Poor, Poor Jamie –or- ‘What’s That Smell?’ (2015Jan16)

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Friday, January 16, 2015                        12:50 PM

Two days ago, Nathaniel Popper of the New York Times reported that JPMorgan Chase CEO, Jamie Dimon, ‘lashed out at regulators and analysts’, quoting Dimon as saying, “Banks are under assault”. As I looked at Dimon’s photograph next to the Popper article I understood for the first time just how much drama there is in investment banking. Dimon’s bland, style-less garb somehow managed to say, “We are very expensive clothes” without saying anything else; his pouty poker-face seems to proclaim ‘I’m better than anyone else in the room’ while his wooden body-language chimes in that ‘he’s not really so sure’.

I had my belly-full of these hand-tailored he-divas since their 90’s quest-to-become-‘Masters-of-the-Universe’ profiteering utterly destroyed our manufacturing base. Bankers’ exertions towards making the financial industry seem masculine and powerful have only gotten more extreme with the subsequent decades. Their attempts to make purchasing power, or high credit ratings, seem equivalent to bulging pecs or abs, are absolutely operatic. I see now that Dimon, rather than an able administrator of brokers and investors, is just the front-diva for an industry giant whose welfare relies almost wholly upon his projection of his company’s image as something it truly isn’t.

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Here’s a company that shares the blame, with all the other major investment banks, for the crash and Great Recession of 2008 (and the uncounted, unethical mortgage foreclosures they rushed through in its aftermath). Here’s a company that has recently been fined billions for unethical practices, a company that has just set aside another billion for further anticipated sanctions. Dimon even complains that new government insistence on greater capital holdings, which would make JPMorgan Chase a stronger element in our overall economy, would make the bank itself a weaker entity—as if that were a rational argument.

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Even non-government, industry-savvy analysts say the company would operate more efficiently and more profitably if it were broken up into several smaller companies—but Dimon insists his company’s bloated structure makes it a more effective bully or, as Mr. Popper put it, “argued that the bank’s size gave it many advantages against competitors — “the model works from a business standpoint,” Mr. Dimon said.”

Finally, to put the fear of God in all of us, Dimon suggests that regulating the ethical practices of American banks will allow some other country, mostly China—the boogeyman under our beds—to become the new world leader in banking. It’s pretty neat phrasing—he’s implying that unregulated, unethical American banking is vital to national security—but what security can such economic buggery truly offer us?

So I see now that Dimon is not actually the Chief Executive Officer of his bank, but of its public image. He knows that, like money itself, JPMorgan Chase’s value is only what others believe it to be. He seeks to match the recent monetization of politics with a politicization of money. While sticking his head up his own ass, he bids us follow him—to safety. Don’t go—it stinks in there.

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Do Your Parents Need Regulation? (2014Sep09)

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Sunday, September 07, 2014                 9:17 PM

Some people seem to think that plain speaking is a sign of anger. This is incorrect—speaking plainly is a product of fatigue. Fatigue is far more accessible to us now that the Inter-Web has given us Social Media (in some digital environs, it could just as well be called Sociopathic Media). Once a Thread begins, particularly a cultural-socio-economic-politicized-cause-type thread, I see both the hard-minded-ness of their side and my own. I argue for the right and just, not because I want to prove myself right. And the casual, very personal vitriol is totally outside of whatever point is at hand, if there is one.

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There are a crowd of possible responses to any statement—the less concern for the point of a discussion, the wider the crowd. If I seek to understand the speaker, and to give a considered, reasonable response, my possible actions are at their least prolific, i.e. listening carefully, with an open mind, and thinking hard about what I’ve heard—being on the lookout for distractions such as my desire to win the argument or simple impatience masquerading as righteousness—and forming a response that respects the other person’s ideas while forwarding my own as clearly as possible.

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But if trolling threads is my favorite past-time because I get to cuss and dismiss and insult without consequence (or without the courage to look a person in the face and say such things) then I can say what I want. I don’t have to pay attention to other posters in any way other than to find key-words to hang my taunts on. ‘Kill yourself’ is a favorite among the trolls—and that outlines their thought process to a ‘T’. Only children (many of them overgrown) have the urge to titillate themselves by trolling the internet—grown-ups are far too busy with more real pursuits, online and off. Part of the thrill, I suppose, is the ability to jump into any formerly rational discussion thread and mess it up for everyone else—and no one knows who to blame. What finer mischief could be imagined?

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My favorite are the ‘parental’ trolls—they adopt a knowing and dismissive tone, usually managing to drop mention of their advanced degree in whatever the discussion is about, then spout off ‘correct solutions’ that only reveal that, yes, they have probably spent their lives in a classroom, and not out where reality has a nasty habit of intervening. We cannot write about anything without revealing our personality—indeed, those in the arts and in entertainment are well aware that we can’t create anything without imbuing it with our personality. Trolls, like all children who act out, and most of all, like bullies, only reveal through their derogations that they are mentally broken and emotionally hurt.

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But the world is full of people who are mentally broken and emotionally hurt. The young who suffer from poor self-approval are the trollers’ most vulnerable prey—they have neither the self-confidence nor the experience to understand all the hatred being fired at them online, just as they make easy prey for the bullies in school hallways.

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Before caller ID, the anonymous phone-call was the weapon of choice for those who had the same twisted drives as the trollers of our times. The same anonymity cloaked their ludicrously evil whispers through the phone-receiver and the same anger and frustration drove them to it. Technology changes our life-styles, but never our natures. The first time I asked a girl for a date was, like millions of others, on the telephone. Such sweet conversations people can have on the phone. Yet ways were found to use it to defraud, to threaten, and to hurt. When we make our lives easier, we make all of it easier, even the bad stuff.

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So every time we invent something that gives us greater ease and power, we inevitably follow up with regulations against using the new thing for bad purposes. But now we have the Internet—and regulating it will remove its chiefest good. Plus, we have seen regulation go from a public service to a protection for the big corporations against limitations on their profit-making activity, and against potential competition or lawsuits.

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Regulating the Internet goes without saying, to some people—to others, the idea of regulating it seems a defeat of its potential. I suggest that these two ideologies have non-internet related origins. The simple truth of computing is that any security protocols must be coded and implemented by people, imperfect people. Further, computer-systems security is based on mathematics—more specifically, cryptography—and will always be vulnerable to superior mathematicians. The fact that such people are rare as hens’ teeth doesn’t decrease my sense of insecurity one bit—especially with American education in such a pitiful state, compared to other countries.

 

Spencer  -born 1988

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Articles were written as far back as the 1980s delineating the impossibility of total digital security on an open network. Having worked with computers, I was aware of their physical fragility and their reliance on disinterest as their chief deterrent to hacking. I doubt I was alone in my surprise at the willingness of security-sensitive industries like banking, air-traffic-control, and government agencies to convert themselves into digital entities so early on. Even when they found themselves looking down the barrel of the Y2K crisis, there was no thought of retreat. I guess there’s another simple truth—computerized organizations function exponentially better than a pure-paper office ever could.

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We regulate everything but what matters—people. It would be unthinkable to pass laws forcing expectant mothers to refrain from drugs and alcohol, or mandating that parents read to their children for at least one hour every day. Such regulations would violate our civil rights. And what is the punishment for bad parenting? Domestic child protection agencies already face this dilemma with regards to parents who commit felonies—separating a child from his or her parents is much more a punishment of the child than of the bad parent.

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We could try the crèche approach—take children away from parents and raise them using an institution with a professional staff. But negligent crèche-workers are no less likely than poor parents—and children still lose something without the focused love of the ‘traditional’ family. We could try monitoring—but that would be the biggest civil-rights infringement of all. We need our kids to be raised right—rich or poor, smart or dumb parents notwithstanding—but that need finds little support in a country that prides itself on personal freedom. Let’s face it—parenthood is the opposite of personal freedom, at least in terms of daily behavior. Good parenting is downright un-American.

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