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Member since: Fri Sep 17, 2004, 03:59 PM
Number of posts: 67,616

Journal Archives

Oh Boo Hoo Hoo: “People who don’t have money don’t understand the stress”

Wall St. Bonus Drop Means Trading Aspen for Discount Cereal


Schiff, 46, is facing another kind of jam this year: Paid a lower bonus, he said the $350,000 he earns, enough to put him in the country’s top 1 percent by income, doesn’t cover his family’s private-school tuition, a Kent, Connecticut, summer rental and the upgrade they would like from their 1,200-square-foot Brooklyn duplex.

“I feel stuck,” Schiff said. “The New York that I wanted to have is still just beyond my reach.”

The smaller bonus checks that hit accounts across the financial-services industry this month are making it difficult to maintain the lifestyles that Wall Street workers expect, according to interviews with bankers and their accountants, therapists, advisers and headhunters.

People who don’t have money don’t understand the stress,” said Alan Dlugash, a partner at accounting firm Marks Paneth & Shron LLP in New York who specializes in financial planning for the wealthy. “Could you imagine what it’s like to say I got three kids in private school, I have to think about pulling them out? How do you do that?”…


Santorum lost decisively among Catholic voters to a Mormon bishop.

What also is obvious is the fact that Rick Santorum blew his main chance over the past couple of weeks, primarily by being a colossal dick, and have I mentioned recently what a colossal dick he is? He couldn't resist a chance to let his freak flag fly on the proper use of other people's ladyparts and on his peculiar vision of what the separation of church and state actually means. He picked a fight with John F. Kennedy on the latter issue, which may be the most singularly stupid thing I've seen a candidate do in 50 years. And last night, after spending a month channelling Pius XII, according to the exit polls, he lost decisively among Catholic voters to a Mormon bishop. This proves three: one, that there is no such thing as a "Catholic vote"; two, that the Catholic laity remains completely convinced that contraception is their own damn business and that the clan of the red beanie should butt out of it; and three, that picking on the sainted Jack Kennedy (God be good to him) is generally considered far more mortal a sin than using the Pill is. Santorum could have avoided all of these unforced errors, but that would require that he not be a colossal dick, and you might as well expect to see Willard Romney on stage with Parliament-Funkadelic.

Read more: http://www.esquire.com/blogs/politics/michigan-primary-results-6975149#ixzz1nmcyRoFE

Goldman manager investigated for insider trading role: report

Goldman manager investigated for insider trading role: report

Wed Feb 29, 2012 9:06am EST

(Reuters) - Federal authorities are investigating David Loeb, a managing director of Goldman Sachs Group Inc, as part of an insider trading probe focusing on technology stocks and the company's hedge fund clients, the Wall Street Journal reported on Wednesday, citing people close to the matter.

Loeb, 41, would be the latest Goldman official to be investigated after Rajat Gupta, a former Goldman director, who faces trial in May for insider trading. Goldman technology analyst Henry King is also under investigation, the WSJ reported.

Loeb, who deals with many technology hedge fund employees, worked closely with King, the paper said citing the sources. Documents filed in the case against Gupta referenced an insider at Goldman other than Gupta who provided inside information to a hedge fund client. That person is said to be Loeb, the WSJ reported.


On Monday during a press briefing, the FBI said to date, out of 64 arrests made in "Perfect Hedge," the name given to the investigation, 59 people have been convicted or have pleaded guilty.


Republican Strategist: "It Feels Like A Political Death March."

“This is going to be a long, drawn-out marathon. It feels like a political death march.”

"Everyone can breathe a sigh of relief and Romney gets a little momentum heading into next week, but it doesn't change much," Republican strategist Ron Bonjean said. "This is going to be a long, drawn-out marathon. It feels like a political death march."

much more:

THANK YOU, George Clooney!

Bill O’Reilly lackey Jesse Watters: “Is Obama doing a good job?”

George Clooney: “Yes, he is. He’s the president of the United States. He’s not Obama. He’s the president of the United States.”

via: brooklynmutt

THANK YOU, George Clooney!


Abstinence Only Sex Ed

This belongs in an art museum


Wikileaks emails indicate Stratfor discovered Israel already destroyed Iran’s nuclear facilities

Wikileaks emails indicate Stratfor discovered Israel already destroyed Iran’s nuclear facilities


In one of the over five million emails leaked, the conversation centered on Israeli Defense Minister Ehud Barak praising the news of deadly munitions blasts at a base of Iran’s elite Revolutionary Guards.

“I think this is a diversion. The Israelis already destroyed all the Iranian nuclear infrastructure on the ground weeks ago,” one intelligence official wrote in an email dated November 14, 2011. “The current ‘let’s bomb Iran’ campaign was ordered by the EU leaders to divert the public attention from their at home financial problems. It plays also well for the US since Pakistan, Russia and N. Korea are mentioned in the report. ”

One other Stratfor official allegedly indicated a similar finding.

“Israeli commandos in collaboration with Kurd forces destroyed few underground facilities mainly used for the Iranian defense and nuclear research projects,” he wrote on November 13, 2011. “Even if the Israelis have the capabilities and are ready to attack by air, sea and land, there is no need to attack the nuclear program at this point after the commandos destroyed a significant part of it.

the rest:

White Privilege On Steroids. Smith College Alum's Letter "Too Many Lesbians and Women of Color"

TUE FEB 28, 2012 AT 10:59 AM PST
White Privilege On Steroids. Smith College Alum's Letter "Too Many Lesbians and Women of Color"
byVita BrevisFollow


Anne, a Smith alum (Class of '84) is quite undone about her alma mater's current desirability as the college of choice for students in her social circle. I'm going to print Anne's letter to the college paper in its entirety. I believe it complies with fair use standards since it's a letter, and has been published in its entirety several other places.

To the Editor,
I am the president of the Smith Club of Westchester County. I enjoy reading the Sophian online because it helps me stay abreast of developments at the school.


The people who are attending Smith these days are A) lesbians or B) international students who get financial aid or C) low-income women of color who are the first generation in their family to go to college and will go to any school that gives them enough money. Carol emphasizes that this is one of her goals, and so that's why the school needs more money for scholarships or D) white heterosexual girls who can't get into Ivy League schools.

Smith no longer looks at SATs because if it did, it would have to report them to U.S. News & World Report. Low-income black and Hispanic students generally have lower SATs than whites or Asians of any income bracket. This is an acknowledged fact because they don't have access to expensive prep classes or private tutors.

To accomplish President Christ's mission of diversity, the school is underweighting SAT scores. This phenomenon has been widely discussed in the New York Times Education section. If you reduce your standards for grades and scores, you drop in the rankings, although you have accomplished a noble social objective. Smith has one of the highest diversity rates in the country.

I can tell you that the days of white, wealthy, upper-class students from prep schools in cashmere coats and pearls who marry Amherst men are over. This is unfortunate because it is this demographic that puts their name on buildings, donates great art and subsidizes scholarships.

-Anne Spurzem '84


WHICH MAKES MORE SENSE? (Hint: It’s not for the money.)

If you’re capable of critical thought, your first response when you hear about green nonprofits and climate scientists engaging in a vast worldwide conspiracy is probably not “oh no!” but “why in the world would they bother?” (Hint: It’s not for the money.) Via Brooke Jarvis on Twitter, here’s a graphical representation of why the opposite hypothesis kinda makes a lot more sense.

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