Thursday, November 10, 2011

My Two Cents

Who didn't like a Joe Paterno or in the very least have the utmost respect for him. An entire career at one institution? Come on. With thug coaches out there like a Jim Tressel, a Gary Barnett, a John Calipari, a Bob Huggins, or a Bruce Pearl? How could one not admire Joe Paterno? I remember the story of when approximately 8 of his players got in trouble and he made the whole squad clean up Beaver Stadium after a game there. Some principle, or so I thought.

Those days are over now. You all know the story surrounding this and the fact that Joe Paterno knew and punting to someone else is shocking. This is not only a man who is a molder of young men but is the grandfather to approximately 16 children. Wonder if he would let Sandusky baby sit them?

We now have the President of the school and most probably chief Joe Paterno ass kisser now fired in disgrace for the cover up. We learn that Joe Paterno is now toast, having been fired. So what does the student body of Penn State do in response?

They riot. Not because they are upset at the cover up, not because they're upset at the buggering of 10yr old boys plural, no, these simpletons riot because the board of the school fired their beloved football coach. I have seen some crazy shit in my day but this is off the charts.

The phrase shit for brains really comes to mind. This is yet another example of what happens when a society flakes out and there are no consequences for anyones actions. Lots of laws, lots of rules but no enforcement. Lots of slaps on the wrists, lots of you were a bad boy here now pay a fine, lots of sit out a few games so everyone thinks we're sorry for exploiting a few more kids.

People cringe and think I am a lunatic when I drop the phrase "we need a few guillotines" around. I have said it before and will say it again, none of this matters until it happens to your loved one. Only then does the idea of a few guillotines not seem so bizarre and draconian.

I would start by placing a large visible one outside the NYSE.

You think the investment bankers at JP Morgan would have done the financial rape of Jefferson County Alabama had that guillotine been present? For those interested Jefferson county commissioners voted 4-1 to declare bankruptcy late yesterday.

I happened to read today a federal judge questioned the SEC about a settlement they reached with financial terrorist organization Citigroup. In what must be the umpteenth hundred time I have read a version of this story before, the judge questioned why the SEC only wanted $160 million restitution in illicit profits when investors lost approximately $700 million in the deal.

Check out what Citi's lawyer Brad Karp had to say when asked by the judge if the company admitted to the allegations brought by the SEC .... he replied;

"the company doesn't. If its any consolation, we don't deny them either"

What people miss is that when there is the threat of a guillotine which is a loud megaphone announcing consequences, people -or at least most sane rational ones - may tend to weight their decisions more carefully.

Just my two cents today.

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