Monday, September 29, 2008


Here's another email I got from an imaginary friend.

You are The Boss... which team would you hire?

With America facing historic debt, multiple war fronts, stumbling health care, a weakened dollar, all-time high prison population, skyrocketing Federal spending, mortgage crises, bank foreclosures, etc. etc., this is an ***unusually critical*** election year.

Let's look at the educational background of your two options:

Occidental College - Two years.
Columbia University - B.A. political science with a specialization in international relations.
Harvard - Juris Doctor (J.D.) Magna Cum Laude

University of Delaware - B.A. in history and B.A . in political science.
Syracuse University College of Law - Juris Doctor (J.D.)


United States Naval Academy - Class rank 894 of 899

Hawaii Pacific University - 1 semester
North Idaho College - 2 semesters - general study
University of Idaho - 2 semesters - journalism
Matanuska-Susitna College - 1 semester
University of Idaho - 3 semesters - B.A. in journalism
(verified through Anchorage Daily News 1981-1987. 5 schools in 6 years!

Now, which team are you going to 'hire'?


The Phantom said...

I'll hire the team that wasn't on Tony Rezko's payroll

Mark said...

Phantom, completely off subject, what the hell happened to the Mets!?

Mark said...

So you didn't hire George W. Bush?

"Rezko also works both sides of the political fence. He co-chaired a mega-million-dollar fund-raiser for President Bush in 2003."

The Phantom said...

Sore subject!!

Weak bullpen and not enough take charge hitters.

Very sad to see them go out this way.

And I am one who will miss the big Shea also.

The Phantom said...

I actually voted against GW Bush in the 2000 Republican primary. Voted for McCain then!

Mark said...

Yeah, total meltdown from the pen.

I'm very sad to see them go out that way as well. And we had tickets to the first home Division Playoff game.

I won't miss Shea that much. My memories of the place are not being very close to the field and RC cola.

The Phantom said...

My favorites ( which I will write about )

catching a foul ball of the bat of Donn Clendenon

Seeing the Yankees play there for two years

Sneaking into a game once

Buying beers in the upper deck when underage

Rob K said...

I'll hire the team that doesn't have Phil "Nation of Whiners" Gramm.

As the master deregulator who helped create the current financial meltdown, old Phil is a bigger threat than Tony Resko will ever be.

Team McCain wants him to be the next secretary of the treasury, so that's why I'm going to hire Obama and Biden.

Anonymous said...

Good to see Phantom's adolescent musings aren't just restricted to foreign policy and issues of local preservation. Must be nice to wake up everyday to a world where everything's wrapped with a nice little bow.
Phantom's to do list:

Tear down citi filed because old Shea makes me feel better about myself.

Save Green Church by letting 30 Methodists shoulder financial risk of shaky preservation deals because it makes me feel good.

Continue rewarding 8 yrs worth of failed economic and foreign policy by electing the heir to the greatest failure in American presidential history since Warren Harding because McCain and Palin make me feel good.

The Phantom said...


You may want to look into the activities of Barney Frank and Chris Dodd and the Democrats re Fannie and Freddy and the Commmunity Reinvestment Act and at how attempts to deal with Fannie and Freddy were stymied by that mob.

You guys own part of this pig, too. A big part.

LEE_HO_FOOK said...

'You guys own a part of this pig... a big part?'

Phantom, why do you talk like a fortune cookie?

sense and sensibility said...

Phantom, you may want to spend less time listening to talk radio, and more time reading an actual business journal or two.

The idea that a lending crisis created from 2004 to 2007 was caused by a 1977 law is silly. But it’s even more ridiculous when you consider that most subprime loans were made by firms that aren’t subject to the CRA. University of Michigan law professor Michael Barr testified back in February before the House Committee on Financial Services that 50% of subprime loans were made by mortgage service companies not subject comprehensive federal supervision and another 30% were made by affiliates of banks or thrifts which are not subject to routine supervision or examinations.

Not surprisingly given the higher degree of supervision, loans made under the CRA program were made in a more responsible way than other subprime loans. CRA loans carried lower rates than other subprime loans and were less likely to end up securitized into the mortgage-backed securities that have caused so many losses.

keep in mind that the Bush administration has been weakening CRA enforcement and the law’s reach since the day it took office. The CRA was at its strongest in the 1990s, under the Clinton administration, a period when subprime loans performed quite well. It was only after the Bush administration cut back on CRA enforcement that problems arose, a timing issue which should stop those blaming the law dead in their tracks. The Federal Reserve, too, did nothing but encourage the wild west of lending in recent years. It wasn’t until the middle of 2007 that the Fed decided it was time to crack down on abusive pratices in the subprime lending market. Oops.

Better targets for blame in government circles might be the 2000 law which ensured that credit default swaps would remain unregulated, the SEC’s puzzling 2004 decision to allow the largest brokerage firms to borrow upwards of 30 times their capital and that same agency’s failure to oversee those brokerage firms in subsequent years as many gorged on subprime debt.

Rob K said...

And McCain's mouthpiece still won't rule out Gramm as treasury secretary in a McCain administration.