Saturday, May 19, 2012

Mitt Romney ~ Bully Boy of Cranbrook


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Commentary on Mitt Romney's school days at Cranbrook, a posh prep school in Michigan, back when he was a wealthy white-privileged teenage bully who attacked people with scissors.

From the original Washington Post Story by Jason Horowitz:
John Lauber, a soft-spoken new student one year behind Romney, was perpetually teased for his nonconformity and presumed homosexuality. Now he was walking around the all-boys school with bleached-blond hair that draped over one eye, and Romney wasn’t having it.

“He can’t look like that. That’s wrong. Just look at him!” an incensed Romney told Matthew Friedemann, his close friend in the Stevens Hall dorm, according to Friedemann’s recollection. Mitt, the teenage son of Michigan Gov. George Romney, kept complaining about Lauber’s look, Friedemann recalled.

A few days later, Friedemann entered Stevens Hall off the school’s collegiate quad to find Romney marching out of his own room ahead of a prep school posse shouting about their plan to cut Lauber’s hair. Friedemann followed them to a nearby room where they came upon Lauber, tackled him and pinned him to the ground. As Lauber, his eyes filling with tears, screamed for help, Romney repeatedly clipped his hair with a pair of scissors.
And then there's this:
One venerable English teacher, Carl G. Wonn­berger, nicknamed “the Bat” for his diminished eyesight, was known to walk into the trophy case and apologize, step into wastepaper baskets and stare blindly as students slipped out the back of the room to smoke by the open windows.
. . . As an underclassman, Romney accompanied Wonnberger and Pierce Getsinger, another student, from the second floor of the main academic building to the library to retrieve a book the two boys needed. According to Getsinger, Romney opened a first set of doors for Wonnberger, but then at the next set, with other students around, he swept his hand forward, bidding the teacher into a closed door. Wonnberger walked right into it and Getsinger said Romney giggled hysterically as the teacher shrugged it off as another of life’s indignities.

~~~~~~~~~~~~~~~~~~~~~~~~~~

I’m not going to be too concerned about their piece they talk about the fact that I played a lot of pranks in high school and they describe some that well you just say to yourself, back in high school well I did some dumb things and if anybody was hurt by that or offended obviously I apologize but overall high school years were a long time ago...
~ Mitt Romney, quoted by ABC News

I don’t remember that incident and I’ll tell you I certainly don’t believe that I, I can’t speak for other people of course, thought the fellow was homosexual. That was the furthest thing from my mind back in the 1960s, so that was not the case. But as to pranks that were played back then, I don’t remember them all, but again, high school days, if I did stupid things, why I’m afraid I got to say sorry for it.
~ Mitt Romney, quoted by the Washington Examiner


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Yo, Romney, like Eminem said: “F*** Cranbrook.
~ Mother Jones Tumblr

On multiple occasions over the last year, Romney has shown a tendency to dodge, weave, parse or deny in such a way that it outweighs the original offense. It’s his weasel problem, a real character flaw.
. . . what Romney seems to be implying — that bullying of effeminate-seeming boys didn’t happen in prep schools in the 1960s — is preposterous.
~ Timothy Egan in a NYT's Op-Ed entitled Romney's Weasel Problem

I think it’s worth noting that the framing of the Post story—the suggestion that Romney and the others picked on this schoolmate because they thought he was gay—is anachronistic. In spring 1965 long hair was associated with surfers (the Beach Boys had their first national hit record in 1964) and the Beatles (who made their first U.S. appearance in January 1965). And hair length was a big issue in the 1960s. Men of the World War II generation, who had memories of military short haircuts, took umbrage when teenagers left their hair grow, and fathers would badger their sons to get haircuts.
~ Fellow Cranbrook Alumnus Michael Barone
 
The Post reported that the abused boy was ultimately expelled from Cranbrook—for smoking a cigarette. Really. The victim got expelled for smoking a cigarette, but Mitt faced no sanctions for maliciously victimizing a vulnerable student and a teacher. It's good to be a prince. Maybe that's why Romney felt entitled to take a $10 million bailout for Bain, but opposed President Obama's bailout of the auto industry. He thinks there's one set of rules for the privileged, and another for the rest of us.
~ Paul Begala on The Daily Beast

What I see is an opportunity for Mitt Romney to lead and really be an advocate for decreasing bullying. It’s sad to hear what occurred many years ago characterized as ‘pranks’ and ‘horsing around.’ We’re no longer conformable with the notion of describing bullying as ‘kids will be kids.’ This was a presidential moment, and this should be a teachable moment for him.
~ Lee Hirsch, the director of “Bully”, a new documentary that focuses on bullying in U.S. schools, in a phone interview with TPMemo

Imagine holding someone down on the ground against their will. Imagine raising scissors to their head because you didn’t like the style of their hair. Imagine cutting the hair while the boy or girl beneath you struggled to get free. Is she crying? Is he? Is this a moment you could forget? Once you had matured would you want to? In the best scenario, a lesson is learned and behavior changed; in the worst, the behavior is rationalized and outwardly forgotten, finding rest in the dark recesses of the soul.
~ Tim Durnin, Santa Barbara Noozhawk











Monday, May 14, 2012

JP Morgan Bank Losses in the Billions from Sketchy Hedge Trading

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We made a terrible, egregious mistake...There's almost no excuse for it...We got very defensive. And people started justifying everything we did.
~ CEO of JP Morgan, Jamie Dimon, on NBC's Meet the Press













Jamie Dimon, the head of it, is one of the smartest bankers we got, and they still lost $2 billion and counting....We don't know all the details," Obama said. "It's going to be investigated, but this is why we passed Wall Street reform.
~ President Obama on The View

Jamie Dimont Put in the Rough
~ Headline on Boston Herald

It’s no secret that bankers have been feeling the wrath of an angry public—although nowhere near as much wrath or anger as the situation demands. They kept a low profile for a while, garaging their Lamborghinis and keeping the big watches in the sock drawer. But like penny-ante crooks who ignore warnings not to flash their money around after a heist, they are what they are. And everything, from multi-million-dollar duplexes to oceangoing yachts and NetJets accounts, is back on display.
~ From an article called "Dimon in the Rough" on VanityFair.com

If we are going to define this trade as a hedge, then there is no other conclusion to reach except that everything at a huge bank is a hedge.
And once you define everything as a hedge, well then, nothing is a hedge.
~ Barry Ritholtz on The Big Picture Blog

You liberals need to get out of the way, u don't understand capitism (sp)
~ Huffpost Super User Oppose Obama (who cannot spell)

What is capitism, brainwave? We DO understand fraud and malfeasence.
~ Celiene on Huffpo in response to Oppose Obama

Why is this a left vs. right problem? How can anyone think we don't need tighter regulation?
~ comment by Jaguar Man on Huffington Post

That is what Jamie Dimon has said. He says it’s stupid and sloppy but we’ll fix it. So stay away. But what if the next loss is $20 billion or $200 billion? Is he saying JP Morgan should be entitled to continue to take these bets right up until the day it lands in the taxpayers lap again?
...That’s the strongest argument for a modern Glass-Steagall. Glass-Steagall said in effect that hedge funds should be separated from commercial banking. If a big institution wants to go out and play in the market, that’s fine. But it doesn’t get the backup of the federal government. If it’s too complicated to implement the Volcker rule, do you say we give up and let the largest financial institutions do what they want? Or do you say maybe that’s the reason we need a modern Glass-Steagall?
~ Senate candidate Elizabeth Warren (D-MA) to Ezra Klein of Washington Post



Banks have been loading up on risk and they don't want to be accountable. Jamie Dimon not only is CEO of JP Morgan Chase, he holds this position of public trust, advising the New York Fed. on how to regulate risk for these large financial institutions, like his own finanicial institution.
It's not just conflict of interest, it's a real point about attitude here. This isn't personal to Jamie Dimon. It's what's been going on ever since Dodd-Frank passed. There's been a guerrilla war out there in which the largest financial institutions have been doing everything they can to make sure that financial regulations don't get put in place. And if they do get put in place, that they're loaded with loopholes and not very effective. There's been a lobbying army hired by these financial institutions becasue they really don't want to have any oversight. They want to take on risks however they want to take on risk and let the rest of us bear the consequences...
~ Elizabeth Warren on CNN's Starting Point