Month: March 2009

  • If you could spend a day with any Xangan, who would you choose? What would your day be like?

    Cakalusa.

    Though I must say, the day would involve wisecracking and oh-snapping at one another, all day.

    I'm only thinking about Xangans I have yet to meet.  No offense for the ones I have met...are we doing lunch in 2 weeks?

    I just answered this Featured Question; you can answer it too!

  • My teacher

    My high school music teacher passed away 4 years ago on this day.

    I am one of many, many students he rescued.  I cannot be more proud and honored to be one of his children.

    He probably knew this, maybe he never did.  He knew I was under tremendous pressure from my family.  What he probably didn't know was that it was up to a point where I was ready to commit suicide at the time.

    He offered a simple solution.  He handed me a pair of percussion mallets, and demanded that I'd show up for rehearsals Monday to Friday, 8:50-9:30, from September to June.

    When in a band, of course, there's more than rehearsal time.  Performances in school.  Performances outside of school as far south as Georgia.

    Band is a different turf from home or just school.  You have people who have your back when band disasters happen.  There are fifty of us, and our teacher showed us that if we stick together and work together, we will achieve great things together.  I may be really rusty or completely forgotten how to play, but the lesson of teamwork, I took that with me everywhere I go -- every workplace, every organization.

    Mr. Laurenzano, you are sorely, sorely missed.

  • Global, one world economy?

    Okay, Zach, we are heading towards a united global economy...only if Obama succeeds.

    A time for global action
    By Barack Obama
    Monday, March 23, 2009

    WASHINGTON: We are living through a time of global economic challenges that cannot be met by half measures or the isolated efforts of any nation. Now, the leaders of the Group of 20 have a responsibility to take bold, comprehensive and coordinated action that not only jump-starts recovery, but also launches a new era of economic engagement to prevent a crisis like this from ever happening again.

    No one can deny the urgency of action. A crisis in credit and confidence has swept across borders, with consequences for every corner of the world. For the first time in a generation, the global economy is contracting and trade is shrinking.

    Trillions of dollars have been lost, banks have stopped lending, and tens of millions will lose their jobs across the globe. The prosperity of every nation has been endangered, along with the stability of governments and the survival of people in the most vulnerable parts of the world.

    Once and for all, we have learned that the success of the American economy is inextricably linked to the global economy. There is no line between action that restores growth within our borders and action that supports it beyond.

    If people in other countries cannot spend, markets dry up -- already we've seen the biggest drop in American exports in nearly four decades, which has led directly to American job losses. And if we continue to let financial institutions around the world act recklessly and irresponsibly, we will remain trapped in a cycle of bubble and bust. That is why the upcoming London Summit is directly relevant to our recovery at home.

    My message is clear: The United States is ready to lead, and we call upon our partners to join us with a sense of urgency and common purpose. Much good work has been done, but much more remains.

    Our leadership is grounded in a simple premise: We will act boldly to lift the American economy out of crisis and reform our regulatory structure, and these actions will be strengthened by complementary action abroad. Through our example, the United States can promote a global recovery and build confidence around the world; and if the London Summit helps galvanize collective action, we can forge a secure recovery, and future crises can be averted.

    Our efforts must begin with swift action to stimulate growth. Already, the United States has passed the American Recovery and Reinvestment Act -- the most dramatic effort to jump-start job creation and lay a foundation for growth in a generation.

    Other members of the G-20 have pursued fiscal stimulus as well, and these efforts should be robust and sustained until demand is restored. As we go forward, we should embrace a collective commitment to encourage open trade and investment, while resisting the protectionism that would deepen this crisis.

    Second, we must restore the credit that businesses and consumers depend upon. At home, we are working aggressively to stabilize our financial system. This includes an honest assessment of the balance sheets of our major banks, and will lead directly to lending that can help Americans purchase goods, stay in their homes and grow their businesses.

    This must continue to be amplified by the actions of our G-20 partners. Together, we can embrace a common framework that insists upon transparency, accountability and a focus on restoring the flow of credit that is the lifeblood of a growing global economy. And the G-20, together with multilateral institutions, can provide trade finance to help lift up exports and create jobs.

    Third, we have an economic, security and moral obligation to extend a hand to countries and people who face the greatest risk. If we turn our backs on them, the suffering caused by this crisis will be enlarged, and our own recovery will be delayed because markets for our goods will shrink further and more American jobs will be lost.

    The G-20 should quickly deploy resources to stabilize emerging markets, substantially boost the emergency capacity of the International Monetary Fund and help regional development banks accelerate lending. Meanwhile, America will support new and meaningful investments in food security that can help the poorest weather the difficult days that will come.

    While these actions can help get us out of crisis, we cannot settle for a return to the status quo. We must put an end to the reckless speculation and spending beyond our means; to the bad credit, over-leveraged banks and absence of oversight that condemns us to bubbles that inevitably bust.

    Only coordinated international action can prevent the irresponsible risk-taking that caused this crisis. That is why I am committed to seizing this opportunity to advance comprehensive reforms of our regulatory and supervisory framework.

    All of our financial institutions -- on Wall Street and around the globe -- need strong oversight and common sense rules of the road. All markets should have standards for stability and a mechanism for disclosure. A strong framework of capital requirements should protect against future crises. We must crack down on offshore tax havens and money laundering.

    Rigorous transparency and accountability must check abuse, and the days of out-of-control compensation must end. Instead of patchwork efforts that enable a race to the bottom, we must provide the clear incentives for good behavior that foster a race to the top.

    I know that America bears our share of responsibility for the mess that we all face. But I also know that we need not choose between a chaotic and unforgiving capitalism and an oppressive government-run economy. That is a false choice that will not serve our people or any people.

    This G-20 meeting provides a forum for a new kind of global economic cooperation. Now is the time to work together to restore the sustained growth that can only come from open and stable markets that harness innovation, support entrepreneurship and advance opportunity.

    The nations of the world have a stake in one another. The United States is ready to join a global effort on behalf of new jobs and sustainable growth. Together, we can learn the lessons of this crisis, and forge a prosperity that is enduring and secure for the 21st century.

    Barack Obama is president of the United States. A Global Viewpoint article distributed by Tribune Media Services.

  • Get a life

    A sign that I need to get a life: I can hear voice of person writing the e-mail with every emphasis of each syllable.

  • Overreacting

    An invisible hand on my shoulder, a voice inside my head, though I swear that I heard whispered in my ear, "You're overreacting."

    So true.  This isn't the first time, and sure won't be the last.

    Practice on walking it off...

  • A Thousand Roads

    A Thousand Roads
    Only one path can be chosen at a time
    Wrong Move
    No turning back

  • Handle This

  • Leaving

    This isn't the first time a colleague leaving the workplace.  I just wish it's not about the cutbacks. 

    In the past, every colleague leaves for one reason only: bigger fish to fry.  I miss each of them dearly, though I'm happy for each of them.  Some came alone and left with a family.  Some left for the love of his or her life.  Some got jobs with higher pay and promotion.  Some went for retirement, just for a second career pursuing hobbies.

    This year is the first time we have two colleagues being let go due to economic downturn.

    No one really knows who's next.

  • Word.

    AIG bonuses: Bring on the lawyers | Politico

    The only real difference between Bernie Madoff and the management of AIG is that when Bernie Madoff got caught, he pleaded guilty. When AIG got caught, it asked the government for $170 billion.

    And it got it. Now the American International Group is going to pay $165 million to its executives as a reward for the fine job they did in duping everybody.

    The Obama administration is officially outraged by this. It is stamping its feet. It is jumping up and down. It is issuing stern statements.

    But some are getting ready to pay. Some are getting ready to let the fat cats get fatter.

    Larry Summers, director of the president’s National Economic Council, went on ABC’s “This Week With George Stephanopoulos” on Sunday and said the AIG bonuses were “outrageous” but might have to be paid.

    “We are a country of law,” he said. “There are contracts. The government cannot just abrogate contracts.”
    Baloney. Contracts get abrogated all the time. That’s why there are lawsuits.

    It’s not enough for AIG executives to continue to get their huge annual salaries because of a government bailout — they want bonuses, too? Let them sue to get them.

    The way the courts work, they should get a ruling within the next century or so.

    But while we are waiting, the taxpayers should not stand idle. We should demand the immediate resignation of Edward M. Liddy, the government-appointed chairman of AIG.

    Liddy recently wrote a letter to Treasury Secretary Timothy Geithner saying the bonuses must be paid to the AIG executives because, otherwise, their morale might suffer.

    “We cannot attract and retain the best and the brightest talent to lead and staff the AIG businesses — which are now being operated principally on behalf of American taxpayers — if employees believe their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury,” Liddy wrote.

    The best and the brightest? Is this guy serious? As of Sunday, AIG stock had gone down 99 percent over the past year because of these geniuses. But we have to worry they might quit and go elsewhere?

    Fine. Let them go. Maybe they can get jobs in Zimbabwe, where kleptocracy is official policy. I think some of them would feel more comfortable there.

    Liddy is scheduled to appear at a congressional hearing Wednesday. Actually, I would feel better if he were going on “The Daily Show With Jon Stewart.” That guy really knows how to interrogate.

    But I hope our elected representatives get to the heart of the matter with Liddy: Why do Wall Street fat cats believe they operate in a separate world, one where ordinary rules don’t apply and democracy doesn’t work?

    Monday afternoon, President Barack Obama accused AIG of “recklessness and greed.”

    And he said he is going to “pursue every legal avenue to block these bonuses and make the American taxpayers whole.”

    The key phrase, of course, is “every legal avenue.” We do not want our president to act illegally. But I hope he is not going to throw up his hands in helpless outrage if AIG lawyers say the bonuses must be paid.

    There are more than 1.14 million lawyers in America. Some 40,000 new ones are produced every year. And believe me, we can find a lawyer to say we don’t have to pay these bonuses.

    I really don’t think the public will settle for any less. Not from a president who promised change.

    Robert Reich, former labor secretary under Bill Clinton, told Adam Nagourney of The New York Times, “Never underestimate the capacity of angry populism in times of economic stress.”

    Angry populism? You don’t have to be a populist to be angry about this. You have to be something other than brain-dead.

    We must shake off the notion that our government is a helpless giant. Instead of shoveling money to these companies, we should be investigating them. AIG may be too big to fail, but its management is not too big to go to jail.

    Bernie Madoff could use the company.