Thought I was gone for good? Nope. I'm back today for a brief pop-in.
The SEC just announced charges against Goldman-Sachs and I couldn't stay away.
The allegations, in a nut shell:"Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party,"so says Robert Khuzami, Director of the SEC's Division of Enforcement.
The unnamed "client" is John Paulson, FYI.
Talk about an "I'm Glad It's Not Me" day. I'm glad I'm not:* a lawyer in the SEC enforcement division.
* a baby lawyer at the firm Goldman hired to defend it. Lord, I'm glad I'm not that.
* Fabrice Tourre, the loose-lipped Goldman golden boy who gloated in an email to his friend,"More and more leverage in the system. The whole building is about to collapse anytime now.…Only potential survivor, the fabulous Fab . . . standing in the middle of all these complex, highly leveraged, exotic trades he created without necessarily understanding all of the implications of those monstruosities!!!!"[sic]
* John Paulson, the billionaire hedge fund manager who worked in concert with Goldman to pick super crappy mortgages for Goldman's ABACUS CDO (Paulson shorted it, of course), even if he wasn't charged by the SEC.
* David Kotz, the author of the SEC report, also released today, which says the SEC knew about Allen Stanford's ponzi scheme as early as 1997. But the SEC failed to act because of "institutional influence." Now that's a euphemism worthy of award.
* this school photographer. For heaven's sake! How do these people stay in business?
On a somewhat, but not very, related note, Mr. M just got home from school and reported his playground altercation. One of the kids refused to get off of Mr. M's bike and after a protracted exchange, Mr. M pushed the perp. A mother standing nearby told him to "use your words."
Sorry to offend, but I can't stand that ridiculous talk. "Use your words," "use your inside voice," and "that's a sad choice," are just plain silly and I told Mr. M so.To which he replied, "You know, I was thinking this morning on my way to school that you are a good mom. Because you don't talk in a squeaky voice like all the other moms do."
Score one for the blunt mom. Yes, on this day I'm especially glad to be me.
My hope is to post next week on the commerce clause. Although always a sexy and scintillating topic, now it's a timely one, too, in light of our new health care law and the upcoming vacancy on the Supreme Court. (Oh, that unemployment post I was working on? Meh. Too boring and depressing).
In the meantime, here's letting you in on some big news. If you've been the internet slug that I've been lately, you may not know that our beloved Dental Maven has a new website. She's moved from the "know your teeth" spot and into her own.This Maven is witty, wizardly . . . and chock-full of stories, like her post on cheaters. Is your husband brushing his teeth every day? This could be a bad omen, girls.
Thinking about saving money by using an unlicensed dentist? Bwahahaha. The Dental Maven will set you straight.Happy Friday. Happy Glad-to-be-Me Day.
Posts
13 comments:
ALl I know is that I want a popover.
Thanks so much for the plug Lawyer Mom!
And good for Mr. M! Gotta stand up for yourself in this life.
Definitely need your input on the commerce clause - I'll be looking for that one.
OK. I confess already. Being a language person and all, I might have bought into the parenting lingo early on, though I never rendered it in anything approximating a "squeaky voice." But I did say "walking" about 10 times in a row with an increasingly elevated pitch instead of just screaming, "No running!"
Anyway, one day my dad just flat out asked if anyone was ever going to get to say "No" to my son, then about 3. I think somehow that was a turning point in my parenting and I abandoned the ridiculous euphemisms. Bravo to you for never indulging in them!
Mary
Flat Rock Creek Notebook
I love Mr M, I really really do.So perceptive he is!
My 4th child (now 18) can be particularly outspoken and unpleasant. But I have to admit I take secretive pride when her "words" (as in fu#c off, kiss my a**)have gotten her in trouble because I've always been a bit of a push over. The recipient usually deserves it.
Now if we can only figure out what career to harness that power for.
"Use your words" drives me nuts. A guidance counselor recently advised my son's class of fifth graders to tell bullies on the bus, "What you just said/did hurt my feelings and made me feel small." I believe sometimes you've got to use your elbows, your dirty looks, your height advantage (if you've got it), or at least your bad words.
I truly detest parental lingo. I don't use it on my kids, and parents who do go to my "idiot" list in a hurry.
Kids respond to being valued. Which means being talked to like grown-ups.
And how come Paulson is walking away from this without charges????
You are definitely not the "squeaky mom"! I am also a big time hater of "use your words" although it's possible I went too far when I offered the advice "public humiliation is always a viable alternative" to Mr. C when he was dealing with a bully that clearly would have killed him if he got physical.
I, uh, think I'm a squeaky voice mom
Um, it was Mr. M's bike, right?
I'm thinking the mother should have given him a high five and told the perp to respect other people's property.
But that's just me.
(notice how I'm ignoring the Paulson thing? It's Sunday morning, and I'm trying to resist using curse words on the Sabbath.)
Off to check out Maven's new digs...
I’m so tired of all these crooks not going to jail.
Geez, can’t that school kid get his own bike? Isn’t Mr. M the only child who is riding a bike to/from school? Over here we use words to wonder out loud why some kids who live within walking distance to the school do not ride their bikes or walk.
All I know about Goldman-Sachs is, they're in bed with the current admin, so look for the current revelations to be manipulated for more control over Wall Street, while GS gets very little real punishment in the end.
And I second what you writ about the Dental Maven ;)
Oh, and as for "using your inner voice" crap...when confronted with a playground bully, direct action usually gets it done; endless talk merely convinces a playground bully that you're weak and afraid.
I was taught to "turn the other cheek"; all it got me was hit and targetted. So finally, in my freshman year, I stood my ground, prepared to go down fighting. I didn't have to, and the bully became a friend.
Lesson learned. Stand up for yourself.
Hurray for non-squeaky-voiced moms!!
Hey, the other day, I was sitting at the YMCA with Jessica from Bern This, and we were both lamenting that we haven't heard from you lately. Have we lost you to the real world? Miss you.
Post a Comment