Forensic Analysis of the Lehman Failure for Total Idiots: The Great Professional Failure?
Damnit, this time I am the failure, not Timmy. :(
Let me kick this off by saying I don't normally let someone call me a failure and let it go for weeks but I've had shit to do so Dennis will get his chewing out now. As a matter of fact, he's right to some extent so there will be little "chewing out" but let's get to what he said first.
Lehmans: we’re idiots – right? (AccMan):
Whatever the regulatory outcome, in EU, we’ll all be taking a rectal suppository of a size that will make eyes and ears bleed. If you’re not taking notice then shame on you. For myself, I would be delighted for any US publication to take my more measured opinion. Seriously.
In the meantime, I am not surprised that Francine and Adrienne run amok. If I was in their position I’d do the same. It’s easy meat for those with more inquiring minds.
Professionals with clients that have USD exposure might wish to take note. You’re in the crapper. And I for one am disgusted at the way foghorn tossers in the shape of people like chairman Frank stifle the real debate. Yes – I am angry. Professionals who try do the right thing deserve better than the PR twisted bullshit that the likes of political appointees such as Bernanke and Geithner dish up. They are beneath any thinking person’s contempt.
To their eternal credit both Francine and Adrienne try make the complex look simple. They’re failing. When Global Main street gets what they’re talking about then maybe we’ll see the world through different spectacles. Of course we need regulatory change but we need explain to Joe Blow how the dots get connected. It’s not easy but it is do-able and, is in my opinion essential to our crafting a new way of creating sustainable economies.
First and foremost, I feel compelled to point out that we are idiots and that is a feature, not a bug. As a direct result of American public school myself, I can attest to the effectiveness of this plot to make us just stupid enough to not ask questions but "smart" enough to know how to press buttons. Manufacturing can be a bit complicated for total idiots so we've moved most of that work off-shore and made up cush office jobs that require little more than pushing paper and wasting hours of company time on Facebook. Any idiot can manage that, right? Right.
Secondly, it is presumptuous of Dennis to imply that he knows my duty to my readers and the world ignorant of finance as a whole. Granted, he's right but at the same time, how dumbed-down do I have to make it? I leave the graphic representations of toxic assets to Mint.com and stick instead to the F word to make sense of the esoteric. What more do you need? How much stupider does it have to be?
It is not my responsibility to chew the worms in advance, I am merely here to translate the nonsense into more nonsense (that at least makes some sense).
How does Dennis propose I reach any further or bust my ass any harder to get to "Global Main street", who are waiting desperately for me to come down from the mountain and kick them down the wisdom that pulls back the curtain on the total financial clusterfuck consuming all of us? As if, I'm not a fucking prophet and Global Main street is welcome to head to a book store or do a Google search or check out any other writer in my right sidebar ------> if Joe Blow wants to learn how the dots are connected. I can only do so much but in the aggregate, enlightenment is out there, I am not going to enable the same lazy behavior that got us into this mess. My hope is that I make it interesting enough to make someone put down the remote and go looking for more.
I remind Dennis that I quit my job to digest this shit for a living so if that isn't enough, perhaps I need to find another line of work and go blog about my cat. For fuck's sake, what more do you want?