From Tom T. of New York, the phrase for this post is "Carriage Return"
Tom and I argued about whether the carriage returns of our old manual typewriters from "Yo" Adrien Block Intermediate School went left-to-right or right-to-left when the typist finished typing a line. Of course I was correct (the carriage returned from left to right) and we continued about how things were done in the good old days of 1981.
Occasionally, I reminisce about the good old days when broker commissions were percentage points instead of basis points, quarters were necessary to make phone calls while on the street, Atari 2600 was the game system of choice, Queen of Hearts was on the radio, Sony Walkman on my belt, and the Glass-Steagall Act (GSA) was still in force. Many of these wonderful things have been replaced by the significant advances of technology. Of course, the younger generation has no memories of the wonderful trinkets of my adolescence.
Me: [Pantomiming typing on a manual typewriter and hitting the carriage return] Honey. what am I doing?
Precious 10-year old daughter: Typing on a computer and hitting it when it doesn't do what you want it to do.
The innocence of youth is wonderful. The innocence of policy makers is ... well... pathetic.
The only thing not replaced by new and better technology is the Glass-Steagall Act of 1933. This brilliant piece of legislation not only created the FDIC but prevented bank holding companies from owning any other financial concerns. As an interesting historical note, Senators Glass and Steagall were from from Virginia and Alabama, respectively, and this was the last time senators from either state created good financial regulations. The Act was castrated (see my previous blog) by the Gramm-Leach-Bliley act (Senator from Texas and Representatives from Iowa and Virginia) in 1999 and signed by that Good Ol' Boy; President Billie Bob Clinton. The Congress in its infinitesimal wisdom gave banks the ability to take on significantly more risk without regulation or regulators to monitor it. So as a direct result, the FDIC has had to shutter more than 106 banks in the first 10 months of 2009.
So let's raise a toast to Arthur, watch Jane Fonda overact by a Golden Pond, salute Private Winger, and take a spin on the Cannonball Run. Good bye 1981, I .... nope.... I don't miss it.
Album of the Post
While listening to NPR, I heard of an album dedicated to the Brooklyn-Queens Expressway by Sufjan Stevens. I couldn't believe any sane musician would create a piece of music to a New York City throughway (Feeling Groovy notwithstanding). However, after listening to sections of the album on iTunes, it's the best new orchestral music I've heard in a long time.
I recommend it with 4.5 stars!
Next week's word of the blog is "Harangue" from Ben S.
Thanks and keep those word suggestions coming!!!
Tom and I argued about whether the carriage returns of our old manual typewriters from "Yo" Adrien Block Intermediate School went left-to-right or right-to-left when the typist finished typing a line. Of course I was correct (the carriage returned from left to right) and we continued about how things were done in the good old days of 1981.
Occasionally, I reminisce about the good old days when broker commissions were percentage points instead of basis points, quarters were necessary to make phone calls while on the street, Atari 2600 was the game system of choice, Queen of Hearts was on the radio, Sony Walkman on my belt, and the Glass-Steagall Act (GSA) was still in force. Many of these wonderful things have been replaced by the significant advances of technology. Of course, the younger generation has no memories of the wonderful trinkets of my adolescence.
Me: [Pantomiming typing on a manual typewriter and hitting the carriage return] Honey. what am I doing?
Precious 10-year old daughter: Typing on a computer and hitting it when it doesn't do what you want it to do.
The innocence of youth is wonderful. The innocence of policy makers is ... well... pathetic.
The only thing not replaced by new and better technology is the Glass-Steagall Act of 1933. This brilliant piece of legislation not only created the FDIC but prevented bank holding companies from owning any other financial concerns. As an interesting historical note, Senators Glass and Steagall were from from Virginia and Alabama, respectively, and this was the last time senators from either state created good financial regulations. The Act was castrated (see my previous blog) by the Gramm-Leach-Bliley act (Senator from Texas and Representatives from Iowa and Virginia) in 1999 and signed by that Good Ol' Boy; President Billie Bob Clinton. The Congress in its infinitesimal wisdom gave banks the ability to take on significantly more risk without regulation or regulators to monitor it. So as a direct result, the FDIC has had to shutter more than 106 banks in the first 10 months of 2009.
So let's raise a toast to Arthur, watch Jane Fonda overact by a Golden Pond, salute Private Winger, and take a spin on the Cannonball Run. Good bye 1981, I .... nope.... I don't miss it.
Album of the Post
While listening to NPR, I heard of an album dedicated to the Brooklyn-Queens Expressway by Sufjan Stevens. I couldn't believe any sane musician would create a piece of music to a New York City throughway (Feeling Groovy notwithstanding). However, after listening to sections of the album on iTunes, it's the best new orchestral music I've heard in a long time.
I recommend it with 4.5 stars!
Next week's word of the blog is "Harangue" from Ben S.
Thanks and keep those word suggestions coming!!!
Oh, callow youth! Good old days meaning quarters for the pay phone? Try dimes (even *I* was too young to be making phone calls when it was a nickel). I can even remember when it cost 7.5 cents to ride NYC subways and buses.
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