Friday, November 18, 2011

Truth to Power

This is a blog that mostly deals with maritime and national security. However, in addition to sea piracy, there are people out there who hijack other people's money just as pirates hijack ships - and this hijacking has an impact on our national security in the economic sphere.

Here's a little look at one outraged former hedge broker who has a message. From BizzyBlog, "Thank You, Ann Barnhardt; We Need More People With Your Courage", which needs to be read in its entirety - but you should be aware of at least these words of Ann Barnhardt (her blog is here):
Why Mr. Corzine is not under arrest is a mystery to me. Arrest him for suspicion of theft and then sort the mess out. As the woman in the cartoon above knows, when a ship sinks, someone has to be called to task.

It does remind me of an old newspaper column by, I think, Mike Royko ( I could be wrong), in which the writer received one of those "invest with me - it's sure thing" calls from some broker or another. As I remember, the conversation went something like this:
The writer offered the broker a deal, "If I invest my life's saving with you, I only ask one thing."

Broker: "What's that?"

Writer: "If you lose my money, I get to kill you."

Broker: "What?"

Writer: "Look, my whole working life and the future lives of my wife and children are wrapped up in that money. If it is gone, my working life as been wasted. Don't you think it fair that in exchange for giving you my life's work, you should offer up something in exchange for me investing in your 'sure thing" - and I think your life would be a fair exchange."

The broker hung up the phone.
I'll try to track down the original column, but I think I captured the essence if not the quality of writing.

The bigger point is, however, that these money managers - who make money coming and going - need to have something real at risk - instead of just a sullied reputation. While execution may be too harsh, breaking rocks in the hot sun might not be.

So, while I may not have chosen all the words Ms. Barnhardt used, her speaking "truth to power" and in going "John Galt" is worthy of note.


  1. Corzine will get away with it. Bringing a high profile democrat to justice doesn't fit well with the progressive narrative the media likes to advance.

    Lost on the OWS crowd is that Obama got the bulk of Wall Street campaign contributions. If you poll these people, you'll find most will vote for Odufus again.

  2. Anonymous8:52 PM

    I read somewhere that Corzine was known for doing the same thing in the past, but the markets were favorable so he didn't lose the customers funds.

  3. Milton9:41 AM

    I suppose that the liberals will now start barking for government interference with the free market. People should be free to choose to invest their money with crooks if they like.