Matt Taibbi tells us the lesson we should learn from the Facebook IPO

Matt Taibbi, post Facebook IPO:

Wall Street is increasingly turning into a giant favor-and-front-running factory, where the big banks and broker-dealers that channel vast streams of crucial non-public information (about the markets generally and their clients specifically) are also trading for their own accounts, and sharing information with a select group of "preferred investors," who in turn help the TBTF banks move markets in this or that desired direction by jumping on or off various pigpiles at the right times. Sooner or later, people are going to clue into the fact that one or two big banks, acting in concert with a choice assortment of unscrupulous "preferred investors," can at least temporarily prop up or topple just about anything they want, from Greece to Bear Stearns to Lehman Brothers. And if you can move markets and bet on them at the same time, it's impossible to not make tons of money, which incidentally is made at everyone else's expense. So we should always be on the lookout for any evidence that that sort of coordinated, non-disclosed activity is taking place.

Continue ReadingMatt Taibbi tells us the lesson we should learn from the Facebook IPO

George Lucas moves to Plan B

I'd bet that a lot of those obstructionists in Marin County are wishing they could rewind the clock.

But after spending years and millions of dollars, Mr. Lucas abruptly canceled plans recently for the third, and most likely last, major [studio] expansion, citing community opposition. An emotional statement posted online said Lucasfilm would build instead in a place “that sees us as a creative asset, not as an evil empire.” If the announcement took Marin by surprise, it was nothing compared with what came next. Mr. Lucas said he would sell the land to a developer to bring “low income housing” here.
I'd bet about 10% of people go utterly ballistic about their property. I've seen it in my own neighborhood, where a contingent of people stepped forward about 15 years ago to prevent a low-key art fair on my street. You couldn't believe all of the hyperbole and all the venom. The opponents were worried that people would be walking on the sidewalks in front of their houses during the fair, if you can believe that one. Well, the fair went on, and it continues to this day on an annual basis. I've thought a lot about the "sacred" since reading Jonathan Haidt's thoughts on it (I'll post on it soon). The basic idea is that once some declares something (e.g., their home) to be sacred, there is no negotiation allowed, and anyone who tries to cross them is evil. The bottom line is that otherwise reasonable people become crazy. George Lucas apparently had enough of it and decided to let some ordinary folks move into Marin. Talk about inhumane punishment: forcing rich folks to live nearby modest-income Americans . . .

Continue ReadingGeorge Lucas moves to Plan B

Does the bible really prohibit gay marriage?

Does the bible prohibit gay marriage, or are conservative Christians again up to their favorite trick, cherry-picking? The following excerpt from The Miami Herald suggests that cherries are being picked in earnest.

[Matthew] Vines is a Christian, a 22-year-old Harvard undergrad raised in a conservative evangelical church in Kansas. He is also gay and says he grew up being taught that the Bible condemns his sexual orientation. He took two years off from school to research and study whether or not that assertion is true. The result is The Gay Debate: The Bible and Homosexuality. It’s a video. . . Vines’ speech is a masterwork of scriptural exegesis and a marvel of patient logic, slicing and dicing with surgical precision the claim that homophobia is God ordained. So effective is the video that after viewing it, Sandra Delemares a Christian blogger from the United Kingdom who had, for years, spoken in staunch opposition to same sex marriage, wrote that it “revolutionised” her thinking. Vines points out, for instance, that the frequently quoted condemnation (homosexuality is an “abomination”) from the Old Testament lawbook of Leviticus has no application to Christians, who are bound by the teachings of the New Testament. He explains that St. Paul’s admonitions about the “effeminate” and “abusers of themselves with mankind” stem from modern mis-translations of ancient Greek terminology.
With that as an introduction, here is the video featuring Matthew Vines: This is an impressive presentation. At the 16 minute mark, Matthew begins to examine the six bible passages that supposedly condemn homosexuality. None of them survive his scrutiny.

Continue ReadingDoes the bible really prohibit gay marriage?

Zach Wahls honors his two moms.

Today, an attorney with whom I work told me I absolutely needed to drop what I was doing in order to listen to a 19-year old man giving a statement to the Iowa legislature. Under consideration was a constitutional amendment that would reverse the landmark case of Varnum v Brien. I looked up Zach Wahls on Youtube and watched his incredible speech. My friend then told me that Zach also happened to be in town, at Left Bank Books, 5 blocks away from my law office. I walked over, arriving in time to hear Zach ending his prepared remarks, and opening the floor to questions. One of the main points he made is that people react badly to households of two gay parents because they have a "fear of the unknown."

Continue ReadingZach Wahls honors his two moms.

“Saying Gay” is not about SEX

I’ve been thinking about the Missouri “Don’t Say Gay” legislation (HB2051) since it hit public awareness. I’ve lived in Missouri most of my life, I am used to seeing legislative discussions that make my head hurt, but this one hit me harder than most.

I realize that this bill, like much legislation around the country, is a fearful reaction to the many advances that gay folk are making. It is more accepted to be gay now than 20 years ago. Gay people are often portrayed on TV shows, in books and movies and the storyline is no longer about being gay. The dramatic value of homosexuality has dipped in popularity. Being gay is less taboo, and for some people that is the last straw. This legislation feels like a last ditch effort from the folks petrified and disgusted by homosexuals to protect themselves through the guise of protecting the children. But from what?

Continue Reading“Saying Gay” is not about SEX