Wednesday, July 24, 2013

A little bit of this, and a little bit of that.

A little bit of this, and a little bit of that.
Last Fri.'s NYT  had some good reads. Is it all accurate? Not according to Fox News, but what do they know?
The front page, and the business section, have good reads on the civil charges that the SEC is bringing against hedger owner, Steven Cohen.
The SEC alleges that Cohen, as owner/CEO of SAC Capital Advisers, should have known about the shenanigans that his subordinates were engaged in....that Cohen ignored "red flags".
Not being privy to Cohen's defense briefs, I imagine his concierges will argue that bureaucracies, organizations, are structured hierarchical in order to encase the high mucky-mucks in a bubble of ignorance.
How could Cohen know what his bureaucratic ants were doing?
The business story suggests that the new SEC chair Mary Jo White has removed her Wall Street protector headgear , and is now wearing a prosecutor's battle helmet.
The real test for White will be if she argues that Cohen's alleged ignorance could have been avoided if the hedge fund's hierarchical structure was flattened, made more democratic and horizontal. LOL.
Putin's antagonist Aleksei Navalyn was found guilty of allegedly stealing $500K from a state-controlled company in Kirov.
The case was weak in documentation, and the anti-Putin organizers blame Putin for the harassment.
Navalyn was sentenced to 5 years in prison, but was suddenly released pending the outcome of appeals.
He is still planning to run for Mayor of Moscow.
And if he wins, Putin can be in deep dodo.
Can you imagine the reaction if Navalyn wins the election, and is then put in prison?
Perhaps Navalyn should seek asylum in the Moscow airport hotel, and share a double room with Snowden.
Another story has DC US District Judge Rosemary Collyer ruling that the executive branch, i.e.POTUS Obama, does not have authority to kill Americans on foreign soil, without judicial approval.
She wrote in her ruling that the AG brief argument that the decisions on killing Americans are approved within the executive branch, with Congressional oversight, and are therefore legal is Constitutional rubber-band stretching.
She would like the 3rd branch, the judiciary , to make this decision.
Who would have thunk it?

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