Comments on: Beer in the mail room http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/ Just another Pajamasmedia.com weblog Thu, 26 Nov 2009 17:01:33 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Jacob Orslup http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-15879 Jacob Orslup Tue, 07 Oct 2008 04:59:13 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-15879 The previous post was not posted by Jacob but by a drunk room mate. All post are good points and respected by me. Sincerly, Jacob The previous post was not posted by Jacob but by a drunk room mate. All post are good points and respected by me. Sincerly, Jacob

]]> By: Jacob Orslup http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-15876 Jacob Orslup Tue, 07 Oct 2008 04:49:41 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-15876 Regardless of anything else. He is also a nigger. Regardless of anything else. He is also a nigger.

]]> By: WebElf Report Blogroll News « The WebElf Report http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-13231 WebElf Report Blogroll News « The WebElf Report Mon, 22 Sep 2008 17:41:01 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-13231 [...] TELLING SPIRITUAL TALES: “Beer in the mail room” …. [...] [...] TELLING SPIRITUAL TALES: “Beer in the mail room” …. [...]

]]> By: gbnyc http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-12678 gbnyc Thu, 18 Sep 2008 01:50:52 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-12678 an apartment in '81: maybe 4-500 dollars, two months rent up front and the first month- let's say $350/month to argue, that's 1050 dollars- maybe one month up front and first month, that's 700 dollars, when hotshot bartenders were doing 400 a week. landlords can't really turn off the heat in one apartment, they have to kill it in the whole building because it's steam heat off a boiler in the basement. it's really, really, really against the law to turn off the heat in rental buildings in nyc- there's a number to call if it happens, and the city sends a guy down who doesn't have to take a half ounce of s*** off anybody. the heat can't even be lowered, on a timer, etc. there are definite laws, simple and direct, concerning heat. I lived in a building where every fall someone slipped the number of the city "heat police" under everyone's door in case the landlord got cute with the heat. and this guy was/wanted to be a lawyer? an apartment in ‘81: maybe 4-500 dollars, two months rent up front and the first month- let’s say $350/month to argue, that’s 1050 dollars- maybe one month up front and first month, that’s 700 dollars, when hotshot bartenders were doing 400 a week.

landlords can’t really turn off the heat in one apartment, they have to kill it in the whole building because it’s steam heat off a boiler in the basement.

it’s really, really, really against the law to turn off the heat in rental buildings in nyc- there’s a number to call if it happens, and the city sends a guy down who doesn’t have to take a half ounce of s*** off anybody. the heat can’t even be lowered, on a timer, etc. there are definite laws, simple and direct, concerning heat. I lived in a building where every fall someone slipped the number of the city “heat police” under everyone’s door in case the landlord got cute with the heat.

and this guy was/wanted to be a lawyer?

]]> By: slade http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-12528 slade Wed, 17 Sep 2008 05:21:05 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-12528 <i>This country needs a shareholder revolution to effect a change in corporate governance.</i> Compliance is missing the long tooth of the warrior spirit. Or something to that effect. This country needs a shareholder revolution to effect a change in corporate governance.

Compliance is missing the long tooth of the warrior spirit.

Or something to that effect.

]]> By: weSwinger http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-12487 weSwinger Tue, 16 Sep 2008 22:15:27 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-12487 To respond on the financial sub-thread: In technical terms, the problem with Wall Street is that they have been hypnotized by powerful mathematical tools. (Financial engineering.) These tools made managers believe that they could inoculate bundles of similar securities from risk by aggregating enough of them. They assumed that the default risk on each mortgage was independent of the other, and that that risk assumed the profile of the "normal" curve. And because this bundling was so effective, you could use leverage (more debt) to magnify the earnings to reach a desired target. This is where Nasim Taleb's Black Swan swims in. . .we find that the default risks were actually highly correlated, the diversification only worked during a stable or better, a rising market, and the financial contagion spreads. . . In less technical terms you have the ivy league elite in the highest reaches of business and government sitting on each others' boards, paying each other princely sums for each others' good opinions. "Similarly situated actors would have behaved the same", and instead of going to jail they keep the princely bonuses and go on to ruin some other business. Because the owners of bank deposits are not panicking and because not all people are selling into a panicking stock market, the US economy may not crash at this time. There is no long term fix in more regulation, the ivy leaguers and financial engineers will find a way around regulations. This country needs a shareholder revolution to effect a change in corporate governance. To respond on the financial sub-thread: In technical terms, the problem with Wall Street is that they have been hypnotized by powerful mathematical tools. (Financial engineering.) These tools made managers believe that they could inoculate bundles of similar securities from risk by aggregating enough of them. They assumed that the default risk on each mortgage was independent of the other, and that that risk assumed the profile of the “normal” curve. And because this bundling was so effective, you could use leverage (more debt) to magnify the earnings to reach a desired target. This is where Nasim Taleb’s Black Swan swims in. . .we find that the default risks were actually highly correlated, the diversification only worked during a stable or better, a rising market, and the financial contagion spreads. . .

In less technical terms you have the ivy league elite in the highest reaches of business and government sitting on each others’ boards, paying each other princely sums for each others’ good opinions. “Similarly situated actors would have behaved the same”, and instead of going to jail they keep the princely bonuses and go on to ruin some other business.

Because the owners of bank deposits are not panicking and because not all people are selling into a panicking stock market, the US economy may not crash at this time. There is no long term fix in more regulation, the ivy leaguers and financial engineers will find a way around regulations. This country needs a shareholder revolution to effect a change in corporate governance.

]]> By: programmer http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-12482 programmer Tue, 16 Sep 2008 21:41:13 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-12482 Great discussion. Great discussion.

]]> By: NahnCee http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-12475 NahnCee Tue, 16 Sep 2008 20:47:52 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-12475 Muy bueno. We'll just chalk it up to greed and stupidity and hunker down then until it all blows over. Muy bueno. We’ll just chalk it up to greed and stupidity and hunker down then until it all blows over.

]]> By: slade http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-12432 slade Tue, 16 Sep 2008 17:42:54 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-12432 NahnCee: <i>So, maybe, if China (for example) wanted to <b>mess with America’s culture</b>...</i> I missed the subtle change in your argument. How very Gramscian of "them". I have taken this so far into left off-topic field that I will not develop this thought too much other than to say that I encourage them to continue along the path of cultural mitigation, if that is the Agenda. This country has homes and various multi-step programs for recovering delusionals (them not you). Penetrating American culture is a Herculean task that would require more than a few bank failures. It is my opinion that the enormous flexibility of American society and institutions is a causative factor in the sanguine attitude that allowed this situation to develop. Can't happen Here. Or Today. NahnCee: So, maybe, if China (for example) wanted to mess with America’s culture…

I missed the subtle change in your argument. How very Gramscian of “them”.

I have taken this so far into left off-topic field that I will not develop this thought too much other than to say that I encourage them to continue along the path of cultural mitigation, if that is the Agenda. This country has homes and various multi-step programs for recovering delusionals (them not you). Penetrating American culture is a Herculean task that would require more than a few bank failures. It is my opinion that the enormous flexibility of American society and institutions is a causative factor in the sanguine attitude that allowed this situation to develop. Can’t happen Here. Or Today.

]]> By: slade http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/comment-page-2/#comment-12427 slade Tue, 16 Sep 2008 17:26:29 +0000 http://pajamasmedia.com/richardfernandez/2008/09/14/beer-in-the-mail-room/#comment-12427 There’s a reason I have no second career at comedy central where blowing punchlines is an <b>morale</b> hazard. I meant to say. There’s a reason I have no second career at comedy central where blowing punchlines is an morale hazard.

I meant to say.

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