Every day is a new day, except in the financial crisis where the news keeps getting worse, the problem continues to spread, and the culprits are many and not the few.
It is obvious that many, if not the majority, of national banks are insolvent. The only question is when this will be recognized by the government. The charade is coming to an end.
There was no tangible regulation. Underwriting standards were nonexistent. Cost of capital was too cheap. Highly leveraged institutions became the norm. Borrowers were happy to use their home as an ATM.
"Everybody plays the fool sometime; There's no exception to the rule." - Aaron Neville
Yet, the average citizen is still in the dark about financial affairs. It is really a surprise that businessmen would choose the "free lunch"?
"There's a sucker born every minute." - PT Barnum
Wednesday, February 18, 2009
Friday, February 13, 2009
A Tale of God's Will
I saw Terence Blanchard perform earlier tonight on the opening night of the Portland Jazz Festival at Arlene Schnitzer Concert Hall.
Mr. Blanchard performed tracks from his latest album, "A Tale of God's Will". The music was composed in response to Hurricane Katrina. I became familiar with Mr. Blanchard and his work after viewing Spike Lee's "When The Levees Broke". He is a resident of New Orleans.
Powerful.
The man had real presence and his music wove a devastating tale of woe and desperation, a call unheeded.
The government's response to Hurricane Katrina at best horribly inadequate and at worst, pure criminal. You wonder what lies in the souls of men?
There is a famous photograph of George W. Bush observing the aftermath of the hurricane from the friendly confines of an airplane cabin. This was powerful art as well, yet it told a different story. This is a man who fears reality.
Terence Blanchard lived it. It is a part of his soul.
Mr. Blanchard performed tracks from his latest album, "A Tale of God's Will". The music was composed in response to Hurricane Katrina. I became familiar with Mr. Blanchard and his work after viewing Spike Lee's "When The Levees Broke". He is a resident of New Orleans.
Powerful.
The man had real presence and his music wove a devastating tale of woe and desperation, a call unheeded.
The government's response to Hurricane Katrina at best horribly inadequate and at worst, pure criminal. You wonder what lies in the souls of men?
There is a famous photograph of George W. Bush observing the aftermath of the hurricane from the friendly confines of an airplane cabin. This was powerful art as well, yet it told a different story. This is a man who fears reality.
Terence Blanchard lived it. It is a part of his soul.
Sunday, February 8, 2009
Ideology & Policy
I asked my apartment manager why ideology and policy are separate when charting a political agenda?
It would make sense to craft policy to build the framework in support of an ideology or vision. Partisanship aside, isn't that how succesful non for profit, private, and public entities work? Not in modern politics however, because there must only be pragmatic solutions.
America has consistently short changed itself by adhering to the status quo.
Now we are behind the 8 ball and it will take more than magic to reverse our course. We cannot continue to mortgage the future for the sake of the present. Trickle down economics has led to income inequality. Reliance on foreign oil has crippled our geopolitical agenda. The lobbyists have crippled our health care system.
This isn't about politics anymore. It is about our future and whether our children and grandchildren will have one that is true to the revolutionary spirt of America.
Right now, they will be left holding the bag.
It would make sense to craft policy to build the framework in support of an ideology or vision. Partisanship aside, isn't that how succesful non for profit, private, and public entities work? Not in modern politics however, because there must only be pragmatic solutions.
America has consistently short changed itself by adhering to the status quo.
Now we are behind the 8 ball and it will take more than magic to reverse our course. We cannot continue to mortgage the future for the sake of the present. Trickle down economics has led to income inequality. Reliance on foreign oil has crippled our geopolitical agenda. The lobbyists have crippled our health care system.
This isn't about politics anymore. It is about our future and whether our children and grandchildren will have one that is true to the revolutionary spirt of America.
Right now, they will be left holding the bag.
Tuesday, February 3, 2009
Gravy
There are moments in life that are frozen in time. The New York Rangers and the Stanley Cup championship season of 1994 is something I will never forget.
Tonight, one of my heroes held back tears as his blueshirt was raised to the top of the blues in Madison Square Garden. Adam Graves was the heart of the team that season. It was the best year of his career and the Ranger's first title since 1940.
Hockey was a big part of the Cross household and the men that lived under the roof of 123 Sycamore Avenue. It is our common bond.
My heart soared tonight.
I couldn't help but remember how I felt growing up playing street hockey in my driveway. The many nights at The Meadowlands watching the Devils and Rangers create a fierce rivalry through the years. The excitement I first felt heading down 33rd between 7th and 8th Avenues. Walking the hallways of the World's Most Famous Arena. Catching the SI Ferry ride home after taking in a weeknight game against the Capitals, Penguins, or Flyers in the middle of the Winter.
Those days and nights will forever be a part of me.
Tonight, one of my heroes held back tears as his blueshirt was raised to the top of the blues in Madison Square Garden. Adam Graves was the heart of the team that season. It was the best year of his career and the Ranger's first title since 1940.
Hockey was a big part of the Cross household and the men that lived under the roof of 123 Sycamore Avenue. It is our common bond.
My heart soared tonight.
I couldn't help but remember how I felt growing up playing street hockey in my driveway. The many nights at The Meadowlands watching the Devils and Rangers create a fierce rivalry through the years. The excitement I first felt heading down 33rd between 7th and 8th Avenues. Walking the hallways of the World's Most Famous Arena. Catching the SI Ferry ride home after taking in a weeknight game against the Capitals, Penguins, or Flyers in the middle of the Winter.
Those days and nights will forever be a part of me.
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