Hail to thee, blithe spirit...

Well, that's silly. But, I'm in the mood for silly. I just finished screwing around with the Tax Gang Part II, and I see one of the disadvantages of keeping accounting firms out of the software business. Their own shit can really suck. In this case, my preparer of choice electronically, HR Block, has the world's worst website --why have a FAQs link that doesn't work? why have what should be links based on characters that aren't? how does losing someone in the queue inspire confidence? Anyway, I called their helpline -- mistake!! Can't do what they tell me to do. However, I finally talked to an actual tax preparer who is trying to get this unfucked so she can do my taxes.

Next, I'm having problems with the whole Geitner plan. Given a choice between a political appointee and Paul Krugman, I'll take Krugman. If he says it's a bad idea, well, his track record over the last 30 years is pretty good. He thinks it's shortsighted and basically stupid --stable, well-capitalized banks will be OK and even do well; one's that are in trouble are in trouble and will be in worse trouble...we will be infested with Texas Savings and Loans which damn near killed the Great State in the 80s. And, as stuff surfaces, more people who are not supply-side, Milton-Rand-Greenspan devotees are agreeing with Krugman...in other words, economists who actually have ideas and can understand an incredibly bad idea when they see it slouching toward Bethlehem...

Yves here, If this isn't Newspeak, I don't know what is. Since when is someone who puts 3% of total funds and gets 20% of the equity a "partner"?  And notice the hint of skepticism from the Times regarding the Administration's supposition that the bidding will result in fair prices. Huh? First, the banks, as in normal auctions, will presumably set a reserve price equal to the value of the assets on their books. If the price does not meet the reserve (and the level of the reserve is not disclosed to the bidders), there is no sale; in this case, the bank would keep the toxic instruments. Having the banks realize a price at least equal to the value they hold it at on their books is a boundary condition. If the banks sell the assets as a lower level, it will result in a loss, which is a direct hit to equity. The whole point of this exercise is to get rid of the bad paper without further impairing the banks. So presumably, the point of a competitive process (assuming enough parties show up to produce that result at any particular auction) is to elicit a high enough price that it might reach the bank's reserve, which would be the value on the bank's books now. And notice the utter dishonesty: a competitive bidding process will protect taxpayers. Huh? A competitive bidding process will elicit a higher price which is BAD for taxpayers!  Dear God, the Administration really thinks the public is full of idiots. But there are so many components to the program, and a lot of moving parts in each, they no doubt expect everyone's eyes to glaze over.

Now, after 8 years of Bush and almost 30 years of "Morning in America," everybody should be convinced that the public is full of idiots. Selfish, moronical idiots. If Rush Limbaugh and Barrack Obama were to compete in fucking death match referred by Vince McMahon and Barry Bonds, people would get it. Think about and ask questions about it to people who know something about it...nahh. That's hard.

Now, this this actually might combine thought with broad physical comedy and some blasphemy...

 

And then, from Steven Van Zandt, we get the Cocktail Slippers from Oslo who are a helluva lot better than a lot of other folks... why did Lordi win Eurovision and not these gals...be the last lover standing come St Valentines day! Little Steven calls them a role model for the new generation because they "actually have talent and understand that rock and roll is a craft"... I think they sound like a cross between a 60's girl group, the Bangles, possibly with a little Wanda Jackson thrown in...Wicked Cool Records is a pretty neat label. This reminds me of the stuff that really did come out of garages in the 60s and 70s, and the various little clubs around the world. The Chesterfield Kings remind me of something out of Manchester, or maybe Muncie Indiana...reasonably smart working class kids who knew that even if they could swing the money for junior college, they were probably headed to Vietnam or construction...

Comments

[UK Software companies]

Hey, that was interesting,

Great videos!

Keep up the good work