What 2010 Meant

The Lame Duck Congress has ended the year with a Marathon of Epic Legislation.  I can't help being impressed.  Obama said he wanted Congress to do with Don't Ask Don't Tell, to repeal it legislatively, and not have it end up as a court-mandated order.  I can understand this, especially given the rightward shift of the judiciary.  But the way in which he went about it seemed doomed and certainly angered a lot of people who thought he was breaking a campaign promise.  (The puzzling lunacy of his own justice department challenging a court-led effort must have looked like one more instance of Obama backing off from what he'd said he was going to do.)  I am a bit astonished that he got his way. A great deal of the apparent confusion over Obama's actions could stem from his seeming insistence that Congress do the heavy lifting for much of his agenda.  And while there's a lot to be said for going this route, what's troubling is his failure to effectively use the bully pulpit in his own causes.  And the fact that he has fallen short on much.   It would be, perhaps, reassuring to think that his strategy is something well-considered, that things the public knows little about will come to fruition by, say, his second term. (Will he have a second term?  Unless Republicans can front someone with more brains and less novelty than a Sarah Palin and more weight than a Mitt Romney, probably.  I have seen no one among the GOP ranks who looks even remotely electable.  The thing that might snuff Obama's chances would be a challenge from the Democrats themselves, but that would require a show of conviction the party has been unwilling overall to muster.) The Crash of 2008 caused a panic of identity.  Unemployment had been creeping upward prior to that due to a number of factors, not least of which is the chronic outsourcing that has become, hand-in-glove, as derided a practice as CEO compensation packages and "golden parachutes," and just as protected in practice by a persistent nostalgia that refuses to consider practical solutions that might result in actual interventions in the way we do business.  No one wants the jobs to go overseas but no one wants to impose protectionist policies on companies that outsource.  Just as no one likes the fact that top management is absurdly paid for jobs apparently done better 40 years ago by people drawing a tenth the amount, but no one wants to impose corrective policies that might curtail what amounts to corporate pillage.  It is the nostalgia for an America everyone believes once existed that functioned by the good will of its custodians and did not require laws to force people to do the morally right thing.  After a couple decades of hearing the refrain "You can't legislate morality" it has finally sunk in but for the wrong segment of social practice. [More . . . ]

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Chink in the armor of auditors and bond rating agencies?

Matt Taibbi gives us a bit of hope that some justice will be done:

[T]he lead auditor reviewing one of the world’s largest investment banks [Lehman] had no idea what a series of regularly-occurring billion-dollar transactions committed by her main client were, and apparently wasn’t interested. It also didn’t seem to bother E&Y that Lehman was not disclosing any of this to its investors in its SEC filings. My guess is that this suit is the beginning of the end for Ernst and Young and, who knows, may be the beginning of a series of investigations that ultimately take down the auditors and ratings agencies that made the financial crisis possible. Without accountants and raters signing off on all the bogus derivative math and bad bookkeeping, a lot of this mess would never have happened.

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Will Netflix Destroy the Internet?

I lifted this question from John Carroll at ZDNet: Net Neutrality: Will Netflix destroy the Internet? But the basic discussion is, how can internet carriers afford to pipe unlimited video at the same price that they charge to support slow and relatively sparse packet data like email and pictures? Back…

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Is Penny Wisdom Plain Foolish?

I spent an hour this evening fixing an appliance that I bought at a yard sale many years ago for a coin. Not only that, but I solely and regularly use this appliance for my daily work. You may wonder, how do I use a potpourri crock pot for work? As the heater part of a small double boiler for an etchant that can eat through glass or titanium, of course. And what can go wrong with a crock pot? Well, this one has been dropped a couple of times. But the crack was dealt with well enough some years ago by a liberal application of Acrylic monomer (Super Glue). So what was wrong now? The crack had weakened the heating element (the hair-thin Ni-chrome filament) and it finally burned through. So I took the thing apart and spliced in a bit of brass wire that I had lying around. That delicate job turned out to be the easy part, given strong magnifying goggles, tiny tools, and decades of fix-it experience. But these diabolical inexpensive units are designed to not-be reassembled. They had actually added an extra part to the design to make reassembly impossible. It took me over a half hour to outwit the designers and get the base re-attached in a manner that would let me take it apart again in the future. For a dozen tax-deductible dollars I can have a new one delivered to my house via eBay. Why do I regularly chose to repair disposable appliances? My parents both went through economic times much worse than the U.S. Depression, each losing nearly everything but their lives. They raised me with essential parsimony. Not actual deprivation, mind you. Just a frugal mindset that pervades my being. But now I have predictable (if meager) income, and no debt. I have money in the bank, and could afford nice things. But it just feels wasteful to throw away something that I can fix. I mentioned this in "How Does a Microwave Work?" Things I no longer need may end up on eBay. I usually net less than minimum wage for my time on most of these sales. But the widget/parts/book gets a new life with someone who really wants it, and the post office makes some money. Yet I regularly ask myself, "Is it worth it?"

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…Like I’m Eight

In the movie Philadelphia, Denzel Washington plays a savvy courtroom litigator whose catch-phrase in front of a jury is "Explain it to me like I'm eight-years-old." It's a great line and maybe I'm looking for that kind of clarity now. I really don't know what to make of this. Obama---who won election with a very solid majority of the popular vote and a most impressive majority of the electoral---has managed to be reasonable to the point of impotence. He's on the verge of validating every cliche about spineless intellectuals. The man is smart, erudite, has charisma, and can't seem to say no to the Right. It is possible that this is another one of those situations where we the people simply don't know what's going on and cannot therefore grasp the tactics or strategy. Maybe this is cleverness at such a level that it looks clumsy and gutless. I don't believe that for a second, though. (The only thing that makes any kind of sense in that vein is the idea that he is handing the GOP more and more rope with which to hang themselves. The problem with that is any rope, in order to work in an execution, has to be tied to something substantial on one end.) [more . . .]

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