Tuesday, January 15, 2008

Rating Interests

Congress is back in session today following their long holiday break—at least those that aren’t interviewing with the American Public for a new job.

What’s top on the list?
Interest Rates, Energy Policy, or Homeland Security?

No, it's The Great Steroid Scandal in pro Baseball that is in the Capitol Hill spotlight, as the House Oversight committee holds hearings today, reviewing the Mitchell Report.

Let’s think about this: Citi is about to lose its shorts over dicey mortgages souring on the vine, we’re paying north og $3/gal in gasoline that’s diluted by grain alcohol, and our elected representatives would rather spend their time chasing a bunch of over-paid jocks who like to boost their stats by shooting up with HGH.

That sort of galls me: Where’s the congressional investigation into the banking industry for the financial equivalent of steroids enhancing their quarterly reports? In this context, HGH could well be interpreted as Housing Growth Hormones, anabolic off-balance sheet portfolios…artificially beefing-up the ledgers. And like an athlete who's performance is artificially sustained with such suppliments, once the elixer of easy credit and fast cash is removed, the banks are folding up like a runner tagged along the baseline, unable to outrun the infielder.

Which is going to impact your life more this year—what Andy Petit did or did not inject into his veins, or what Citi, Merrill and Countrywide did or did not inject into those marginal mortgage portfolio pitches?

On which problem do you want your Congressman spending his time?

This morning’s show is Totally Spearless: We’re officially Britneyless.
Given all the challenges that our nation is facing, I simply do not understand the national preoccupation with this troubled woman, and wish the shallow-minded media minions would just leave her alone and keep her sordid life off the TV and out of the news.

Tried to watch a little TV last night, and could not get away from the video clips.

Who the flip cares what she wears, where she’s going, or what she’s doing? What does it matter in making your life better, making you smarter, and helping your family?
Nada, zilch, zero.

I actually felt stupider for having been exposed to the story last night on three different channels, like I’d lost brain cells from the exposure to the energy-sucking tale.
A net mental loss experience.

So just like Mike Norman’s No Weasel Zone, this is a Brittney-free zone on The BizRadio Network.

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