The Midday Burn - January 14, 2010

Bailouts!

I'm knee-deep in Andrew Ross Sorkin's Too Big To Fail, so the state of banking and free-market economics is in the front of my mind. I'll give the book a full review when I'm done, but I'd like to speak to a few observations I have seen as I reach the half-way point of the book.

1. A serious lack of diversity
Almost all of the CEOs and high-level decisions makers are white, ivy-league educated, Jewish or WASP men. They recruit talent from the same schools and social networks they are a part of. The call themselves the best and brightest, however, they operate in a bubble that caused them to drink their own Kool-Aid and damn near destroy our financial system. Come on... its 2010, time to let the people of color and women into the arena, just like we see in many other facets of life.

2. No Accountability
So far, Dick Fuld is the most fascinating character in the book, as his personality and detachment from the day to day of Lehman Brothers cause it to crumble. Its amazing to read how someone that is supposed to run a company and make it a long-term success can cause it to fail so miserably.

3. Socialism
I laugh when I read about pure market people talk about socialism like its the worst thing that has ever happened to the world. Its not racism; its socialism. So many Americans are quick to point out where their ancestors are from (Irish-American, etc) in Europe, which is a very socialist continent. Why don't they claim this part of their heritage?

To a larger point... People that really know me understand that I am a libertarian, and a devotee of Ayn Rand. I count Atlas Shrugged and The Fountainhead as two of the most influential books that I have ever read. I am a true free-market advocate, and believe in my ability to succeed due to the fact that we have so much freedom. That being said, I cannot stand the smugness of the finance underlings that push paper and bean count and think their jobs are sooo important. They're not; you're paid well, but you're still an employee, just like anyone else. No need to feel condescending for little people working in NPOs and for the public sector; you're job is not guaranteed, and at the end of the day, its all about where folks finish, not start. The job "correction" that's taken place in the financial market has been a subtle reminder that nobody is safe. (Okay, I'm over it.)

January 11, 2010 - Morning Burn

Playoff Football

You can't beat the NFL playoffs... I mean March Madness is great, but it is all about rooting for an underdog and about the office pool. Fun to watch, but since players graduate or go to the pros, you don't get great story lines that go for multiple years. MLB playoffs are great, but because of the series format, only the clinching games seem to be must-see tv; same goes for the NBA. But the NFL playoffs, starting with Wild Card weekend, is the best sports month a fan could wish for. Even though my beloved Giants did not make it, I'm still able to root for each team in each game without worrying about Big Blue implications.

I am a professed Eagles hater, so it was wonderful to see the Dallas Cowboys wash the Birds out of the playoffs this year. I have a great respect for what the Reid-McNabb Eagles have accomplished, bringing their franchise out of the basement and making them a dangerous, perrenial playoff contender. But I think they have seen an official closing of their window, as Brian Westbrook's health is in question, and the defense is not what it used to be. Losing both Jim Johnson and Brian Dawkins has finally come back to haunt them. However, the Birds would be foolish to trade McNabb, as he is the only QB that will give them a chance to make the playoffs every year. It would be crazy to think that Michael Vick, and or Kevin Kolb could replace McNabb, but it might happen. Or, they might trade Vick, and keep McNabb, leaving Kolb as QB in waiting. We'll see.

It was also great to see the Patriots get rocked by the Ravens. It was embarrasing how much the NFL covered up "SpyGate" and annoited BB a genius. Well, since he got busted cheating, he's looked human, losing the Super Bowl to Eli and Co, and now losing for the first time at home in the playoffs. This doesn't take away the three SBs that he's won, but the 2010 Patriots looked alot like the 2006 New York Yankees. If they don't reload, they will be in big trouble.

Here are my predictions for next week:
AFC
Jets at Chargers: Chargers 28 Jets 17
Ravens at Colts: Ravens 21 Colts 14

NFC
Cardinals at Saints: Cardinals 34 Saints 31
Cowboys at Vikings: Cowboys 24 Vikings 17

By the way, NY Knicks are 15-21... currently the 7th seed in the Eastern Conference... Lets Go!

Tiger Woods - Pt. 1

Here's an email I sent to a college professor of mine about Tiger. Here it goes...

I do my best to not watch the news or read the newspaper too often, but I, like everyone else, have been unable to escape the Tiger Woods story. With two wars going on, the economy in very bad shape, and kids getting shot in The Bronx, I would have thought that there were more important things to worry about, but alas, I am incorrect as the TMZ/reality trash/US Weekly masters of the universe have managed to turn a golfer into the most important moral issue of the day.

#1 – Morals?

I do not think that Tiger Woods’ behavior was correct. Dude is married, with children, and he should not be out there committing high-risk behavior and then going home to his wife. Definitely not a good look. However, I do not believe that the media should be playing the moral judge of character and conduct, especially trash publications like TMZ, US Weekly et. al, because they do nothing but follow famous people around, which I would argue is an immoral assault on people’s privacy. Just because somebody is “famous” does not mean that you have the right to stick a camera in their face after they come out of the bathroom because you somehow feel a sense of entitlement to someone’s life because they are your favorite actor or athlete. Mind your own business and get a life.
And for the money argument, look at the top executives at Goldman Sachs, NBC, Disney. They make tens of millions of dollars. Do we follow them around with cameras because they make a lot of money? Maybe we should, but we don’t.

#2 Marriage?

I hate to say this, but marriage ain’t what it used to be. Over 50% of marriages are ending in divorce, and with the expansion of connectivity that our society has witnessed, I believe those numbers will rise. I blame 75% of this on men, as we are too horny for our own good, and end up thinking with the little head a bit too much. We like Craigslist ads and internet porn. However, I think that women need to be much smarter with their decisions in spouses. I can think of people that I went to high school and college with that have gotten married, and have clearly ignored the warning signs of their spouse’s behavior. If I know that your then boyfriend and now spouse cheated on you, and we are not even friends, how many other people know? Are you the only person that did not know? Someone very close to me, and a recent divorcee, said that she caught her husband cheating while they were “dating” but thought that things would change when they got married. Twenty years later, it did not, and they got divorced after he was caught in a few long-term affairs. Sound familiar? The warning signs are there; are we listening?
Kudos to those loyal husbands that don’t cheat. I’m not sure if you are happier at the end of the day, but you have my respect.

#3- The Entourage

I find it hard to believe that Ms. Woods was completely in the dark about this. Simply put, take a look at Tiger’s closest advisors and friends, such as Michael Jordan and Charles Barkley. Have you heard about what these guys do for fun? Jordan is an icon, but is also a notorious philanderer, a fact covered up by a soft media that did not go after him (in full disclosure, I am a Knicks fan, and believe that the NBA conspired to have the Bulls in the finals and threw games the Bulls way to save the league) and chose not to report his prolific cheating. Barkley is not the icon that Jordan is, but he is in the same cheating boat, and was recently caught by police driving drunk to receive oral sex from a woman that was not his wife. Those are the stories that we know of. So, its not like Tiger is hanging out with house Dads that go to Costco and Home Depot for fun, and attend pancake breakfasts at the local fire hall. If your husband hangs out with dudes that cheat, chances are that “guys night out” is more about other woman than hanging with the guys.

#4- The Endorsements.
Corporate America distances themselves from anybody that does something remotely human, because it can hurt their brand. I understand it, but these companies need to get over themselves. Gatorade will sell unless Osama Bin Laden is pitching it. Nike? No way they drop Tiger; he made them a legitimate golf contender. I have Nike clubs because of Tiger. I ain’t the only one. And, by the way, they make their sneakers in sweatshops. Point: Tiger. Other companies ran away from Kobe, only to find that he was not convicted of rape, and rebuilt his image so that nobody even remembers that he was on trial for rape. How are those companies that dropped him feeling now? Corporate America really means not loyal to anyone, so its not really a big deal that some sponsors chose to drop Tiger. If they were really flabbergasted, then they should give back the money that he earned them while he was endorsing. I’ll begin to hold my breath.

#5 – Tiger is Bigger than us all
Tiger Woods does not need endorsements. Nor does he need to be in the good moral graces of society. He is the greatest golfer the world has ever seen, and nothing will change that. His mental focus, and tenacity on the golf course is almost machine-like; to truly appreciate it, one has to play golf and try to stay focused with nobody watching, let alone millions and millions watching. The guy eats pressure for lunch. The best move for him is to get divorced, pay his wife something (like 25% of his net worth, because I don’t remember her sinking any putts or winning a green jacket), and live up the villain thing. Go out, hook up, enjoy life. Instead of wearing Red on Sunday, wear black all the time. Ignore the media. Win tournaments. At the end of the day, you don’t have to answer to anybody. Take a page out of the A-Rod book: dumps his wife, hooks up with a Hollywood hottie, and becomes clutch in the playoffs and wins a World Series ring for the New York Yankees. Not too bad.
Would the media cover this story if Tiger was sleeping with all black women?

Two Month Break

So, I promised to blog daily, and publish those rants. I did not, and I am kinda pissed that I didn't but life presents new opportunities to start fresh. Here we go!

Chris Henry
First and foremost, R.I.P. Chris Henry. I hate to see young, black males die violently, and 26 is far too young for someone to leave this earth. More disturbing is the fact that Henry apparently was killed after falling out of a vehicle driven by his fiancee after a domestic dispute (a fight). Details are still a bit sketchy, but I can image them getting into a fight, her driving off, and he jumping in the back of the truck to stop her. She drives fast, hits a turn, and he flies out. Head trauma, and that's it. Sad.

Malcolm Gladwell and Bill Simmons
I love Gladwell's work, and I can tolerate the Sports Guy. Put them together, and I'm a happy dude. I like the way they both approach connecting different parts of life, and explain why we should all care. Although they have their faults, I think overall they are great for the way we should think about life and sports. Check out the link below:
http://sports.espn.go.com/espn/page2/story?page=simmons/two/091218
Check out part one as well.

Jersey Shore
The recent weekend snowfall has kept me in the apartment, which sucks, but enabled me to watch all of the episodes of MTV's Jersey Shore consecutively. One word: WOW!

I'm not one of those people that has a preconceived notion about Italian-Americans or "Guidos" and feels like JS confirms my dislike of them. In fact, regardless of their ethnic origin, these fools are equal parts funny and stupid. The fact that they play up their Italian roots is offensive to Italians, but does not make me judge Italians. I'm still not sure what being (fill in the European Country) - American really means, especially if you are not a first generation. JS is a funny way to look at how people spend their time at the shore, how they choose partners, and how their morals are in conflict with what they do. Its funny how the guys all went on the show single, and two out of four of the girls were in "relationships." If you are going to the beach (hook-up central) for the summer, why would you be in a relationship? That's drama waiting to happen, and in the show, it does. I love it!

Real Estate, Race, and Gentrification Part I

Last Friday, I attended what could be best described as a modern Salon, in Harlem, with some very educated and aware folks. Most were from the Teachers College and Columbia network, but there were a few folks that were also outside CU, which is a great thing when speaking about real issues in Harlem, and NYC in general. On the whole, I find that many minority TCers are much more aware and caring about not only the state of education, but the state of society in our fair city. I feel like due to TC's location in Morningside Heights, minority students feel a greater attachment to the community and see it as more of a long-term place because of the high percentage of minority students that are serviced in local schools and through the larger city-wide system. Of course, I haven't performed academic studies on this, but definitely trust my gut when it comes to this particular issue. I guess time will bear it out.

The salon, which were are attempting to hold once a month or so, was a great chance to break bread, have some wine, and talk about the issues that are near and dear to folks. The vibe was great, and there were some very intelligent, and thoughtful people in the room. Unlike public debate which can be unruly, raucous, and downright unintellectual, we had a great start to a larger conversation.

To due it proper justice, I will not attempt to hammer away all of what was discussed. However, the main portion of the conversation centered around race, real estate, and Harlem's gentrification. Here is a highlight of what my thoughts are about the topic:

Gentrification Is A Myth (A little Harlem History)
I'm not a sociologist, but history shows us that people move in patterns. They behave in patterns, mostly predicitable ones, so that, not only does human behavior become repetitive, but it becomes cyclical. That being said, people move to places, they live, establish cultural institutions, and lay claim on a space for a set period of time. Then, especially in cities, those groups leave (given, for a littany of reasons) and give space for other groups to move in. In the last decade, this phenomenom has taken place in Harlem, where real estate values have risen, older renters have been priced out, and new groups of people move in. Harlem is unique (or not) because it has a cultural, historic tie to the black community, and is the unoffical capital of black America. I'm not going to argue the neighborhood's importance, because it does mean alot to black history, but it is far from the capital of the new black America. I would argue that its not the capital of black New York, which I believe can be found in numerous neighborhoods in Brooklyn. Also, historically speaking, Harlem of the early 20th century was heavily Jewish, and remained so until the 1930s. Although blacks lived there, it was a Jewish enclave, until the Bronx was built up and Jews migrated there during the 20s and 30s, vacating apartment houses that black migrants would soon establish. Moreover, Harlem was one of the few neighborhoods where de facto segregation allowed blacks to live, and in a few places, own. That being said, whites lived here before blacks.

The basis of the new "Harlem" is that blacks are being pushed out by opportunistic whites that are buying up cheap property and "taking over." While this might be the case, we must understand the reasons why this is even possible. Firstly, apartment buildings, brownstones, and townhouses that dot New York City are only cheap and ripe for investment when neighborhoods have bad reputations. Harlem, which saw its share of urban plight in the 70s, 80s and 90s, was a dangerous and scary place at times. The crime rate was high as drugs and urban issues help erode the high culture that the neighborhood experienced in the 40s and 50s. Slum clearance enabled public housing to be built, and soon, those places were no longer immune to serious urban issues. However, real estate prices are driven by perception and reputation. When Harlem was at its lowest point, it became more than an urban ghetto; it became a code word for whites to say "where they (blacks) live." Regardless of the fact that many Harlem homes and business are not, and have never been totally black owned, it was used as a synonym for where the others live. Arbitrary boundaries were drawn, (usually 96th St) and it was rare to see many whites live above that line. Of course, this made for a socially isolated set of communities, and landlords did less and less to take care of their buildings as tenants became harder to collect from, and crime skyrocketed. Building values plummeted during the 1980s, and many buildings were foreclosed on, and sold at auction or rehabbed through federal programs. What happened (possibly in conjunction with the Dinkins and Guiliani mayoral administrations' focus on crime prevention and correction) was that New York became safer. Even Harlem, with its brownstones, townhouses, and art deco builidngs, became a desirable place. This shift was then reinforced by the opening up of newer businesses, the rehabbing of subway stations, apartment buildings, and reinvestment by the large city entities, such as the universities.

You see, Harlem's property values were always valuable; its Manhattan real estate. But, when the perception of a neighborhood is all bad, then it takes a long time, and much infrastructure to repair it. But the authenticity of the neighborhood will always draw people back to it. Because 125th street has high quality shopping, rapid transit, and is surrounded by residential neighborhoods, it will continue to serve as a main street of the city. Whites have not discovered or re-discovered anything new about Harlem; they are moving back here because the housing is is affordable, there is plenty of access to rapid transit, and you can buy a home in New York City for a fraction of what it costs in predominantly white neighborhoods. I don't see this as evil or as a plot to destroy the fabric of black America; instead, I see this as a prime reason why blacks don't yield as much political power in New York as they do in Atlanta, Washington DC or even Philadelphia: the lack of home ownership. Simply put, gentrification would not be occurring if more blacks owned their homes, and had the ability to decide to sell out (at top price) to people trying to move for a better life, regardless of race. Moreover, the civil rights movement has taught us that segregation is inherently wrong, and that there are unique benefits to having mixed societies than segregated ones. Folks fought, marched, and risked their lives for access to mixed living situations, so why is it that folks are arguing to maintain segregation in neighborhoods like Harlem?

Sunday Evening Thoughts

Mad Men
Wow, what an episode of Mad Men. Just when I thought this should be the final season, they wow us with two doozies. Great writers, great story lines, great characters. This show is threatening The Wire as the great American story of the last ten years, and one of the greatest series ever.

Racial Identity
At a recent social gathering I was given the opportunity to have a rather lively discussion with mixed company about race, social identity, and the post Obama year(s). Here are my thoughts…
I find some people’s perception of race (more specifically black people’s experience in this country) perplexing. In a country where children go to years of counseling to deal with their parents’ divorce, where alcoholics and drug addicts go to rehab to end addition, and civil courts hear million dollar lawsuits to remedy disputes, time after time, black people are told to “forget” and “move on” about racism, as if somehow, magically, if blacks forget it happened, then everything will be better, and suddenly, it will never have an affect on your life. If one does talk about it, they are branded a whiner, someone that has a chip on their shoulder, a person that lives in the past, and part of the problem.

This is not only wrong, but the root of our racial problems in this country. Here’s why:

1. Since racism stems from racial superiority (whites to blacks) and was used to justify trans-Atlantic slavery, the subsequent establishment of the economy of this nation (free labor = easy southern planting and profitable northern shipping), the legal denial of rights based on skin color (which still governs the way we live our lives, from the neighborhoods people choose to settle, to whom people choose to marry, to who we choose to socialize with), thus it is not black people’s responsibility to fix racial superiority. We didn’t start the fire; it's on other folks to deal with that issue, not black people to “change peoples minds” about us. Fuck that.

2. Forget? Who tells people to forget stuff? When’s the last time you heard a logical person get on television and tell Jewish people, “Why do you celebrate Passover? That was such a long time ago. Why don’t you just move on?” or “Why are you still talking about the Holocaust? It was a long time ago. That’s just the way some people thought at the time.” Exactly.

And just what exactly are we forgetting? My Grandfather knew his Great-Grandfather, born in 1853 as a slave in Virginia. Hell, he went to a baseball game with him. I’ve spoke to my Grandfather about his Great-Grandfather, again, a slave. To put it simply, my mother’s father knew a slave. I’ve seen the man’s picture, know his name, and, share the same prolific eyebrows and dark circles around my eyes. Every morning I see his face. Sorry, can’t forget that.
Moreover, one forgets what they don’t want to remember. I, for one, want to remember what happened to my relatives, my ancestors, and people I never met. I want to remember what happened to Jack Johnson, George Stoval, and Nat Turner. That is history, it is what makes us strong, knowing that all the hell folks went through was not in vain, and the ultimate disrespect would be to forget what they went through. Again, Fuck that.

3. Our racial issues were not solved by electing a black president, although some people would like to think so. We’ve never had a national discussion about the impacts of racism through slavery, segregation, and economics. Our country has been built on an unfair playing field that generously benefitted white males for centuries, yet, we don’t talk enough about it, and how we can move forward to even out society. In today’s world, networks still rule the corporate world, networks that often are based on where you when to school, where you daddy when to school, and how much ass you can kiss. Have you seen Wall Street lately? When my parents when to college, schools were just being “desegregated” and blacks were just starting to go to traditionally white colleges. I’m not the exception to the rule.
Contrary to popular belief, being an angry black man doesn’t make you a self-destructive, unproductive individual. In fact, the anger can be used to motivate, and turn you into an amazingly productive and driven individual. Anger, intelligence, and strategy can turn you into a force.
See also: Booker T. Washington, Jack Roosevelt Robinson, Muhammad Ali, Malcolm X, Dr. Martin Luther King, Jr., Eldrick Woods, Serena and Venus Williams, John Carlos and Tommie Smith, Huey P. Newton.

My Favorite Books, Pt II

Almost forgot:
The Fountainhead - Ayn Rand

Atlas Shrugged - Ayn Rand

Endurance - Alfred Lansing

Things Fall Apart - Chinua Achebe

The Souls of Black Folk - W.E.B. DuBois

The First Tycoon - T.J. Stiles