Another Rogue Trader

A rogue executive with a funny name gets arrested for losing billions in unauthorized transactions.

7 thoughts on “Another Rogue Trader

  1. Never happen, Ted – this trader was no rogue ; he just played according to the company rules. If you want to get those responsible, you’ll have to go higher up….


  2. Ted,

    Speaking of rogue traders and what they cause, let’s look to the Occupy Wall Street protests. Now, you have some knowledge of protests, Ted. Answer this:

    Has it EVER been advantageous for the protesters to act like idiots and freaks?

    The Occupy Wall Street protest is very serious to the protesters. I think it should be very serious to everyone. And that means that the people organizing it have to accept that there are certain PR tactics they must employ. It’s not an orgy or a party. Put your top back on, lady. You on the stilts? Get off them. You three? Put away your goddamn iPhones.

    As expected, the media is pretty much reporting the protest as a bunch of goof-offs who the police HAVE to arrest because the goofs are disrupting normal people from going about their business.

    Translation: Maybe these protesters are right, but if they are, then I will have to join them in fighting back against being taken for a ride. So, cognitive dissonance being what it is, I will choose to find that the problem isn’t the system, it’s these odd-ball malcontents. There, the collar around my neck feels much better now.

    Why is it that progressives simply are never able to plan anything beyond about the second step?

    “Hey, let’s protest Wall Street by occupying a park! Everyone, bring your sleeping bag and dress real crazy!” These protesters should have taken a tip from the blacks and the gays. The original 1950s protests consisted of clean-cut, well-groomed people protesting. Why? Because protest isn’t about convincing the other side, protesting is about convincing the undecided majority. Most people aren’t fighting Wall Street because they don’t see any group they can trust. You aren’t going to get the average 50-year-old office worker up in arms with a bunch of 20-somethings showing up to what looks like a Phish concert.

    Simple rule: Show up to a protest like you’d show up to court. Wear a damned suit. All those iPhones? Use them to video police aggression, because you know that the affidavits the police file on the arrests will be fiction. When a cop clubs someone over the head and then maced the unconscious person in the face, you know the arrest report will say that the cop had no choice because the person was violently resisting. It’s what happened at the RNC. All those arrests and 90% of them got tossed because of videos.

    This time, the protesters should have enough brains to refuse to let the charges be dropped. Have the day in court in front of a jury. Show the jury how the cops lie. Win a verdict. Sue the police. THAT is how you disrupt, folks. That is how you win. But a protest were everyone’ flying their freak flag? You’re already losing public support. “What’s wrong with these young people today? Don’t they understand that they have to buckle down and grow up?”

    The message is lost on the people you’re trying to get to.

  3. With the caveat that this is how young people behave, I agree that protests should have a lot more dignity than they do. I can’t say I’m surprised at the way the Occupy Wall Street protests have gone down: wanky and disorganized. Consider, for example, this update I received from Adbusters Magazine, which has been central to this effort:

    Dreamers, jammers, rabble-rousers and revolutionaries,

    #OCCUPYWALLSTREET is a week old and roaring strong. We, the people, are finding our voice, realizing that, yes we can revive our democracy. It is beautiful. It is an achievement. And it has the potential to grow into something even more wild and wonderful over the next few weeks and months.

    This Saturday at noon at the people’s assembly in Liberty Plaza there will be a celebration of our incredible first week. Last Saturday, 5,000 people flocked nonviolently to Wall Street … this Saturday there will be 10,000. And then in the weeks that follow, we will swell to 50,000 … and maybe even to 100,000+ by mid-October. Wouldn’t that be something!

    For those who cannot make it to Wall Street’s liberated space, why not organize #OCCUPYCHICAGO, #OCCUPYDALLAS, #OCCUPYSANFRANCISCO, #OCCUPYBOSTON and #OCCUPYDC. This is the perfect moment to expand our movement into financial districts, iconic sites of economic power and branches of Bank of America everywhere.

    According to PBS Newshour, 45 percent of young Americans aged 16 to 29 don’t have a job. Economists are talking glumly about a “lost generation” but they’ve got it wrong. We’re the generation that pulls off the second American Revolution.

    This Saturday at Noon, let’s escalate #OCCUPYWALLSTREET into a nationwide peaceful demand for economic justice.

    for the wild,
    Culture Jammers HQ

    “For the wild?” “Dreamers”? “[Culture] jammers”? What, no poets or mimes? No wonder they’re attracting idiots. Anyone serious–anyone who brings a strong class analysis–after all, this is a protest that ought to be all about class struggle–will be turned off. When I read that rhetoric, I knew I wanted no part of it because it is doomed to failure.

    Revolution isn’t about dreaming. It requires extraordinary risk, sacrifice, blood and sweat and terror, along with the serious determination to throw out the existing order of EVERYTHING and build society and the economy back from scratch. I don’t know about you, but I’m not willing to take an hour out of my day, much less risk getting beaten up by the NYPD, for a formless be-in.

  4. Ted, when are you going to start talking about the GOP field of contenders? Or are you so ardently anti Obama that you’ll be voting Republican next year?? The GOP is so far off to the right that Mitt Romney and Ronald Reagan are starting to look like liberals, ya know that right?

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