as Fairlington Blade’s excellent post about his children, Into the Mystery, and the comments on lmsinca’s Columbus Day Open Thread, to cite two examples. I can’t give all the other comments and posts regarding the big government/small government dichotomy the full attention they deserve, but I thought I’d touch on a few things.

To quote Fairlington: “This is one case where I came in general agreement with small government conservatives. Then I saw what effective government could do. It opened my eyes.”He wrote this about Child Find, one of the many programs happening under the IDEA. And IDEA does a lot of important stuff in regards to intervention, special education, education of children with disabilities, and course recovery for remedial students. A lot of the money small, local, rural and urban school systems has to spend on children with disabilities comes from Federal programs, such as IDEA and Title I. I think, by and large, we get a good value for those tax dollars, but I’ll get back to that in a moment.

Last week, I got into a bit of a tête-à-tête with a few folks over on Plumline about how, opposed to the Britain and presumably all other enlightened nations, America leaves it’s poor and disadvantaged students to rot. I argued that we did not, and cited Title I specifically, although I could have cited IDEA as well. This was insufficient, because we weren’t currently, at a national level, buying all our poor students iPads or Android tablets right now. I think that’s a kind of shifting goal post test we’re always doomed to fail. It would turn out, if the Poor Children Get a Free iPad act was law, and we were buying every disadvantaged student an iPad for home use right now, the French would be buying 32 gigabyte tablets instead of 16 gigabytes, like we were in America, so we’d still be leaving our children to rot. But I digress.

My point is that, by and large, government is always growing. It’s always doing more, if not year over year then certainly decade over decade. And it’s a rare instance where our government does fund or have it’s finger in every area of our lives. We may not do it to the level of the UK, or Greece, or Spain—but that’s not necessarily a bad thing, given what such over-extension may mean, long term, to their entitlement programs.

There are all sorts of programs and entitlements that are desirable, not all of them are infinitely fundable. Sometimes, what we already have cannot be responsibly funded, much less what we have plus what we additionally want to spend. Decisions have to be made about what gets money, and whether or not we tax more aggressively, or raise user fees, or take other actions to increase revenue that will probably be fine generally (if politically suicidal), but may also be counter-productive (I give you the 1990 luxury tax). While, ideally, we’d arrive at these decisions by rational compromise amongst sober policy wonks, that’s not actually required for checks and balances to work. The “hyper-partisanship” we see in our politics also works.

In the end, I tend to agree with Fairlington Blade. Effective government is a net positive, and, in fact, much more common than some may presume. It is imperfect, and will always be so, and the more problematic those imperfections are, the more a fine-grain sandpaper is not going to sand those imperfections away. That requires a Howitzer or an A-Bomb (hello, Tea Party!). But clearly, the momentum in government is to grow (in generally positive and beneficial ways). That gives us the ADA and the IDEA and Title I and OSHA and the EPA and the DHS and Medicare Part F,G,H,I,J,K,L,M,N,O,P.

For the most part, all that the small government types can hope to do (and all that they, in fact, end up doing) is restraining the otherwise unrestrained growth of government. They are barely able to constrain it to a level that promises to maybe be manageable (should a huge pot of money fall from the sky) in the future. They have managed, perhaps, to keep down to a level where our own austerity, if and when it happens, will not be as severe as it otherwise might have been. This is not a tremendous accomplishment for those small government types. It also means that more of the growth of government has been in generally positive and beneficial directions, and hard choices have been made. We may not have a government program to universally cover all or most of the costs associated with cancer, like we do with dialysis. But we have Title I and IDEA. And we may be in a better position to keep funding Child Find because we don’t currently buy every Title I student in the country an iPad.

I’m a fan of calmness. I like sober compromise. But if it takes a lot of shouting and yelling and nuclear options to get to the point where we fund a Title I over No Child Without an iPad, then that’s what it takes. We’ve picked the better of those two noble programs, and perhaps the one best left to the government, over the one best left to private charity and non-profits. That looks like hyper-partisanship. It sounds like hyper-partisanship. It means that IDEA does not have to be scuttled in 5 years due to unavoidable austerity. At least, that’s how it appears to me.

I don’t have time to track it backwards, but the same argument can be made for the tax the rich crowd. That is, they don’t tend to win the revenue argument all that much, so though they may sounds like class warriors, or hyper-partisans, they’re mostly just gate keepers ensuring that our government continues to collect at least some of the money it spends every year. Like the Tea Partiers, the Tax The Richers are engaged in a pitched battle to avoid crippling austerity measures. They really share many common goals, though it might not seem that way, when they’re busy fighting.

I mentioned I’d get back to the net value we get from IDEA, Title I, etc., and I will. First, these are programs that benefit our children—and they really do. In our school system, the Title I schools are well-equipped. The richer schools are more poorly equipped, because the funding isn’t there to buy them new equipment (and we can’t go get in debt to China to make-up the shortfalls in our yearly budget). I think they are consistent with the values of our nation overall (whatever that means) in that we value our children, we value our education, and we believe everybody can make a difference and contribute. But these programs just don’t fund specific classes or buy equipment. They provide an infrastructure to integrate national resources, to diffuse best practices is child identification, special education, remediation and course recovery to disparate school systems all across the country, and create efficiencies (yes, that’s right, efficiencies) that benefit every school system that participates, where there would be tremendous duplication of effort and resources (and random application of best practices) if every system or, worse, every school, tried to manage and administer and fund these programs in isolation.

There is also a great value in that these programs really help kids. And help parents. They help parents take care of and educate their children better than most parents could ever manage in a vacuum, often freeing up the parents to be productive and contributive (thus, recapturing some tax revenue) where they otherwise might not. And they help the kids become more productive and contributive members of society. No, it doesn’t keep all the bad kids out of prison or make every kid with special needs into a future MBA—but it does do those things. These programs do it to a degree where I think it’s a net benefit, financially and practically, to society at large, and at worse it would be a wash—a wash that includes a few less kids in prison, a few less kids in gangs, a few less people murdered, and a few more kids going on to college instead of dropping out in high school. And a few more parents able to hold down jobs, and a few more parents able to raise self-supporting and self-sustaining kids.

Still, I think it’s a mistake to consider effective government programs as purely the result of sober compromise or unanimity in purpose. If a program is worth it, it will probably come back and try again. And try again. And try again. And maybe it’ll get a little better each time, or a little more efficient, or find a way to lower the price tag. It may feel, depending on which side your own, that these people are crazy, and that this is horrible, and these people want children to die and poor people to starve or to chase all the rich people out of the country with confiscatory taxes . . . in my opinion, they are, in fact, checking and balancing. And checking again.

Gridlock and hyper-partisanship? That’s the combustion of fuel and air in the engine of democracy. When you have an agenda, that’s a pain in the ass. But when eventually get the next IDEA or Title I, it will almost certainly be more sustainable. It will be the better choice of the 5 other perfectly good choices that money could have gone to. Will it be perfect? No. But, as Winston Churchill said himself, “democracy is the worst form of government except all those other forms that have been tried”.

I was a big fan of Bush’s broad outline for Social Security Reform (not really privatization), as is probably well-known by most of you. But it didn’t approach ever becoming a reality, as many Republicans and pretty much all Democrats pulled out all the stops to kill it before it had a chance to see a single sunrise. Was this hyper-partisanship? Well, if what the GOP is doing now is hyper-partisanship, I guess so. I think it was just the checks and balances of our system, imperfect though it may be, working exactly as it is supposed to. Not happy about it, but there it is.

One more note about Big Government vs. Small Government. Again, like Fairlington, I like efficient government. I like most government programs that don’t over-regulate and don’t provide perverse incentives for folks to become less or non-productive. I could imagine many more government programs that I would love to see—in an ideal world with infinite revenue. National broadband wireless, for one. I love the Internet. I love GPS. I love the Interstate system. I could go on and on. If we could pay for it, I’d like to see a lot more.

But I think we sometimes focus too much on the process. Small Government isn’t desirable in and of itself, for it’s own sake. Why would it be? Similarly, Big Government is not desirable in and of itself. Just cutting government programs to randomly cut programs serves very little purpose, just as creating government programs randomly would serve no purpose. I support the biggest government we can afford, and I support the smallest government we can get away with. Because it’s not about the process: it’s about what specifically works to accomplish specific goals. And lots of things work better at a national level, with a shared pool of funding, a certain level of centralization. Other things do not.

We shouldn’t be fighting, I don’t think, for smaller government. Or bigger government. In my opinion. But I think it’s better that we fight those proxy battles, via the Tea Party and maybe OWS, than not fight them at all.

Or, in conclusion, everybody’s awesome and I love you all. Smooch!

Bits & Pieces (Sunday Night Open Mic)

Believe it or not, most of the time I’m not jealous of New Yorkers. I don’t much give a sh*t that they think they live in the center of the universe, and the rest of us are satellites which merely revolve, enviously, around the center of the universe that is NYC.

However, there’s a place of Brooklyn that serves fried chicken and waffles in a magical way.

That’s right. That’s a red velvet cake waffle. OMG. 

The best and the rest from The Daily:

Solyndra has it’s first fall guy. There ya go, problem solved.

Top Obama advisers worried about Solyndra.

A great little graphic of The Ten Year Afghanistan War.

A poll of vets regarding military service and the Afghanistan War.

Pakistan is considering charge the doctor who may have helped us nab Bin Ladin with treason.

The world’s oldest drivable car was built in 1884 and is steam driven. It still works, and it’s going up for auction.

Why (or should I say how) national Democrats always have and always will disappoint me.

Steve Jobs, the $1 a year billionaire.

Peter Ha recalls Steve Jobs.

The many, many tributes to Steve Jobs after his passing.

OWS is, in fact, the Herbal Tea Party.

Also . . .

Lee Stranahan makes the observation that I was suspecting, re: OWS. Protesting is mega-fun!

— KW


Bits & Pieces (It’s Saturday Night and I’m Feelin’ All Right)

Yes, I’m doing this on Friday. I pre-plan. So what?

First, a History of Apple Design.

You remember the Apple II’s team answer to the Macintosh? Or was the Macintosh Job’s answer to The Lisa? Anyway, I’m referring to The Lisa. It was very Macintosh-y, compatible with much Apple II software, and offered two drives. 
Man, I would have loved to have had one of those 20th Anniversary Macs, back in the day. Gotta love that startup chime.
Next, stuff Apple prototyped but never produced. The slideshow starts around 45 seconds in. Wish they had made some of that stuff.

Someone may need to publish this for me, I’m going to be busy all Saturday. Just FYI. — KW


Bits & Pieces (TGIF and RIP Steve Jobs Edition)

Universal will make the film Tower Heist available on demand in two cities, three weeks after it debuts in theaters . . . for $59.99. Universal, for some reason, thinks this is a test of the viability of whether or not being available On Demand (for $60, three weeks after it opens in theaters!) hurts performance in those cities.

A test would be doing this the same day it debuts in theaters, or 3 weeks later but in more than two cities . . . or charging $25 instead of $60. I dunno. I guess it’s good the entertainment industry dips it’s toe in the waters of modernity, but they still don’t look like they know how to swim.

Steve Jobs as Pop Artist. Steve Jobs and the art of simplicity. Steve Jobs was a billionaire. What’s going to happen to that money? You’ll never know. Jobs as visionary. Steve Jobs says we don’t ship junk. Steve Jobs answers an insulting and condescending question at the 1997 WDC with grace and aplomb. Loved that guy. So much.

Steve Jobs talks about Xerox PARC, stealing ideas, critiques Microsoft, and more. I believe this is from when he was trying to get PR attention for NeXT.

Below, a bio of and interview with Steve Jobs. This was maybe a year before Steve Jobs returned to Apple. Listen to his prescription for Apple, which was tanking at the time, to return to its former glory. When he came back, he did exactly what he said should be done—and he was right.

Finally, Steve Jobs 2005 Commencement Address at Stanford.

Occupy Wall Street!

Good luck with that.

A number of folks have linked to Paul Krugman’s article praising the Occupy Wall Street protests. He titled it “Confronting the Malefactors”, though, assuming by “malefactors” he means Wall Street bankers, I have to ask: this is confronting them? Really?

Quoth the Krugman:

In the first act, bankers took advantage of deregulation to run wild (and pay themselves princely sums), inflating huge bubbles through reckless lending. In the second act, the bubbles burst — but bankers were bailed out by taxpayers, with remarkably few strings attached, even as ordinary workers continued to suffer the consequences of the bankers’ sins. And, in the third act, bankers showed their gratitude by turning on the people who had saved them, throwing their support — and the wealth they still possessed thanks to the bailouts — behind politicians who promised to keep their taxes low and dismantle the mild regulations erected in the aftermath of the crisis.

I highlighted the bit about reckless lending. Really, that’s what created the crisis? In the mortgage industry, didn’t Fannie Mae and Freddie Mac encourage reckless lending? And how does reckless lending auto-magically translate into AAA ratings for bundles of sure-to-default mortgages, or bundling them and reselling them in what (if I’m not mistaken) was a fairly opaque marketplace? And isn’t reckless borrowing an automatic corollary to reckless lending?

And as for the 3rd act—it was entirely predictable. Of course that’s how it worked out, as many people, both left and right, predicted. Numerous conservative pundits—Rush Limbaugh, to name one—characterized the bank bailout as being necessary to preserve the wealth of the friends and associates of Ben Bernanke and Timothy Geithner. It was such an emergency because if their friends had to lose their second (or 3rd) home in the Hamptons, Bernanke and Geithner’s names would have been mud (that was the Limbaugh theory, anyway).

Given this history, how can you not applaud the protesters for finally taking a stand?

I mean, yeah, sure. But in my experience, they’ll be applauding themselves with enough enthusiasm and vigor for all of us. And of all the things in their lives they could possibly have an actual positive influence on (albeit, a positive influence that does not stroke their egos nearly as effectively), they pick the “influence” equivalent of buying a dozen lottery tickets in order to make their first million. If they tried to start a movement to get folks to pick up litter around their own neighborhoods, they’d probably have a more positive influence. But I suspect Occupy Wall Street (and the attention it’s getting—visiting their grandparents at the nursing home would never get them TV coverage) makes them feel special, and like they are part of a movement, and while I was quite judgmental of that in my college years, I do understand it, and can’t blame them. If can evoke a lot of positive feelings about yourself and your friends, make you feel like you can make a difference (while, ironically, doing nothing that’s actually going to make a difference), releases endorphins, and I’m sure more than a few of those people have gotten laid where the otherwise would have spent their nights alone, commenting on blogs, like . . . well, never mind that. ; )

The people who ought to have taken a stand—our politicians, both left and right—either did not, or did very mildly, with input from their banker friends, lobbyists, and, of course, Wal-Mart (not a slam; you know I love me some Wal-Mart). The resulting legislation was mostly crafted by the winning oligarchs, not by thoughtful bureaucrats attempting to over-regulate the banking sector in order to prevent future financial devastation coming from the same stupid incentive system.

Bear in mind, too, that experience has made it painfully clear that men in suits not only don’t have any monopoly on wisdom, they have very little wisdom to offer.

Says the guy who I almost always see in a suit. Just an observation.

remember how many serious people assured us that there was no housing bubble

And who was yelling from the roof tops that not only was their a real estate bubble, but that a collapse was coming? Glenn Beck. Just noting, for the record.

And . . . here comes the co-option by serious-minded academics and policy people:

A better critique of the protests is the absence of specific policy demands. It would probably be helpful if protesters could agree on at least a few main policy changes they would like to see enacted. But we shouldn’t make too much of the lack of specifics. It’s clear what kinds of things the Occupy Wall Street demonstrators want, and it’s really the job of policy intellectuals and politicians to fill in the details. 

You see what he’s doing there, right? Oh, these fine young people, they are so admirable. I love them so much. Now, that they’ve got your attention, let me tell you what we should do. It will be remarkably similar to what I personally advocate all the time, but it’s all about the young people. Occupy Wall Street!

Finally:

And if the protests goad some politicians into doing what they should have been doing all along, Occupy Wall Street will have been a smashing success.

That would be lovely, but I’m not going to hold my breath.

Bits & Pieces (How Thursday Evening Should Have Ended)

All right, I’m doing this one before the Wednesday one goes live. Yes, I’m getting ahead of myself. But there’s a reason for it:

How Toy Story III should have ended. Seriously, it should have.

One of my favorite movies as a kid was Superman: The Movie. And this is how it should have ended:

My favorite trilogy of movies may be Back to the Future (more on that in a moment), but The Lord of the Rings is practically a tie. I love those movies. And this is how the single 45 minute LoTR movie should have ended:

Remember what I said about Back to the Future? I also adore the first two Terminator movies (T3 and T:S both sucked). So, why don’t you make like a tree, and get out of here?
— KW

Michigoose