Saturday, May 17, 2008

Crashing the system II

I'm happy to see (via M. Thoma) that those who are crashing the systems are at least not making quite as much money.

Change is in the air for financial superclass, by David Rothkopf, Commentary, Financial Times: ...The re-engineering of international finance has been one of the transformational trends of our times – in just a quarter-century, capital flows became massive, instantaneous and controlled by a new breed of traders representing a handful of major financial institutions from a few countries. Their rewards have transcended any in history as shown by an estimate ... that the top hedge fund manager last year made $3bn.

The concentration of power has also steadily grown..., the key executives are in the US and Europe, underscoring the transatlantic nature of this elite. Change, however, is in the air. The history of elites is one of their rising up, over-reaching, being reined in and supplanted by a new elite. Several recent developments suggest that the financial crisis could signal the high-water mark of power for this group.

First, the crisis is prompting a re-regulatory drive. The power of financial elites had been evident in their ability to argue that global financial markets and markets in new securities should remain “self-regulating” (how many of them would hop into a self-regulating taxicab?), then when crisis comes ... these champions of less government involvement have then persuaded governments to cauterise their wounds.

Now, however, there are encouraging, if preliminary, signs of a push towards more effective collaboration between governments – the first steps towards creating the much needed checks on global markets... This could erode the agility of financial elites to play governments off against each other, with the weakest regulator setting the rules.

Checks on markets? Gosh, I wish someone had thought about that before.

Friday, May 16, 2008

Draft.Blogger: Dear Blogger

Dear Blogger,

When you post this, I'll be gone. Don't look for me because I'll be far away.

I won't forget you, but know that sometimes I need my freedom.

See you soon.

Wednesday, May 14, 2008

Roadkill Wednesday™

Vicke och döden
Originally uploaded by ida katari
If you noticed my blog entry yesterday with the beautiful and haunting dead bird, you probably know that sometimes I get disappointed with myself and, well, let's be honest, others. When I have a bad day, I usually blog the dead bird. It's symbolic of the death of innocence. My theory is that innocence never completely dies (and doesn't really exist, but that's another story), it just dies a little bit at a time.

In that tradition, I'm starting Wednesday Roadkill Blogging™. Roadkill happens to the little canaries and to the largest and most fearsome beasts. It is any combination of the following: sideswiping, crushing, flattening, deflating, splatting and crippling. It occurs both night and day, and may involve the complete awareness of the victim (the proverbial "deer in the headlights") or come as a total surprise.

In this vein, I will try to post tasteful pictures of roadkill. This is not an attempt to be gruesome or nonchalant about death. On the contrary, I really wish it didn't happen, especially to the innocent. But it does.

Think of this as therapy.
Think of this as homage.
Think of this as honesty.
Think of this as the highway.
Think of this as a mash-up.
Think of this as art.
Think of this as life.

Wednesday Roadkill Blogging™
"Because there is death on the highway of life."

Says it all...

One Boring Old Man:

As my father was known to repeat endlessly, "I don’t mind you peeing in my boot, but don’t tell me it’s water."

Tuesday, May 13, 2008