My Thoughts Exactly:
Run the banks?

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On some other blogs I read (obsessively, lately), I’m starting to see people calling for a run on the banks. Go down and take out $700.00. Or or $70. Or $7,000. Whatever you can afford. That’s what they’re saying, not me. The idea is that even though nobody in the country likes this bailout, congress is going to vote for it. Since they won’t listen to our calls, faxes and letters, send a message that they cannot ignore.

Frankly, it doesn’t sound like a bad idea to me. Sure, it’s like burning down your own house to make a point, but it’s better than just being robbed at gunpoint with no protest at all.

Inventing the Future:
No Deal, Charles

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I agree that we are on the precipice of a disaster. I would like us to act to prevent it. I do not insist on assigning blame or even being fair in how we act, as there will be time for that later. The only thing that is required of how we act is that it solves the problem.

No one has explained to me how taking the bad loans off the books of banks actually solves the problem. What has been explained to me by the officials and the politicians is that there is far more money at risk than that tied up in these loans. The money has been promised to average Joes, governments, and wild speculators, based on the idea that other average Joes, governments, and wild speculators will pay even more for these incomprehensible instruments in the future. At the original bottom of this pyramid are the at-risk loans. Yes, I agree that there is a crisis of confidence in the market, as the President put it. But I fail to see how now the politicians now suddenly understand these instruments, and that the way to keep them from collapsing is to take the loans off the books of the banks.

Are they saying that they intend for average Joes, governments, and wild speculators to keep shoveling ever-increasing amounts of money into the derivative market based on these loans? Ponzi schemes do collapse when triggered by a failure of confidence, but a child can see that even with no failure of confidence, they can only be sustained as long as there are increasing amounts of investment at the bottom. Eventually, the world runs out of money.

Now is the time to drop a note or leave a message for your representatives and let them know how you feel. Their contact info is online. Don’t forget to tell them that you’re in their district/state.

Tales of the Sausage Factory:
JAPO (Jewish American Prince/Princesses for Obama) Promises To Get Designer Boots On The Ground For Campaign.

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Alright already! So you’re a fellow landsman who is getting all faklempt because your grandparents think that someone named “Barack” is a Moslem even though you keep pointing out to them that Israel had a Prime Minister named Barak and that the name also comes from the story of Deborah in the Book of Judges? And you have some free time over Columbus Day weekend? Mazel tov! Have I got a deal for you . . .

You need to join the Great Schlep. No, I’m not talking about taking the subway from Park Slope to Midtown! The Great Schlep is all about getting all the young Obama peshers to talk the Hilary altercockers by having them visit their grandparents in Florida (and elsewhere! You think you should forget your grandmother in Cleveland just because she didn’t move to Miami with the rest of her Haddasah chapter? Shame on you!) to schmooze about Obama and how for a guy with a goyishe kop, he’s really a mensch who isn’t going to sell out Israel or turn your condo over to the schvartzes for reparations for “stuff I shouldn’t even feel guilty about because we were in a schtetle in Odessa during slavery and believe me it was no picnic and besides your mother did all that marching back in the sixties so why is it my fault I’m asking.”

Will it really work? Nu, could it hurt? So the worst thing is you’ll see your grandparents, who mentioned just last week that you never call or write and why do they have to go to something called “flashr” or “flickr” or something to see your picture when they haven’t seen your face or heard your voice since your cousin Tiffany’s bat mitzvah. It’ll get you to visit Bocca when it isn’t that meshuganah spring break or whatever where you do all that stuff I don’t want to hear about or I would die of shame.

So go already.

Stay tuned . . . .

My Thoughts Exactly:
I support the Bernie Sanders Plan

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I’ve been doing a fair amount of handwringing over the meltdown on this-ahere blog lately, but now let me offer something positive. I support, 100 %, the plan put forth by Senator Bernie Sanders, Independent of Vermont. Sanders is asking for citizen co-signers. I signed, you should too.

As for the crappy plans before Congress now, I hate all of them, including Dodd’s. If they go through, I’m not sure I’ll ever file taxes again. If Bush thinks it’s so all-fired important to make Paulson a monarch, then why has he not gone on television to explain why democracy must end now? It’s all baloney. I’m with Bernie on this one.

My Thoughts Exactly:
Cuddle up baby; cuddle up tight

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Over on the Great Orange Satan, sane and smart America-loving people have been providing terrifying and more terrifying and still more terrifying analyses of where we are and how we got here (thanks in no small part to that lying, power-lusting senile tantrum-throwing baby John McCain and the truly monstrous Cheney/Bush junta). It seems to me that the United States of America may be in more danger of falling apart than at any point since 1864. Let me provide a second link to that last-listed item, by Devilstower, with the sublime title Three Times is Enemy Action. Go read it, my friends, and tremble for your country.

Uber neutrino-class wetmechanic Bremser said to me yesterday in private correspondence, (apropos of this poetic flight),

Odd, that’s the second day in a row that Jefferson Airplane was quoted
to me in the context of this meltdown; the first time the lyrics were:

In loyalty to their kind
They cannot tolerate our minds.
In loyalty to our kind
We cannot tolerate their obstruction.

You can imagine how we got around to remembering that lyric.

Today it’s a it’s a song by the Stones that I cannot shake.

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Tales of the Sausage Factory:
Evaluation of the Comcast/BitTorrent Filing — Really Excellent, Except For The Gapping Hole Around the Capacity Cap.

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After Comcast surprised me with their filing on Friday, I really wanted to believe they had turned a corner. Not to anthropomorphize too much, but I had hoped that Comcast had gotten such a bad public relations disaster out of this that they were determined to work so hard to be good little puppies that even a Democratic Congress, Democratic President, and Democratic FCC would believe that the we no longer needed rules. And I would be totally down with that (their behaving that is, we still need rules). I love it when companies learn their lesson and stop misbehaving. Remember, public policy is (IMO) all about result. If swatting Comcast on the nose like a naughty puppy gets them to stop pooping on their customers, then they deserve a pat on the head and a tummy yummy treat when they behave.

But I’m having a “Columbo moment” here. For those who did not grow up in the 1970s and therefore do not recognize the reference, Columbo is a television detective who every episode goes to talk to the chief suspect about the circumstantial evidence, and the chief suspect always has a fully prepared and perfect alibi. On the way out, apparently as an afterthought, Columbo will turn around and say: “there’s just one thing that bothers me.” This question on a minor inconsistency turns out to open a gaping hole in the suspect’s alibi and — in classic television fashion — allows Columbo to solve the crime by the end of the show.

I do not pretend there is any mystery here left to solve. Comcast’s filing very neatly explains their past practices, how we reached this point, and how Comcast intends to change its practices. It includes benchmarks for performance and a plan for informing its subscribers. It looks exactly like what the Commission ordered.

There’s just one thing that bothers me. Footnote 3 of Attachment B. Comcast stresses in footnote 3 that its 250 GB per month cap is not a network management policy, is not a replacement for its current network management practices, and therefore is not actually a proper subject of this disclosure report. Now why did they go out of their way to say that?

If you will excuse me, sir, while I adjust my raincoat, a bit more analysis below . . .

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Tales of the Sausage Factory:
ESPN360.Com Locks Up It's Content — Let The Fragmentation Games Begin!

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There’s been a lot of back and forth over whether letting broadband providers lock up content, or content providers lock out ISPs, is a good thing or a bad thing. And now, ESPN360.Com is going to kick off the fragmentation games and let us all find out.

It is a fine old Republican free market anti-deregulatory tradition to deregulate critical infrastructure and hope for the best, pooh-poohing doomsday predictions as ignorant exaggerations and fear mongering by business-hating regulation-loving quasi-commies. And since this philosophy worked so well with our financial sector, we have now moved it to the next major engine of the economy — broadband.

I am so excited! For those who have developed a taste for Lehman Bros-type thrill rides, the ESPN360.com deal will bring back fine memories of your first subprime derivative. You (and the rest of us along for the ride) can look forward to the thrill, the excitement, the dramatic highs and lows of playing high stakes roulette with our digital future. True we’ve lost our mortgage money (literally and metaphorically) playing “follow the Subprime queen.” But don’t worry. As any economist will tell you, the combination of a lack of information, high transaction costs, complex interrelated markets, and poorly understood network effects is just tailor made for that wild west anything goes atmosphere that made all them miners rich in the Sacramento gold fields!

Bet our critical infrastructure? How can we afford NOT TOO!!!

Details below . . .

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My Thoughts Exactly:
Bush and Paulson to Nation: “UP AGAINST THE WALL, MOTHERFUCKERS!!”

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If you’re not reading Atrios as the class war goes into high gear (the money class has the virtual Panzers and hellfires fired from drones and legions of off-the-books Blackwater goons, but to quote the late great tripped-out lizard king himself, ‘you got the guns but we got the numbers’), you really should be. I love this dog bark: Nationalize it all, baby. It’s Kapitalism with a kapital k! Fuck yeah! And don’t forget to bail out Phil Graham’s foreign bank while you’re at it.

This is fun! The Republicanism of the Bush/Cheney/Rove/Norquist era has always been about nihilism, the pure joy of fucking shit up, vandalism, destruction, and setting loose the dogs of war. But until now they’ve pretended it was about other stuff. As the movie comes to its climax, Dracula is showing his fangs: no more pretense of being a misunderstood minor aristocrat from foreign Transylvania. It’s bloodsucking time, suckas, and you sure look tasty to me!

Man, I’ve got to find my old Jefferson Airplane records. There’s a song a need to hear, the perfect soundtrack for this rape and plunder, the New Republican Anthem :


We are forces of chaos and anarchy
Everything they say we are, we are
And we are very
Proud of ourselves
Up against the wall
Up against the wall, motherfucker
Tear down the walls
Tear down the walls

But please, President Bush, don’t be so totally mean. I mean, don’t bogart that joint, dawg. Everybody needs to get toked up to watch this show, dontcha think?