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![]() What has become of the American nation?
» Posted by Martin Weil on January 07, 2010 we have descended in the clutches of corporate and other special interests to a second world state defined by K Street instead of Independence Square. Our government doesn't work anymore, or perhaps more accurately, when it does, it works for special interests and not the American people. No not Arianna Huffington, but Bill Gross, Chief Investment Officer of PIMCO (Newport Beach, CA.), the US' largest fixed income manager. Gross continues in his January "Investment" Outlook": What amazes me most of all is that politicians can be bought so cheaply. Public records show that combined labor, insurance, big pharma and related corporate interests spent just under $500 million last year on healthcare lobbying for what is likely to be a $50-100 billion annual return. The fact is that American citizens have never been as divorced from their representatives - and if that description fits the Democratic Congress now in control - then it applies to Republicans as well - past and present. So you watch Fox, or is it MSNBC? O'Reilly or Olbermann? It doesn't matter. You're just being conned into rooting for a team that basically runs the same plays called by lookalike coaches on different sidelines. A "ballot box" pox on all their houses - Senators, Representatives and Presidents alike. There has been no change, there will be no change, until we the American people decide to publicly finance all national and local elections and ban the writing of even a $1 check for our favorite candidates. Add Gross to the angry chorus of voices from financial professionals of all description regarding the stranglehold on DC politics by the largest industry players. Should be interesting to see where this leads.
Happy holidays from Healdsburg
» Posted by Martin Weil on December 22, 2009
The Healdsburg Plaza, Winter, c. 1905
Quote for the season
» Posted by Martin Weil on December 17, 2009 I've known many people in the financial business who said I'm really proud because I did it all myself. ... the first thing I say is, 'Isn't that wonderful. You did it all yourself. I think that's terrific. I don't know many people that have done that. But tell me, how did you arrange to be born in the United States of America.' John Bogle, founder of Vanguard, quoted in a WSJ's Wealth Report posting on the issue of the inheritance tax
Harrods, UK. Now selling gold bullion
» Posted by Martin Weil on October 18, 2009 Harrods Gold Bullion
Windows v. Mac
» Posted by Martin Weil on October 09, 2009 Charlie Brooker vents in the Guardian (UK). Very funny. As a joined-at-the-hip-from-birth-to-Microsoft kinda guy, I will confess to similar occasional feelings of unrestrained hatred of everything Apple. The Stockholm Syndrome it appears.
And now a word from our sponsor
» Posted by Martin Weil on October 01, 2009
California ballot measures
» Posted by Martin Weil on May 19, 2009 Wherein UCLA social policy prof Mark Kleiman makes some sense: Once the measures fail, the only hope is that Barack Obama will come in and play the role of the IMF: "Here's a bunch of Federal dollars you can have if and only if you change the two-thirds rule and eliminate the Prop. 13 rip-off for business." It might even work.
Hedge fund humor
» Posted by Martin Weil on December 23, 2008
Actually, this would be more accurate if the start year was 2002, or even 1997.
In Memoriam
» Posted by Martin Weil on December 01, 2008
Among her legacies, Tanta leaves a series of 13 essays, "The Compleat Ubernerd," (scroll down for links) explaining in meticulous detail every part - from origination to default, with multiple stops at securitization, ratings and more - of the entire mortgage implosion. Rest in peace, Tanta.
It is now seven years
» Posted by Martin Weil on September 10, 2008
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