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What I am reading now: “Coming Apart: The State of White America, 1960-2010” by Charles Murray

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Coming Apart: The State of White America, 1960-2010

Coming Apart (you can get it at above Amazon link for $13.00) starts off just right.  Murray argues that American history can be divided into before JFK was assassinated and after JFK.  Interesting.  He provides many arguments why that is the case and I have to agree with him.  It was the visible dividing line for the cultural heating up of America and its economy and the beginning of the ultra rich in America that made black billionaires possible like Oprah.

I like the book because he does something that most books don’t do: he talks about the middle class (the white definition that would be rich for a black person) and what it means.  I love talk about money and economy and wealth.

I started out life middle class and was never one of the hungry who had to go to an Ivy school, even though I could have if I wanted to.  I married stupid and young.  My ex husband thought like his friends that being on welfare as a young, single black male in Chicago was no big deal.  In fact it seemed de rigeur for many. 

My family had never been on welfare or used food stamps and I did not know what it was all about.  He enrolled the family on welfare after we got married and I had my first two children thanks to the health care provided by the government.   We were on AFDC as it was called them for a few years.  After we divorced I immediately got a job.  Years later, I was a college dropout, I returned to college, graduated and got a real job and a real career.

Yes, I make more money than ever and have everything I want and need including a big house that I share with a gray cat, and a new silver gray Ford Focus that’s pretty good on gas.  It is possible for a single mother, former welfare and food stamp user to get a degree and live on their own.

Anchor Babies can legalize their illegal parents too

The two citizenship benefits that have drawn the most attention in the birthright citizenship debate are, first, food assistance and other welfare benefits to which a family of illegal aliens would not otherwise have access, and second, the ability of the child when he grows up to legalize his parents, and also to bring into the United States his foreign-born spouse and any foreign-born siblings. The sponsored spouse can, in turn, sponsor her own foreign-born parents and siblings, and the siblings can, in turn, sponsor their own foreign-born spouses, and so on, generating a virtually never-ending and always-expanding migration chain. source

Examining the Failure of The SEC–Madoff’s victims revealed UPDATE

Back in the day of Heloise living in Chicago with like-minded artists, circa early to late 1970s. Lovers of Bohemia were my best friends. It was here that we brought it to an artform–being penniless just before the welfare check and the food stamps roll in.

When you would ask your friend to do something or to go somewhere they would simply look at you and say “my money’s kinda funny right now.” You knew exactly what they were talking about. They were broke until welfare pay day. Voila, this category  “When The Money Gets Funny.”

The money on the stock market thanks to greedy billionaires, oil speculators and shady investors has gotten very funny. Hedge funds and the subsequent scams by people like Bernie Madoff, who rewrote the definition of Ponzi scheme, has made not only his money real funny but the rest of the known world can also chime in: where’s my money?

What Madoff has done is akin to a Jewish financial holocaust. He has single handedly wiped out entire Jewish charities. He had help though didn’t  he?

Madoff has the help of the feds in general and the SEC, securities exchange commission in particular, to create some real “funny money.” He floated paper like a Sicilian don with beaucoup bodyguards. Even though the commissioners didn’t get any of the cash they helped old Madoff make out like a bandit with billions under his money belt.

Heads should roll at the SEC, big heads and little heads

Thomsen faced grilling along with Lori Richards, who heads the SEC’s inspections division, and Stephen Luparello, the interim chief executive of the Financial Industry Regulatory Authority. FINRA, the industry regulator, was headed until last month by Mary Schapiro, President Barack Obama’s new SEC chairman.  msnbc

These folks were grilled but no one was buying what they were cooking up in terms of explanations. There is only one solution: heads big and small should roll.  With Mary Schapiro who was on the SEC during the time that probes had been initiated on Madoff, is  safely on Obama Island after NOT overseeing a damn thing, there are others left. Think of the people on Wall Street or any street that would be lined up around the block to fill the seats, desks and places of these folks?

WTF happened? He has been probed since 1982!!! But no smoking gun has turned up or if it did its smoke quickly extinquished.  Some see Schapiro as the SEC savior here’s a bio what little I could find:

EXPERIENCE — Chief executive officer of the Financial Industry Regulatory Authority, formerly NASD Regulation, since 2006; vice chairman of NASD Regulation, 2002-06; president of the organization, 1996-2002; chairman of the Commodity Futures Trading Commission, 1994-96; member of the Securities and Exchange Commission, 1988-94; general counsel and senior vice president for the Futures Industry Association, 1984-88; counsel and executive assistant to the chairman of the Commodity Futures Trading Commission, 1981-84; trial attorney for the CFTC in the manipulation and trade practice investigations unit of the enforcement division, 1980. San Francisco Chronicle (source)

I watched parts of the SEC hearings when the man,  Markopolos, who wrote nearly a book on the Madoff scam was testifying. He said they couldn’t find first base in Fenway Park if you sat them there! Ouch.

He was livid even though he said he feared for his life. He was on Madoff like the Star of David on a German Jew, to no avail. Harry Markopolos can be found at this link from Huffpo

Granted we don’t really know what went right with the probe of the SEC. But we do know what went wrong and what doesn’t work: Doing nothing, hearing nothing, seeing nothing and not being where the action is.  Wall Street is where the action is. And that might be a first but not final solution to this evil that has become the SEC. We the people can’t trust this government agency. It should be dissolved along with the people running it and really start over. WHen it starts over it should be tiered and include lay people on the board and bloggers too.

Mary Schapiro has a lot of answering to do for her lack of oversight and clearly lack of leadership. Has Obama put another unlit torch on the island? Hopefully she is one bright Jew who can smoke out the next Jew or any other nationality or race who so disgracefully walks all over the people to make a few billion bucks.  This is not the only scheme they missed, it won’t be the last. But hopefully it will go down in history as the last greatest Ponzi scheme ever. Oh boy.

To go with that Oh boy is the full list of Madoff’s victims. It is a 163 pdf document at this link for the New York Post