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

Thulsa Doom

July 19th, 2012
5:51 pm

they both suck,

It could well be that maybe Mr. Cathy does harbor some hate or unwarranted animus towards gays. Who knows? But unless and until that is proven people should take the man at his word and just believe that he opposes gay marriage based upon his religious beliefs and just leave it at that. Why does it have to be an assumption that he is a hateful man?

Regardless Joe mama is tried to engineer some racism out it and suggested that I was racist based on a joking comment of mine that I wouldn’t eat with liberals. He then takes that to suggest that I would want to eat at a BBQ restaurant that doesn’t serve nonwhites. The way that this guy will try and misrepresent and stretch things is really just unbelievable in its blatant dishonesty.

josef

July 19th, 2012
5:52 pm

THULSA

Serbian Rom, from the Vojvodina outside Novi Sad. I thought at first that he was East Indian from appearance and the conversation started when I had asked him his name and it was very Slavic sounding. I told him that it sounded Slavic and wanted to know what part of India he was from! Without batting an eye, that’s when he told me the name of his home village and said “near Novi Sad in the Vojvodina” and waited with a somewhat sly look. “Oh,” I said, “the Ujvidek, Are you Magyar?” It was my turn for the sly look. From there the conversation rolled across the centuries of Balkan cultural history and the Roma. He made the point, though, that he was first Yugoslav, then Serbian, then Roma. He was an unrepentant Titoist!

As for Mr. Cathy, I disagree with him up one side and down the other, but I do respect that he applies his faith to his conduct of his life and his business. He walks the walk as well as talks the talk. If he doesn’t want my business, fine. I won’t give it to him. If he wants to donate his time and money and name to conservative Christian causes, fine. I’ll donate mine to liberal ecumenical ones.

getalife

July 19th, 2012
5:52 pm

A global economic slow down follows a global economic collapse.

Funny how people that are never right about anything act like they know everything.

Delusional is the state of our cons.

Obambarrassment

July 19th, 2012
5:52 pm

0311,

Brilliant!

You’ve devastated the columnists liberal arguments.

Thulsa Doom

July 19th, 2012
5:54 pm

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.

Yep. Looks like I’m going to have to go back to using my kamchak and keep up disclaimers for facetious and tongue in cheek statements. Good God these are some dense people.

They BOTH suck

July 19th, 2012
5:57 pm

TD

Got ya. After reading some of the back an forth, that’s why I shared my feel good story from Clayton

TaxPayer

July 19th, 2012
5:57 pm

Speaking of eating out, here’s a brief story of a recent outing my wife and I had (josef might get a kick out of this one):

We were out at the local NE Georgia fast food burger joint for lunch and there was a group of young “adults” also partaking of a meal a few tables away. They were a rather loud group, laughing and giggling and making comments that were obviously deliberately loud enough to be heard by the locals. One female in particular was boldly talking in a rather silly southern hick accent. On their way out of the establishment, she loudly exclaimed, and I must admit that I am paraphrasing here but still very close to an exact quote, “Y’all have a nice day now, ya hare, eh hehehe (like a donkey in heat).” It was the best entertainment I’d had in weeks.

Obambarrassment

July 19th, 2012
5:58 pm

0311 @ 550,

It’s a fine point to make. I’d guess that the sixties had something to do with formal gun training in schools such as my father had.

Another point might be that with the variety and volume of guns on the market, learning about them might be like learning to operate machinery and so more related to the occupational educations, such a mechanics and licensing.

Though in our country, we also don’t teach those things much anymore either. We’re too four-year college oriented.

Thulsa Doom

July 19th, 2012
5:59 pm

josef,

Interesting. I have to say I’ve never met a Titoist. My uncle that came over decades back on trade missions for the Yugoslav govt was possibly a titoist but I didn’t know enough about him to know for sure his allegiances and such. I assume he was a Titoist as a govt trade rep.

As for Cathy your position is a fair one.

Oscar

July 19th, 2012
6:00 pm

Thulsa Doom

==========

Sarcasm and tongue in cheek comments are always missed by someone and taken seriously.
Noting it as sarcasm can save time and effort to clear up.

JKL2

July 19th, 2012
6:01 pm

getalife- Funny how people that are never right about anything act like they know everything.

Must be obama’s “lazer-like focus on job creation”.

josef

July 19th, 2012
6:01 pm

BOTH

It has been my experience that you largely find what you go looking for and I look for the best in whatever group/culture/environment/social setting I find myself in. You learn a lot more doing that than doing the opposite…

Obambarrassment

July 19th, 2012
6:01 pm

TaxPayer,

The laughing at the southern accent is fine. I like for people to laugh, even when it is at my expense the laughter makes them feel comfortable.

The donkey-in-heat derision we can all do without.

Oscar

July 19th, 2012
6:02 pm

TaxPayer

——-

Somebody should have sneaked out and let the air out of their tires while they were eating.

They BOTH suck

July 19th, 2012
6:04 pm

Scout

Grew up in Columbus. The ROTC programs have a close relationship with the military due to Ft Benning being next door.

I was in ROTC in 9th and 10th grade. I was on the rifle team. We had a range at our school, so practice was close. Plus for an annual fee anyone part of a local high school ROTC rifle team could go to the indoor range every other week on the base.

Good times

getalife

July 19th, 2012
6:06 pm

jk,

You lost 9 million jobs and expect a different result.

That is the definition of insanity.

Perhaps conservatism is a mental disorder.

Thulsa Doom

July 19th, 2012
6:07 pm

they both suck,

I’ll have to go back and read the Clayton story. In my fun with Joe I miss a lot of the other comments. Where is your post on it roughly?

Erwin's cat

July 19th, 2012
6:07 pm

Oscar – Sarcasm and tongue in cheek comments are always missed by someone and taken seriously.
Noting it as sarcasm can save time and effort to clear up.

“subtlety is lost on the young” – W.C. Fields

Kamchak ~ Thug from the Steppes

July 19th, 2012
6:08 pm

Somebody should have sneaked out and let the air out of their tires while they were eating.

Yes, that would have been an example of southern hospitality.

:roll: :roll: :roll: :roll: :roll: :roll:
:roll: :roll: :roll: :roll: :roll: :roll:
:roll: :roll: :roll: :roll: :roll: :roll:
:roll: :roll: :roll: :roll: :roll: :roll:
:roll: :roll: :roll: :roll: :roll: :roll:

josef

July 19th, 2012
6:10 pm

OSCAR

One of my earliest lessons in blogging was to pepper my comments with the smiley…I didn’t realize just HOW seriously some folks take mindless jabbering and themselves… :-)

TAXI
Speaking of dialects and accents, one of the things that I find intriguing in my line of work is the code switching which takes place. I can be dealing with someone from, say, Louisiana, and we’ll be chatting away in standard Southern English and then, once lieu de naissance is established, go straight into the local dialect without missing a beat!

Thulsa Doom

July 19th, 2012
6:11 pm

Oscar,

I hear ya. I make a joking comment about not eating with liberals that I don’t think anyone in their right mind would take seriously. And rather than take it as a “messin witcha” comment Joe mama treats it as if its a real policy of mine. Jeez. I used to use a kamchak or keep up disclaimer comment for just that purpose so that people wouldn’t take you literally and then try to twist it against you. Looks like I’m going to have to remember to use it some more for the truly dense out there.

BADAss BING

July 19th, 2012
6:13 pm

On the subject of making fun of the way people talk…..I was in Peru meeting the family of my then girlfriend, and she told me that they were laughing at the way I spoke in my bad Spanish. I then told her…”It’s OK, tell them we do the same to foreigners in the US”. Their faces were priceless.

JamVet

July 19th, 2012
6:15 pm

getalife proves again that he has the huge talent to say in very few words something more relevant and important than others who can write paragraphs and say nothing…

A global economic slow down follows a global economic collapse.

Funny how people that are never right about anything act like they know everything.

Delusional is the state of our cons.

BADAss BING

July 19th, 2012
6:16 pm

I don’t care what your race, religion, or gender is. I don’t want to eat with any of you. Your table manners may be as bad as mine.

josef

July 19th, 2012
6:20 pm

getalife
@ 5:46

I keep tellin ya…leave dem Boudreaux gals a’lon… :-)

Kamchak ~ Thug from the Steppes

July 19th, 2012
6:20 pm

I used to use a kamchak or keep up disclaimer comment for just that purpose so that people wouldn’t take you literally…

No doomy, you didn’t “used to use” anything.

When you got pinned down after moving the goalposts a dozen or so times, you would trot out the “I was just funning/fooling/joking” card in an effort to start walking back your foolishness that you permeated CT’s blog almost every day.

The folks here don’t have the experience that Keep and I have.

Erwin's cat

July 19th, 2012
6:21 pm

well it depends…who’s buying?

BADAss BING

July 19th, 2012
6:21 pm

AJC online article…..”NE Atlanta woman bound with duct tape”. What is wrong with people? It’s not the weekend yet!

They BOTH suck

July 19th, 2012
6:22 pm

0311/8541/5811/1811/1801

July 19th, 2012
6:22 pm

Obambarrassment :

Re: Firearms safety in schools ………….. stay tuned.

Jackie

July 19th, 2012
6:24 pm

@Obambarrassment

It appears that you are presenting a sanitized version of events. The CA legislators were literally handcuffed by Enron and Dyner during their energy manipulation. If you will look at all reports on this event, it is clearly demonstrated the state was taken hostage by these pirates.

F. Sinkwich

July 19th, 2012
6:25 pm

“In 2008, I tried to only making promises that I could keep or work on keeping,” President Obama said at a campaign event in Jacksonville today. “And I told you that I was not a perfect man and I wouldn’t be a perfect president but I also told you that I would always tell you what I thought, I’d always tell you where I stood and most of all I would wake up every single day, every single day and spend every waking hour thinking about you.”

Sniff…

He loves me!!!

Erwin's cat

July 19th, 2012
6:26 pm

actually, let’s say we get together for dinner and a few drinks…how do we settle the bill?
equal shares
pay just for what you consumed
the richer guys pay more (or less: ideaology dependent)
the poor guy pays less or nothing (or more depending on ideaology)
run out and either the establishment gets reimbursed or not depending…

we’d never get outta the place :)

0311/8541/5811/1811/1801

July 19th, 2012
6:26 pm

They BOTH suck:

I hear you re: ROTC, rifle team, etc. but that was not my point. Those days are gone like having your pocket knife so you could whittle during recess.

My point was this.

Why aren’t kids today (from kindergarten on up) taught gun “safety”. In other words, showing films, etc. on what to do if you find a gun laying around (leave it alone and get an adult). Showing how dangerous guns can be (shooting a watermelon). How guns are “properly used”, etc., etc.

No hands on ………… just safety training.

Why isn’t this being done?

Note: If a kid today even draws a photo of a gun in school guess what? I wonder what they do with photos in the history books of Marines charging up Iwo Jima beach? I guess the rifles are airbrushed out ?

Thulsa Doom

July 19th, 2012
6:28 pm

kamchak,

Sorry sport but I didn’t get pinned down on anything. Joe mama suggested a racist comment and couldn’t back it up. Then he uses some kinda roundabout logic that because I said I don’t eat with liberals that I must have racist tendencies against other groups as well. Sorry sport but its just plain moronic first of all to have taken that statement seriously. And then to compound it and try and use that to say one must be racist against other groups because they refuse to eat with liberals is beyond stupid. Even you aren’t that damn dense.

As for CT’s blog I rarely commented on hers. Same thing happened where I make a dry, facetious comment and you and or keep try to act like its a serious statement. The problem with folks like you, joe, and keep is that you can’t argue the topic so you’re reduced to semantics games. In this case Joe got busted straight up making racial suggestions and then was reduced to having to walk it back with some stupidity trying to link his assertion of racism with a comment about not eating with liberals. Reasonable people realize that is beyond stupid.

Erwin's cat

July 19th, 2012
6:29 pm

Jam – getalife proves again that he has the huge talent to say in very few words something more relevant and important than others who can write paragraphs and say nothing…

i thought he was being introspective :D

Oscar

July 19th, 2012
6:30 pm

Jackie

July 19th, 2012
6:24 pm

—————–

It’s the job of the governor and legislature to make sure that does not happen. Law of unintended consequences must have gotten them.

They BOTH suck

July 19th, 2012
6:30 pm

Scout

I know what you were saying, but that reminded my of ROTC for some reason, so I passed it along…………

:-)

TaxPayer

July 19th, 2012
6:30 pm

I’m not quite sure if my story was properly interpreted. So just in case it was not, it was not I doing the laughing at her dialect. She was obviously and deliberately ridiculing the locals with her impression of a southern hick. She was quite entertaining to me because she came across as a rather pathetic version of someone trying to ridicule an Ellie Mae Clampett or the Dukes of Hazzard cast. One of the others in her group was obviously embarrassed because she was turning red and was quietly trying to just get out of the restaurant as quickly as possible.

Oscar

July 19th, 2012
6:31 pm

Kamchak
__________

Big difference in being in the South and being in the mountains. Not the same culture at all.
You should get to know the territory.

Thulsa Doom

July 19th, 2012
6:33 pm

Erwin,

Drinking and ideology. They don’t mix.

Oscar

July 19th, 2012
6:33 pm

TaxPayer

July 19th, 2012
6:30 pm

_+________

I think everyone understood that. I did, and was not directing any negative comment toward you.

F. Sinkwich

July 19th, 2012
6:33 pm

“And I told you that I was not a perfect man and I wouldn’t be a perfect president…”

Yeah you did, doo-fuss.

You said you would bring us together, solve all of our problems, then solve all of the world’s problems including the tides.

EPIC FAIL, loser.

Now you backtrack like the little pu$$y you are.

No offense, obviously…

josef

July 19th, 2012
6:34 pm

BADA

Hey! Long time no see. Got one for ya from the front lines in public service in my job today. I was serving a parent in English. One of my Spanish speaking co-workers was brought into the equation and since the matter at hand was expressly between me and her as to service of the parent, we were speaking Spanish. The lady I was serving says to me in Spanish “Are you Jewish?” I looked a bit surprised, not that she was speaking Spanish, but the non sequitur. She says, “you’ve got a ladino accent.” I laughed and said, “well, yes, I am and yes, I guess it is!” Turns out she was a Cuban-American from a Jewish family and we had “old home week,” and a pleasant chit chat while conducting our business. Got me a good compliment to my new boss, too! :-)

Jackie

July 19th, 2012
6:35 pm

@Oscar

When a utility is no longer regulated, they governor or the legislator has not sway over the pricing decisions made by those who own the fungible product being sold on the open market. Do I have that right?

They BOTH suck

July 19th, 2012
6:36 pm

“Now you backtrack like the little pu$$y you are.”

Way you are crying more than usual, which is hard even for you, figured your _____________ hurt

“No offense, obviously”

josef

July 19th, 2012
6:38 pm

TAXI

I got it, too. There’s nothing chaps my ass quite as much as somebody ridiculing an accent/dialect in a nasty fashion to try and act superior…I might myself have been tempted to show them some of K’chak’s “Southern hospitality!” :-)

Erwin's cat

July 19th, 2012
6:40 pm

have been tempted to show them some of K’chak’s “Southern hospitality!

does it involve Bombay Red?

BADAss BING

July 19th, 2012
6:42 pm

josef….sounds like me. I speak Espaniol with a Southern accent!

josef

July 19th, 2012
6:44 pm

California has a population of close to 40,000,000, putting it in the ranks of Poland, Argentina, Spain, among others. Of course it would have an economy of commensurate size. That doesn’t per force make it any healthier than, say, Argentina’s or Spain’s…

Thulsa Doom

July 19th, 2012
6:44 pm

they both suck,

I went back and read it and that was a good story. I have found that in a lot of small towns the vfw is a good place to get a good either steak special or fish n chips special. Super nice folks at those places too.

I’ve only been to a few places where people look at me funny in a restaurant. One was in West Virginia where we stopped off at a small town and ate at the local KFC on our way to PA. I hate to cast stereotypes but all the men were wearing overalls, everyone looked alike, and we just got looks and stares from around the room since it was obvious we were from out of town. It was weird and I was damn glad to be outta there. The other was years back when I took one of my assistants to lunch to celebrate a big deal we just closed on. She was a very attractive girl and was black. We got a lot of angry looks from the brothers in the restaurant. They were not happy at all. Of course they didn’t know that the odds of me and her hooking up were about the same of that proverbial snowball in hell.

Thulsa Doom

July 19th, 2012
6:48 pm

josef,

Cal’s economy is probably much larger than those other nations you spoke of. Cali used to be the 7th largest economy in the world but has slipped in the past few years to 8th. Those blue state folks are trying to push it to no. 9 or 10 if they can. Tee hee.

Erwin's cat

July 19th, 2012
6:48 pm

okay…i gotta take the lamp shade off my head and…….
travel safe

TaxPayer

July 19th, 2012
6:48 pm

josef,

Regarding the local dialects, I know you will disagree with me here but I think of convert’s antics as those of a local making fun of himself because I do the the same from time to time and that’s just how he comes across–right or wrong. I’m Georgia born and raised and I’ll have fun at my own expense on occasion. However, the girl at the fast food restaurant came across as precisely the sort that I think you see when you read convert’s posts and thought was my reason for thinking you might enjoy reading my post.

josef

July 19th, 2012
6:49 pm

CAT

Tanqueray! :-)

BADA
I’ve gone to great effort to protect, preserve and promote my Southern accent, but it’s funny that it doesn’t show up in my other languages. It’s bizarre what does, however. I speak Polish with a Spanish accent and German with a French accent…why, I have no idea…

BADAss BING

July 19th, 2012
6:50 pm

WHO LET THE DOGS OUT? You didn’t do that. Someone else did that.

Oscar

July 19th, 2012
6:50 pm

Jackie

July 19th, 2012
6:35 pm

______

I believe that is correct. I think that’s where they went off track.

Sounded like a good idea at the time.

G Mare

July 19th, 2012
6:50 pm

I bought a great t shirt at a Celtic Festival years ago: BORN AGAIN PAGAN.

Jackie

July 19th, 2012
6:53 pm

@Oscar

I am confused by your answer; how did the state go off track in that they had a responsibility to purchase electricity from their supplier?

Boris Badnoff

July 19th, 2012
6:53 pm

Hard to believe that a company named for and founded by John Pierpont Morgan could be guilty of chicanery. Surely not. Every state has its woes. Here in Georgia you have to have a certified copy of your birth certificate to get a drivers license. But to get a certified copy of your birth certificate you must supply a copy of your drivers license. It appears that Georgia is guilty of document incest. If only I had Bookman’s money I could get a chauffeur and be driven like Miss Daisy.

Oscar

July 19th, 2012
6:54 pm

TaxPayer

July 19th, 2012
6:48 pm

________

I think we all like to make fun of ourselves when we are in our own group or tribe. But don’t like outsider’s doing it to us.
I don’t take offense at covert. Think he is funny.

BADAss BING

July 19th, 2012
6:55 pm

I was Down Under in 93, and I was surprised to find a BK on the Gold Coast. I went up to the counter and ordered a #1 with a coke, the same as in the US. The poor young gal looked up at me and said ” Sir, I didn’t understand a word you said”. MY travel companions and I laughed about that the rest of the trip.

They BOTH suck

July 19th, 2012
6:55 pm

Gmare

Good evening

“BORN AGAIN PAGAN.”

That is pretty good

josef

July 19th, 2012
6:56 pm

TAXI
There’s nothing I love more than a good time jesting in fun at the way we talk. English is so rich in dialects and good humored repartee is a great way to cross across our various origins. My objection to the Du-k-sha-nee is not so much his shtick as it is his incomplete and poor command of the dialect he seeks to use and his consistent negativism. Give me a Larry the Cable Guy who’s not “one of us” but who has the dialect down to the native and his use of it to present a complete personality with a love of the pearls of wisdom he brings out while keeping you rolling in the aisles..

.

josef

July 19th, 2012
6:58 pm

GMARE

Got your message from last night late…yes. “The Lemon Tree” was a most interesting read…

Oscar

July 19th, 2012
6:58 pm

Jackie
______

I meant that somehow they wound up at the mercy of their suppliers. That’s why I think giving up the right to regulate wound up hurting them rather than helping them.

I think this thread started by the statement that Enron and Dyner had the state handcuffed. I thought part of the reason was the lack of regulation and also the fact that CA now has to by energy from outside the state.

Doggone/GA

July 19th, 2012
6:59 pm

G Mare – remember quite a few years ago when the phrase of the moment was “life’s a bitch, then you die”? During that time I had something like 6 male dogs and I bought a T-Shirt that has a male Great Dane wallowin on his back, fully intact (meaning not neutered) and it says “Life’s NOT a bitch”

josef

July 19th, 2012
7:00 pm

Speaking of dialects and being abroad in the English speaking world…we were in Ireland and were in Youghal…we were talking to a couple of locals and telling them how charmed we were with Yoo-gal. They started laughing and told us we ought to know how to pronounce the name of their town. Why?
“It’s pronounced Y’all…” :-)

Kamchak ~ Thug from the Steppes

July 19th, 2012
7:02 pm

Big difference in being in the South and being in the mountains. Not the same culture at all.
You should get to know the territory.

“Get to know the territory”???

Too funny!

Currently, I am in a small hamlet in the N.C. Mtns. and have been a part time resident here for the past four years, sport.

josef

July 19th, 2012
7:02 pm

DOGGONE

Unmentionable had a t-shirt that said, “Life’s a bitch and then you go home to one!” A radical feminist took offense and he nodded over to me, “well, Honey, you go home with this one and tell me what you’d call him!”

carlosgvv

July 19th, 2012
7:04 pm

I read in a recently published History book that a certain Senator’s “soft Southern accent masked his razor sharp intellect”.

It’s astonishing that this kind of bias is still being printed in American College textbooks.

TaxPayer

July 19th, 2012
7:05 pm

The share of the nation’s wealth held by the less affluent half of American households dropped precipitously after the financial crisis, to 1.1 percent, according to new calculations by Congress’s nonpartisan research service.

By contrast, the share of total net worth held by the weathiest 1 percent of American households continued rising, hitting 34.5 percent in 2010. The top 10 percent’s share was 74.5 percent.

Wow. Let’s give the wealthiest another tax cut because they clearly earned it. They whooped some poor people’s butts!

josef

July 19th, 2012
7:06 pm

“Big difference in being in the South and being in the mountains. Not the same culture at all.”

And I beg to differ…I’m half Hillbilly and 150% Southern…it’s the kind of Southerner I am on that side of the family…

Doggone/GA

July 19th, 2012
7:08 pm

Josef – I like it!

josef

July 19th, 2012
7:09 pm

Carlos

I agree. That one chaps me, too. It always tickles me when somebody reads that “soft spoken gentleman” accent as a sign of weakness and then, bam, finds him’herself being torn to verbal shreds once the gentlemanly veneer is dropped.

Doggone/GA

July 19th, 2012
7:10 pm

“It’s astonishing that this kind of bias is still being printed in American College textbooks”

Maybe it’s just me, but I saw no bias in what you quoted. The softness of the accent transcends dialect. For instance, NO ONE would accuse Paula Deen of having a “soft” accent.

Martin the Calvinist

July 19th, 2012
7:10 pm

After reading some of the author’s comments after his blog posting, I want to say two things, whether it is someone gaming the welfare system or someone gaming the market, it’s wrong and it should be punished swiftly and harshly to deter more people trying to do the same thing.

And secondly, Jay, who wrote the law, seriously, it’s legal, it may not be moral but’s it is legal, go after the ones who wrote the law and critize those politicans afterwords who have had ample time (probably) to make such practice illegal, critize them……

I’m really begining to believe you desire a command economy where the gov’t controls all economic activity…..

Oscar

July 19th, 2012
7:10 pm

I have learned to communicate pretty well with people. Only had one guy hang up on me, he was in Miami.
But I can’t make those computer telephones understand me. I always have to go to the punch one or two system. Yes and No they can get ok but nothing complicated.

Doggone/GA

July 19th, 2012
7:12 pm

“it may not be moral but’s it is legal, go after the ones who wrote the law”

If it’s not moral, it’s perfectly valid to “go after the ones” who took advantage of it being legal.

josef

July 19th, 2012
7:13 pm

THULSA

I’m not sure where California’s economy ranks there with those I mentioned…I’ll try looking it up…I’ve wondered about that myself…

BADAss BING

July 19th, 2012
7:13 pm

Big today eight yellow I Saturday English for without always no and London tomorrow under high search before kite section retail Friday above but LOL. (There are some words, but I don’t want to arrange or punctuate them. Let the Gov’t do it.)

This is Still Amrica

July 19th, 2012
7:14 pm

Chic – Fil – A did not have to come out. They never hid the fact they credit God for their success. So they oppose “gay” marriage – that’s their right.

josef

July 19th, 2012
7:15 pm

OSCAR

Those computer telephones and our dialect(s)…that infuriates me and I make a point of calling the corporate offices of those involved and giving them a lecture on cultural sensitivity! They just don’t get it…

They BOTH suck

July 19th, 2012
7:17 pm

This is Amrica

What blogger said it wasn’t ChicFilas right?

TaxPayer

July 19th, 2012
7:23 pm

Chic-Fil-A, Dixie Chicks. Chicks from opposite sides of the fence.

They BOTH suck

July 19th, 2012
7:26 pm

“I don’t know Huma, but from everything I do know of her, she has a sterling character,” [House Speaker John] Boehner (R-Ohio) told reporters Thursday. “And I think accusations like this being thrown around are pretty dangerous.”

Thulsa Doom

July 19th, 2012
7:27 pm

josef,

I’m pretty sure Cali’s economy alone is still the 8th largest in the world. Spain is one of the bigger economies in Europe but of course lags the big boys- Germany, France, England, and Italy. I think they are 5th.

Poland I have no idea but considering its a former east bloc economy I think they are probably relatively small but they have been growing very well the past decade or so if I remember correctly. One thing I’ve read about Poland that I don’t know if its true is that Poland is the only European economy to not try stimulus the past decade and consequently are the only economy to not go into recession. Not sure if that’s still true though.

Argentina is on my list of countries that I want to spend some serious time in when I retire. It used to be one of the 10 wealthiest nation’s and largest economies in the world until the Peronists ruined it. It hasn’t been the same since.

Jm (LL) -pass TSPLOST silly people

July 19th, 2012
7:30 pm

Chick fil a for 8 pages or so

Amazing

I need a chicken biscuit

Thulsa Doom

July 19th, 2012
7:31 pm

In all the comments regarding Jay’s topic today I have yet to see whether or not these activities of JP Morgan and the other bank are legal or illegal. It doesn’t say. Jay calls it a scam but provides no evidence that it is an illegal practice. Anyone know if this is in fact an illlegal practice?

josef

July 19th, 2012
7:34 pm

THULSA

That is correct on Poland. Tunisia and Libya have invited them in to teach them the Polish model. And the Polish economy is still on a roll.

Argentina? A study in dysfunctional society! One of the highest literacy rates and educational levels in the world, a major player in every cultural sophistication index, etc. etc. and has had more governments in its independence than any other…also the highest number of shrinks per capita in the world! :-)

What is an Argentine? An Italian who speaks Spanish and thinks he’s French… :-)

Jm (LL) -pass TSPLOST silly people

July 19th, 2012
7:35 pm

Doom

To be determined

It very well could be illegal if a pattern can be proven with intent to manipulate

And depending on CA law

Who knows for sure yet tho

Ol' Timer

July 19th, 2012
7:35 pm

This kind of behavior will continue until somebody in a key position goes to jail! It’s time to get serious with these scammers. The deceit and fraud is rampant and must be dealt with ASAP.

Jay Gould is alive and well and roaming Wall Street.

Moon Mullins

July 19th, 2012
7:37 pm

If you would save an investment banker fron drowning, do not say, “give me your hand” as he has no concept of giving. Rather, say “take my hand” and he will be saved.

Selah!

They BOTH suck

July 19th, 2012
7:40 pm

TD

I would say a small slap on the wrist or nothing.

If it is legal then by all means they are welcome to do it. Only thing I would say is that I’m sure just because something is legal everyone wouldn’t do it or teach their kids that it is ok to do.

Sad to say but there are a lot of scumbags in this world that operate in the framework of the “law”. I would piss on those people if they were on fire

They BOTH suck

July 19th, 2012
7:42 pm

wouldn’t…………

TaxPayer

July 19th, 2012
7:46 pm

It seems like only yesterday that some cons were calling for some filleted Chicks. At least the worst I have heard from liberals is their intentions to not frequent a Chic-Fil-A.

josef

July 19th, 2012
7:50 pm

My question of Mr. Gay would be to ask him where he gets his chicken and do those plucking plants hire undocumented labor…of course, it would be the Christian thing to do, supporting those who practice traditional family values and communal self reliance…

Thulsa Doom

July 19th, 2012
7:52 pm

they both suck,

If its legal then we simply change the law. The thing we haven’t heard though is JP Morgan’s argument. I suspect that their argument as well as that of others is that this somehow or another promotes liquidity although I don’t see how. I would just like to see more info on something like this as opposed to one or 2 people just opining that its a scam. That’s all.

Thulsa Doom

July 19th, 2012
7:56 pm

josef,

That’s what I like about Argentina. Its a mixture of Europe and is easily the most European of Latin States. Don’t forget to add in the Germans to the Italians and others in the mix in Argentina. Its the most cosmopolitan and culturally sophisticated of the Latin nations and the architecture of Buenos Aires is just beautiful IMHO. I intend to spend some time in Buenos Aires when I get the chance. Would like to visit Chile and possibly Uruguay and Paraguay also- time permitting.

marko

July 19th, 2012
7:57 pm

Once upon a time there was the butcher, the baker and the candlestick maker. We out sourced those jobs. Now we just make money. seems to work out for some, but I just read that 50% of all Americans hold only 1% of the wealth .Student loan debt exceeds credit card debt, and we’re the only country on earth that has more guns than people. If we’re a socialist leaning country, bent on depriving people of their god given second amendment rights, we pretty much suck at it.