Hats Off to Jed

Years ago when I was in private practice I had a very contentious patent infringement case before Judge Jed Rakoff. It took a while but he finally recognized the the parties on the other side were, well, sleazy. And their attorney was not much better. He is a no nonsense type of judge and in due course the other side paid the price for their underhanded tatics. Seems the officers at Bank of America are learning first had that Judge Rakoff means business. I liked the guy back then and I love him now. Rather than making shareholders of Bank of America pay a $33 million fine for the poor practices of their management, which has already harmed the shareholders, Judge Rakoff is requiring the officers of the company be investigated and possibly fined. You go Jed!!!!!!!! I only wish the Adminstration had the courage to follow your lead. Seriously, who at Bank of America or Goldman has pictures of the Administration in the nude or cross-dressing? Someone must, as supporting the big banks as we have makes minimal logic.

Trade Wars

I posted earlier on the possible development of trade wars between the U.S. and China not being at all good for our future. Here is another piece with further details. I still think neither the U.S. or China is stupid enough to go there, but then again we each made an opening move.

http://www.nakedcapitalism.com/2009/09/murder-suicide-in-chimerica.html