Have the grifters on Wall Street found yet another mark?

The Los Angeles Times has a damning piece explaining how our good pals at JPMorgan & Chase have allegedly manipulated the electricity market in California and perhaps in the Midwest as well, stealing hundreds of millions of dollars from consumers and businesses and depositing it in the accounts of JPMorgan, pretty much risk free.

The focus of the alleged scam is the California Independent System Operator, which fulfills the state’s energy needs by taking bids from private power marketers to provide electricity to the state.

Here’s how the Times explains it (and don’t worry, it’s not as complicated as it may seem):

“The alleged scheme involves two related wholesale electricity markets maintained by the ISO. There’s the day-ahead market, in which power plant owners place bids to provide power for the California electricity grid in the future; and the real-time market, an auction market through which ISO buys electricity for immediate distribution to homes and businesses.

To give plant owners an incentive to participate in these auctions, ISO guarantees to cover their costs for starting up or running their plants at a minimal level, even if their bids aren’t accepted. This is known as “bid cost recovery.” ISO rules allow bidders to claim payments of up to twice their real costs.

In simplest terms, JPMorgan submitted bids in the day-ahead market that were so low the firm was certain to be accepted onto ISO’s roster of potential electricity suppliers — in fact, they were negative bids, essentially offering to pay ISO to take their electricity…. ISO believes that JPMorgan never intended to make that sale, but the beauty of its low bids was that they made it eligible to collect bid cost recovery payments.

The next step was for JPMorgan to make sure that ISO didn’t actually buy its electricity, presumably because the profit margin from the bid cost recovery claim was greater than from actually selling energy. So in the real-time market, it priced its electricity so high that ISO wouldn’t buy it.

The bottom line, the ISO says, is that JPMorgan’s traders never intended to sell it electricity via these bids. The scheme, it says, seems to have been designed purely to capture a bid cost recovery payment the bank didn’t deserve, at a rate that was inflated anyway.”

In other words, pretend that you’re ready to sell electricity at a low rate; collect a handsome fee for pretending to sell electricity at a low rate; then bid high to ensure that you never have to actually provide that electricity.

Repeat, day after day, collecting some $57 million in improper payments in just six months between 2010 and 2011, with more such payments perhaps yet to be discovered. Free money!!!

But of course, it’s impolite to even notice that Wall Street continues to rip us off in a seemingly endless series of scams. To do so is to be anti-capitalist, even socialist. So forget I said anything, will ya?

– Jay Bookman

835 comments Add your comment

They BOTH suck

July 19th, 2012
4:42 pm

josef

I see, but holding back for now

They BOTH suck

July 19th, 2012
4:43 pm

josef

As for Muslims, it would be nice if we had a regular or two.

We could all get some different perspectives and without mention a few fireworks.

BADAss BING

July 19th, 2012
4:44 pm

I get to have fun and enjoy life without doing anything because others did it for me. This must be what slavery was like for the plantation owners. No wonder it was so popular!

Joel Edge

July 19th, 2012
4:44 pm

Does President Obama still have high praise for this bunch? Just asking.

Recon 0311 2533

July 19th, 2012
4:45 pm

Carlos,

Tell you the same thing I told Joe…you have the right to believe or disbelieve. I have no authority to challenge your personal choices and for you, likewise.

getalife

July 19th, 2012
4:45 pm

Lost 9 million jobs.

cons expect a different result.

The Speaker agrees with our President.

No military action in Syria.

They are fighting for their freedom.

larry

July 19th, 2012
4:47 pm

Guess all of the followers of Islam are not blogging today.

They are in line waiting for their ” In Allah We Trust” stickers that they can put on their car tags.

But , isnt that the state promoting religion?

Nahhhhhhhhh, they wouldnt do that. Would they ?

josef

July 19th, 2012
4:47 pm

BOTH

I have a couple of colleagues who are Sufi…oughta see them tangling with the Sunni or Shia…makes a fracas between Catholics and Calvinists look tame! :-)

Joe Hussein Mama

July 19th, 2012
4:49 pm

Doom — “I’ve never seen one turned away at any restaurants in my life Joe.”

Well, good for you. I have.

“Perhaps you would be better suited putting away your imagined racial boogeyman.”

And perhaps you’re just sheltered, Doom. Maybe you haven’t seen and experienced quite as much as you think you have.

“Its making you look stupid.”

Oh, Punkin, I don’t worry too much about what *you* think looks stupid. :D

“Nope. From what I’ve seen today and of late you sure seem to love playing the race card.”

Yes, well, you haven’t been around here very much in the last couple of weeks. Then again, you’ve never let ignorance slow you down before.

“Can’t get enough of it can ya?”

No, I love it when you post back at me, chew-toy. I know I’ve told you that a lot lately. :D

“Nope. That’s just you in all your grand self righteousness and your supposed mind reading ability throwing out your usual race card.”

Shrug. Sorry that hurts your feelings, Doom. Didn’t mean to step on your ego. (laughing) :D

“And as has been explained to you numerous times chick fil a does not discriminate.”

Explain whatever you like. Without proof it remains just anecdotal evidence and one person’s opinion. (giggling) :D

“Their owner simply expressed that he does not believe in gay marriage due to his religious beliefs. Period. And here you trot out with your deck of racism cards. Sheesh.”

Silly, silly Doom. Why would I accuse CFA of “racism” when their public actions weren’t aimed at anyone’s *race?* (laughing) :D

How old are you, Doom? Do you have some kind of rider on your medical insurance to help you out if you’re diagnosed with Alzheimers?

“Not referring to JR. I’m referring to your comment to me that maybe I would be more comfortable eating at a BBQ restaurant that to paraphrase doesn’t like serving Hispanics.”

Didn’t say Hispanics. (laughing, pointing) :D

“It was an overt suggestion of racism and it had no place in the conversation. You simply decided to start trotting out your strawman racism card again. There was no reason for that.”

You’ve already admitted to not wanting to eat while sitting next to liberals, Doom. Who else don’t you like eating next to? Tell us. :D

“Please point out to me where I am expressing glee over entire groups of people being excluded from the dinner table?”

Right here, Champ:

“In any event knowing that many liberals won’t be eating there should make for a very pleasant fast food dining experience.”

http://blogs.ajc.com/jay-bookman-blog/2012/07/19/have-the-grifters-on-wall-street-found-yet-another-mark/?cp=6#comment-1018942

“I express no glee in this. I do express glee in laughing about your poutrage.”

Silly Doom. (giggling) :D

You’re more upset about people deciding not to patronize CFA than I’m upset about anything here. Go back and look at my posts from pages 1-6. I’m calm, cool and rational about it. I only get started up when you commence to whining about people who aren’t going to CFA any more.

“Your ridiculous assertion is erroneous for 2 reasons.”

What assertion’s that, Doom? Spell it out. I want to make sure this is something I actually said and not something you made up, as usual.

“Number one any gay person that wants to can walk right into chickfila and order a sandwich. Nothing is stopping them so put away your poutrage.”

(laughing, pointing) :D

You’re more clueless than ever, Doom. :D

Why would I be upset about someone visiting CFA. even a gay person? I’ve clearly said more than once on this thread that others are free to make their own decisions about this.

“Number 2 is that my only defense of Mr. Cathy is his right to say what he feels and if he feels that gay marriage is wrong then that’s his damn right to feel that way.”

I know. I’ve already agreed with that.

“You don’t like it that’s just tough.”

Doom, I seriously think you need remedial reading classes. Either that or you actually need to stop and read the things I post. (laughing) :D

I’ve already *said* that Cathy can have any views he wants — but I draw the line when he involves his business. That’s quite different from how you’re trying to misrepresent my position. Then again, you have a problem with honesty, so I shouldn’t be surprised/

” It doesn’t mean that he hates gays or is bigoted as many on here have suggested.”

Did *I* suggest that? :roll:

“You need to get out of your own narrow minded thinking and realize that just because someone doesn’t believe the same things as you doesn’t make them a hateful bigot as many of you liberals have asserted.”

Did *I* assert that? :roll:

“And put away the race card Joe. Its old and tiresome. Especially with the frequency with which you use it.”

Doom, I can’t take you seriously any longer. If you’re not going to read what I say and if you’re going to misrepresent my positions, then there’s not much point in treating you any differently from how I treat Fishy or Ragnar or the rest of that pack.

UShouldTalk

July 19th, 2012
4:49 pm

The best S-E-X i ever had was from this little “christian” girl. She told me she’d never, never, never, ever, ever, EVER, done anything like that before; but she sure fooled me!

She was all like, “I’ve never EVER been with another woman! Why it’s a SINNN…..”

Imagine my surprise, when I found out that she had not only done “that” before, but she could give lessons.

josef

July 19th, 2012
4:49 pm

larry

No it’s not. It’s a matter of choice. The state is not forcing anyone to purchase and or use such a tag…

Keep Up the Good Fight!

July 19th, 2012
4:51 pm

“Try to run your govt for a week without using infrastructure and services provided by the taxpayers.” It only took one word to correct keep up’s typo.

Sometimes a poster says something so astronomicallasininene that it not only wins the “wtf? post of the day” but really a serious response is just not needed or possible. Congrats Doom on THAT post!

Joe Hussein Mama

July 19th, 2012
4:51 pm

Recon — “I know who I am and never said that Christian faith provides us with authority over others.”

I didn’t say you claimed it. I asked you if you *thought* it. Do you?

“I merely pointed out why we believe as we do. If you don ‘t like how or what Christians believe that’s your right but it’s not your right to challenge those beliefs.”

Actually, I have every right to challenge your beliefs. You have no right to have your beliefs stand unquestioned and unchallenged — especially if you’re going to wave them around at others.

cloudodust

July 19th, 2012
4:51 pm

The moochers have found their mark and it is us…Hey, I have a great idea. The moocher class ought to unionize, have a voice and all that rot. Now, I don’t mind helping those that need a little assistance to get over the hump but to make mooching a career is a downright shame. Those on Wall Street and those punching a clock have nothing to feel guilty about compared to the shameful taking class. Unlike the person I know that has made a disability career out of carpel tunnel, at least the Wall Street bunch et al are out there helping the cheaters get theirs by paying into the system.

josef

July 19th, 2012
4:52 pm

UShouldtalk

That’s not confined to just Christians…I’ve run into it with just about every faith or lack thereof!

Doggone/GA

July 19th, 2012
4:52 pm

“No it’s not. It’s a matter of choice. The state is not forcing anyone to purchase and or use such a tag”

Now…when it comes to our MONEY, that’s a horse of a different color

They BOTH suck

July 19th, 2012
4:53 pm

JHM

There was this one time several yrs back that I was eating lunch at a small sandwich shop outside of Clatyon Ga. The placed served beer but not liquor. I asked the owner did anyone in Rabun Cty serve liquor. He said no one except “private clubs”. (that might have changed by now) I said ok and forgot about it.

Before my gf at the time and I left, the owner asked where were we eating dinner that night. I told him I didn’t know. He invited me to the VFW. He was a member and his cousin ran the place. We took a chance and went that night. Met a lot of good folks and had a great time. Bunch of white N Ga folks, of course a few FL folks who live there in the summer and my half bread self.

What a time it was.

larry

July 19th, 2012
4:53 pm

Actually it is josef….

Because you can only get one sticker that says ” In God We Trust” .

Try going up to the tax commissioners office and ask, ” Can i have a In Allah We Trust sticker please?” and see how far you get.

Obambarrassment

July 19th, 2012
4:54 pm

“So now you see, Lonestar. Evil will always triumph, because good is dumb.” –Lord Helmet from Mel Brooks’ Spaceballs

Dumb like California.

What’s amazing, Mr. Bookman is that there are any number of reasons that California had blackout issues that destroyed the administration of Gray Davis, originally in 2000 – 2001. Many of those reasons are extreme attempts at government control, resulting in a complex partial deregulation of a power system market that few then understood and few now comprehend.

What is clear about the energy market we learned nationally from the price controls and market caps that created the artificial gas shortages of the 1970’s. California didn’t remember this lesson however, in its attempts to focus on all kinds of good intentions at the expense of performance and efficiency. California never realized it would create the same problems for itself again and again with idiotic half-measures compiled over decades into a mess of bureaucracy. But for realizing that, it’s full steam ahead for utopian regulations and the resulting problems, shortages and cost increases.

ENRON executives understood it though, even better than the geniuses in Sacramento, however, and they and many others took advantage of governmental fecklessness and stupidity to create an artificial shortage, a needless crisis and $50 billion or so dollars.

Did the Enron folks do something morally wrong? Yes, they did. Do state Democrats care about the fact that essentially, their public money is simply, lying around for perfidious men to come and grab? No. They didn’t then and they still don’t. They say the road to hell is paved with good intentions. So’s the road to power shortages and graft.

No, Sacramento obviously doesn’t, nor do you, the media ever point out that an insane system carved out by California’s special interests and liberal bureacracies may be the problem, and the real victims are the people of California. The elected officials, many of whom place more value on hugging trees, as a goal of power generation than they do power generation, couldn’t conceive that their stubbornness will always attract graft where it can be gotten easily.

Seems to me like the Californian people are getting just what they deserve, a state where power costs are probably sky-rocketing, a state that has a strong commitment to the environment, the results of which are unclear, and a state where their leaders always have someone else to blame for their troubles, the results of which are all too clear.

Looks like that what Obama said last week was true for California. “If you started a business, you didn’t build that.” Right on. Only the tree-hugging do-gooders in the Golden State could concoct a crazy half-regulation, half cap and price-fix scheme so complex that it put its own citizens on the hook for outrageous bills.

They BOTH suck

July 19th, 2012
4:54 pm

JHM @ 4:51

agreed

getalife

July 19th, 2012
4:54 pm

We could use some sectarian Muslim arguments.

I like the idea of confessing on obituaries.

UShouldTalk

July 19th, 2012
4:54 pm

And perhaps you’re just sheltered, Doom. Maybe you haven’t seen and experienced quite as much as you think you have.

It’s called socially inept – not sheltered. All Doom’s friends don’t talk back, are all white, you can blow them up and are made of plastic.

He’s tried, oh so hard, to find real human friends; but alas, no one wanted to play with the kid who wets himself all the time or who eats his boogers in public.

josef

July 19th, 2012
4:54 pm

It’s sorta like this: I have nothing against (Christians/homosexuals), I just wish they wouldn’t wave it in my face and stay in the closet and keep it out of my sight…same tune, different dance….

They BOTH suck

July 19th, 2012
4:56 pm

And there was also one country dude for Iowa who owned a plumbing company in Cumming

He was a riot.

Doggone/GA

July 19th, 2012
4:57 pm

Try going up to the tax commissioners office and ask, ” Can i have a In Allah We Trust sticker please?” and see how far you get

“Islam the Muslim name for God; the one Supreme Being”

Allah = God, there’s no reason Muslims could just use the English translation version

They BOTH suck

July 19th, 2012
4:57 pm

josef

good point

point, counter point, point

Kamchak ~ Thug from the Steppes

July 19th, 2012
4:58 pm

Doomy’s getting pwned.

Big time, and from all sides.

Just sayin’.

Obambarrassment

July 19th, 2012
4:58 pm

getalife,

They are fighting for their lives.

josef

July 19th, 2012
4:58 pm

larry

There are states that permit any number of legends, even those of your own design. They are, however, subject to request review…it would be interesting to see if the one you propose, given a petition campaign requesting it be made available. would fly…

Doggone/GA

July 19th, 2012
4:59 pm

oops! “Muslims could ” – meant to say “couldn’t”!

Obambarrassment

July 19th, 2012
4:59 pm

Doggone,

Wonder why they don’t?

My suspicion is that they would and do when it suits them.

Thulsa Doom

July 19th, 2012
4:59 pm

keep,

Glad to see you realize just how insanely dumb your post was. Funny but mine was only one word different from yours. Do try and make some sense sometime sport.

Doggone/GA

July 19th, 2012
5:00 pm

“My suspicion is that they would and do when it suits them”

Well, being the contrarian I am…if I was Muslim I would do it just go confound all the bigotted “Christians” around

Thulsa Doom

July 19th, 2012
5:02 pm

Ushouldtalk,

Come now ma’am. You can at least elevate yourself to a 6th grade retort from a 3rd grade retort.

josef

July 19th, 2012
5:02 pm

Doggone

That is an interesting point you bring up. Most of the Muslims I know use the term G-d in their daily speech in English, and reserve All-h for the religious aspects. Among Arabic speaking Christians and Jews, the term All-h is used in daily speech.

Obambarrassment

July 19th, 2012
5:03 pm

“Bid cost-recovery claim”

–the element of California’s stupidity for the day.

Just fill out this form and we’ll send you a check.

JP probably didn’t something wrong, but my guess is that it wasn’t illegal.

Nice occasion for liberal complaining though.

larry

July 19th, 2012
5:03 pm

Doggone/GA

July 19th, 2012
4:57 pm

How about Buddah ? ” In Buddah We Trust? ”

Cant get one of those either.

They BOTH suck

July 19th, 2012
5:04 pm

josef

How did you like my race relations event up in Clayton?

Joe Hussein Mama

July 19th, 2012
5:04 pm

0311, you know good and well I don’t bear you or your faith any ill will.

If you want to go to church twice a day and three times on Sundays, knock yourself out.

If you want to send your kids to church schools, go right ahead.

If you want to have five Christmas trees in your yard, fine.

I don’t even care if you want to go around proselytizing and inviting people to services.

I don’t care what you do in the pursuit of your religion so long as no one gets hurt.

BUT

I don’t recognize any authority on your part or your faith’s part to sit in judgment of others and expect any kind of aquiescence or submission. If you don’t want a gay couple living in your neighborhood, then you’d better buy the house before they close on it. If you don’t want the pagans down the street to have a bonfire in their yard on the winter solstice, you’d better hope that you can get the city council to deny them a burn permit before all the councilmen take off for Christmas. And if you don’t like beer on Sundays, then don’t go buy any.

AFAICS, religion is in *individual* matter, and even the Founders knew this — that men must be free to follow the dictates of their consciences in that regard.

What does it say about you if you’re expecting others to subordinate *their* consciences to *yours?*

pogo

July 19th, 2012
5:04 pm

Didn’t Obama name a guy named William Daley of JP Morgan Chase as his Chief of Staff for a while? Or did I just imagine that? And Daley’s departure from the Whitehouse was his own decision based upon how screwed up the inner workings of the Obama whitehouse were? Jay, if I were you, I would have chosen another topic because this one looks really, really bad about the decision making of your boy Obama. Or how corrupt he is, which is closer to the truth. This is just like Obama bringing in Geithner, a lifelong tool of big business and Wall Street as the Treasury Secretary. Obama loves to bring in those foxes into the henhouse doesn’t he? Why, do you suppose?

Doggone/GA

July 19th, 2012
5:05 pm

“Among Arabic speaking Christians and Jews, the term All-h is used in daily speech”

I think there are FAR too many so-called “Christians” who are choosing to ignore that Jews, Christians, Muslims…ALL worship the SAME God.

Keep Up the Good Fight!

July 19th, 2012
5:06 pm

Doom loses again so he goes major nonsense…. :lol: :lol: :lol:

He still can’t face the fact that he conceded the President was right. :lol: Oh well, off to deal with real issues.

Thulsa Doom

July 19th, 2012
5:06 pm

Joe Mama,

I’ll get around to reading your novel soon enough. All I want to know is why we were talking about Cathy’s comments and then you resorted to your usual race baiting with the BBQ restaurant comment which had nothing to do with the point at hand. Is your game that weak that you jump to the race card for no reason at all. No novel is needed. Just want to know why you brought out the race card when race had not a damn thing to do with our conversation about Cathy. This should be interesting.

JamVet

July 19th, 2012
5:07 pm

The only license plate that I would ever own would say, “In JamVet I Trust. (You can keep your mythology!) “.

The country was forever changed and dramatically improved in Dayton Tennessee in 1929, when Clarence Darrow noted that “We have the purpose of keeping bigots and ignoramuses from controlling the education of the United States”.

And especially for the past fifty years or so we have done a much better job in this country of keeping the Klan Kristians and other religious nutjobs under control. As long as that trend continues, I’m OK with their blustering and for the most part, impotent rage…

They BOTH suck

July 19th, 2012
5:07 pm

“If you want to have five Christmas trees in your yard, fine.”

Well that is actually derived from Pagans, I believe, but I digress.

:-)

Thulsa Doom

July 19th, 2012
5:08 pm

“He still can’t face the fact that he conceded the President was right.”

Oh my God. Living proof of a liberal kook who actually thinks Obama was right about somebody else building someone’s business. Priceless!

Redneck Convert (R--and proud of it)

July 19th, 2012
5:08 pm

Imagine my surprise, when I found out that she had not only done “that” before, but she could give lessons.

Well, my advise to any young man is to go to one of those co-ed Christian colledges if you really want to get worked over the full treatment by a young woman. They’re experts at it and they’ll pray for your soul after they’ve left you panting for breath. And I don’t see why any man would go to any dating site besides ChristianMingle.com—that is, unless you’re Gay or something.

The things you get to learn after it’s too late to do anything about it. Sigh.

josef

July 19th, 2012
5:09 pm

THULSA

“All Doom’s friends don’t talk back, are all white, “.

I guess that part of your family aren’t your friends, eh? :-)

BTW met one of “your people” today from Serbia….interesting conversation…

BOTH
Clayton relations? Not exactly following that…catch me up…

They BOTH suck

July 19th, 2012
5:11 pm

josef

I was reading the back and forth about the racial issues, so @ 4:53 I put in my 2 cents on a time I was up in Clayton

Joe Hussein Mama

July 19th, 2012
5:12 pm

Doom — “I’ll get around to reading your novel soon enough. All I want to know is why we were talking about Cathy’s comments and then you resorted to your usual race baiting with the BBQ restaurant comment which had nothing to do with the point at hand.”

I don’t race-bait, your blithering comment and run-on sentence nothwithstanding.

You made it clear that there’s at least one group of people you don’t care to eat with. I’d like to know what *other* groups of people you don’t care to eat with. As they say on Law & Order, ‘you opened that door, Counselor — I’m just letting opposing counsel walk through it, too.’ If you don’t want to be quizzed on that sort of thing, then maybe you should keep your mouth shut about what kinds of people you don’t want to be seated at a dinner table with.

“Is your game that weak that you jump to the race card for no reason at all.”

Nope. Racist comments from cons have been on the increase here lately. Perhaps y’all should guard your tongues a bit more carefully, lest we catch on to some subtext you don’t want us picking up on.

“No novel is needed. Just want to know why you brought out the race card when race had not a damn thing to do with our conversation about Cathy. This should be interesting.”

Read and learn, little one.

josef

July 19th, 2012
5:12 pm

Sign seen in a business

“In G-d we trust. All others pay cash.” I want me one of them…

Obambarrassment

July 19th, 2012
5:13 pm

My proposition, Mr. Bookman is that the fear generated by liberal leaders has cost the country far more money than the fear of gun rights being taken away.

What gets more airtime?

We all know that fear of corporations destroying the environment is the operable theme in California politics, your column and a common theme everywhere in Obamaland, DC and what you would call the mainstream press. Gun ownership is hardly even mentioned by the bigger talk radio shows.

Looks like the California people are paying far far more in their one state for being played on their fears, paying far too much for a product/service they have to have than gun owners ever could be in buying products they want.

The fear of corporations through the increasing regulations that will surely come out of California makes clear that fear of corporations costs far more than fear of government regulations.

It also refutes your implication that gun-buyers are stupid.

larry

July 19th, 2012
5:14 pm

I guess if you start your business with a loan from the Small Business Administration, then the government didnt help build your business either.

Joe Hussein Mama

July 19th, 2012
5:14 pm

TBS — “Well that is actually derived from Pagans, I believe, but I digress.”

I thought it was originally Thor-worship? P’raps both played a role.

FWIW, my wife’s got a pagan friend in her crafts group. Wifey says “it’s no sillier than any other religion.” :D

BADAss BING

July 19th, 2012
5:17 pm

Jam vet………. in case you missed it.. July 24 at a theater near you that shows Fathom Events …The Who complete Quadro performed in 1973. Google Fathom Events schedule, punch in zip code for theater near you. Around $12 near me, cheaper than seeing them live. Includes commentary by Townsend

Joe Hussein Mama

July 19th, 2012
5:17 pm

Thulsa Doom

July 19th, 2012
5:19 pm

“Doom, I can’t take you seriously any longer.”- Joe Mama

Joe Mama,

Well Missy that makes us different considering that I never took you seriously to begin with.

Its nice to know that you take me seriously enough to practically write a book to me and that I warrant that kind of attention. I would respond in kind except that you’re just not important enough to warrant that much of a response.

They BOTH suck

July 19th, 2012
5:19 pm

JHM

I used to have a guy who worked for me who was a Pagan. He told me his beliefs were pretty close to Wicca.

I asked him the difference and he told me that Wicca is more organized and like “church” and that certainly wasn’t him.

:-)

As far as either one, I know very little.

Mama Says

July 19th, 2012
5:20 pm

Jay,

I ask this because I don’t know.

Who regulates the power/electricity companies in California and the bid process ?

TaxPayer

July 19th, 2012
5:23 pm

Cons on here probably still think Enron did no wrong.

BADAss BING

July 19th, 2012
5:23 pm

If you chop a tree down in the forest and no one is around, did the Gov’t help you?

Vast Right Wing Conspiracy

July 19th, 2012
5:23 pm

Go get those Democrats, Jay, that is who they are.

Joe Hussein Mama

July 19th, 2012
5:23 pm

Doom — “Well Missy that makes us different considering that I never took you seriously to begin with.”

I can tell, especially since I send you into meltdown just about once a week. When you’re not away on vacation, that is. :D

“Its nice to know that you take me seriously enough to practically write a book to me and that I warrant that kind of attention.”

Punkin, some of us just think and write faster than you do. It doesn’t mean that I’m into you or anything — just that you’re fun to play with, my little squeaky chew-toy. (giggling) :D

“I would respond in kind except that you’re just not important enough to warrant that much of a response.”

I know, I know. The big words make your head hurt. (laughing, pointing) :D

Doggone/GA

July 19th, 2012
5:24 pm

BTW – the subject of Jay’s blog puts me in mind of a quote from one of Dick Francis’s books (if this isn’t exactly right, it’s close): “What he did wasn’t illegal, but you’d have to have a law against it after he did it”

josef

July 19th, 2012
5:25 pm

BOTH
@ 5:11

Got it! I had missed the Clayton on reading it…and yes, I’ve had that happen more often than not.

I won’t ever forget once when I was travelling with a heavily melanin enhanced friend girl from Atlanta to Jackson. Her van started to go kerput and we had to pull off in Tallapoosa. It was July 4th and everything but one station was closed. The white boys there went and got the mechanic who opened up his shop, located the problem and called Bubba at the parts store who came down opened up and brought the part. It was taking time and the morning was wearing on. One of ‘em says, “y’all gotta be starving. Ain’t nothin open around here. Let me go see what’s ready over at Granny’s” and came back with two loaded plates of barbecue to make you slap yo Mama down and two quarts of iced tea. Was chatting with one of them, a fine looking specimen of Georgia country white boy with one of those soft and gentle accents. He wanted to know if “y’all live in Atlanta.” Told that I did, he said, that he had “gone over there when I got out of high school, but I didn’t much care for it. Too busy and the people ain’t always very nice.” Then apropos to nothing says, “I used to hang out at” and he named some gay bars and wanted to know “if you ever go there.” “Nope, me and Unmentionable don’t go to bars much.” “Probably a smart thing if you want to stay together. That’s why I moved mine back to Tallapoosa,” and he nodded over to one of the crowd gathered round under the hood…

All of the white boys, and all of them treating my friend girl like a princess…

One of the special moments of my life…

Thulsa Doom

July 19th, 2012
5:26 pm

“You made it clear that there’s at least one group of people you don’t care to eat with.”

Aaaah. Now I see. I mess with Joe about not wanting to eat with liberals and then Joe uses that as a pretext to spout some nonsense about a BBQ restaurant to suggest racism.

Come on Joe. You can do better than that. Ante up on why you insist on pulling the race card with absolutely no provocation. All I want is to see some justification from you as to why you decided to play the race card with no provocation to do so. You can do that right??? Nope. You can’t. Can’t lie or BS your way outta this one missy.

Doggone/GA

July 19th, 2012
5:26 pm

“If you chop a tree down in the forest and no one is around, did the Gov’t help you?”

Who regulates the quality and safety of the ax you use?

0311/8541/5811/1811/1801

July 19th, 2012
5:26 pm

From Jay: “But of course, it’s impolite to even notice that Wall Street continues to rip us off in a seemingly endless series of scams.”

From Me: “But of course, it’s impolite to even notice that the Obama administration continues to rip us off in a seemingly endless series of scams.”

JKL2

July 19th, 2012
5:28 pm

joe mama- “Your non-answer was to try and reverse the question. Typical of today’s DNC.”

-Why would anyone who has a job and pays taxes vote for a democrat?

Strike 5 and more dodging. You’re on a role…

Didn’t realize it would be so difficult for a brainiac like yourself to come up with at least one feable answer. Maybe I should be asking getalife?

0311/8541/5811/1811/1801

July 19th, 2012
5:28 pm

Talking about California:

Headline: “The tech giant is fleeing anti-business California for more friendly terrain”

“You don’t become the world’s most valuable company without being able to respond to basic economic incentives.

At least that’s what Apple Inc. is proving. The technology behemoth has purchased three large tracts of land in northwest Austin, Texas, where it reportedly plans to put a new operations center. The facility could represent a $300 million investment that stands to create some 3,600 jobs.

Gov. Jerry Brown and his colleagues in California should listen up. There’s a limit to how anti-business you can be before job creators decamp for greener pastures.

According to a survey of 650 CEOs by Chief Executive magazine, California’s business climate ranked dead last in 2012 — for the eighth year running. (You’ve got to admire that kind of consistency, we suppose.)

For starters, there’s the issue of taxes. As the Tax Foundation reports, California boasts the third-worst business tax climate — bested only by New York and New Jersey. At 8.84 percent, it has the highest corporate business tax in the West, as well as the highest sales tax in the country at 7.25 percent. This is to say nothing of a system of regulations with little sympathy for entrepreneurs and business owners.

Perched atop Chief Executive’s list of business-friendly states is — you guessed it — the Lone Star State. Aside from being a right-to-work state, it doesn’t hurt that Texas levies neither a personal income tax nor a corporate income tax. Lawmakers there are also known for a light hand when it comes to regulations.

And while Apple was given a number of financial incentives, it doesn’t take a brain surgeon — or a computer engineer, for that matter — to understand why the company chose pro-business Texas over tax-and-regulate-them-into-submission California for its new digs. We just hope Brown takes a lesson from this embarrassment. If he doesn’t, he might start seeing more tech titans trading in their Silicon Valley flip-flops for good ol’ Texas cowboy boots.”

http://www.thedaily.com/page/2012/07/19/071912-opinions-editorial-apple-campus-texas/

josef

July 19th, 2012
5:29 pm

DOGGONE

One of the old queens when I was a young Turk used to always say of certain behaviors, “It’s highly unethical if not illegal…” And our crowd picked it up and used it for just about everything we didn’t care for! :-)

Doggone/GA

July 19th, 2012
5:31 pm

“It’s highly unethical if not illegal…”

And I guess to bring it back to Dick Francis: he’d just add “yet” after illegal!

Joe Hussein Mama

July 19th, 2012
5:31 pm

Doom — “Aaaah. Now I see. I mess with Joe about not wanting to eat with liberals and then Joe uses that as a pretext to spout some nonsense about a BBQ restaurant to suggest racism.”

Well, Doomie, we’ll never know what other sorts of people you don’t like to eat with if you don’t tell us. Spill, Champ. :D

“Come on Joe. You can do better than that. Ante up on why you insist on pulling the race card with absolutely no provocation.”

Doomie, your skull’s really not that thick, is it? If there’s one group of people you don’t want to eat with, then it stands to reason that there might be others. What other groups of people don’t you want to eat around? Tell us. ;D

“All I want is to see some justification from you as to why you decided to play the race card with no provocation to do so. You can do that right???”

Of course. You started expressing a desire to not have people from a certain group around you while you ate. Perhaps there are other kinds of people you don’t want to be around while you eat? What other sorts of people do you not want to be around when you eat, Doom? (laughing) :D

“Nope. You can’t. Can’t lie or BS your way outta this one missy.”

You’re quite mistaken regarding who has something to “lie or BS their way” out of, Doom.

I want you to know how much I appreciate you showing us your true colors this afternoon, Doom. And just as soon as you’re ready to fill us in on any other sorts of people you don’t like to eat around, I’ll be more than happy to hear what you have to say on that topic.

BADAss BING

July 19th, 2012
5:32 pm

I use pocket knives to cut down trees, i use the ax on campers down at the lake.

0311/8541/5811/1811/1801

July 19th, 2012
5:32 pm

Jackie

July 19th, 2012
5:32 pm

For those who choose not to forget, think about an earlier CA electricity crisis caused by Enron.

http://www.nytimes.com/2002/05/09/business/09ENRO.html?pagewanted=all

JKL2

July 19th, 2012
5:33 pm

mama says- Who regulates the power/electricity companies in California and the bid process ?

Since Republicans have ran that state for decades, I’m guessing they’re to blame. (unless it was Bush’s fault).

They BOTH suck

July 19th, 2012
5:33 pm

josef

You just never know. While there certainly is racism, bigotry and prejudice all over, there is also a lot of great people in this world. Smallest towns to the largest cities

Joe Hussein Mama

July 19th, 2012
5:34 pm

JKL — “Strike 5 and more dodging. You’re on a role…”

Pitch all you want. If you’re not going to answer simple questions about what you’re after, I’m not playing your game.

“Didn’t realize it would be so difficult”

Nothing difficult about it at all. I asked you simple questions to clarify what you wanted, you were a jerk about it and I wrote you off. Shrug.

“for a brainiac like yourself to come up with at least one feable answer.”

Why should I play nice for you when you’re being a Richard to me?

“Maybe I should be asking getalife?”

Ask whoever you like. I’m sure they won’t be any more interested in dancing to your tune than I am.

BADAss BING

July 19th, 2012
5:36 pm

The AL shooter used a gun made by someone else, bullets made by someone else, shot thru glass made by someone else, at people drinking alcohol made by someone else. Did he act alone, or did someone else do that?

Thulsa Doom

July 19th, 2012
5:36 pm

“BTW met one of “your people” today from Serbia….interesting conversation…”

josef,

Were they Croatian and just from Serbia or Serbian? I had an interesting conversation at a barbeque a couple weeks ago with an acquaintance from my neck of the woods up in western PA and we talked about the Serbians and Croatians up there. Was this guy from Gwinnett county. There’s a little cluster of a few hundred Serbians that settled in Gwinnett.

BTW your take on chickfila is probably the best one here. I don’t even eat there much cause I’m just not crazy about their food. I eat there maybe twice a year. And I don’t necessarily agree with Mr. Cathy coming out publicly against gay marriage. The whole issue is a non-issue to me personally. And I don’t care that people want to boycott his restaurant as I feel they should if they feel strongly about their policies.

What I do resent and the single thing I dislike is this nonsense from the hard left on here that just because the man is against gay marriage that its because he is some sort of hateful bigot and not because of his religious views. I can’t understand why people on here have to automatically assume its all about hate as opposed to something that the man just disagrees with rightly or wrongly based on his religious views.

Doggone/GA

July 19th, 2012
5:40 pm

“that just because the man is against gay marriage that its because he is some sort of hateful bigot and not because of his religious views.”

They aren’t mutually exclusive. And you can have all the views you want. What a LOT OF US resent is the imposition of YOUR views on others who don’t share them.

They BOTH suck

July 19th, 2012
5:40 pm

Thulsa @ 5:36

I liken it to an extent to the fear and paranoia that was being expressed last night about Huma Abedin.

Not that exact same thing however some of the sentiments were surely the same

JamVet

July 19th, 2012
5:41 pm

BADAss, I saw your info earlier and checked it out. Ta, mate! U da man.

Do you really think I care
What you read or what you wear

http://www.youtube.com/watch?v=q_BpxrnZDs0

pogo

July 19th, 2012
5:41 pm

And this; http://www.fns.usda.gov/cga/FactSheets/reaching.htm

So we are partnering with a foreign government for their citizens to get foodstamps in this country? It’s not like we don’t already have enough of our own citizens abusing this program but now we are recruting illegals to engage as well.

0311/8541/5811/1811/1801

July 19th, 2012
5:43 pm

Headline: “USDA partnering with Mexico to boost food stamp participation”

Read more: http://dailycaller.com/2012/07/19/usda-partnering-with-mexico-to-boost-food-stamp-participation/#ixzz216i8JW4Q

Tundra Dude

July 19th, 2012
5:43 pm

Inmate #03118541581118111801, posted:

Talking about California:
For starters, there’s the issue of taxes. As the Tax Foundation reports, California boasts the third-worst business tax climate — bested only by New York and New Jersey

Oh look! Calif has taken Governor Romney’s spot. Mass was ranked 47th in Bizz climate, and 47th in job creation.
Maybe he’ll do the same for the US, with his “Baining of America” plan.

0311/8541/5811/1811/1801

July 19th, 2012
5:44 pm

pogo:

Ditto !!!

Thulsa Doom

July 19th, 2012
5:45 pm

“Well, Doomie, we’ll never know what other sorts of people you don’t like to eat with if you don’t tell us. Spill, Champ.”

Stinky people sport. I discriminate against stinky people.

” If there’s one group of people you don’t want to eat with, then it stands to reason that there might be others.”

Rejected. Pure conjecture and fallacious reasoning. God that’s some sorry logic. I’m embarrassed for you Joe. Is that all ya got? And speaking of a thick skull I find it difficult to believe that you take a tongue in cheek comment about me not wanting to eat with liberals to heart. Been eating with them, dating them, and drinking and carousing with them my whole life. Get a grip dude. I guess I’m going to have to go back to putting in my keep up tongue in cheek disclaimer statement regarding facetious statements, sarcastic statements, and tongue in cheek statements, Geez.

“I want you to know how much I appreciate you showing us your true colors this afternoon, Doom.”

Sure buddy. Stretching like Gumby again I see and making a leap longer than Carl Lewis’s long jump. Trying to establish racism over a jesting comment about not wanting to eat with you liberals. You cannot possibly be that stupid. You just can’t.

getalife

July 19th, 2012
5:46 pm

cons wish they are smart and accomplished like Huma Abedin.

She is way out of their league.

I had a conversation with a Cajun the other day.

Did not understand a word she said.

Mama Says

July 19th, 2012
5:47 pm

Now who is calling for regulation of Wall Street ?

CALIFORNIA PUBLIC UTILITIES COMMISSION

http://www.cpuc.ca.gov/puc/

The board in charge of regulating energy is appointed by the govenor and confirmed by the state senate. Of the five members 3 were appointed by Brown, a democrat, 1 by “the Govenator” and one by Gray Davis.

In other words control of the pricing and bidding process and rules overseeing it currently lies with the state democrats.

Facts that Jay left out and made me have to look up myself. Guess it was just an oversight Jay. I know you would have caught this fact if it were a republican board.

Seems the regulation party failed to regulate

JamVet

July 19th, 2012
5:47 pm

I’ve been to SoCal a few times over the past few years and their traffic problems are legendary.

Almost as bad as ours.

But alas, we have none of the benefits – the beach, the mountains or the…

http://www.youtube.com/watch?v=BADZW9tZ1uc

Obambarrassment

July 19th, 2012
5:48 pm

Jackie,

Caused by Enron, somewhat. The real reason? Let’s look at the common element between 2000-2001 and now? The feckless bumbling of California bureaucrats, and the mindless ignorance of California legislators.

As long as the people of California continue to buy the idea that California regulators are looking out for their best interests they are going to continue to be fed a bunch of lies by their own government, including the nonsense that it’s all JP Morgan’s or Enron’s fault. It’s an issue of public trust by public officials, and yet all the public officials in California are doing is avoiding the issue, blaming business and retrenching their socialistic fronts.

It wasn’t just Enron, either back in 2000. The only explanation for such public rip-offs are that companies were highly regulated to what they could charge the public but mostly unregulated into what they could pay for a buy electricity. When prices naturally rose in 2000, it made actual sense to shut down power plants or to sell power produced in California outside of Cali.

It’s the Nixon price control lesson all over again. California somehow can’t remember the lesson.

Enron’s fault?

Hardly–Enjoy the blackouts.

0311/8541/5811/1811/1801

July 19th, 2012
5:48 pm

Tundra Dude:

Yep ……….. Obama’s doing a great job (pun intended) on job creation. What’s the jobless rate now? And don’t forget to include the African-American community.

0311/8541/5811/1811/1801

July 19th, 2012
5:49 pm

Who’s gonna bail out all of the California cities that are going under?

G.I. Joe

July 19th, 2012
5:49 pm

I support Chick – Fil – A and their right to free speech. They oppose “gay” marriage because of their faith and that is their right.

Kamchak ~ Thug from the Steppes

July 19th, 2012
5:49 pm

I find it difficult to believe that you take a tongue in cheek comment about me not wanting to eat with liberals to heart.

The “just kidding” card.

So predictable.

JKL2

July 19th, 2012
5:49 pm

joe mama- JKL — “Strike 5 and more dodging. You’re on a role…” Pitch all you want. If you’re not going to answer simple questions about what you’re after, I’m not playing your game

Strike 6. Two down and more dodging. Like obama, you got nothing.

Are you a Cub fan too? Humor me and say that unlike our president, you could name at least one player (past or present) on your favorite team?

0311/8541/5811/1811/1801

July 19th, 2012
5:50 pm

From this morning:

“Every dangerous item or issue known to affect children is handled by the government schools (lectures on safety) from how to cross the street, to poisons, to child abuse, to STD’s, etc., etc., etc. ………………… EXCEPT gun safety.

Why?”

Jackie

July 19th, 2012
5:50 pm

Numbers indicate that CA is the 9th largest economy in the world. Business climate must not be too bad.

http://en.wikipedia.org/wiki/Comparison_between_U.S._states_and_countries_by_GDP_%28nominal%29