Friday, May 25, 2007

Disturbing News From Wall Street

Disturbing to me anyway. What Happens on Wall Street stays on Wall Street? (Unless you are one of the poor folks harmed by non-transparent financial systems and don't know where to trace it back to...)

From the WSJ:

Goldman Sachs Group Inc. ranks as the most profitable securities firm on Wall Street -- reflecting its mastery of trading on the world's public markets.

Now Goldman is turning that franchise on its head, creating its own private system to trade the stocks of companies that don't want the scrutiny and regulatory burdens of going public.

The new system, GS TRuE -- short for Goldman Sachs Tradable Unregistered Equity -- was announced two weeks ago and made its debut on Monday with an $880 million sale of a 15% stake in Oaktree Capital Management LLC, an alternative-investment manager.

Tuesday, May 22, 2007

Prisons or schools

With California poised to spend more on prisons than on schools for the first time in state history, I thought it a good time to debunk that old left-wing talking point about choosing between prisons or schools.

As the San Quentin website tells us, you can have prison and school. Indeed, here are just a few of the possible opportunities you will have once you enroll in its exciting combination of practical training with liberal arts (Religion, Languages) education:
  • PIA: Furniture manufacturing, mattress manufacturing.

  • Vocational: Dry cleaning, electrical, graphic arts and printing, landscaping, machine shop, plumbing, sheet metal.

  • Academic: Adult Basic Education, High School/GED, Pre-Release, English as a Second Language, Literacy Program.

  • Other: Community Service Crews, Youth Diversion, Religious, Arts in Corrections, Victim Awareness, Drug Treatment/Diversion, Joint Venture, Computers for Schools, Eyeglass recycling, Bicycle repair.

San Quentin has some 5000 "students," each on an individually costumized track, and with some 2000 staff and adminstrators, you know that you will not be neglected.

I also see that Arnold is bringing out a new license plate with the DMV: "California: The Prison and Education State."

Seriously, what the hell is wrong with this state? (Answer: Republicans, Lobbyists, Media, Democrats--in that order.)

Sunday, May 20, 2007

Let it be known:

Let it be known that there is no nation so poor, so desperate, so direly in need of help that the United States cannot hinder its development.