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Dana Blankenhorn

 
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  • A scary thought from MKM Partners: "The current debt ceiling impasse has the same feel to it that the TARP vote did back in 2008. Back then, TARP failed to pass the House on the first vote, but went through after the DJIA fell nearly 1,000 points in a single day as a result." Such a scare might be the only way to spark bickering lawmakers to pass an otherwise "unpassable" plan.  [View news story]
    If you are good or lucky, you gain more benefits from America than others do. It protects your assets. You have more to lose from any type of social upset than others do. You have more to gain from the sacrifices of our wars than others do. You actually get more from government than others do. So you should pay more than others do.

    This has been the policy of our government for 100 years, but that policy has been vitiated in our time, by loopholes, by offshore tax havens, and by continued reductions in tax rates to top earners that weren't paid back in higher receipts -- as was promised.

    You have more to lose from a default than others. You should pay more to prevent it.
    Jul 27, 2011. 11:58 AM | 1 Like Like |Link to Comment
  • First Solar Assures Its Future [View article]
    What FSLR is doing in its accounting is, as you say, little different from what "most public companies" do. Yes, our markets are hurt because we don't using internationally-recogn... accounting standards and use FASB instead, but that's not an argument about First Solar.
    Jul 27, 2011. 09:51 AM | Likes Like |Link to Comment
  • Third Point’s Daniel Loeb again wields his acid pen to criticize White House leadership: "It is increasingly difficult to avoid the conclusion that while Washington burns, Pres. Obama is fiddling away by insisting that the only solution to the nation’s problems - whether unemployment, the debt ceiling or deficit reduction - lies in redistribution of wealth."  [View news story]
    The idea that the banks should have been allowed to fail in 2008 is appealing as ideology, but in practice would have resulted in another Great Depression.

    The fact that the banks are now financially viable, and politically stronger than the government, is disquieting. Government has to be strong enough to discipline any bad actor, and if its' not that bad actor is the government. No difference in that between a Mexican narco-syndicate and an American bankster.
    Jul 27, 2011. 09:49 AM | Likes Like |Link to Comment
  • Can AOL Be Saved? [View article]
    Do you have an alternative for dialup ISP service or is this goodbye?
    Jul 27, 2011. 08:44 AM | Likes Like |Link to Comment
  • Utilities Thrown Into Renewable Transmission Briar Patch [View article]
    Environmentalists have been fighting new transmission lines because they cut across properties, even wilderness, for years. There was a great example of this recently in Virginia, and the utility had to back down.

    Now, with the government authorizing new lines for renewable plants, the way is clear to fund lines going to other plants, and remove environmentalist obstacles that stand in the way of those high returns on equity new lines generate.
    Jul 27, 2011. 08:43 AM | Likes Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    No it wouldn't.

    Because an assurance the bills will be paid would stabilize the market. It can't happen until the market is de-stabilized, I admit, but ending an ongoing crisis won't be seen as an impeachment offense in the clear light of day. And if the House moves in that direction it seals the majority's doom.
    Jul 27, 2011. 08:40 AM | 1 Like Like |Link to Comment
  • First Solar Assures Its Future [View article]
    Real estate and housing are merely the residual values available after everything else is done. They're not an "industry" in the way that energy is an industry, and to pretend they are is to pretend that you can stand on air.

    Banking, meanwhile, is just a means to an end. It's the parceling out of capital, not its use.
    Jul 27, 2011. 08:39 AM | 1 Like Like |Link to Comment
  • Microsoft's Cloud Power Struggle [View article]
    It's interesting how Juniper fell 10% in value, despite investment banks pounding the table for it, after the Muglia announcement.
    Jul 27, 2011. 08:37 AM | Likes Like |Link to Comment
  • Microsoft's Cloud Power Struggle [View article]
    There is a big difference between cloud computing and what came before. Clouds scale. Clouds save enormously on hardware costs. You're combining distributed computing, and virtualization, into a platform that lets any program take control of the whole system when it needs it, so waste is dramatically reduced and the capabilities of the whole are dramatically expanded.

    You're right, though. This has been coming on for 15 years.
    Jul 27, 2011. 08:37 AM | Likes Like |Link to Comment
  • Microsoft's Cloud Power Struggle [View article]
    The power struggle happened last year. Look at the links. Muglia and the rest were told to leave in January and have been leaving since.

    But last year all these guys were enterprise software guys. Now they claim to be cloud guys. That's the story.
    Jul 27, 2011. 08:35 AM | Likes Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    Critics of the President are right in that no pain has come yet, from the debt ceiling debate. His warnings that it would come notwithstanding.

    Problem is, once the default happens the damage is done. Where do we go then to get our credit-worthiness back?
    Jul 27, 2011. 08:30 AM | Likes Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    You may be right there, by your own lights. But consider what might have happened had he note enforced the TARP law passed by the previous Congress (and pushed by the previous President), or bailed out the auto companies and passed the stimulus.

    I know that in your world everything would have been hunky-dory, but in the real world things weren't that way.
    Jul 27, 2011. 08:29 AM | 1 Like Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    We'll see.

    But the idea of paying 11% of GDP to cover everyone instead of 17% to cover just two thirds sounds attractive when you describe it.

    And in the 2008 debates the President never said he supported VA care for everyone. So you're projecting.
    Jul 27, 2011. 08:27 AM | 1 Like Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    By the time a case on the 14th Amendment got to the Supreme Court the controversy would have been over years before. I think you realize that.
    Jul 27, 2011. 08:25 AM | 1 Like Like |Link to Comment
  • The sky hasn't fallen, and the Obama administration's persistent warnings that the market would react negatively to the debt ceiling crisis may have undercut its negotiating position. “They have lost all credibility,” former TARP chief Neil Barofsky says. “It’s so typical of the way Treasury and the Fed treat everything - always to warn that Armageddon is coming.”  [View news story]
    Congress has the power to appropriate, yes. But the 14th Amendment says the bills run up by the Congress, and the interest on the debt, must be paid. (Except for compensation on slaves, of course.)
    Jul 27, 2011. 08:24 AM | 1 Like Like |Link to Comment
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