Business

"'A Gigantic Clusterf**k': How Morgan Stanley Avoided $10BN In Archegos Losses By Selling First"

Interesting. And halfway through the piece I thought to myself this is just like how the very enjoyable movie, Margin Call, unfolded. And lo and behold, the author made the same point. (Except in the movie Kevin Spacey claimed that the nobody would ever do business again with the Morgan Stanley-like firm again. Ha!)

"Be first, be smarter, or cheat" indeed.


"Elizabeth Warren Is a Ridiculous, Power-Hungry Crackpot"

A truly excellent rant by Kevin Williamson. Over the top but righteous and funny as hell.

Do you know what another word for “loophole” is? Law. Loopholes aren’t manufactured at some overseas sweatshop loophole factory operated by Charles Koch’s evil cousin Skippy — they are manufactured right there in the august body that is the United States Senate Committee on Finance, of which Senator Elizabeth Warren is, insanely enough, an actual member. She may as well have a sign on her door reading “Loopholes ’R’ Us.” . . .

And, of course, “loopholes” aren’t really loopholes. “Loopholes” are what useless low-minded demagogues call intentionally designed features of the tax code when they are being used by somebody it is politically convenient to attack. 


"‘A managerial Mephistopheles’: inside the mind of Jeff Bezos"

So here's a self-identified socialist and a person with "moral principles," writing for the Lefty British paper The Guardian, struggling with a big problem. He believes Amazon to be the evil embodiment of the very evil capitalist system and that Jeff Bezos is obnoxiously--even obscenely--wealthy because of it. He thinks he shouldn't patronize Amazon one bit, not one tiny bit. But he can't help himself: Amazon is just too good.

Funny or sad: you decide. 

But here is where I encounter the problem of my own moral inertia. If a thing is available for purchase, and I want to buy it, I know for a near certainty that I will be able to get on Amazon, and that I will in all likelihood be able to get it quicker and cheaper than I would elsewhere. . . .

And here we come to the core of the problem: Amazon works too well. Its success and ubiquity as a consumer phenomenon makes a mockery of my ethical objections to its existence. 

Similarly funny or sad: "The Snowplow Test".