Wednesday, April 15, 2009

Pirates are Boarding the Ship

If America's problems were only as simple as stopping Somalian pirates from boarding a ship.

At least with pirates you can:
1) tell the difference between the pirates and the crew of the ship
2) call out the Military and shoot a few pirates to show them you mean business
3) pay them ransom and get your ship back
4) if things get really out of hand, again call out the Military to drop a couple of bombs on their million-dollar compounds inside of Somalia

Pirates are after all thieves and when they steal or receive ransom, the shipping line is out the money but the pirates spend it on electronics, boats, weaponry, luxury items, their payroll, etc. The money is recirculated in the global economy.

Unfortunately, America's pirates do not stick out in their speedboats armed with rocket launchers and AK47s but rather they wear suit and tie and arm themselves with lawyers or lobbyists or PAC money. Also unfortunate, is the fact that America's pirates are WORSE than thieves. I first learned this expression in graduate school taking a course in the Taguchi approach to statistical analysis of designs.

"Worse than a thief" means that what is gained (in cheapening the design) is far outweighed by what is lost (to society).

Transaction based incentives whether at Freddie Mac, Fannie Mae, Countrywide or AIG sent a few million dollars into the pockets of the executives, brokers and agents and led to the collapse of the US Real Estate Market.
By my estimation, for the gain of $500 Million in Bonuses and $500 Billion in profits, these pirates caused $7 Trillion dollars in damages. I would take a thief any day.

Both Republicans and Democrats walked these thieves into the vault and looked the other way as they not only looted the vault but destroyed the bank.

1 comments:

  1. William O'SheiApril 16, 2009 6:13 AM

    this is really great but you need an editor i think - your son

    ReplyDelete