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02/26/2013

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Mat

I recently read an article whose main point was that the profits of large banks are "subsidized" by the government. The problem with the article is that it didn't specifically cite what this subsidy actually was. Literally, I read the article 2 or 3 times and couldn't find any reference to what it was specifically discussing. I assume, based on my own understanding of how the financial market works, the "subsidy" is specifically the money that is loaned to banks at low interest rates from the Federal Reserve. You wouldn't know that from the article.

That didn't stop hoards of people commenting from all sides of the ideological spectrum from lobbing blame at any and all institutions for this horrible problem that goes unsolved. This problem, of course, is ill-defined in the article and totally obfuscated. It certainly allows many people to project the problem on to whatever institution they dislike.

I debated with myself on whether I should post the article or not. I didn't want to perpetuate such an awful article, but I decided I'd throw it out there so that I could talk outside of hypothetical notions.

http://www.bloomberg.com/news/2013-02-20/why-should-taxpayers-give-big-banks-83-billion-a-year-.html

Dave from Phila

So I have a confession to make. While I firmly hold the opinion espoused by the first cartoon with regard to this most recent finanical deadline, I will admit that in social get-togethers with mixed political points of view, to avoid the expected confrontation, I use the "pox on both their houses" point of view. If I were to do otherwise, what value would be gained? As has been recently pointed out, nobody can even agree on objective facts. On that other hand, is this like failing to call-out racial bigotry for fear of confrontation?

Mike Peterson

Dear Dave From Phila:

This is a time when silence speaks louder than words.

While there's no obligation to confront, for instance, someone who tells a racist joke, there's a difference between offering a somewhat less offensive one yourself in the name of good fellowship and simply failing to laugh (which is a non-confrontational squelch).

Similarly, rather than adopt a conciliatory but false position, might I suggest you respond, "Please pass the sweet-and-sour shrimp!"

Ann Landers

Dave from Phila

Mike, well put. But my disingenuousness is even worse. I now have the internal chutzpah to publically confront various "isms" including race, religion, even something like creationism ~ and I do. It is the current situation in Washington that I avoid. Not completely sure why. I will try the silent treatment. More honest.

Sherwood Harrington

Where's Dann?

Mark

"Dave from Phila" is David Brooks, and I claim my £5.

Mary in Ohio

Dave from Phila : He who fights and runs away/ Lives to fight another day. Ogden Nash? Oscar Wilde? Steven Crane? I have no odea who said it, but sometimes it is a sensible thing to do. Especially if you have to go on having interactions with those people.

Dave from Phila

David Brooks? I wish I were that intelligent and conversant. Thank you Mark. And Mary - yes - that is the issue. I direct a civic concert choir in the NW suburbs of Phila. Where I have played the "pox on both their houses" is the post-rehearsal watering hole. I could lose singers and even Board members. I'll just keep my mouth shut.

Dann

Dann is busy and seriously regrets not being able to participate in several recent posts here.

He also deeply appreciates being remembered so affectionately.

He also recalls that we had ~US$85B in tax increases back in December. He observes that we now have ~US$85B in spending cuts; albeit poorly focused cuts.

While he objects to a 50/50 ratio, that relationship should represent "balance" to any reasonable observer.

Dann hopes to stop posting in the third person sometime soon.

BRFYMHS,
Dann

gezorkin

He who fights and runs away/ lives to run away another day.

-- Maverick

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