Celtics Need A Big Win

– Bull E

Celtics are down 2-1 and need to pull it together tonight.  Ray Allen’s tough experience in game 3 should be amended for today’s game.  He has rested and is playing at home.  With the Sox 5 games behind the rays and getting abused by Cleveland, Massachusetts needs the Celtics to win tonight for their own sanity!  Here is SI’s take on this big game. 

A side note:  where else in sports can you get such an UNpolitically correct mascot?  He’s smoking for crying out loud!  I love it!

The Government Hates Profit

– Bull E

John Tamny points out some of the faults inherent with taxing profits solely because they are profits.

The Ozman Dispenseth Medical Advice!?

– Bull E

Here is a sure sign of the impending apocalypse…

The Oracle Speaks!

My new favorite Buffett...Jimmy!

– Bull E

Warren Buffett recently testified to the FCIC about Moody’s involvement in the financial debacle of late.  Meekly (he is a billionaire and I a mere student), I disagree with Buffett’s assertion that the rating agency was just as blind as the rest of the world and therefore its CEO shouldn’t be responsible or even be fired.  See my other post about this here.

That is a ridiculous way to view this scenario.  Moody’s entire existence is justified only because it is supposed to see through the cooked books and junk bonds and warn investors and creditors of shaky bonds.  That is what they do.  They failed…immensely.  Buffett seems to be saying that it’s OK that they failed because everyone else did too.

What?  Really?

The difference, Mr. Buffett, is that the CEO of Moody’s is paid very handsomely to tell me the credit worthiness of a particular debt.  Buffet seems to be comfortable knowing that Moody’s (S & P as well) is nothing more than an aggregator for public sentiment.  That is a huge problem.  If that is what they have become then they need to be explicit in stating that fact.

Of course, Buffett’s 19.6% ownership of Moody’s is not why he takes this position. Right.

I don’t know the answer here on what the best tactic moving forward is though.  Should we move the cost of the rating agency to the consumer?  Of course, that would encourage under-rating debt and lower the capital raising abilities of good companies.  Should they be paid for by the government (I shudder internally at that thought)?  What say you, faithful Pulpit readers?

Boston Schools Bring Back Civics

– Bull E

We should do this in more schools across the country.  Students have less knowledge today about how their own government works and what part they play.  I believe this is one way to give them that knowledge, which as we know, is power.

Republicans Jump Out To Historic Lead In Gallup Generic Ballot (via Real Clear Politics – TIME.com)

Gallup's generic polling shows the number of voters saying that they would vote for Republicans rising three points from last week, while the number saying they will vote for Democrats dropped four points.  The 49%-43% lead for the Republicans is the largest that the pollster has ever recorded for the party.  Moreover, Democratic enthusiasm for voting this fall fell a point, while enthusiasm among Republicans stayed about fifteen points higher.  … Read More

via Real Clear Politics – TIME.com

Another Czar?

– Bull E

Reihan Salam writes a very critical piece about President Obama’s response to the Gulf oil spill, namely the probable appointment of an oil spill czar.

I agree that it seems President Obama names czars for task that are impossible.  I also think that Salam is correct in saying that the huge number of czars now in the white house can command far too much of the presidents time, a commodity that Salam calls “…the world’s rarest, most precious resource”.  It does appear that the President names a czar when he needs to appear to be taking action, but in reality is writing the issue off.