OUR “UPPITY” PRESIDENT
From: Gene
Most days, I’m nowhere near as impressed with Maureen Dowd as she is with herself. I have often found her, especially in the post-Bush era, to be straining for effects and for laughs. Even when she was on her Pulitzer-winning roll, smirking and snarking her way through the Ken Starr inquisition and its grubby sideshows, I thought there was little in the core of her “analysis” except glib, even smug emptiness.
But today (7/26), I have to hand it to Dowd. She earned her Pulitzer and my respect with her Op-Ed column on Skip Gates vs. the Cambridge police. She got at the essence of the matter a lot sooner than anyone else, including the president (about whom, more later):
“As the daughter of a police detective, I always prefer to side with the police. But this time, I’m struggling.
“No matter how odd or confrontational Henry Louis Gates Jr. was that afternoon, he should not have been arrested once Sergeant (Jim) Crowley ascertained that the Harvard professor was in his own home.”
Ten-four, period and Amen. This was a situation where embarrassment, more than racism, was the prevailing malady. And embarrassment, more than violence, is as American as apple pie. Sorry, Rap Brown, but Kurt Vonnegut’s observation gets the cupcake this time around.
Dowd goes on to say that “President Obama was right the first time, that the encounter had a stupid ending, and the second time, that both Gates and Crowley overreacted.”
Not that this conclusion was all that difficult to reach, especially as the heat of the moment subsided and all those in the maelstrom, including Obama, were ready to put the whole thing behind them, continue paying the electric bills and keep obnoxious, “acting-out” argumentativeness where it belongs: Among loved ones.
Much as I, too, would like to leave it at that, there’s a sour taste lingering with me that has nothing to do with either Gates or Crowley, but with the immediate reaction to Obama’s charge of stupidity – for which he later apologized.
Don’t ask why, but I happened to watch the “Today” show the morning after that presidential press conference and the show’s spin-meisters had apparently decided that Obama’s spontaneous intervention in l’affaire Gates-Crowley overshadowed anything he had to say about health care reform – the ostensible purpose of that prime-time showcase. So it was the lead story for the show’s first (and least-brain-dead) hour.
The use of the word, “stupid”, especially seemed to unnerve the Victorian Beast that is mainstream media (Thank you, Tom Wolfe). Matt Lauer and his interview subjects seemed to obsess over whether the president had been presumptuous at best in using such strong language on a neighborhood dust-up.
“Stupid” is strong language? Granted, along with “shut up”, it’s one of the few non-curse words that grown-ups discourage their small children from using. But compared with saltier effusions of Harry Truman and the only-on-tape scatological riffs of Richard Nixon and Lyndon Johnson, it’s hardly the verbal equivalent of public defecation.
In fact, in the implied chiding of the president’s emotional, yet still rigorously contained outburst, I could hear a kind of collective gasp over the fact that the nice, well-spoken and thoroughly-educated African American man we’d elected president had…raised his voice in such a conspicuous manner. It was almost as if, for however long this story lasted before flaming out, Obama had assumed a kind of better-modulated, but no less pronounced belligerence towards those who’d believed him to be, well, less…obstreperous than other African American leaders.
Far more than the encounter between Crowley and Gates, I felt something in this reaction more than faintly reminiscent of the Bad Old Days of race relations in this country; that Obama had, by showing his anger on behalf of another Harvard-educated black man, behaved like a …yes…uppity negro to the mainstream; a mainstream that had apparently, but not surprisingly forgotten the president’s own insightful and eloquent words on racism’s lingering scars during last year’s campaign.
The Cambridge dust-up will recede, if it hasn’t already, to the precincts of celebrity gossip whose stories evaporate like Mountain Dew on linoleum, leaving, albeit, a sticky residue requiring more diligent scrubbing.
But the president is smart (or non-stupid) enough to know that however sincerely or deeply felt, his comments on such matters make him more vulnerable to the ditto-heads, both in public office and on the radio, waiting to trip those old, but still sturdy wires of condescension and dismissal threatening every person of color in and out of positions of authority. He also knows that there are two-faced, cunning greed heads who can’t wait to use such outbursts against the president in his push for, say, reforming health care.
I don’t blame him in the least for saying what he said about the Cambridge police. I said and thought the same things as an African American male. And I would have said the same things the president did after roughly 48 hours. But I also know how easily our humanity can be used against us as if it were a captured weapon.
Again: I don’t think I’m saying anything President Obama doesn’t know already. I’m just making sure the rest of us do, too.
--30 --
Sunday, July 26, 2009
Saturday, June 27, 2009
Michael Jackson: Special to CNN
You can read the full text of Gene Seymour's commentary at CNN.com
(excerpt)
"We wanted the loop of performances and hit singles. Retrieve for us, please, the electricity of the 10-year-old wunderkind who literally leapt into our consciousness in that shattering year of 1968 with "I Want You Back" and "ABC."
Let us see that transfiguring moment 15 years later at the Motown Anniversary TV special when Jackson seized dominion over the pop firmament with his shattering, moon-walking recital of "Billie Jean." We wanted the videos -- "Beat It," "Bad," "Thriller," "Black and White" and all that incredible, unearthly dancing. That was all we needed to see and hear. Save the armchair psychoanalysis for later. Maybe, much later."
++++++++++++++++++++++++++++++++++++++++++++++++++++++
Michael Jackson had an on-going presence in our household for many years. His music, videos and yep, his dance moves were watched more than once. This photo was Halloween, probably 1998. The biggest event was yet to come.
September 10, 2001: Chafin Seymour performed with Michael Jackson
Madison Square Garden was the venue for what is now Michael Jackson's last solo concert - it was the first live concert he had done in 11 years & was the 1st reunion of the Jackson 5 in 20 years.
The event was billed as the all-star salute to "The King Of Pop," MICHAEL JACKSON: 30TH ANNIVERSARY CELEBRATION, THE SOLO YEARS."
Chafin Seymour sang with the Brooklyn Youth Chorus at this performance - doing "Heal the World." The concert was also a CBS television special that aired in November. The line-up on the stage at Madison Square Garden was star-studded, to say the least. The list included for starters Liza Minnelli and Elizabeth Taylor. Gene (Seymour) was in Toronto at the Film Festival, but I remember Chafin talking with him at home after the concert and asking him, "Who is Elizabeth Taylor?"
The next day - September 11, 2001 - is the day we will never forget!
Tuesday, May 12, 2009
BLUE GRASS @ DANCE DOWNTOWN COLUMBUS
On Friday, May 8, you cannot imagine our surprise when we were greeted by this poster as we walked up to the the Capitol Theatre at the Ohio State Office building.
This piece, Blue Grass, was created by choreographer Susan Hadley, now at the Ohio State University. Blue Grass was originally commissioned in 1998 by Hubbard Street Dance Chicago with support from the Choo San Goh and H. Robert Magee Foundation.
To see the full performance, here is the video.
(Just so you know, the piece is 20+ minutes long.)
Chafin Seymour is the dancer in bright blue shirt and black pants. The other dancers are:
Jolene Bartley, Loganne Bond,Rachael Fullenkamp, Sarah Gibbons, James Graham, Daniel Holt, Kristen Jeppsen, Leigh Lotocki, Jeff Marras, Michelle Maroon, Lauren Smith and Sherrell Whitmire. Music is by Marc O'Connor & muscians.
Tuesday, April 21, 2009
"Chafin Dance" Updated: BlueGrass
Make your travel plans now to see "Dance DownTown" on May 7-9 in Columbus, Ohio. See a rehearsal preview of "Blue Grass"
This piece, created by Susan Hadley, is set to blue grass music played by virtuoso fiddler Mark O’Connor. Susan Hadley notes that to set this piece she needed "dancers who were athletes."
Chafin is in various parts of the rehearsals. FYI, he is wearing a grey OSU sweatshirt, a black & grey striped sweat, and a green tshirt & navy sweats!
Enjoy!
This piece, created by Susan Hadley, is set to blue grass music played by virtuoso fiddler Mark O’Connor. Susan Hadley notes that to set this piece she needed "dancers who were athletes."
Chafin is in various parts of the rehearsals. FYI, he is wearing a grey OSU sweatshirt, a black & grey striped sweat, and a green tshirt & navy sweats!
Enjoy!
St. Augustine's - "Emancipated From the Shadows"
St. Augustine's has been "our" church for many years. The church life includes Sunday school, confirmation and of course, raising money. Sunday services are unique combining traditional Episcopal traditions and liturgical music with the gospel choir and praise dancers. Meals at St. Augustine's are affairs that require fasting before and after. St. Augustine's has a very unusual place in the history of New York City.
Following is a description of St. Augustine's today (written by Marie) which provides a backdrop to the New York Times article from Sunday, April 19, reprinted below, with links to a slide show.
--By: Marie
St. Augustine’s is located in the ethnically diverse lower east side of Manhattan. Today, we are the largest African American congregation of any denomination on the Lower East Side of Manhattan. This year marks the 180th year of Episcopal Ministry in this now historic landmark building.
Our contributions to the community and to the Diocese of New York are many. St. Augustine’s has consistently opened our arms wide enough to celebrate our cultural and racial history, including our gospel choir and the St. Augustine’s praise dancers. We have sung mass and our acolytes are trained to support the traditions of the Episcopal Church.
Who are we? We are an African-American congregation. We worship in the shadow of a slave gallery, existing since the current building was constructed in 1828, a year after the State of New York outlawed slavery on July 4, 1828. We have an historic commitment to restore the slave galleries in order to preserve them, but also to make them accessible to visitors. We are listed in the International Sites of Conscience and this work is carried out through the St. Augustine’s Project
We are diverse: approximately 20% Hispanic and some two percent of our members are white. Our members are teachers, government workers, librarians and sanitation workers in the City of New York. A few of us are writers, or lawyers, or work in the criminal justice system. Many of us are retired and we are members that come from three and four generation families who have lived and grown up in the lower east side community. Today the youngest members of our families must often travel distances from Queens, New Jersey and the far neighborhoods of Brooklyn to St. Augustine’s because they can no longer afford housing in the neighborhood.
Our deeds speak to the character of our Christian ministry:
• We had one of the first ministries to persons living with HIV and AIDS, opening our doors for a needle exchange when it was illegal. We supported our Rector, Rev. Dr. Errol Harvey, who was prepared to go the jail to maintain the service.
• The second collection in every Sunday service is given to feed the homeless and the hungry.
• We have served as a beacon for union organizing, support for our extended family who are incarcerated; we have been home for displaced African communities living in New York City.
• We host youth groups from Colorado and Maryland; we host international visitors who are participating in programs with the Volunteers for Peace.
• Every high school graduate who goes on to college receives a $1,000 scholarship. From time to time, the men of St. Augustine’s send our college students a “stipend” – sometimes $50.00 or $20.00 – whatever can be afforded.
• Our Seniors organize a Christmas celebration for the mothers and children who live at Helen’s House, a shelter for victims of abuse and domestic violence.
And from the New York Times, April 19, 2009. . .
"FROM two tiny rooms high up and far back in St. Augustine’s Episcopal Church, with its neo-Georgian archways, straight-backed pews and simple, graceful detail, the legacy of slavery in Manhattan looks down.
The stone church, on Henry Street near Montgomery Street on the Lower East Side, was built for a patrician white congregation. But although it was completed in 1828, a year after slavery was legally abolished in New York State, behind the balcony and on either side of the organ are two cramped rooms, built so that black churchgoers could worship there without being seen by white parishioners.
“These spaces were never talked about,” said the deacon, the Rev. Edgar Hopper, an agile, bald gentleman of 79. “People knew there were instances of them being referred to as slave galleries.”
For decades, these galleries languished in a state of disrepair and were hardly discussed. Children often scrambled up the narrow staircases to play on the bleacherlike seats.
But after a decade-long restoration project led by Mr. Hopper, work on one gallery was completed late last month, and the space will open for tours at the end of this month.
The project began when the Rev. Errol Harvey, Mr. Hopper’s supervisor, noticed that census data showed a diminishing
African-American population in the gentrifying Lower East Side. Mr. Harvey suggested looking into the silent heritage of St. Augustine’s, which today serves a primarily black congregation, and the task fell to Mr. Hopper.
Not everyone applauded his efforts.
“Many were uncomfortable with the restoration,” he said. “Slavery is still a sensitive subject, and not just the guilt associated with owning slaves. There is also a lot of denial associated with being descended from slaves.”
To research the subject, Mr. Hopper searched vaults at the diocese, reading archives and vestry minutes from the early 1800s in search of the names of those who may have worshiped in those rooms. Their numbers included Henry and Phoebe Nichols, a couple baptized there in 1829.
With help from the Lower East Side Tenement Museum, a quarter of a million dollars was raised for the project.
The other day, Mr. Hopper led a visitor up a steep, twisting staircase to the space. It is painted beige and lighted with a single bulb. Six crude steps face an opening high above the sanctuary. Because of the angle, worshipers here could not be seen by those below.
Still visible on one wall are faint pencil scrawls made by children. Until the 1930s, the gallery was used as a Sunday school for African-Americans.
Mr. Hopper sat down on a step. “In the summer,” he said, “it’s stifling here."
Following is a description of St. Augustine's today (written by Marie) which provides a backdrop to the New York Times article from Sunday, April 19, reprinted below, with links to a slide show.
--By: Marie
St. Augustine’s is located in the ethnically diverse lower east side of Manhattan. Today, we are the largest African American congregation of any denomination on the Lower East Side of Manhattan. This year marks the 180th year of Episcopal Ministry in this now historic landmark building.
Our contributions to the community and to the Diocese of New York are many. St. Augustine’s has consistently opened our arms wide enough to celebrate our cultural and racial history, including our gospel choir and the St. Augustine’s praise dancers. We have sung mass and our acolytes are trained to support the traditions of the Episcopal Church.
Who are we? We are an African-American congregation. We worship in the shadow of a slave gallery, existing since the current building was constructed in 1828, a year after the State of New York outlawed slavery on July 4, 1828. We have an historic commitment to restore the slave galleries in order to preserve them, but also to make them accessible to visitors. We are listed in the International Sites of Conscience and this work is carried out through the St. Augustine’s Project
We are diverse: approximately 20% Hispanic and some two percent of our members are white. Our members are teachers, government workers, librarians and sanitation workers in the City of New York. A few of us are writers, or lawyers, or work in the criminal justice system. Many of us are retired and we are members that come from three and four generation families who have lived and grown up in the lower east side community. Today the youngest members of our families must often travel distances from Queens, New Jersey and the far neighborhoods of Brooklyn to St. Augustine’s because they can no longer afford housing in the neighborhood.
Our deeds speak to the character of our Christian ministry:
• We had one of the first ministries to persons living with HIV and AIDS, opening our doors for a needle exchange when it was illegal. We supported our Rector, Rev. Dr. Errol Harvey, who was prepared to go the jail to maintain the service.
• The second collection in every Sunday service is given to feed the homeless and the hungry.
• We have served as a beacon for union organizing, support for our extended family who are incarcerated; we have been home for displaced African communities living in New York City.
• We host youth groups from Colorado and Maryland; we host international visitors who are participating in programs with the Volunteers for Peace.
• Every high school graduate who goes on to college receives a $1,000 scholarship. From time to time, the men of St. Augustine’s send our college students a “stipend” – sometimes $50.00 or $20.00 – whatever can be afforded.
• Our Seniors organize a Christmas celebration for the mothers and children who live at Helen’s House, a shelter for victims of abuse and domestic violence.
And from the New York Times, April 19, 2009. . .
"FROM two tiny rooms high up and far back in St. Augustine’s Episcopal Church, with its neo-Georgian archways, straight-backed pews and simple, graceful detail, the legacy of slavery in Manhattan looks down.
The stone church, on Henry Street near Montgomery Street on the Lower East Side, was built for a patrician white congregation. But although it was completed in 1828, a year after slavery was legally abolished in New York State, behind the balcony and on either side of the organ are two cramped rooms, built so that black churchgoers could worship there without being seen by white parishioners.
“These spaces were never talked about,” said the deacon, the Rev. Edgar Hopper, an agile, bald gentleman of 79. “People knew there were instances of them being referred to as slave galleries.”
For decades, these galleries languished in a state of disrepair and were hardly discussed. Children often scrambled up the narrow staircases to play on the bleacherlike seats.
But after a decade-long restoration project led by Mr. Hopper, work on one gallery was completed late last month, and the space will open for tours at the end of this month.
The project began when the Rev. Errol Harvey, Mr. Hopper’s supervisor, noticed that census data showed a diminishing
African-American population in the gentrifying Lower East Side. Mr. Harvey suggested looking into the silent heritage of St. Augustine’s, which today serves a primarily black congregation, and the task fell to Mr. Hopper.
Not everyone applauded his efforts.
“Many were uncomfortable with the restoration,” he said. “Slavery is still a sensitive subject, and not just the guilt associated with owning slaves. There is also a lot of denial associated with being descended from slaves.”
To research the subject, Mr. Hopper searched vaults at the diocese, reading archives and vestry minutes from the early 1800s in search of the names of those who may have worshiped in those rooms. Their numbers included Henry and Phoebe Nichols, a couple baptized there in 1829.
With help from the Lower East Side Tenement Museum, a quarter of a million dollars was raised for the project.
The other day, Mr. Hopper led a visitor up a steep, twisting staircase to the space. It is painted beige and lighted with a single bulb. Six crude steps face an opening high above the sanctuary. Because of the angle, worshipers here could not be seen by those below.
Still visible on one wall are faint pencil scrawls made by children. Until the 1930s, the gallery was used as a Sunday school for African-Americans.
Mr. Hopper sat down on a step. “In the summer,” he said, “it’s stifling here."
Wednesday, April 15, 2009
ASSEMBLING THE SPACE STATION
(Posted by Marie)
The Seymours of sey-nah are truespace aficionados. The first full-length movie Gene introduced to Chafin was "The Right Stuff." From age two, Gene would fast forward through the borning parts of the two reels. When Chafin was about 4, he and Gene could spent an entire afternoon watching the movie - over and over again. They still do.
On a trip to Washington, D.C. I spent a whole day with Chafin looking for Gus Grissom's grave.
Don't miss this amazing piece of graphic info. Many thanks to my brother, Bob, for linking this up.
Assembling the Space Station
POINT & CLICK ON RIGHT SIDE TO SEE MORE !!! AFTER IT COMES TOGETHER - WAIT FOR PICTURE THEN CLICK ON TRIANGLE FOR MORE DETAILS.
The Seymours of sey-nah are truespace aficionados. The first full-length movie Gene introduced to Chafin was "The Right Stuff." From age two, Gene would fast forward through the borning parts of the two reels. When Chafin was about 4, he and Gene could spent an entire afternoon watching the movie - over and over again. They still do.
On a trip to Washington, D.C. I spent a whole day with Chafin looking for Gus Grissom's grave.
Don't miss this amazing piece of graphic info. Many thanks to my brother, Bob, for linking this up.
Assembling the Space Station
POINT & CLICK ON RIGHT SIDE TO SEE MORE !!! AFTER IT COMES TOGETHER - WAIT FOR PICTURE THEN CLICK ON TRIANGLE FOR MORE DETAILS.
Goldman-Sachs: The Profit Should Have Been Higher
(Today, I gave my friend the following letter to include in the Goldman-Sachs' mail delivery. Posted by Marie)
Edward Liddy, Chief Executive, AIG - % Goldman-Sachs
David Finiar, Chief Financial Officer, Goldman-Sachs
Wall Street
New York, NY
Dear Mr. Liddy & Mr. Finiar:
I am writing to invite you to receive the 2009 "Best Capitalist Business Practices” Award. While only the first quarter of 2009 has been reported, a panel of experts has determined that no other capitalist could possibly out distance the achievements of Goldman-Sachs in what's left of 2009.
This is a unique award. You were selected by a panel of experts from the Prospect Heights Entrepreneurs Without Portfolio (PHEWP).
I am pleased to highlight the Goldman-Sachs "best practices" achievements since receiving $10 billion from the US. Treasury in October 2008 and $12.9 billion from the AIG bailout.
Goldman-Sachs Best Capitalist Business Practices
1. Oil the VERY BIG Revolving Door: Have many alumnae with real power in high places. This is a traditional practice of a good capitalist. However, Goldman-Sachs has taken this to a very refined level. Going through the revolving door are:
Henry Paulson, a former GS chief executive, while Secretary of the Treasury, is credited with the singular achievement of “forcing” GS to take $10 billion dollars for toxic asset relief, while getting rid of all the possible competition – (Bear Sterns, Lehman Brothers – gone and Merrill-Lynch force-fed to Bank of America at a hefty price).
Robert Rubin, pioneered the VERY BIG Revolving Door practice in 1993 when he left the G-S Chairman’s door to become National Economic Council director and then Secretary of the Treasury for the Clinton Administration.
Obama Treasury Secretary Timothy Geithner (a protégé of Robert Rubin)has given “Steve Shafran, a former favorite of Paulson's, and Bill Dudley, Goldman's former chief economist and now the successor to Geithner as head of the New York Fed the task of resurrecting the market for securitized assets” Goldman Sachs has more than 30 ex-government officials registered to lobby on its behalf
2. Oil the VERY BIG Revolving Door Often with all partners who might “owe you money". This was very successful with Edward Liddy, appointed by Henry Paulson as the current AIG Chief Executive and who was a former GS Board member, has achieved a significant best practice. All those bad business practices investments got paid off by those pesky credit-default swaps from the $170 billion AIG Federal rescue package – authorized by – (back to the top) Henry Paulson. Goldman received just under 10% of the $170 AIG bailout to day.
Now, that is a class act!
3. Change Your Underwear Often. This best practice should be used regularly. The most recent success was how Goldman-Sachs successfully changed itself into a bank holding company last year (with the blessings of the Feds, hmmm, Goldman-alumnae of course). Why is this important…? See No.4.
4. Change The Calendar. When Goldman changed underwear to become a bank holding company, it required changing the accounting fiscal year to end on December 31 (2008) instead of November 30, 2008. Who would have guessed but this changes the quarterly reporting and the result is that December doesn’t count in the First Quarter profit reports. Goldman lost approximately $2.6 billion in December, 2008.
This is brilliant.
5. Share The Wealth but OUTSOURCE to Insure Not Sharing the Wealth Too Far. According the the Wall Street Journal, over 900 Goldman employees received bonuses of $1 million for their stellar accomplishments in 2008. In contrast, Goldman-Sachs mail is delivered by persons who make $15.00 an hour ($10.00 an hour to start), with no bonuses. All made possible by outsourcing.
The Best Capitalist Business Practices Award ceremony will be presented on May 1, 2009 at 10:00 a.m. (in order to make the evening news on NY1). The ceremony will be on the steps of the Brooklyn Public Library at Grand Army Plaza.
While you are here, the Prospect Heights Entrepreneurs Without Portfolio (PHEWP) will present a special investment proposal to Goldman-Sachs that will increase your profits next quarter (it is guaranteed by the U.S. Treasury).
The PHEWP is seeking your investment in the
Fund to Save the Luxury Greenbrier from becoming A Toxic Asset. Our research shows that luxury hotels are being forced into bankruptcy which certainly makes them toxic. While there are several properties that will soon be bankrupt, our first choice is The Greenbrier Resort in West Virginia. We are proposing to make this location a luxury retirement home for us, oops, I mean the shareholders of the PHEWP. If we purchase this toxic asset now, we can train the staff so that they won't hurt us when we become really old. This is a win-win proposal because we know how much the bank and finance industry executives have enjoyed their conference held every fall with representatives from the U.S. Congress and Federal Agencies.
We look forward to your visit on May 1, 2009. There will be a brief dance of the Maypole prior to the award presentation. Please rsvp as soon as possible to PHEWP@seynah.blogspot.com. We want to arrange for the appropriate media coverage.
Edward Liddy, Chief Executive, AIG - % Goldman-Sachs
David Finiar, Chief Financial Officer, Goldman-Sachs
Wall Street
New York, NY
Dear Mr. Liddy & Mr. Finiar:
I am writing to invite you to receive the 2009 "Best Capitalist Business Practices” Award. While only the first quarter of 2009 has been reported, a panel of experts has determined that no other capitalist could possibly out distance the achievements of Goldman-Sachs in what's left of 2009.
This is a unique award. You were selected by a panel of experts from the Prospect Heights Entrepreneurs Without Portfolio (PHEWP).
I am pleased to highlight the Goldman-Sachs "best practices" achievements since receiving $10 billion from the US. Treasury in October 2008 and $12.9 billion from the AIG bailout.
Goldman-Sachs Best Capitalist Business Practices
1. Oil the VERY BIG Revolving Door: Have many alumnae with real power in high places. This is a traditional practice of a good capitalist. However, Goldman-Sachs has taken this to a very refined level. Going through the revolving door are:
Henry Paulson, a former GS chief executive, while Secretary of the Treasury, is credited with the singular achievement of “forcing” GS to take $10 billion dollars for toxic asset relief, while getting rid of all the possible competition – (Bear Sterns, Lehman Brothers – gone and Merrill-Lynch force-fed to Bank of America at a hefty price).
Robert Rubin, pioneered the VERY BIG Revolving Door practice in 1993 when he left the G-S Chairman’s door to become National Economic Council director and then Secretary of the Treasury for the Clinton Administration.
Obama Treasury Secretary Timothy Geithner (a protégé of Robert Rubin)has given “Steve Shafran, a former favorite of Paulson's, and Bill Dudley, Goldman's former chief economist and now the successor to Geithner as head of the New York Fed the task of resurrecting the market for securitized assets” Goldman Sachs has more than 30 ex-government officials registered to lobby on its behalf
2. Oil the VERY BIG Revolving Door Often with all partners who might “owe you money". This was very successful with Edward Liddy, appointed by Henry Paulson as the current AIG Chief Executive and who was a former GS Board member, has achieved a significant best practice. All those bad business practices investments got paid off by those pesky credit-default swaps from the $170 billion AIG Federal rescue package – authorized by – (back to the top) Henry Paulson. Goldman received just under 10% of the $170 AIG bailout to day.
Now, that is a class act!
3. Change Your Underwear Often. This best practice should be used regularly. The most recent success was how Goldman-Sachs successfully changed itself into a bank holding company last year (with the blessings of the Feds, hmmm, Goldman-alumnae of course). Why is this important…? See No.4.
4. Change The Calendar. When Goldman changed underwear to become a bank holding company, it required changing the accounting fiscal year to end on December 31 (2008) instead of November 30, 2008. Who would have guessed but this changes the quarterly reporting and the result is that December doesn’t count in the First Quarter profit reports. Goldman lost approximately $2.6 billion in December, 2008.
This is brilliant.
5. Share The Wealth but OUTSOURCE to Insure Not Sharing the Wealth Too Far. According the the Wall Street Journal, over 900 Goldman employees received bonuses of $1 million for their stellar accomplishments in 2008. In contrast, Goldman-Sachs mail is delivered by persons who make $15.00 an hour ($10.00 an hour to start), with no bonuses. All made possible by outsourcing.
The Best Capitalist Business Practices Award ceremony will be presented on May 1, 2009 at 10:00 a.m. (in order to make the evening news on NY1). The ceremony will be on the steps of the Brooklyn Public Library at Grand Army Plaza.
While you are here, the Prospect Heights Entrepreneurs Without Portfolio (PHEWP) will present a special investment proposal to Goldman-Sachs that will increase your profits next quarter (it is guaranteed by the U.S. Treasury).
The PHEWP is seeking your investment in the
Fund to Save the Luxury Greenbrier from becoming A Toxic Asset. Our research shows that luxury hotels are being forced into bankruptcy which certainly makes them toxic. While there are several properties that will soon be bankrupt, our first choice is The Greenbrier Resort in West Virginia. We are proposing to make this location a luxury retirement home for us, oops, I mean the shareholders of the PHEWP. If we purchase this toxic asset now, we can train the staff so that they won't hurt us when we become really old. This is a win-win proposal because we know how much the bank and finance industry executives have enjoyed their conference held every fall with representatives from the U.S. Congress and Federal Agencies.
We look forward to your visit on May 1, 2009. There will be a brief dance of the Maypole prior to the award presentation. Please rsvp as soon as possible to PHEWP@seynah.blogspot.com. We want to arrange for the appropriate media coverage.
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