A hedge-fund manager's "investor letter" -- really more of a staged, theatrical tantrum -- has been getting a lot of attention lately. Daniel S. Loeb's diatribe demonstrates that banker greed is still out of control, and that it's as shortsighted and destructive as ever. The fact that Loeb is a registered Democrat and former Obama supporter doesn't matter as much as some people think. It's the same old story: Politics is just a means to an end, and the end in this case is self-enrichment.
Recent financial pieces over there (I feel bad - I think I was too rough on Orszag. Breathe, Eskow, breathe!!)
Been lazy lately about cross posting this stuff. And I've completely forgotten to mention them on Twitter or Facebook. That makes me something of an "antisocial media" type, which is unsurprising. Here they are, too old to be new and too new to be "vintage." Here's some Social Security material (and yes, I know that is not what "irony" means, except in popular misuse. So tell me: What word does express what I'm trying to say?)
I appeared on the Stephanie Miller Show yesterday with guest host John Fugelsang to discuss Social Security and the Deficit Commission. He'd seen my piece on the fact that the Commission members who want to cut retirement benefits all have excellent retirement plans themselves, thanks to Uncle Sam (ie, us).
The exchange at the very start of the interview won't make sense if you didn't hear the joke John had just made about people who use the word "the" when they shouldn't and don't ... oh, forget it. We started out kidding around and talking about the personalities involved, but wound up getting to the real point: Everybody who works hard should be free from financial insecurity when they retire, especially when you consider the fact that Social Security doesn't contribute to the deficit.
Not. One. Dime.
(See what I did there? I separated the words with periods and capitalized each one. That indicates that I said it very firmly. That's how we do things on the Internet.)
Click above to hear the interview.
From Monday ...
Sam Seder and I guest-hosted The Young Turks yesterday and spent our last few on-air minutes talking about Social Security and the Deficit Commission. We were discussing the fact that Simpson's personally objectionable behavior is only one aspect of the problem. There are more fundamental problems with the composition of the Commission, as well as its biased approach to Social Security. See for yourself:
Our exchange was triggered by our interview with Ashley Carson, the Executive Director of the Older Women's League, who was the target of Simpson's infamous "cow" email:
If you want to take action (and who wouldn't?), you can sign this petition asking Congress and the President to remove Alan Simpson and take Social Security away from Deficit Commission.