Tuesday, March 16, 2010

From the much neglected blogroll



“White-collar area cases, I think, are distinguishable from terrorism or drug crimes, for the primary reason that, often, people are plotting their defense at the same time they're committing their crime. They are smart people who understand that they are crossing the line, and so they are papering the record or having veiled or coded conversations that make it difficult to establish a wrongdoing.” Ted "Taibbi" Kaufman via pas



text via Lohmann

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Friday, July 24, 2009

To David Simon



Dear David Simon,

You have gone from the penetrating world of The Wire to the impermeably inelastic world of Build the Wall.

Instead of talking supplicatingly to two publishers as you do in your piece in the Columbia Journalism Review, consider what you, we, and they are dealing with.

The money is in the pipes. The pipes are sucking it all into their nether regions. The money for content is there, but it's been abducted.

The quandary of viable content on the Net is not unlike the quandary of viable healthcare in a world of corporate greed. Consider the parallels; they are legion.

There's much more to be said on this. For now, what I'm saying to you - whose work I have deeply admired - is this: where's your imagination? Where are your investigative instincts? Where is your ability to follow the almighty $ from the streets to the vultures to their insect lords?

Dude. No fucking walls.

More to come.

==

Some of the More: {still in progress}

The hegemonic control over the finite, "hard assets" of the Internet has displaced the power of an infinity of content providers from making anything like real money from end users, who have already paid their fair share to access the Internet - where "Internet" takes the pipes and all the content as one unified entity. Even though it's not literally (as in, legally incorporated as a single entity) unified, it obeys the logic of a single system for the end user. We pay for the Internet and we get the dialtone and we get the content. Only, the dialtone providers keep all the money - not for any logical or legitimate reason, solely because they occupy a certain gatekeeping position on the "superhighway."

Just as corporate control of news organizations has eviscerated the very idea of what news is, as Greenwald so eloquently notes here, so the health insurance industry has so polluted our notion of sociality that it does not seem self-evident to many US citizens, including Max Baucis and roughly 40 Republican Senators, that healthcare is a right that must be available to all.

So too Adam Arvidsson in The Ethical Economy is making the case that branding has changed the nature of the economy, from one of production to one of finance. The moment you move from the product to the financing of the product, you have the desire for HUGE BRAND. Only, hugebrandness, like Lehman Brothers' credibility, is mere rumor of value, distinct from all use. If you have Huge Brand as a journalist, say Greenwald and Lewis Lapham, you are probably as corrupt as the day is long.

The point is, it is our health, and our Internet, that should be at the center - not the financing of healthcare, or the financing of content. The corporate infrastructure makes miching mallecho of the argument's inherent logic before it can begin, because the corporate structure of media and the corporate structure of healthcare are entirely alike (indistinguishable plasmids?). Both are wealth creation centers that, like Ron Suskind's famously anonymous worldbeater, create their own reality -- which the reality-based rest of us are permitted to report on, consume, and bewail.


Study for Raft of the Medusa*

*h/t for image to Juke aka Informant38 aka dirty beloved.

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Wednesday, September 17, 2008

AIG and Big Think

When times on Wall St. are tough (and moral hazard seems again missing in action) one turns to experts, knowledgeable sources:
AIG Will Be Headed by Ex-Allstate CEO Edward Liddy, Person Says 
The story was soon updated to eliminate that infelicity. For the record, that was not someone named John or Sylvia Person:
American International Group Inc., the insurer that was saved by the U.S. government, will be run by former Allstate Corp. Chief Executive Officer Edward Liddy, a person familiar with the takeover said.
Curious to learn more about our new CEO - (we own it now, right?) -- we turn to Big Think, which purports to offer ideas by experts. There we find "Ideas by Edward Liddy":


Big Think is still in beta. Mr. Liddy, we hope to think, is not. Here's his sole Big Thunk so far. Interestingly, it begins:
No two leaders and no two companies are alike. In different settings and in different times, we all face very different challenges. Sometimes for example, CEOs are called upon to turn a company around, rescue a business that's failed or is failing.
Update: Mr. Liddy, formerly head of Allstate Corp., gets pat on head from WSJ.

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Monday, September 15, 2008

Blind man's roulette

"We've re-established 'moral hazard,'"

A person involved in the Lehman talks this weekend offered that breathtaking analysis to the (Murdockal) Wall St. Journal, which repeated it soberly -- a tidbit in its massive coverage of Wall Street in Crisis.

This bloodletting is the cure. The crisis began back in 2000, when Bush/Cheney got elected. Soon after, the regulatory framework - what was left of it -- took a barrelful of buckshot in the face, and people without homes, money, or jobs were buying property and discovering the joys of home equity.

An isolating, maverick, insensate war does not go together with lower taxes and tsunamic mortgage fraud (or, "overtrust" as suggested by someone on the WSJ's "Deal Journal"). The people who re-sent in the clowns in 2004 still do not see this. When Bush & co. bribed middle-class favor by tacitly giving USians freedumb to do anything, say anything, promise anything to one another in the business arena so long as the admin had a blank check to keep shooting people in the Middle East, we as a polity forfeited any claim to "moral hazard."

Should this sort of vision lead not to a dethronement of Bush, but to a sort of sublimation of his lunacy into President Palin, the USian game of "fool me a million times - fool me more fool me more fool me" will have risen to its greatest challenge.

Glimmer.

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