December 2009 Archives

Dec. 28 (Bloomberg) -- A one-page proposal gaining traction in Congress could turn back the clock on Wall Street 10 years, forcing the breakup of banks, including Citigroup Inc.

Lawmakers in both parties, seeking to prevent future financial crises while soothing public anger over bailouts and bonuses, are turning to an approach that's both simple and transformative: re-imposing sections of the 1933 Glass-Steagall Act that separated commercial and investment banking.

Those walls came down with passage of the Gramm-Leach- Bliley Act of 1999. A proposal to reconstruct them, made by U.S. Senators John McCain and Maria Cantwell on Dec. 16, would prevent deposit-taking banks from underwriting securities, engaging in proprietary trading, selling insurance or owning retail brokerages. The bill could also force the unwinding of deals consummated during the financial crisis, including Bank of America Corp.'s acquisition of Merrill Lynch & Co.

Hat Tip: Susie Madrak via C&L

Last Saturday, Dec. 5th, something startling and wonderful happened at The Aramingo Diner in Port Richmond.

The 52-year-old landmark restaurant at 3356 Aramingo Ave. is open 24 hours a day, so it's always a-bustle. But the place really hops during weekend breakfast and lunch time. Last Saturday was no different, and both wings of the diner - the booth area and the bigger dining room -  were lively.

The manager on duty, Linda (who asked that I not mention her last name here, for reasons I can't get into but let's just say everything worked out okay...), tells me that a couple in their 30s paid their check at the register, then asked the cashier to let them secretly pay the check of another couple in the dining room - a couple they didn't know.

"They just wanted to do it," she said. "They thought it would be a nice thing to do."

When the unsuspecting patrons went to pay their check, they were floored to find out that strangers had picked up their tab. So they asked the cashier to let them pay another table's check, also anonymously.

When that table's patrons approached the register, they, too, decided to pay the favor forward for yet another table of unsuspecting strangers.

You know where this is going, right?

For two hours, delighted customer after delighted customer continued to pay the favor forward. And a buzz began to grow. Not among patrons, who had no inkling what was going down at the register, but among the dining-room wait staff  - Marvin, Rosie, Jasmine and Lynn - and other Aramingo workers moving in and out of the room.

"We were amazed," says Linda, adding that neither she nor her staffers that day recognized any of the participating patrons as regulars. "Nobody knew each other. But once they found out someone paid their check, they got excited and wanted to do the same thing for another table."

The best part about a 1 am vote is that the average age of the Senate is about 132 years old, which means that they are all up about eight hours past when they are used to having a warm cup of milk and dreaming of Lawrence Welk reruns and the good old days before that rock and roll music and the internet tubes ruined everything, so their normally awful speaking style is worse than usual. Joy.

Friday Blogaround

Yet another wild week. Here's how the LC saw it.

- A Blog Around The Clock: under the sea...
- archy: circling the drain.
- Bark Bark Woof Woof: it's not over.
- Bloggg: Moi might go to the (progressive) PA conference.
- Dohiyi Mir: it might work after all.
- Echidne Of The Snakes takes on Richard Cohen's hilarious question.
- Florida Progressive Coalition Blog reviews the week in Florida politics.
- Left Is Right: bits and pieces.
- Pen-Elayne on the Web: playing with food.
- rubber hose and the missus are on their way to Central Asia for two months.
- Scrutiny Hooligans and the vulnerable ones.
- Steve Bates, The Yellow Doggerel Democrat: we've been had.
- Stupid Enough Unexplanation: you have to understand the argument before you make it.
- WTF Is It Now?? -- Simon's cat's first snowfall.

School's out for the next two weeks. What will I do?

The Twin Cities leading FM personality has announced he no longer plans to retire in December 2010 and will remain at KQRS "until they fire me."

Tom Barnard, host of the market-leading KQ Morning Show, announced his plans to retire this past September, casually mentioning his last show would be on December 21, 2012 (sic).

A seagull in Scotland has developed the habit of stealing chips from a neighborhood shop.

The seagull waits until the shopkeeper isn't looking, and then walks into the store and grabs a snack-size bag of cheese Doritos.

Once outside, the bag gets ripped open and shared by other birds.

The seagull's shoplifting started early this month when he first swooped into the store in Aberdeen, Scotland, and helped himself to a bag of chips. Since then, he's become a regular. He always takes the same type of chips.

Customers have begun paying for the seagull's stolen bags of chips because they think it's so funny.

I just do not understand the need for people to take the truth and twist it around. It is sad.

Health insurance giant Aetna is planning to force up to 650,000 clients to drop their coverage next year as it seeks to raise additional revenue to meet profit expectations.

In a third-quarter earnings conference call in late October, officials at Aetna announced that in an effort to improve on a less-than-anticipated profit margin in 2009, they would be raising prices on their consumers in 2010. The insurance giant predicted that the company would subsequently lose between 300,000 and 350,000 members next year from its national account as well as another 300,000 from smaller group accounts.

"The pricing we put in place for 2009 turned out to not really be what we needed to achieve the results and margins that we had historically been delivering," said chairman and CEO Ron Williams. "We view 2010 as a repositioning year, a year that does not fully reflect the earnings potential of our business. Our pricing actions should have a noticeable effect beginning in the first quarter of 2010, with additional financial impact realized during the remaining three quarters of the year."

Unbeleivable. I missed my calling.

WHY WOMEN SHOULDN'T TAKE MEN SHOPPING

After I retired, my wife insisted that I accompany her on her trips to Target. Unfortunately, like most men, I found shopping boring and preferred to get in and get out. Equally unfortunate, my wife is like most women - she loves to browse. Yesterday my dear wife received the following letter from the local Target.

Dear Mrs. Samuel,

Over the past six months, your husband has caused quite a commotion in our store. We cannot tolerate this behavior and have been forced to ban both of you from the store. Our complaints against your husband, Mr. Samuel, are listed below and are documented by our video surveillance cameras.

1. June 15: Took 24 boxes of condoms and randomly put them in other people's carts when they weren't looking.

2. July 2: Set all the alarm clocks in Housewares to go off at 5-minute intervals.

3. July 7: He made a trail of tomato juice on the floor leading to the woman's restroom.

4. July 19: Walked up to an employee and told her in an official voice, 'Code 3 in Housewares. Get on it right away'. This caused the employee to leave her assigned station and receive a reprimand from her Supervisor that in turn resulted with a union grievance, causing management to lose time and costing the company money.

5. August 4: Went to the Service Desk and tried to put a bag of M&Ms on layaway.

6. August 14: Moved a 'CAUTION - WET FLOOR' sign to a carpeted area.

7. August 15: Set up a tent in the camping department and told the children shoppers he'd invite them in if they would bring pillows and blankets from the bedding department to which twenty children obliged.

8. August 23: When a clerk asked if they could help him he began crying and screamed, 'Why can't you people just leave me alone?' EMTs were called.

9. September 4: Looked right into the security camera and used it as a mirror while he picked his nose.

10. September 10: While handling guns in the hunting department, he asked the clerk where the antidepressants were..

11. October 3: Darted around the store suspiciously while loudly humming the 'Mission Impossible' theme.

12. October 6: In the auto department, he practiced his 'Madonna look' by using different sizes of funnels.

13. October 18: Hid in a clothing rack and when people browsed through, yelled 'PICK ME! PICK ME!'

14. October 21: When an announcement came over the loud speaker, he assumed a fetal position and screamed 'OH NO! IT'S THOSE VOICES AGAIN!'

And last, but not least:

15. October 23: Went into a fitting room, shut the door, waited awhile, then yelled very loudly, 'Hey! There's no toilet paper in here.' One of the clerks passed out.

Friday Blogaround

Here's the LC blogaround:

- A Blog Around The Clock: who's who at ScienceOnline 2010
- archy: world-class incoherence.
- Bark Bark Woof Woof: now what in Afghanistan?
- Bloggg: Moi is not happy with the president.
- Dohiyi Mir: Happy Advent.
- Echidne Of The Snakes on Mr. Warren's profession.
- Florida Progressive Coalition Blog: life's a beach.
- ...I Am A Tree: stats.
- Left Is Right: the speech Mike wishes Obama had made.
- Musing's musings: will they heed the warnings?
- Pen-Elayne on the Web: a belated happy birthday, Elayne!
- Rook's Rant on Frankencensed Republicans.
- rubber hose has neatly summarized our Afghanistan dilemma.
- Scrutiny Hooligans on the courage it takes to be civil.
- Steve Bates agrees that we cannot afford this war.
- Stupid Enough Unexplanation: justice is weeping.
- WTF Is It Now?? Good luck, Huck

Are you sick of Christmas commercials yet?