Tag Archives: right and wrong

It’s Damn Tough Being Master of the Universe Anymore

Courtesy of the Huffington Post: “On Wall Street, there’s some feeling that things just aren’t what they used to be.”

“The industry that many allege played a fundamental role in the financial crisis is now dealing with the ramifications of the meltdown, albeit in its own way. The prospect of smaller profits combined with public ire over banker pay — including that from the Occupy Wall Street movement — means that many in the finance industry are saying they believe that the culture of huge bonuses and paychecks may be over forever, at least according to one ex-Lehman banker.

“The feeling is compensation is never really going to come back, which is something entirely new,” an anoymous ex-Wall Street worker told New York Magazine as part of their Workplace Confidential series. “After the tech bubble, no one questioned it wouldn’t come back. We all knew it would. Now it’s different. It’s just no fun.”

Just no fun! Hell is this, a salt mine?

But, all’s not lost, Pilgrims. While banks’ executive compensation may be dipping, over there at Goldman Sachs, compensation as a share of revenue is slated to go up to 44 percent from 39.3 percent, according to the New York Times, a trend that is common on Da Street.


Bonamici Meets the Wayne Morse Test

As I watch the special election campaign unfold in Oregon’s First Congressional District—the seat I captured for Democrats for the first time 38 years ago—I think of advice the iconic Senator Wayne Morse gave me in my first race in 1974.

In the darkness of his car at the end of a long day of campaigning, the old warhorse tapped me on the knee and said:

“Young man, always remember who you are and what you’re willing to lose an election for! The one who cannot will do anything to win. And that’s a dangerous man (sic)—because he will always put politics above principle and self above country.”

The reason the memory returns is that the Wayne Morse standard so perfectly distinguishes the Democrat in this race, Suzanne Bonamici, from her contortionist Republican challenger, Rob Cornilles. Bonamici is an unapologetic Democrat who will put government back on our side—to create “trickle up” policies, to protect the environment, to safeguard Medicare, to stop wars of choice rather than necessity, and to make the very rich pay a fair share of taxes to help reduce the deficit.

Her weather vane Republican challenger is posing as a moderate, for this season at least, because he knows it’s the only way he has a chance against Suzanne, a former Federal Trade Commission lawyer and state legislative star. So he talks about a flat tax when only 16 months ago—in a different political season—he supported the Bush tax cuts that added $2.5 trillion to the deficit to benefit the 1%.

Bonamici has explicit ideas for cutting the budget deficit: cancel Bush tax cuts for millionaires, bring the troops home from Iraq and Afghanistan and close loopholes for established industries like Big Oil.

Cornilles? His plan is to—ta da!—pass a Constitutional amendment to outlaw that darned red ink. Of course, he was instantly criticized because ratification of the amendment as part of the basic law of the land would in all probability force higher taxes and draconian cuts in the Pentagon. But wait! There seems to be no problem that Cornilles can’t solve with pixie dust; thus, he now says enforcement of the Constitutional no-no, once passed, (I’m writing this through tears of laughter!) would have to be “phased in” so as not to be too sudden of a jolt to taxpayers or the generals and admirals.

The differences go on: Bonamici, the steady adult, protected consumers as a lawyer with the Federal Trade Commission; Cornilles, the artful dodger, exploited his workers by failing to pay his share of their payroll tax, for which the government slapped him Continue reading


Latest Polling on Political Creeds

Latest polling result from Pew Research

What, if anything, do you think this tells us about how we discuss ourselves and others in the political arena? Just asking. I’ve got my own ideas. Curious about yours.


How Do You Know When You’re Wrong?

If you’re like me, it’s damned hard to be wrong! After all, our opinions come from that splendid Swiss watch of a brain in our noggin.

Yet we certainly know we can be wrong.

But how do we know? Whether we admit it or not?

The question seems especially relevant in the Age Of Certainty we live in.

What makes you know when you’re wrong?



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