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Matthew J. Webster – Writer

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“Breaking up big banks” is BS.

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Former Secretary of Labor and cloying nudist Robert Reich has piped up in defense of Bernie Sanders, a transcript of whose interview with the NY Daily News seems to display some uncertainty regarding federal authority over large financial institutions.

But today the promise to go gangbusting on financial industries is a red herring raised ten years too late, and it’s improbable and dishonest coming from political candidates.

Dodd-Frank provides for federal liquidation and receivership of banks and other institutions even where the company’s board doesn’t want it to happen.

However, Sanders, Clinton and other pols who want to “break up the big banks” are ignoring the fact that these same institutions are the undisputed champions of complying with federal regulations.

That’s not easy to do, and it’s exactly how they got “too big” in the first place. Institutions grew so complex that they could profit from unethical practices that were NOT illegal, yet.

If certain companies made exactly the same mistakes today that they did ten years ago, yes, the FDIC would have the power to liquidate them now. It’s an appealing prospect to Americans who, rightly, feel cheated by the subprime lending scandal and bailouts that followed. And it’s not going to happen.

Written by webster71

April 6, 2016 at 19:45

Muay Thai Hygiene

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Here you see my mouthpiece. Anti-septic for unarmed combat.

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January 6, 2014 at 17:28

Posted in Sport, Uncategorized

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Wicked Tuna Breakdown – S1/E6

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5/7/12 – CAMBRIDGE,  #MATTHEW J. WEBSTER

The reel-fishing New Englanders of reality TV are affronted by some “snotty” (foul) weather in Episode Six, which makes it the first time viewers see the truly punishing conditions North Atlantic fishermen work under.

Captain Dave Marciano of the Hard Merchandise balances the prospect of rain, twenty-foot-high seas and winds of thirty miles an hour with the upcoming end of the commercial tuna season, and decides to fish while he can. He and first mate Jason Muenzner proceed to Stellwagen Bank, north of Cape Cod, where they hook a five-hundred-pound fighter that drags the boat two miles from its anchor and takes them an hour to get onboard, Hemingway style.

Triumph flirts with tragedy when the boat’s engine dies and Marciano can’t raise help on the radio, but finally he gets it to turn over and steams his slob home safely.

“When that wind comes up and that ocean gets big, it’s a violent place to be,” says Capt. Dave Carraro of the Tuna.com, while his first mate, Paul Hebert, heaves modestly in a corner. Carraro does come home with a fish for his trouble, as does F/V Odysea skipper Ralph Wilkins. Each skipper points out at the beginning of the episode that tuna feed more aggressively in rough weather. Every storm at sea requires a cost-benefit analysis where the benefit is a paycheck and the cost of foolishness could be life-threatening.

WICKED TUNA QUOTE OF THE WEEK: S1/E6

“If you brave the elements long enough and you fish hard enough, it pays off in the end.” – Pirate, first mate of the F/V Odysea

Written by webster71

May 7, 2012 at 18:15

Wicked Tuna Breakdown – S1/E5

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4/30/12 – CAMBRIDGE,  #MATTHEW J. WEBSTER

With Captain Kevin Leonowert of the f/v Christina coming off a season-high giant tuna catch in the last episode, Week Five finds him hooking and losing not one but four likely keepers.

NatGeo’s producers show their savvy by positioning Leonowert to personify Aristotle’s concept of peripitea, as described in Poetics: it’s more dramatic to portray a once-vaunted man who has fallen on hard times than the other way around.

Capt. Dave Marciano makes a smart move by bringing his teenage son, Joseph, out on the Hard Merchandise, and is rewarded when the lucky youth reels in a 600-pound fatty. Marciano coaches confidently as his son finishes the job, and the crew is treated to a traditional family greeting when they find Dave’s wife, Nancy, and their youngest daughter waiting at the dock for their return.

Capt. Ralph Wilkins, of Provincetown’s f/v Odysea, comes up short for slobs this week, but demonstrates sufficient patience and chum-chucking technique to show he’s a break-even skipper at worst, and more likely a badass fisherman. Bravo to NatGeo for also including an informational spot during the third commercial break to let a balanced selection of scientists and experts outline their perspectives on tuna conservation.

WICKED TUNA QUOTE OF THE WEEK – Episode Five

“I’m not arrested, and we’re good to go.”

–Paul Hebert, first mate of the Tuna.com, after Coast Guard officials have completed a routine onboard regulatory check.

Written by webster71

April 30, 2012 at 14:03

Rhododendron

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Rhododendron at the SF Conservatory of Flowers

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April 7, 2012 at 14:23

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Vatican delegation blesses Urquell, the original golden Pilsener…

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April 4, 2012 at 20:43

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Told ya…

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Written by webster71

April 2, 2012 at 19:49

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