STEELERS WIN!!!

What a game! I apologize to Steelers Nation for almost jinxing the whole thing. I was watching the game with a bunch of friends and after Harrison returned his pick for a TD, I told one of my buddies - who was leaving during halftime - that I'd be wearing my Terrible Towel at work today. I thought it was over. There was no way Arizona was going to recover from that. Sure enough, they recovered and almost won. From now on, I'll keep my mouth shut. Until next year, then, enjoy the smell of victory. Kind of smells like pee and Gatorade, maybe that's what the "G" is all about.

Jon Stewart and I Think Alike

Back in September 2008, I proposed a solution to the financial crisis. In essence, I said the gov't should buy distressed properties, take over those mortgages, and have the owners pay them at a reduced interest rate. Yes, some would fail, but it would ease the tension that the financial world is feeling, would result in a net financial gain for the government, and would relieve the homeowners as well. Brilliant, I know and I don't even have any econ background.

Well, the other night on the Daily Show, Jon Stewart proposed his own bailout solution and it's obvious we're both geniuses.

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In essence, he proposed that instead of giving trillions to idiots like Sandy Weill of Citi and John Thain of Merrill, we give trillions to homeowners and let them use that money to pay down or off their debts, be it mortgages or otherwise. This, he said, would basically be like pressing the reset button. People would be out of debt (or less so) and would thus have money to spend, which would stimulate the economy. Also, financial groups would have their "bad" assets paid and their balance sheets would return to normal.

So, maybe Stewart and I should join the Treasury Department and start solving the problems of this country, instead of letting morons with lots of degrees flail around incoherently.

Madoff Explained?

I'm not Jewish. I have many Jewish friends. I was speaking with one of them recently regarding two clients I work with. They have the same type of business, similar personalities, and there seems to be an obvious synergy - to use the lame corporate buzzword of 2003. So, I asked, "why don't they just partner?" My friend almost laughed at me. His answer was simple. One of them isn't Jewish. So, I asked for more explanation. In an nutshell, my friend explained that Jewish people tend to only trust other Jews in business dealings because Jews will tell it straight to your face while non-Jews will pretend everything is fine and then stab you in the back. Obviously, not all Jews adhere to this "rule" and it is rife with holes, but my friend explained it is a widely held view.

This may explain why so many people - especially Jews - were ruined by Madoff. They trusted the guy because he was part of the tribe. I guess stereotyping doesn't work too well in the investment world, either.