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"The Showdown"

4/10/2015

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Off the expressway formed an investigation of a Central Florida investment advisor and Metro Orlando’s road building agency.  The SEC investigates whether the G-38 rule was violated, whether a middleman was paid to obtain or retain business.  Subpoenas were delivered in January 2015 to the parties of interest.  The investigation evolved after former members of the Orlando-Orange County Expressway Authority were found guilty of bribery in 2013.  Determining the meaning of this violation is about as blurry as double road lines. 

Over the river from the SEC’s Manhattan Office, an investigation was launched against Chris Christie in 2014.  This investigation had nothing to do with the traffic he held up, but rather the funds he diverted from Port Authority to New Jersey roadways.  Now a year later, there is no news on the outcome of the investigation.  Determining how such an investigation affects his possibilities for a 2016 presidential campaign is a bit foggy.

Through the “broken window” approach, the SEC began prosecuting minor offenses with the theory that stopping the small violations will deter white-collar criminals from engaging in large-scale fraudulent activity.  (Stoltmann, 2014)

Off the floor trades are the focus of a newly proposed amendment, which would require these high frequency traders become a member of a national securities association.  This would require a floor trader to assist with off-exchange orders under the theory that on-floor transactions carry less risk.  (Automated Trader, 2015)

Nothing but net is what an inside trader hopes to achieve.  Ex hedge-fund manager Todd Newman was said to have gained illegal profits of 4 million.  The outcome of the controversial case “United States vs. Newman” may make it harder to prosecute those who profit off inside information in the future.  The controversy developed from the definition of insider trading being too broad, since Newman’s 2012 conviction was recently overturned based on “prosecutors had been too aggressive in their interpretation of the law.” (Viswanatha, 2015) This set the stage for others to be free from charges of insider trading.  New rules regarding insider trading, “broken windows,” and off-exchange trading are meant to protect investors.  However, the greater the steps to avoid another economic collapse from financial fraud, the more static there is to keep the line between right and wrong fuzzy.      

Works Cited 
"The Showdown". (1993). Retrieved from Youtube: https://www.youtube.com/watch?v=1shK-j_u6LI
Automated Trader. (2015, 03 25). SEC proposes off-exchange traders join national securities association. Retrieved 04 09, 2015, from Automated Trader: http://www.automatedtrader.net/headlines/153475/sec-proposes-off_exchange-traders-join-national-securities--association
Stoltmann, A. (2014, 12 22). The SEC's "broken windows' strategy is misguided. Retrieved 04 09, 2015, from Pensions&Investments: http://www.pionline.com/article/20141222/PRINT/312229993/the-secs-quotbroken-windows-strategy-is-misguided
Viswanatha, A. (2015, 04 03). Court Decision Foils Insider-Trading Cases. Retrieved 04 09, 2015, from The Wall Street Journal: http://www.wsj.com/articles/court-denies-government-request-to-reconsider-insider-trading-decision-1428077927

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Sure Thing

3/27/2015

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Richard Fisher, who spent a decade as the president of the Dallas Fed, can’t predict the future anymore than the rest of us.  While his opinions often differed from that of his peers, we may be lucky at how often he proved wrong.  At one time, he suggested our economy would see a recovery that didn’t so much resemble a “V”, but rather a “?”.   In the explanation of how it resembles a “?”, it comes down to after a quick fix we turn stagnate.

Mr. Fisher reminded us in his many speeches throughout the years that there is no crystal ball.  He often advised to take any economic forecast with “a grain of salt.”  The one thing that was always clear in Mr. Fisher’s speeches was the level of uncertainty that is always at stake in the economy.  “Even the saltiest of helmsmen cannot confidently navigate a ship in a dense fog.” ("Uncertainty Matters", 2013)


Considering the consequences of the Fed’s stimulus, Mr. Fisher believes that waiting to raise rates will cause a downturn in the economy. He just can’t say when that tomorrow will fall.  “No idea. And I hope my concerns, which are only expressed as uncertainties, prove to be sleep lost and nothing more.” (Appelbaum, 2015) 

The Dallas president discussed his opinions against auditing the Fed and inflation risks on the eve of his retirement from the Fed, closing with, “And now, in the spirit of what every signatory to S. 264 worries about, I’d be happy to avoid answering your questions.” ("Suggestions After a Decade at the Fed", 2015)

There has been a lot of talk in recent years regarding auditing the Fed.  The idea of politicians having their hands in the cookie jar is a scary thought.  Transparency via becoming a politicized Central Bank, wouldn’t that be a sure fire way to make the US a third world nation.  Our house and senate often gets us into these messes, imagine for a second them having greater control over monetary policy.  Speeches filled with vagueness over the last decade are more appealing.      

Richard Fisher retired from the Fed on March 19, 2015.  He wasn’t unemployed long, as he has already joined the Board of Directors for Pepsi Co.

Works Cited 
"Suggestions After a Decade at the Fed". (2015, 02 11). Retrieved 03 27, 2015, from Federal Reserve Bank of Dallas: http://www.dallasfed.org/news/speeches/fisher/2015/fs150210.cfm
"Uncertainty Matters". (2013, 10 03). Retrieved 03 26, 2015, from Federal Reserve Bank of Dallas: http://www.dallasfed.org/news/speeches/fisher/2013/fs131003.cfm
Appelbaum, B. (2015, 3 20). Richard Fisher, Often Wrong but Seldom Boring, Leaves the Fed. Retrieved 3 25, 2015, from New York TImes: http://www.nytimes.com/2015/03/21/business/economy/richard-fisher-leave-the-fed.html?_r=0

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Go for Broke

3/13/2015

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Politicians are halfway done dismantling Labor Unions.  Wisconsin just signed on as the 25th right to work state.  As the middle class becomes smaller, we hope the disappearance of Unions doesn’t mean less pay with harsher work conditions going forward.  Governor Walker ducked out the back door to avoid any press conference regarding the bill he made a law.

Walker may have avoided questions due to it being a complete flip of the values that he ran for governor with.  He made a pledge on Wisconsin public radio in April 2012.  "I have no interest in a right-to-work law in this state." Walker continued with, "We're not going to pursue that in the remainder of our term, and we're not going to pursue it in the future. The reason is private-sector unions are my partner in economic development." (Larson, 2015)

He has clarified his comments in 2012 only applied to his first term as governor, and now is a good time to switch.  Walker is gearing up for a 2016 presidential campaign run.  He may not have announced that he’s running, but his sudden shift in values and policies make him a lead contender for the GOP.  The signing of the “right to work” bill was announced with immediate fundraising emails. 

When you’re a politician, there is never a bad time to talk donations, unless it’s on the taxpayers dime.  In May of 2010, a political scam involving the use of a private router led to the conviction of two of Walker’s aids.  The secret router was set up to assist Walker’s campaign staff and state Representative Brett Davis, throughout the workday with political commentary and fundraising.    

We don’t need to look any further than our government to see the how a dismantled Union affects us all.  United we stand divided we fall couldn’t be more clear than it is in the Senate.  Recent attempts to discredit our Commander in Chief have leaders world wide shaking their heads.  It may not lead to immediate repercussions for this United States, but will not do us any favors if we’re led to war.  Our nation’s leaders are at battle with each other in such a way, they’ve proven incapable of running the nation. 

Works Cited 

Larson, L. (2015, 03 11). Scott Walker keeps changing his mind. Retrieved 02 12, 2015, from Business Insider: http://www.businessinsider.com/scott-walker-keeps-changing-his-mind-2015-3

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March of Time

2/27/2015

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If you’re a tax filer using an erroneous health insurance form, you should have already filed.  An estimated 800,000 ObamaCare participants received 1095-A tax forms that contained a mistake in figuring the tax owed.  While the CMS has requested that these individuals hold off on filing, the IRS estimates 50,000 have already filed.  Those who filed and received credits in error won’t be required to payback if it was in their favor.  Those who lost money by filing the erroneous form can re-file to obtain the larger refund they’re entitled.  For those who hadn’t yet filed, expect your new form sometime in March.    

Don’t think you have to return to the days before we had national insurance, just because Uncle Sam has his hand out.  For those who are receiving a smaller refund than expected, it is because they originally over-estimated what they were entitled and have to give back what they already took in excess.  For those who are concerned about the mandate fee owed, health officials are giving you one more chance to avoid the fee with a special sign up period from March 15 – April 30.  With those two tax concerns behind us, there is one more that is in the Supreme Courts hands.

King vs. Burwell is a case revolving around Affordable Care Act subsidies and will be heard by the Supreme Court March 4, 15.  This is more about the colors of politics than it is about healthcare, but will have a huge impact no matter what the decision is.  The original wording of the Affordable Care Act dictates that states must set up healthcare exchanges within their borders, or the federal government will set up an exchange within the states that fail to do so on their own.  The red herring of the ACA is the wording from section 1401, which allows federal tax subsidies to those who elect insurance established by the state.  Red states are arguing they didn’t establish a health exchange the federal government did, so tax credits shouldn’t be allowed to those who purchased through the exchange in those states.         

Imagine what folks had to go through to establish there was a need for National Health Insurance, but this isn’t about the need for affordable health insurance.  In politics, red usually favors tax credits.  When those tax credits are geared towards folks ranging from poverty to middle class it becomes an issue, as red thinks that would cost the federal government far too much money.     

For anyone who thought “Glad that’s over!” when the Supreme Court originally ruled in favor of the Affordable Care Act, it is a long way from over.  Right now, affordable healthcare is available to you and your family, when you want it.  Whether or not it remains affordable will depend on the outcome of King vs. Burwell. 

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Flaky Bandits

2/13/2015

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In recent news of big bank scandals, paying a fine without acknowledging wrongdoing may become a thing of the past.  The justice department is pushing for 6 big banks involved in a currency scandal to plea guilty to felony charges.  The difference this time is that it is being requested of 2 US banks as well.  However, banks will want assurance before accepting this plea that it won’t pose too costly to operations.  A slap on the hands has been sufficed in the past.  They own the money and control the witness, so why should they plead guilty?     

The idea of monkey with my business and I’ll leave you lonely, trickles down from top level executives to the employees at the core of the problem.  Big banks don’t agree that they should be held liable for some mid-level employees error.  Much like when a parent is blamed for their child’s behavior, these parents of subsidiary companies are trying to claim that their kids have a mind of their own and they’re the ones that should take the fall.  Traders involved in scandal took it upon themselves to decide whether a clients trade was approved, canceling it when the bank profited by the client being left without.    

Big Banks paid these currency prophets to justify the price they were selling for, or the “glitches” as they called those moments of “oops, that transaction was cancelled.”  These currency prophets who were able to foretell the impact of a transaction before it was processed, missed the fact that banking emails and chat rooms are regulated.  Their comments of mocking clients for not understanding what they just did to them, is what will allow criminal charges against individual traders.  They should of saw that coming. 

Those who run these fraud rings may break up banking relationships, but they’ll never destroy Wall Street.  For each bubble they create then pop, someone will always profit as well from the bet of a fall.  Bets on either side of the spectrum is what will always keep Wall Street alive, and the Big Banks running the show in the black.    

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Droning 

1/30/2015

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Since the AFC and NFC championship games, there have been three topics the media can’t get enough of.  Scandals, fines, and what the chunky soup spokesman has to say about these things.  It's a bit boring to consider this is the focus of the two weeks leading up to the Super Bowl.

“Deflate gate” has us questioning if the Patriots can make it to the Super Bowl without cheating?  They’re good enough, but they never let that get in the way of breaking a few rules to gain an advantage.  “Spy gate” is 7 years in the past, another scandal that led to the Patriots being known for a legacy of cheating.  Players of teams that lost the big game to them will always question the legality of their game plan and the air that it holds. 

On the other side of the field we have the running back that’s fined for everything.  Lynch makes clear what’s worth paying a fine for.  He would rather show up and make a complete ass out of himself, repeating one word or phrase in response to all questions rather than take a fine for not speaking to media.  Yet he’ll take a fine every time, just to grab his junk on the field.  With retirement right around the corner, maybe he’s being careful how he spends his money.

Why does the media always chase after Lynch, when there is a Seahawks corner who is never at a loss for words?  Sherman wants us all to know that Brady is not the clean-cut good guy every one sees.  Sherman says he trash talked Brady after their last meeting in 2012, because Brady started it.  Brady claimed he had no idea Sherman was talking trash, but thought he was congratulating him on a good game.  He might need to step it up a notch, if he expects Brady to notice him this Sunday.               

With constant media buzz that rarely varies, you may find it hard to believe Super Bowl XLIX has been declared a “No Drone Zone.”  This theme is spelled out on the field and up in the lights.  We know who the message is really for.  Bill Belichick must know it’s cheating to film the other team with a drone, and being in a “no drone zone” he'd better have another trick up his sleeve.       

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Today Only

1/15/2015

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It’s January, and the GOP is in the House.  Now that they have the power of majority, they’re making it a point to lose some of the Dodd-Frank regulations that were put in place to protect consumers from another financial crisis in the future.  When millionaires control the industry, money plays a greater importance in their minds than the welfare of the people.  The House can’t loosen their reigns on Wall Street quick enough to appease their inner gambler. 

The GOP is determined to replace home signs that only recently came down, with new signs of foreclosure.  When Dodd-Frank passed after the economic meltdown in 2008, the GOP felt that the regulations were taken to far.  According to the House majority, regulations on Wall Street were unnecessary as the housing crash wasn’t that bad.  When they took control this January, they began pushing for immediate reform to the Dodd-Frank bill.    

These magicians are pulling carrots from their hats rather than rabbits.  They squeeze reform to the Dodd-Frank bill into provisions of must pass bills such as the recent terrorism-insurance bill that passed Jan. 8.  These “today only” must pass bills may eventually dilute the Dodd-Frank law to the point it doesn’t serve it’s original purpose. 

Elizabeth Warren responded to Congress repeal of certain aspects to the Volcker Rule, “…I will tell you that I’m madder than hops about repealing the section of Dodd-Frank that is designed to lower risks in exactly the area where the big banks got into trouble.” (Bair, 2015)  You can almost hear the GOP laughing, saying, “What a dumb bunny.”  Elizabeth Warren isn’t the type to just go away.  She will stick around to try and help them pull the rabbit from the hat in their future acts.

While she has the support of many liberals, she has said she will not run as a 2016 presidential candidate.  Warren’s, this means war attitude, will remain in the front lines as we see more attempted provisions to the Dodd-Frank law in our future.  She did win one recent battle of keeping a Wall-Street insider out of Washington.  Antonio Weiss, a former Wall-Street banker, withdrew his nomination for a top-policy position in the Treasury Department.  With the impact she’s made from the Senate, that may be the best position for her. 

Works Cited 
Bair, S. (2015, 01 13). Elizabeth Warren: I'm not running for president. Retrieved 01 14, 2015, from Furtune: http://fortune.com/2015/01/13/elizabeth-warren-sheila-bair/

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Odyssey

12/31/2014

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Since the US severed ties with Cuba in 1961, many presidents have tried but none succeeded in reestablishing the relationship.  The idea of a presidential legacy that exceeds his predecessors may be what enticed Obama to lift the embargo.  Luring sirens are most often linked to monsters, and are meant bring harm to the one that is tempted.  Obama must consider that as tempting as it is, he is still dealing with a Castro.

This was not an overnight decision, but a long drawn out ordeal that could include Cyclops along the way.  It is a mystery that longs to be solved, as it is the greatest loss of life on a Navy ship without combat.  The US navy collier was said to be lost in the Bermuda triangle and disappeared near Cuban waters in 1918.  

In this Obama adventure, it may not be so much about the Lotus he ate, but rather the cigar that he smoked that caused him to lose sight of the way.  Part of what made Cuban cigars so attractive was the idea that they were illegal.  With eased restrictions on imports and trade, the cigar no longer needs to be smuggled into the US.  At a recent White House Hanukkah party, a guest surprised Obama with the gift of a Cuban Cigar.  The president gave it a sniff and replied, “pretty good.” (Dukakis, 1214)    

One sacrifice both countries have made in pursuit of relations is the release of some political prisoners.  Activists are in an uproar, since there is no information being made public about whom the 53 political prisoners are or when they will be released.  According to activists, there are a much higher number of political prisoners behind bars in Cuba.  This sacrifice has led to the rebellion of Cuban dissidents, but Obama is still awake and negotiating.  On the US side, the last of the Cuban five has been released in the prisoner swap.

This plot may not be about a love affair with a witch-goddess, but there does appear to be a love affair with a country that has been off-limits for years.  Not all support Obama’s decision to lift the embargo against Cuba, since it was not to be lifted until there was a democracy and a change in power not involving the Castro family.  The Pope appears to have given his blessing to the two though, as he was the only other foreign leader included in negotiations. (Dorell, 2014)

Works Cited 
Dorell, G. K. (2014, 12 18). Pope Francis played key role in U.S.-Cuba deal. Retrieved 12 31, 2014, from USA Today: http://www.usatoday.com/story/news/world/2014/12/17/pope-key-role-in-us-cuba-deal/20533525/
Dukakis, A. (1214, 12 18). Obama Surprised With 'Cuban' Cigar On Historic Day for U.S.-Cuba Relations. Retrieved 12 31, 1214, from ABC News: http://abcnews.go.com/Politics/obama-surprised-cuban-cigar-historic-day-us-cuba/story?id=27700359
Homer. (2014). THE ODYSSEY. Retrieved 12 31, 2014, from Sparknotes: http://www.sparknotes.com/lit/odyssey/summary.html
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"The Usual Suspects"

12/10/2014

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The Sony hacking, which appeared to begin with a motive of extortion has changed to a plot of revenge. An email sent to top Sony executives on Nov. 21, may have gone strait to their spam, as it appears to be an email with bad some grammar, asking for money:
                      “We’ve got great damage by Sony Pictures.
                       The compensation for it, monetary compensation we want.
                       Pay the damage, or Sony Pictures will be bombarded as a whole.
                       You know us very well. We never wait long.
                       You’d better behave wisely.
                       From God’sApstls” (Weise, 2014)
The correspondence since the first email appear like something taken from twitter using #GOP (Guardians of Peace).  It is not yet known why they have been signed differently.  If the extortion hit didn’t come from one of the usual suspects, the plot of revenge may have. 

In the case of the Sony hacking, the usual suspects are nation states, or disgruntled employees.  Many are pointing fingers at North Korea, since in June they criticized an upcoming film, “The Interview” as an “act of war.” (Meg James, 2014) Also in June, North Korea threatened a "decisive and merciless countermeasure," (Meg James, 2014) if the US Government didn’t stop the release of the film.  It is obvious how serious the US Government and Sony view threats from North Korea, as the film is set for release on Christmas day. 

The FBI is not convinced the attack came from North Korea.  Disgruntled employees are also suspect, partly arising from numerous layoffs within the company in 2013.  What is more suspect than everything else is the way Sony Productions left themselves so vulnerable that such an attack could take place.  Those affected by the situation are likely asking how Sony wasn’t better prepared for such an event. 

The hit them where it hurts attitude is the only point that is clear behind the Sony cyber attacks.  News of the hacking has turned from being about the whom or the why behind the attacks to a more tabloid view of look what the criminals uncovered.  News articles from “The Guardian” or even “Bloomberg” read like something from the Enquire as they provide information leaked in embarrassing emails about big Hollywood names.  

Sony appears crippled, telling a story through bits and pieces of random information.  This developing story is strewn together to lead authorities to look for an anonymous criminal.  In the end, Sony productions might just disappear at the same time they begin to walk strait.            

Works Cited 
Meg James, D. M. (2014, 12 09). Sony Pictures execs debated risk of 'The Interview' before cyberattack. Retrieved 12 10, 2014, from Los Angeles TImes: http://www.latimes.com/entertainment/envelope/cotown/la-et-ct-sony-hack-north-korea-the-interview-20141210-story.html
Weise, E. (2014, 12 09). Sony hack: Disinformation, extortion or other? Retrieved 12 10, 2014, from USA Today: http://www.usatoday.com/story/tech/2014/12/09/sony-pictures-entertainment-hack-extortion-north-korea-cyber/20138507/

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Think

11/28/2014

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In February of 2014, a gallop poll listed North Dakota as the happiest state in America due to the Oil boom.  Since ordinary Mom and Pops are upset about all the fracking noise, 176,000 corporate executives must’ve taken the poll.  Decades earlier it was up to “you” to keep America beautiful.  With the money to be made destroying the land, unless you’re a dirty politician or a corporate executive it is not at all up to you.   

1980’s Captain O.J. Readmore’s message was, “Reading is where it’s at.”  When large oil corporations see signs of “Private Property,” they’ve come to read that’s where the oils at.  What can landowners do when large oil companies read something else into their “Private Property” signs, aside from the notice it was meant to convey?     

What do you do when you encounter a bully or have your property stolen in North Dakota?  In the 1980’s, McGruff the crime dog showed us to report thieves and bullies to authorities and “take a bite out of crime.”  Today in North Dakota, it is the authorities of government and judiciary positions that are being the bullies or stealing the property.  A corporation is said to have absorbed private owners’ mineral rights and their consent wasn’t needed since the “mega-unit” held the majority.  Burlington and the federal government own the “mega-unit”. (Sontag, 2014)

Big oil companies have intruded on state park land in North Dakota.  What will happen when fracking causes a forest fire and what will they use to put the fire out when their water spreads fire?  Smokey the bear once taught us “only you can prevent forest fires.”  You can’t prevent fracking from mixing gases into the water.

What can North Dakotans do about the pollution that’s a byproduct of the oil boom?  Woodsy the owl taught us to “give a hoot and don’t pollute.” They have the hazardous radiation of used oil filter socks that are dumped illegally.  Contaminated water is known as saltwater, it doesn’t sound nearly as dangerous as the toxins and gases it’s filled with.  Fracking brings “saltwater,” careful not to light a match near it, since it will catch fire.

The Migratory Bird Treaty Act wouldn’t be able to protect Woodsy Owl today, since any harm done would be considered an accidental consequence.  In corporate America actions continue with a full understanding of what the consequences will come, so often leading to “accidents.”  If Woodsy Owl, McGruff the Crime Dog, and Captain O.J. Readmore are still around, I wonder what type of Public Service Announcement they could put together for those involved in the oil boom. Environmental activist, Lopi LaRoe, created a message for Smokey the Bear on fracking in 2013, “Only you can prevent faucet fires.”  She was served up a lawsuit from the US Government for that one. (Rugh, 2013)  

Works Cited 
Rugh, P. (2013, 05 07). Forest Service seeks to silence Smokey the Bear over fracking. Retrieved 11 28, 2014, from Waging NonViolence: http://wagingnonviolence.org/feature/forest-service-seeks-to-silence-smokey-the-bear-over-fracking/
Sontag, D. (2014, 11 22). Where Oil and Politics Mix. Retrieved 11 28, 2014, from New York Times: http://www.nytimes.com/interactive/2014/11/24/us/north-dakota-oil-boom-politics.html?hp&action=click&pg&module=photo-spot-region&region=top-news&WT.nav=top-news&_r=0

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    Author

    My banter was on current affairs and ran from 2011 - 2016. I currently enjoy writing satire and horror shorts.

    I chose themes to run against each current event to bring some entertainment to my Banters. I began writing the banter in February 2011, and wrote my last in February 2016.

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