Scratching my head over that $13 billion settlement

(Cross-post from my other blog, Attestation Update.)

I’m confused by the reports that JP Morgan is close to settling most of the claims against the bank by the federal government in return for a payment of $13,000,000,000.

On one hand…

There are several parts of the long list of Morgan scandals that fully justify punishment, in my opinion. Consider manipulating Libor or prices in the energy market as just two examples.

Since the options of either public flogging or liberal application of feathers preceded by tar are not possible with a corporation, a decent fine would be a good start.

Continue reading “Scratching my head over that $13 billion settlement”

The rules have all changed

(Cross-post from my other blog, Attestation Update, with minor changes)

Seth Godin has a new piece called “Post….

If you read his article or my comments and don’t immediately understand the point, you have a serious gap in your awareness of the radical changes taking place around us.

He lists 14 things that are now in the past, such as: Continue reading “The rules have all changed”

Photos of fracking operation

The Houston Chronicle has a nice photo shoot of fracking operations underway in Colorado. You can find it here.

Great shots.

(Hat tip: tweet from BakkenBlog News)

With the ground in Williston this morning having a sandwich of freezing rain underneath with a lot of snow in the middle and sleet on top along with many of the interstates closed in western North Dakota, I think I’ll really enjoy my warm-because-the-furnace-is-running-occassionally, dry, bright accounting office in Southern California with a rare, light drizzle outside.

I’d rather wear a short sleeve shirt instead of ear protection, long johns and a parka underneath slickers for a 12 hour shift. Our economy will thrive because of the great teams that are willing to do that. Thanks guys and gals.