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by Eli

Creative Revenue Solutions

6:35 pm in Uncategorized by Eli

Goldman Sachs Secretary of the Treasury Jamie Dimon

Dan Wright offered up an interesting idea at the end of his post on the latest corrupt dickhead’s confirmation to a pivotal Cabinet post:

Given the total failure of either political party to stand up for the people and the rule of law by opposing such a clearly conflicted nominee, might it be time to simply resign ourselves to this endemic corruption? Perhaps there is a way for the taxpayers to get something out of the deal. How about simply auctioning off the job?

Citigroup, Goldman Sachs, JP Morgan etc. can all bid on the job – they are going to get what they want anyway lets up the price. Then at least the money from the sale can directly go into the Treasury rather than going through that pesky campaign finance and lobbying system. Citigroup has already paid for its access to Lew why should Goldman be left out?

This sounds like a fine outside-the-box strategy for scrounging up some extra cash to help reduce the deficit shore up social programs fix our crumbling infrastructure subsidize more tax cuts for the rich, but it completely overlooks the financial possibilities of naming rights.

I mean, sure, it’s pretty thrilling to think about “Secretary of the Interior Don Blankenship” or “Secretary of the Treasury Jamie Dimon,” but wouldn’t “ExxonMobil Secretary of the Interior Don Blankenship” or “Goldman Sachs Secretary of the Treasury Jamie Dimon” sound even better?  Admittedly, there could be some possibilities for brand confusion, but I’m sure those could all be ironed out.  Plus I bet a lot of companies would be willing to pay a little extra for a package deal to avoid any such unpleasantness.

by Eli

The Most Patient Man In The World

6:59 pm in Uncategorized by Eli

Senate Majority Leader Harry Reid

Senate Majority Leader Harry ReidHarry Reid still hasn’t seen enough obstruction from Senate Republicans to support filibuster reform, saying, “The only way we’ll get rid of the filibuster is if it continues to be abused.” He has either been sound asleep for the past four years, is the most trusting man alive, or he is simply and completely full of the brown stuff.

I believe that what’s going on here is that filibuster reform would actually make life more difficult for Reid and the rest of the Democratic caucus. Their job isn’t to enact progressive economic laws that their corporate donors oppose, it’s to quietly prevent them while avoiding blame. The continued existence of the filibuster makes this easy: They can all declare their undying support for financial reform, or the public option, or tax increases for the rich, and then let the Republicans do all the dirty work of blocking it.

But if there’s no filibuster and all the Democrats need is a simple majority which is easily attainable, Reid must engage in reverse whipping: Finding enough conservative Democrats from the Villain Rotation to vote against Progressive Bill X in pretend defiance of the party leadership. Instead of just exposing one or two at a time to the wrath of their state’s Democratic voters, Reid could find himself forced to burn half his villain pool on every vote.

Worst case for Reid: Conservadems get primaried and replaced by progressives who refuse to join the Villain Rotation. Best case for Reid: Conservadems get primaried and replaced by actual Republicans, making his job even easier than it is now.

(Cross-posted at Multi Medium)

by Eli

When Goldman Sachs Does It, It’s Not Illegal

4:28 am in Uncategorized by Eli

Fun legal fact I learned yesterday: Apparently it’s perfectly okay to outright lie to your customers, as long as there’s some possibility that they’re so “sophisticated” that they know you’re lying.

It’s apparently also okay as long as you have a whole bunch of innocent, hardworking hostages employees that would lose their jobs if your company got prosecuted out of existence. Of course, if you sent the individuals responsible to prison, that wouldn’t put everyone else out on the street. I can only assume that Breuer was worried that aggressive prosecution would drive those delicate souls to suicide like it did to Aaron Swartz.

I’d like to think Breuer is out at DOJ because of gross incompetence, but it’s probably more like he’s completed his mission of escorting the fraudsters safely across the statute of limitations threshold and is now ready to collect his reward.

Cross-posted at Multi Medium Read the rest of this entry →

by Eli

The FCC’s ‘Totally Convincing’ Explanation For Leaving Wireless Out Of Sham Net Neutrality “Compromise”

4:53 pm in Uncategorized by Eli

In case there were any remaining doubt that Julius Genachowski is a completely corrupt dishonest bastard, or that the other two Democratic FCC commissioners are spineless jellyfish, check out their laughable explanation for why they gave wireless service providers free rein to block whatever they like:

Further, we recognize that there have been meaningful recent moves toward openness, including the introduction of open operating systems like Android. In addition, we anticipate soon seeing the effects on the market of the openness conditions we imposed on mobile providers that operate on upper 700 MHz C-Block spectrum, which includes Verizon Wireless, one of the largest mobile wireless carriers in the U.S.

In light of these considerations, we conclude it is appropriate to take measured steps at this time to protect the openness of the Internet when accessed through mobile broadband.

You see, it’s okay for the telecoms to block or throttle wireless access, because the openness of the Android operating system will magically cancel out any closedness of the spectrum. Awesome!

I suppose we should be grateful that Genachowski didn’t use the presence of open-source Linux in the wired desktop space to justify a clean sweep.

(Crossposted at Multi Medium)