Monday, December 6, 2010

Pulitzer Prize Winner?

Did you happen to catch that sham piece out of the NY Times America's Least Hated Banker on Jamie Dimon, tutored spawn of Sandy Weill?  Sadly, this is what passes for independent journalism. Actually it is more like what passes for entry level course study on History Revisionism 101. Pulitzer prize winner? Obviously I don't know Pulitzer prize winning material when I see it I am sure.

Here's a real gem from Lowenstein in this Times masterpiece, which could be more appropriately entitled, "Blowing Sunshine up His Ass, A Grovelling View of Jamie Dimon";

'Dimon sees himself as a patriotic citizen who helped his country in a time of crisis. Now the most visible face of Wall Street, he thinks banks and bankers have a role not only in rebuilding the economy but in coming up with remedies for the financial system.'

Yup, burn down the house and then show up to later help put the fire YOU CREATED ! Then, as only a sociopath can do, claim you're a patriot! Obviously they must define patriot much differently at Harvard than I do. Either that or I am too stupid to comprehend utter horseshit which is then passed off as logic. Did I tell you I am not an Ivy league graduate? That might explain my difficulty with it.

I wonder what the likes of Jefferson, Franklin, Hancock and other founding fathers would have done with the likes of a Jamie Dimon? The thought of being lumped in with Dimon as another patriot of this great country. Me thinks they might have a few "issues" they would want to discuss with Mr. Dimon.

Sadly faux journalists like Lowenstien, alongside countless others, have no qualms about canonizing Dimon and others of his ilk. At least Lowenstein, avoids pulling a Mishkin, and has the sense to admit in the article he is a team playing shill;

"(A disclosure: my mother is friendly with Dimon’s parents.)"

Now there's a shocker! 

I have a phrase for the author Lowenstein and the NY Times to look up when they have a moment. The phrase, 'Conflict of interest'.

I can still hear CNBC's Michelle Caruso Cabrera lamenting the idiot bloggers who according to her;
  • don't check their facts, 
  • can write anything they want and 
  • are accountable to no one. 

Maybe the real idiots, Ms. Caruso-Cabrera, are the ones who still cannot figure out why so many of the Prozac/Ritalin/Ambien-free masses are turning to the net and bloggers for independent analysis. 

Gee I wonder why?

Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".

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Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
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Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
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Long 1 unit U.S. Dollar Bull ticker UUP @ $22.56 stop @ $21.44
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Long 1 unit Barclays 20yr Treas Bond ticker TLT @ $95.61 stop @ $94.69

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