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Currently viewing the tag: "Stupidity"

Has got to be this one:

Wall Street to GOP: Don’t Cut SEC Funds

But it’s only February 9! Nice one, guys, pulling your April Fool’s joke so early. But the article is actually a pretty interesting one, and makes a certain amount of sense. Here’s a taste:

Republicans were aligned with much of the financial sector in opposing President Obama’s overhaul of Wall Street’s rules, and the new House GOP majority is keen to present a pro-business image.

But Republicans are also battling the administration over burdensome regulations, and are in no mood to provide funding to strengthen regulations they fought against in the minority, even if some of the firms being regulated support the funding.

SEC Logo

Wall Street

“It’s only in government, especially in Washington, where you have agencies that failed in their core assignments in the past, and yet they are rewarded with more authority and bigger budgets,” Rep. Scott Garrett (R-N.J.) told The Hill last month.

While Republicans continue to fight the fight, Wall Street seems to have moved on and is now focused on getting the best rules possible from regulators implementing the law.

Tim Ryan, president and chief executive officer of the Securities Industry and Financial Markets Association (SIFMA), said last month that the Dodd-Frank fight was over.

“Today, the industry’s view as expressed by SIFMA is Dodd-Frank is the law,” said Ryan. “We are all about providing substantive input so that the government produces final regulations that make sense.” [...]

The attorneys warned that an SEC starved of funds would endanger America’s dominance in the capital markets, as investors would shy away from a market that was deemed to have an inadequate regulator.

The cynical interpretation is that Wall Street knows Dodd-Frank isn’t going to destroy the financial industry and figures it can game the rules in the new law just fine. But the emphasized part of the quote interests me. It makes absolute sense to me that nobody would want to invest in a market with a lousy regulator, since that would make it more likely that you get defrauded. Are the people who put money in stocks during the Chris Cox era over at SEC really happy with how that turned out? Really, bad regulators are only in the interest of dishonest banksters trying to swindle people. But the quote is phrased in a way that makes it seem that the important aspect of this is seeming like an effective regulatory agency. As though the important thing is being seen as an effective regulator instead of really being one. Republicans defunding the SEC would be unwise, politically and economically, but when one considers that all Republicans have offered so far falls into either the category of symbolic claptrap or revenge against Obama for, you know, passing bills, even if they have no alternative or no real criticism of the bills to speak of, I guess it makes sense they’d try this. Ugh! It’s hard to believe people this petty actually managed to win any measure of power at all.

This conflict reminds me of the cramdown fight, where Wall Street was basically resigned to losing the ability to rewrite mortgages in their favor at will, but Republicans decided to fight it anyway and won, betting that it would be too complicated to make into a campaign issue (and, you know, big dollars). Looks like the same thing is going to happen here. At some point, what the Republicans are doing simply stops being rank corporatism and just starts being mindless spite that’s only going to help sleazy characters. But what else is new, I guess.

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I know this should really go under Snack Food but I really can’t help but front-page this vomit-inducing bit of editorial page wingnut autoerotica by Dan Quayle’s son, who is now a freshman in the House of Representatives:

When I was a child, President Ronald Reagan was the nice man who gave us jelly beans when we visited the White House. I didn’t know then, but I know it now: The jelly beans were much more than a sweet treat that he gave out as gifts. They represented the uniqueness and greatness of America — each one different and special in its own way, but collectively they blended in harmony.

The apple doesn’t often fall far from the tree, hmm?

h/t Dennis G.

How the fuck does dreck like this get posted at the New York Times:
Ms. Palin, the former governor of Alaska, is scheduled to give a major speech Friday night at the Reagan Ranch Center in Santa Barbara, Calif., in honor of what would have been the 40th president’s 100th birthday. It’s possible that Ms. Palin could use the opportunity to deliver a broadly conceived foreign policy speech that uses the turmoil in Egypt to advance an understanding of her national security beliefs that goes beyond her use of Twitter messages and Facebook posts…
Sure, I get it that NYT writers are told to occasionally write puff pieces on Palin to fight off that mean ol’ “lamestream” media attack. But “a broadly conceived foreign policy speech that uses the turmoil in Egypt to advance an understanding of her national security beliefs“?? Seriously? Point to one instance of her making foreign policy statements that didn’t sound like the result of solving a word jumble and I’ll give you a lollipop. h/t DougJ

Bill O’Reilly takes another stab at defending faith. Goes about as well as the first time:

Okay, how did the Moon get there? How’d the Moon get there? Look, you pinheads who attacked me for this, you guys are just desperate. How’d the Moon get there? How’d the Sun get there? How’d it get there? Can you explain that to me? How come we have that and Mars doesn’t have it? Venus doesn’t have it. How come? Why not? How’d it get here?

He does realize that nonbelievers actually do have theories for this stuff, right? Big Bang and so on?

I was thinking of making some wisecracks about his stupidity, but I’ve read this quote about six times now, and I’ve concluded that engaging with it is actually making me stupider. Click through to the link if you need some of that sort of thing. I really think this is so blatantly and obviously stupid there’s no way to make it sound even stupider. There’s no deep stupidity to draw out, it’s all right there.

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Bill O’Reilly takes another stab at defending faith. Goes about as well as the first time:

Okay, how did the Moon get there? How’d the Moon get there? Look, you pinheads who attacked me for this, you guys are just desperate. How’d the Moon get there? How’d the Sun get there? How’d it get there? Can you explain that to me? How come we have that and Mars doesn’t have it? Venus doesn’t have it. How come? Why not? How’d it get here?

He does realize that nonbelievers actually do have theories for this stuff, right? Big Bang and so on?

I was thinking of making some wisecracks about his stupidity, but I’ve read this quote about six times now, and I’ve concluded that engaging with it is actually making me stupider. Click through to the link if you need some of that sort of thing. I really think this is so blatantly and obviously stupid there’s no way to make it sound even stupider. There’s no deep stupidity to draw out, it’s all right there.

Lev filed this under: , ,  

Bill O’Reilly takes another stab at defending faith. Goes about as well as the first time:

Okay, how did the Moon get there? How’d the Moon get there? Look, you pinheads who attacked me for this, you guys are just desperate. How’d the Moon get there? How’d the Sun get there? How’d it get there? Can you explain that to me? How come we have that and Mars doesn’t have it? Venus doesn’t have it. How come? Why not? How’d it get here?

He does realize that nonbelievers actually do have theories for this stuff, right? Big Bang and so on?

I was thinking of making some wisecracks about his stupidity, but I’ve read this quote about six times now, and I’ve concluded that engaging with it is actually making me stupider. Click through to the link if you need some of that sort of thing. I really think this is so blatantly and obviously stupid there’s no way to make it sound even stupider. There’s no deep stupidity to draw out, it’s all right there.

Lev filed this under: , ,  

Bill O’Reilly takes another stab at defending faith. Goes about as well as the first time:

Okay, how did the Moon get there? How’d the Moon get there? Look, you pinheads who attacked me for this, you guys are just desperate. How’d the Moon get there? How’d the Sun get there? How’d it get there? Can you explain that to me? How come we have that and Mars doesn’t have it? Venus doesn’t have it. How come? Why not? How’d it get here?

He does realize that nonbelievers actually do have theories for this stuff, right? Big Bang and so on?

I was thinking of making some wisecracks about his stupidity, but I’ve read this quote about six times now, and I’ve concluded that engaging with it is actually making me stupider. Click through to the link if you need some of that sort of thing. I really think this is so blatantly and obviously stupid there’s no way to make it sound even stupider. There’s no deep stupidity to draw out, it’s all right there.

Lev filed this under: , ,