That is how much paper DOJ churned out over the Fast & Furious debacle. That's a scary amount of paper. Suppose each document takes one hour to write, email, read and backup. That's 100,000 manhours just to do the paperwork. One guy works 40 hours in a week, 50 weeks a year. One man year is then 2000 hours and it takes 50 man years just to do the paperwork, a basic time wasting task. Want to bet it took less than a couple of man years to walk all those guns?
So we have a couple of man years to do something totally stupid, lethal, and illegal, and 50 man years to cover it up, and sweep it under the rug,
Our tax dollars at work.
Thursday, June 14, 2012
U.S. Anti Doping Agency?
Never heard of them before. Now that they are going after Lance Armstrong, they made the TV news. Armstrong retired from bike racing some years ago. Armstrong has denounced them as a spite motivated witch hunt. Since USADA has no legal powers, it's a trial by public relations. Armstrong is a household name, and always looked like a regular guy. USADA is a no body and will need the strongest of evidence to win their case. It will be hard for them to convince me that lab work on blood samples three years old means anything.
It also depends upon how the media feel about Lance Armstrong. If they decide they don't like him, they will slant stories against him, which creates a powerful headwind.
It also depends upon how the media feel about Lance Armstrong. If they decide they don't like him, they will slant stories against him, which creates a powerful headwind.
Kelly Ayotte looking and sounding good on TV
Our new senator, Kelly Ayotte has only been in Washington for two years. But she won some important committee assignments, and has established a useful relationship with the TV news. She has been on the air repeatedly, commenting upon various matters. On air she speaks well and knowledgeably. And she leads the discussion, unlike the usual pol who just responds to the TV people's questions.
Good work.
And Kelly shows up a lot better than Jean Shaheen, our other senator.
Good work.
And Kelly shows up a lot better than Jean Shaheen, our other senator.
Wednesday, June 13, 2012
Eurovising the Euro Banks
Both the Wall St Journal and the Economist are calling for this. Right now a Euro bank is chartered . regulated, and insured by a national government. Some governments do a good job (Germany) and others don't (Greece). The idea is to create a European Bank Regulator with power to regulate all Euro banks. This would make banks in shaky countries look stronger and reduce incentives to pull deposits out of shaky countries and put them in Germany.
Probably not a bad idea, especially if you believe in creating a United States of Europe, which a lot of Euros do.
Such a Euro Bank Regulator would have a lot of power. It could set bank capital requirements, set pay of bank officers, set what businesses banks could invest/gamble in. It would audit bank books and manage a Euro Deposit Insurance Corp.
Was I a Euro citizen I'd like to know who will run such a thing. Would this Euro Regulator be answerable to Euro voters? Or would it be a Brussels bureaucrat appointment deal, with lucky bureaucrats serving for life?
Of course the Euro's are often oblivious of such issues. I was in Europe on business back when they were putting the Euro together. None of the Europeans I chatted with at the time had the slightest idea of the power of what they were creating, or any interest in who would control it. None of the Euros understood that the second most important official in America, right behind the president, is the chairman of the Federal Reserve.
I guess I'd be a little more enthusiastic about the idea if I thought there was anyone in Europe smart enough to do a good job running it.
Probably not a bad idea, especially if you believe in creating a United States of Europe, which a lot of Euros do.
Such a Euro Bank Regulator would have a lot of power. It could set bank capital requirements, set pay of bank officers, set what businesses banks could invest/gamble in. It would audit bank books and manage a Euro Deposit Insurance Corp.
Was I a Euro citizen I'd like to know who will run such a thing. Would this Euro Regulator be answerable to Euro voters? Or would it be a Brussels bureaucrat appointment deal, with lucky bureaucrats serving for life?
Of course the Euro's are often oblivious of such issues. I was in Europe on business back when they were putting the Euro together. None of the Europeans I chatted with at the time had the slightest idea of the power of what they were creating, or any interest in who would control it. None of the Euros understood that the second most important official in America, right behind the president, is the chairman of the Federal Reserve.
I guess I'd be a little more enthusiastic about the idea if I thought there was anyone in Europe smart enough to do a good job running it.
Tuesday, June 12, 2012
How long will 100 billion Euros last?
Somebody has volunteered to give/loan/print 100 billion Euros for Spanish banks. Spain's basic problem is the Spanish government is spending a lot more than it takes in via taxes. They have been borrowing the shortfall. Except that nobody will lend the Spanish government any more money, 'cause no body believes they can ever pay it back.
This 100 billion goes to Spanish banks, but there is little difference between bank and government. When the government borrows money, it borrows it from banks. Spanish banks find it difficult to refuse loans to the Spanish government. Any right thinking bank surely worries about encounters of the unpleasant kind with bank examiners, taxmen, and stock market regulators if they don't do the patriotic thing and loan their government money.
So Spain has another 100 billion to keep things running. How long before it runs out? A year? Two years? Anyone see any signs of Spanish economic reforms that might reduce their deficit?
This 100 billion goes to Spanish banks, but there is little difference between bank and government. When the government borrows money, it borrows it from banks. Spanish banks find it difficult to refuse loans to the Spanish government. Any right thinking bank surely worries about encounters of the unpleasant kind with bank examiners, taxmen, and stock market regulators if they don't do the patriotic thing and loan their government money.
So Spain has another 100 billion to keep things running. How long before it runs out? A year? Two years? Anyone see any signs of Spanish economic reforms that might reduce their deficit?
AdvertiseFail #3
TV ads for a Jetski. They show the happy jet skiers zipping around in blue water. Then we get to the meat of the ad, brakes. On a boat? They show their Jet ski slowing to stop in much less water than competitor jet ski. Cool. But why do I care?
You slow a boat by putting the prop into reverse and using engine power. To get into reverse you have to throttle back to idle. Shifting at full power makes that ugly grinding noise. Throttling back is likely to make the engine stall, leaving you with NO reverse thrust at all. I learned many summers ago, never to depend upon reverse thrust being there when you need it. Approach dock slowly, to avoid ugly bumping sound should reverse not be there.
Anyhow, I ain't buying a Jet ski just a cause it excels in reverse thrust.
You slow a boat by putting the prop into reverse and using engine power. To get into reverse you have to throttle back to idle. Shifting at full power makes that ugly grinding noise. Throttling back is likely to make the engine stall, leaving you with NO reverse thrust at all. I learned many summers ago, never to depend upon reverse thrust being there when you need it. Approach dock slowly, to avoid ugly bumping sound should reverse not be there.
Anyhow, I ain't buying a Jet ski just a cause it excels in reverse thrust.
Sunday, June 10, 2012
Adventures in E-books
Favorite Daughter has been raving about the Kindle she received for Christmas. So, I though I'd see what was out there that could be read on my humble hardware, namely Antique Laptop running Windows XP. Actually quite a bit. Ultra tech savvy son was able to find the latest George R.R. Martin "Game of Thrones" novel. Then I found Walter Scott's Ivanhoe. Yesterday I Googled for an old E.E. Smith space opera. It was there, long out of copyright and thus free and legal, complete with cover art and illustrations from the 1920's pulp magazine in which it had first been serialized.
Only one small hitch, the file had extension was .EPUB and none of the software on Antique Laptop knew what to do with that. Googling for .EPUB came up with a history of the breed, and a most helpful post comparing about 10 different EPUB readers. Of the reviewer's top picks, one from Adobe required the Adobe flash player to work, the other was a straight Windows program. I'm not a Flash fan, that program gets patched on a weekly basis, and usually patches break programs. So I downloaded the Sony Reader, all 40 Mb of it.
And it works. Clicking on the ebook file launches the reader. Comes up with a nice readable font, and a one button page turner.
I suppose I need to go all the way, download a for pay Kindle E-book and a Kindle reader program. That's still on my to-do list.
Actually, I prefer reading a paperback to reading on Antique Laptop. Paperback works in bed, outdoors in bright sunlight. Antique laptop runs hot, and feel hot and heavy in the lap, where as a paperback is next to weightless.
Only one small hitch, the file had extension was .EPUB and none of the software on Antique Laptop knew what to do with that. Googling for .EPUB came up with a history of the breed, and a most helpful post comparing about 10 different EPUB readers. Of the reviewer's top picks, one from Adobe required the Adobe flash player to work, the other was a straight Windows program. I'm not a Flash fan, that program gets patched on a weekly basis, and usually patches break programs. So I downloaded the Sony Reader, all 40 Mb of it.
And it works. Clicking on the ebook file launches the reader. Comes up with a nice readable font, and a one button page turner.
I suppose I need to go all the way, download a for pay Kindle E-book and a Kindle reader program. That's still on my to-do list.
Actually, I prefer reading a paperback to reading on Antique Laptop. Paperback works in bed, outdoors in bright sunlight. Antique laptop runs hot, and feel hot and heavy in the lap, where as a paperback is next to weightless.
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