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Posts Tagged ‘regulations’

Actually, we need not fear much more than ourselves, specifically idiots like Napolitano.

She confirmed that there was no air marshal on the plane with Abdulmutallab. They are not on every flight.

Wow.  Couple that with the TSA operations giveaway bonanza, the terrorists can worry a lot less while trying to kill our folks.

She’s a true idiot.  She says that the system failed miserably.  She says that the system worked perfectly.  Unverified reports also quote her as saying that potpourri-crapping flying unicorns will be posted at every boarding gate.

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I don’t mean “fear” fear, I mean if we’re going to be vigilant, lets stop this cute little charade.  Anyone who wants to say “Oh you can’t do profiling!” should be shouted down and quickly sent home.

If a rapist is loose and 17 young women have been attacked I don’t go looking for suspects in the “soccer mom” category, the “83 year old” category, or the “1st-6th grade” category.

No, I go straight to the 16-60, male, more than 140lbs, and generally, with a prior record category first.

So why the hell are we pussyfooting around with ridiculous rules like “No being out of your seat 1 hour before landing”?

Travelers on incoming international flights said that during the final hour, attendants removed blankets, banned opening overhead bins, and told passengers to stay in their seats with their hands in plain sight. – Fox News

It ain’t swedes, WASP mothers-of-two, japanese businessmen, or Boy Scout troop leaders doing this stuff folks.  In the wake of 9/11 there have been massive increases in security – each time in response to a muslim extremist bent on killing innocent people.

Feel free to call me racist but I’m only stating fact.  If some reader wants to be an ass about this, read this first:

Umar Farouk Abdulmutallab told FBI agents there are more just like him in Yemen.

And in a tape released four days before the attempted destruction of the Detroit-bound Northwest plane, the leader of al Qaeda in Yemen boasted of what was planned for Americans, saying, “We are carrying a bomb to hit the enemies of God.”

Umar Farouk Abdulmutallab, charged with the attempted Christmas Day bombing of Northwest Airlines flight 253, told FBI agents there were more just like him in Yemen who would strike soon. – abcnews

How abcnews can print this yet have had such an anti-Bush slant, I’ll never know.  I guess they don’t have to be consistent.

Even Timothy McVeigh (may he rot forever) at least targeted a federal building and not a planeload of innocent people.  If all McVeigh had been interested in had been killing lots of totally innocent people he could have done that in any crowded downtown area.  The fact that he still ended up killing lots of innocent people is why I say “may be rot forever”.

But these extremists are purposely targeting innocent people.

Let’s stop inconveniencing the majority for the actions of radical extremists all of whom are affiliated with one subset. Focus on the culture at fault.

Otherwise, start arresting grandmothers for suspicion of rape, too.

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To help Iranian dissidents or not to help…?

I understand the desire to help those dissidents with which we sympathise.  Unfortunately these cultures, much like our country when it started, must do what needs to be done on their own.  If they have to do it the hard way, on their own, committed to their cause and convinced it is right, then they will be that much stronger for it.  This would be my stance if that was the only issue.

The other issue, that of nuclear power, is one that affects security of everyone in the region and wherever they manage to ship one of these devices.  This cannot be allowed by any stretch of the imagination.

Much as I dislike Obama, he’s got a tight line to walk here.  Iran is a very hard target and the whole area is tinder-dry.  Covert support is probably about the only option available right now.  Covert as in “not blabbed to the media or the public”.

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I blogged it last night but I’m showing the Bugatti Veyron again because I can and I want to.  Clarkson, you are one lucky bastard to have driven this.

Bugatti-Veyron_2005_800x600_wallpaper_03

What a thing of beauty.  A picture is probably as close as I’ll ever get to one.  (sigh)

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Not so well known by me, though probably countless others are/were aware – that while Wall Street is held to the Securities and Exchange Commission regulations and oversight designed to curb improper trading, others are not.

Guess who is not held to account for what is essentially insider trading?

Congress.

Yes, your elected officials can schmooze with lobbyists, talk behind closed doors, have private meetings with industry leaders – and then turn around and sell off their stock just before bad news goes public.

I wasn’t oblivious to the practice, I just thought that it was illegal and there was no one set up in a position to enforce laws on th e matter.

According to that source (above), insider trading is:

  • “Violation of a duty (as in the duty of fidelity of an officer to his corporation and its shareholders); or
  • Misappropriation of information that belongs to a third person (as in the information about what’s going to appear in a print journal that is ascertained [found out] because the ascertainor is an employee of that journal or of a printing company contracting with that journal).”

And you say “Uh, so what? Isn’t that obvious?”  Well, not so fast when it concerns your representative who is really out for himself with that information he gleans as he gets paid by you to do his job…

… applying those two tests to Congress reveals an important legal truth. According to my source: “Congressfolk fit in neither category. They owe no duty of fidelity to anyone (possibly excepting their constituents) and all the information they ascertain is ascertained in pursuit of their Congressional functions with no strings attached.

In other words, since people in Congress don’t have a duty to a corporation and they are getting their insider information in performing their jobs as Congress people, they can use that information without restriction.  – Peter Cohan

So while your portfolio tanked like mine, across congress the average returns were well above the average elsewhere.

Senators make significant abnormal returns, some place around 1 percent above the market, 12 percent a year.  – Alan Ziobrowski

<snip>

It’s absolutely incredible, but the Securities and Exchange Act does not apply to members of Congress, congressional staff or even lobbyists.  – Craig Holman

Why even bring it up, you might ask.  Because in spite of possible unintended consequences, I’d like to suggest this idea that came to me while great deep and profound brain things were going on inside my head:

Upon entry into congress and for a period of two years after leaving congress, all congressmen and congresswomen would surrender their stock portfolios to be administered in a double-blind fashion such that they can only direct their investments in a totally transparent third-party-scrutinized fashion.

Cashing out could only be done after a 2 week waiting period.

Fairly safe to say that Congress isn’t going to vote itself off the money island.

There’s lots of sources of information out there, but do watch out for OpenSecrets.org, which according to the IRS was a funding source for The New Democrat Network.

Here’s a good source:  Stephen Bainbridge – Insider Trading by Congressmen

On his blog he also brought up two very interesting ideas – Is Obamacare a Done Deal? and Regulating Away Financial Crises. A third entry concerns risk-taking in business – Regulating Banker Pay.  Mainly, that the Fed is interesting in curbing risk-taking behavior in the business sector, which will put the brakes on the flow of money.

(My opinion) What the people who favor more regulation fail to recognize is that a lot of practices have evolved the way they did in order to maximize two things – attractiveness to investors and increased returns.  Stifle investment practices and you’ll negatively impact the economy.

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Giant wooden dinosaur skeletons – cool.

Making a pinhole camera out of an Altoids can – even cooler.  Of course a used condom packet could be made into a pinhole camera with enough black tape, but I like it.

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And now they’re transgendering a 9 year old.  That’s too young for the age of consent for a life-altering decision.  Sorry.

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