Tuesday, 15 September 2009

I Am An F-B-I Agent

I know Bodi didn't say that, but it's the best line in the movie. Keanu.

Jed Rakoff is my hero. Judge Rakoff gave the finger to both the SEC and Bank of America in their settlement over bonus payments to Merrill bankers after Merrill’s shotgun wedding to B of A last year. B of A agreed that their shareholders should pay $33 million as a penalty for B of A/Merrill management’s failure to adequately disclose a couple of billion dollars in bonuses that they gave themselves at the shareholders (and taxpayers) expense. B of A are the same geniuses who paid actual money for Countrywide’s piece of crap business model. Ain’t life grand?

Retail sales might show a bit of a gain this morning, but is anyone going to be surprised when they go in the tank at the next reporting? The artificial cash for clunkers spike is going to fade and that will leave the rest of the picture in the tank.

Back to Robb’s cash for clunkers good/bad/indifferent evaluation of a while ago, one thing that got touched but not adequately was the boost it gave to healthier companies (Toyota, Honda, Ford) at the expense of the ones that you and I own (GM and Chrysler). So, on our behalf, the government spent our money to consolidate the underperformance of the “assets” they’ve invested in on our behalf. WTF?

There is a stock market bubble quietly inflating. It’s sort of the last refuge of a desperate market that needs to secure huge year end bonuses. Don’t forget, it’s just as easy to foreclose on a $5mm house in Pound Ridge as it is a $150k house in SE.

So I’m excited for this last race this weekend, but the first race I’m doing starts at 7am on Sunday. Huh? It’s like a 30 minute drive to get there, then however long it takes to register, then warm up and get to the line. Sounds a lot like me getting up at what 5? Lame. In theory, I’ve still got plenty of enthusiasm to go and race. Heck, the way things are going lately all I want to do is race. But, in theory, I don’t have to be on the starting line at 7am on a Sunday morning to do it. I’m not that strong at 7am. Maybe it’s my spineless coffee addiction that does it to me. Who knows? My A #1 goal going into this year was to win a race. Any race. After the past couple of weeks I’m happy with how the season’s turned out, but I have just two more chances to accomplish that goal. One happens Sunday at 7am, the next happens immediately after. If I manage to just not screw up one or the other of them I should have all of my upgrade bases covered, in every iteration of the rule.

Serena Williams. Yeah.

Nobody puts Baby in the corner.


Tim Rugg said...

Upgrading on pack finishes?

Chuck Wagon said...

Har har. No, assuming I don't chunder it this weekend - points, top tens, and pack finishes, take your pick. Lots of points lately.

Jim said...

Hah. I've had no love from Ford cars but great luck with their trucks. And I really like their ads lately. Saw one with Mike Rowe, who just may be my man-crush. "We're not asking for your help; we're just asking for your business." Bingo. The third or fourth generation of Ford family leadership has some goofy-ass political ideas from time to time - current generation included - but the basic outlook of the company is more aligned with my thinking than the other two. When the Escape goes I'll get another Ford p/u or some SUV based on the p/u chasis. They deserve my support simply for their refusal to be corporate welfare-sucking swine.

BTW, when did the $25 billion bailout of Generally Moribund and Moper become an $86 billion bailout? Did I miss something? Was I sleeping last spring and summer?

I hate Jacobins but I see how it'd be easy to become one.

Chuck Wagon said...

You know, Jim, Mike Rowe is from Baltimore, and isn't that company he works for in Silver Spring, and isn't cross racing the dirtiest job in cycling???? You see where I'm going here??? If it happens, I'm on screen.

Jim said...

I hate to say this but having had some pretty dirty jobs particularly when I was in the .mil domain, and when I was a contractor, I'm not sure that cross is dirty enough unless you live in Portland. You'd have to have a muddy race. Last year's Ed Sander would have qualified - make him the Neutral Pit Support guy or something. But it's just not *that* dirty. Now a pro bike mech on the Euro cross circuit - that I'll buy. That is filthy work. We're pretty spoiled here though.