Though I have real issues Mayor Bloomberg, the publication which bares his name is often superb. We highlight their articles regularly at ACC.
But Bloomberg publishing has got a real problem on its hands. On Friday the story broke that reporters at the magazine and website may have had access to when bankers and traders from Goldman Sachs, The Federal Reserve, to the Vatican were online, and even what their keystrokes were. Pretty high quality information.
We have bike share in Washington DC and it seems to work pretty well. So long as the program is privately funded in New York I have no problem with it for the most part. (I believe the program is publicly funded in DC though, and the program in New York has still been decreed by city hall.) But Mike Bloomberg, New York’s Napoleon and Dietitian in Chief has decreed that if one is fat one may not use the bikes in the new program.
What is with this guy? He just thinks there is too much freedom. Guns, salt, soda, whatever. He knows best. The citizenry are to be tolerated to the degree that they are living annuities which keep the economy humming and that is about it.
Good information is the most valuable commodity one can posses. When good information comes from one of the most powerful entities in the known universe, the Federal Reserve, this is especially the case. Getting early access to whether the Fed will lower rates, raise rates, or keep them the same would be the ultimate advantage for an investor. Yesterday the world learned that such an advantage was given to some of the worlds largest banks, accidentally.
Sorry but Bill Mahr makes me laugh on occasion, such as in this clip.
People want desperately to think that things are not their fault. If you’re fat because you’ve spent a lifetime drinking Mountain Dew, it’s not your fault. It is society which has failed YOU. Those 2 liters were too easy to buy. The cups at 7-11, too big. You can’t be expected to control yourself, and that is why the people who are smarter than you, you know the government, must save you from yourself.
I’ve seen Mr. Bloomberg a few times in person. Each time he holds court and the people around him defer and genuflect. I get a very Napoleon like vibe from him.
I wonder if he, like Napoleon did, thinks that he is guided by a “shining star.” That Bloomberg’s will is fate, and fate is his will. New York is blessed to be under his rule.
Last month Bloomberg.com stated in an editorial that the big banks enjoy a massive “too big to fail” subsidy created by Dodd-Frank. Other banks will lend to banks with a TBTF designation at a lower rate than they would otherwise because they know that a TBTF bank is ultimately backstopped by the taxpayer. Incredibly the subsidy constitutes nearly all of the profitability of the banking sector.
Of course I have yet to hear anyone on Wall Street thank the taxpayers of America for anything. Did Jamie Dimon or Lloyd Blankfien ever look into the camera during a congressional hearing and say-
