Massively dysfunctional enforcement at the SEC and the Fed

TMP has presented a terrible, yet not surprising, description of the enforcement arm of the SEC. Based on this detailed description of this dyfunctional enforcement arm, no wonder securities fraud has been running rampant. Oh, and on a related note, Huffpo reports that:

The inspector general tasked with overseeing and auditing the Federal Reserve knows pretty much nothing about what the Fed is doing. . . . She did not know where the Fed has invested its $2 trillion on the liability side of the balance sheet. "I do not know. We have not looked at that specific area at this particular point on," she said.

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Altruism in Sports – Strength Fest 2009

This past week I had the very enjoyable assignment of creating a short video of a four event strongman contest. The event was called Strength Fest 2009 and was held to celebrate the 10th anniversary of Iron Sport Gym which caters to athletes who compete in Strongman and Highland Games competitions. I thought that the readers of DI might find this video generally interesting but, more than that, I wanted to point out an aspect of the sport that I find fascinating, refreshing and which reminded me of a recent post here at Dangerous Intersection. One of the things that always strikes me about strongman competitions is the camaraderie. We are all familiar with teammates supporting each other, but in this case I am speaking about the camaraderie between rivals. Starting at around 2:15 watch how the competitors try to inspire one athlete to complete his lift, going so far as to slap him in the face to help him get motivated! (Watch carefully, he asks for it!)

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Obama to credit card companies: stop ripping off American consumers

Could you ever imagine George W. Bush scolding credit card companies for "ripping off" and "abusing" American consumers? Barack Obama is proposing to do away with the fine print and to do away with profits that depend on misleading hard-working families by hiding fees and penalties. He wants to sign a bill reforming the industry by Memorial Day.

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A long-time admirer of Israel is disillusioned

In a U.K. Guardian article entitled, "The Paradox of Israel's Pursuit of Might," long-time admirer of Israel Max Hastings writes of his disillusionment regarding Israel's ambitions:

I was a correspondent there in October 1973, during the Yom Kippur war. It was an extraordinarily moving spectacle, to behold the people of Israel rallying to meet what they perceived as a threat to their national survival. One morning I stood on the Golan Heights and watched Israeli tanks duelling with the Syrians, amid pillars of smoke and flame . . . For someone like me, who enjoyed a love affair with Israel 40 years ago, it is heart-breaking to see the story come to such a pass. It is because so many of us so much want to see Israel prosper in security and peace that we share a sense of tragedy that 61 years after the state was born amid such lofty ideals, it should be led by such a man as Bibi Netanyahu, committed to policies which can yield nothing honourable or lasting.

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