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‘We have not learned that lesson’

Shocker, right? Ron Suskind’s book spells out all the infighting that made sure the Dodd-Frank bill was regulation in name only:

Regulation and other oversight measures have not been strengthened enough to avoid another financial company failure the size of Lehman Brothers Holdings, the largest bankruptcy in U.S. history, Anton R. Valukas, examiner of the Lehman downfall, told the conference of the Council of Institutional Investors in Boston.

“I don’t see that things have changed greatly, and we cannot have another Lehman Brothers,” Mr. Valukas said Tuesday.

“The lesson we learned form Lehman is we have not yet learned that lesson,” said Mr. Valukas, chairman of the law firm Jenner & Block firm and, as examiner appointed by the U.S. trustee to the Lehman Chapter 11 bankruptcy case, author of a 2010 report on the company’s demise.

The Dodd-Frank Wall Street Reform and Consumer Protection Act and other regulatory changes have not been enough to prevent such a massive failure, he said.


Red Sox and the Braves. Fans, I feel your deep, primal pain, having been there far too many times myself.

Let him fly

Dixie Chicks:

It could still happen

1964 Phillies.

Financial terrorism

Max Keiser:

More Tony Baloney

He sure does love to whip out that pepper spray. What a he-man!


What Glenzilla says:

Given the costs and risks one incurs from participating in protests like this — to say nothing of the widespread mockery one receives — it’s natural that most of the participants will be young and not yet desperate to cling to institutional stability. It’s also natural that this cohort won’t be well-versed (or even interested) in the high arts of media messaging and leadership structures. Democratic Party precinct captains, MBA students in management theory and corporate communications, and campaign media strategists aren’t the ones who will fuel protests like this; it takes a mindset of passionate dissent and a willingness to remove oneself from the safe confines of institutional respectability.

So, yes, the people willing to engage in protests like these at the start may lack (or reject the need for) media strategies, organizational hierarchies, and messaging theories. But they’re among the very few people trying to channel widespread anger into activism rather than resignation, and thus deserve support and encouragement — and help — from anyone claiming to be sympathetic to their underlying message. As Perrin put it:

This part of Michigan [where I live] was once militant. From organized labor to student agitation. Now there’s nothing. Shop after shop goes under. Strip malls abandoned. Legalized loan shark parlors spread. Dollar stores hang on. Parking lots riots of weeds. Roads in serious disrepair. Those with jobs feel lucky to be employed. Everyone else is on their own. A general resignation prevails. Life limps by.

Personally, I think there’s substantial value even in those protests that lack “exit goals” and “messaging strategies” and the rest of the platitudes from Power Point presentations by mid-level functionaries at corporate conferences. Some injustices simply need anger and dissent expressed for its own sake, to make clear that there are citizens who are aware of it and do not accept it.

It’s hard to raise girls

When there’s so much asinine marketing going on all around them

Here, here

Stop enabling Republican temper tantrums!

You’ll notice they have no problem with candidates who get no-show jobs at law firms while they’re running, though.

No Child Left Behind

History! Good for the president.

Too bad he had to fuck it up with all this other equally awful crap.

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