Friday, February 13, 2009

Wall St Executive Pay: "Burn the Witch!"

I have to confess something - and this might explain alot to anyone still reading these things. All the success I have had in "trading" markets or at least responding in an adequate defensive way, has come from 3 key sources. 1) Inside the Yield Book; 2) Fear and Loathing in Las Vegas; 3) Monty Python. Since all three sources are considered too shallow or bizarre to be so fundamental for anyone in responsibility, I get my key idea from these three sources and then dutifully dig and prod within a whole massive array of ponderous technical and literative and current market info sources. I mean I do do my hours of study. But, and again this might not reflect well on me, I usually find that the brief insight I received from those three core sources are 95% of the core explanation for my actions. So far these three sources have served me well.

In the current debate and criticism of executive pay, the following from Monty Python immediately leaped into my mind:

Thats about all you need to know to understand how important, how critical, and how effective the Wall St executive pay issue is in the context of our current crisis.

The executive pay issue is solely to appease the mob by the leadership and buy some time and carry on in their own rule. Entertainment to try and ease some fear and developing pressures with the peasants.

But this issue could end up being one of several reasons why we get distracted and completely blow it as we feel we have accomplished something with "burn the witch".

(Oh, in the film snippet above, beautiful gem of a "knight" leader pondering and wrestling with a bird and a coconut - our House and Senate wrestling with key economic variables in regards to the H.R. 1?)


  1. Wait a minute I would just like to point out that, any resemblence of that clip to Tim Geithner's "stress test" is meerely conspicuous. (I'm pretty sure Mr. Market already gave these guys a stress test and we all know how that turned out.)

    As is any resemblence between the Black Knight and Dick Fuld.

  2. Watched it over and over! Great satire from the Band of British we still love.