Friday, December 30, 2011

The consequences of unions

The biggest problem with unions is that members rarely get properly rewarded for their behavior. Great teachers get paid about the same as mediocre teachers. Creating high quality parts doesn't create any more job security than creating defect-riddled parts. And conversely, it is just as hard to get rid of an inept firefighter is just as it is to get rid of a good one. 
And among the worst offenders are the police unions. They are notorious for looking the other way when one of their own breaks the law. But it goes even further. In Denver, the union is fighting to reinstate an officer who was dismissed after being convicted and sentenced for DUI and speeding. And by speeding I mean exceeding the speed limit by over 80 mph. 
This country needs to get rid of public employee unions. 
Hat tip: Instapundit 

Wednesday, December 28, 2011

Another nonsensical political act

The national news cycle was somehow dominated by Congress' negotiations over the payroll tax. This was a meaningless action, implemented for a meaningless period of time. And yet, politicians spent hours in front of the cameras discussing and defending their positions and plans. Could it be worse? Certainly. But isn't there enough noise already? Do we have to add even more political clutter to an already incomprehensible cacophony of posturing?

Sunday, December 11, 2011

He misplaced the money ... check the sofa cushions

$1.2 Billion

Let that number sink in for a moment. And then consider this statement from the former governor of New Jersey:

I simply do not know where the money is.

That is what Jon Corzine told Congress on Thursday, Dec 8, 2011. Can you imagine?

We are not talking about investments that failed. We are not talking about risk-capital put into play with the potential for reward. This is money that was simply ... lost.

And this not just a couple hundred thousand dollars. This man lost more money than the total output of 15 countries! Countries like Saint Lucia (GDP of $985MM in 2010), Grenada (GDP of $674MM in 2010), and Gambia (GDP of $1.08B in 2010).

The clients of MF Global may never get the restitution they are due. But Mr. Corzine deserves, at a minimum, to live some portion of his future days in abject poverty. He should have no fiduciary responsibility for any firm or government agency. And he should be convicted of criminal negligence.