Bidness

Mike the Mad Biologist

Category archives for Bidness

Admittedly, some boycotts have worked: Glenn Beck seems to have been seriously harmed by the boycotts against his advertisers. But what happens when the corporations you want to boycott have massive market share? The American Legislative Exchange Council (ALEC) is a corporate-backed lobbying group that has essentially written many laws at the state level, including…

This, Too, Should Be Called Default

With all of the S&P hoopla, we’ve heard a lot about ‘default’–that the U.S. government can’t (false) or won’t (with the teahadists, who knows?) pay the money owed on its debt. Well, there’s another kind of default that’s slipping under the radar (italics mine): When the small, beleaguered city of Central Falls, R.I., filed for…

So Is Standard & Poor’s Still Rating Cows?

One of the most frustrating things about the Standard and Poor’s (S&P) U.S. debt downgrade is that S&P is part of the problem, as I’ve described before. They really aren’t studious evaluators of evidence, untouched by the profit motive or ideology. They are venal hacks, as Matt Stoller reminds us of what came to light…

Monday, I wrote about how Standard & Poor’s (S&P) downgrade of U.S. debt had political motivations–avoiding fraud investigations as well as ‘convincing’ the Securities and Exchange Commission to remove new regulations that could undercut their business: …I won’t rule out that S&P is stupid incompetent and ideologically blinkered. But they routinely commit fraud (and I’m…

There’s been a lot of excellent posts debunking Standard & Poor’s recent downgrade of U.S. debt on the merits–it is poor assessment of risk. Yes, there are substantive economic arguments against S&P’s evaluation. But S&P is also fundamentally corrupt. The Coalition of the Sane must point this out too–there is an ethical dimension here, not…

A while ago, I discussed how the battle over credit and debit fees is really a battle over how much money should cost and whom you’re paying that cost to: corporations or government. Well, the corporate takeover of the monetary base continues unabated, this time affecting Social Security. You see, in the name of efficiency,…

It appears the de facto Congressional retirement plan is spreading to the lower orders. For those who aren’t familiar with the Congressional retirement plan, here’s what I mean: One of the dirty secrets about many, if not most, congressmen and senators is that they like Washington, D.C., rhetoric notwithstanding. They want to stay in town…

I haven’t talked about Big Shitpile (the housing-initiated economic collapse in a while), but this report from the Essex County Register of Deeds (Massachusetts) describes nothing less than the breakdown of the property title system in the U.S.: Yesterday at the Annual Conference of The International Association of Clerks, Recorders, Election Officials and Treasurers (IACREOT),…

It’s OK If You’re a Republican, I suppose: Last year the Wall Street Journal reported that Cantor, the No. 2 Republican in the House, had between $1,000 and $15,000 invested in ProShares Trust Ultrashort 20+ Year Treasury EFT. The fund aggressively “shorts” long-term U.S. Treasury bonds, meaning that it performs well when U.S. debt is…

Over the weekend, The Washington Post actually committed journalism with a report about the growing income and wealth gap in the U.S. To place it in historical context, they compared two CEOs, one from the 1970s and the current CEO. Here’s the blast from the past (italics mine): It was the 1970s, and the chief…