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| User Info | Richard Posner: Bite Me in forum [Ticker] | ||||
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Genesis Posts: 71346 Incept: 2007-06-26 
KD^2 
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http://market-ticker.org/archives/960-Ri....
---------- "The monetary base in ALL modern monetary systems is the sum of unencumbered assets against which one is both WILLING AND ABLE to borrow." - Me
2009-04-15 10:26:21
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Pika-steph Posts: 39183 Incept: 2007-09-11 
^Why I keep^ fighting; so he is not fighting for nothing.
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Must cover up government mistakes at all costs.
---------- Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org  "America is at that awkward stage. It's too late to work within the system, but too early to shoot the bastards."
2009-04-15 10:28:14
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Statusquojoe Posts: 2397 Incept: 2008-11-20
Land of the fees Home of the slaves.
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Its their fate to perform for the circus, if enough people (especially the left) become educated and angry they are subject to govern by mass consent having left the more prudent ground of the constitution years ago. Sort of like a catch 22. Re: Government by Judiciary by Raoul Berger ---------- "In short, you are the definition of moral hazard." Senator Bunning to Bernanke Last modified:
2009-04-15 10:38:19 by statusquojoe
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Randy123 Posts: 2001 Incept: 2008-09-24 New Jersey
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Tell me how you really feel Karl?
---------- Mliu is my hero. Captain melamine.
2009-04-15 10:44:55
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Lastchance Posts: 1131 Incept: 2008-11-19 Las Vegas
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Indeed, the federal court system is pathetic when it comes to finance. I thought MAYBE I could get a least one judge to listen when it came to the TARP, as well as the abuse of power by the FED. But no, not even a response to e-mail or voice mail messages. I guess one must shell out cash to get some of these judges to even listen.
---------- "We don't quit. I don't quit" President Obama 1/27/10 Man, I would to have him in one of our poker games.
2009-04-15 10:54:40
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Anti Posts: 1286 Incept: 2007-10-09
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Quote:Re: Government by Judiciary by Raoul Berger I read that book years ago - very good book - he was interviewed on Bill Buckley's program and seemed the rarest of breeds, an honest liberal. ---------- Health is better than health insurance http://gerson.org/ Over the past 60 years, thousands of people have used the Gerson Therapy to recover from so-called “incurable” diseases such as cancer, diabetes, heart disease and arthritis.
2009-04-15 11:16:28
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Curbyourrisk Posts: 1886 Incept: 2008-08-19 Long Island, New York
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Mr Posner......and just about any of the elected and non-elected officials in Washington.......
---------- Hopium: hope filled delirium preached by the White House and Swallowed whole by the American Sheeple. Why is Franklin Raines a free man? "We saved the world from disaster" - Ben Bernanke - Jackson Hole 08/21/2009 
2009-04-15 11:38:30
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Bluestem Posts: 33 Incept: 2008-09-07 Illinois
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It's one thing to plead ignorance or "theoretical preconceptions, on a worldview, an ideology", but willful disregard (or was it just plain negligence) of wrongdoing, as with the FBI warnings as early as 2004, AND IN MR. POSNER'S OWN BACK YARD ("States identified as the top 10 "hot spots" for mortgage fraud are . . . ILLINOIS.")is inexcuseable. http://www.cnn.com/2004/LAW/09/17/mortga.... How do you justify that, Mr. Posner?
2009-04-15 12:24:16
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Lms Posts: 167 Incept: 2008-09-30 
Punching Bernanke in the face
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Gen, I don't disagree with anything you've said in your ticker, but I find the Posner book interesting nonetheless because he has been a very influential figure in the law and economics field. Is the reference in the title of his book to a failure of capitalism an attempt to rethink the efficient market hypothesis? If so, his book might be a step in the right direction. Is he too cautious, does he appear to ignore widespread criminal fraud in favor of benign theoretical justifications? Perhaps, and that is a fair criticism. I would like to read the book to see how it relates to his past writings.
2009-04-15 12:24:32
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Weaseldog Posts: 282 Incept: 2008-12-11 Texas Banned
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You can email Ponser at bishoplc@uchicago.edu I found that address here: http://www.law.uchicago.edu/faculty/posn.... ---------- "You can know the name of a bird in all the languages of the world, but when you're finished, you'll know absolutely nothing whatever about the bird... So let's look at the bird and see what it's doing -- that's what counts." - Richard Feynman
2009-04-15 12:59:40
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Briar Posts: 1903 Incept: 2008-02-07
California
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KD, you should write Posner yourself. I've heard he's approachable. He's also just about the most prolific writer out there. Sometimes it seems like he writes a book a week. For those of you who are not familiar with him, he is a very influential legal writer. If you brought him around to your way of thinking, he would be a big asset.
---------- "You have the right to remain silent, but I must admit, a good cry can do a man wonders." -John Munch
2009-04-15 13:07:02
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Nuke_engineer Posts: 769 Incept: 2007-08-19
NC
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Not surprised about Posner. He may be a writer and smart, but he's also known to be clearly in the pocket of big corporate interests, not for small business and any type of entrepreneurship that could rock the boat for the establishment. Posner is one of the extreme pro-business activist judges who were put in to help business interests in the courts. Supreme Court Judge Roberts is another example. They were placed after extreme lobbying by business interests for NAFTA (IBM and GE put actuarial changes there for ERISA) and stricter copyright enforcement (Millenium Law). Business suddenly saw technology as a potential way to lose power and money, so they reacted by moving against employees and labor as well as dissension by getting their candidates into judgeships in key areas. These judges were instrumental in various fronts to protect the large corporations and status quo by introducing laws like the SLAPP statute. Posner was the judge who helped nullify on appeal the the IBM employee law suit against IBM's pension conversion from a defined befenit to a cash balance in 2006. He knew that if the case made it to the Supreme Court and had to be heard, this would have been the trigger to a massive equity slide because it would have forced businesses that were taking out cash by converting employees pensions and screwing them actuarily to pay back the money. The fraud in CDO's and other lending instruments pales compared to what business engineered with the help of the courts so they could steal the locked in assets of US defined benefit pensions. They played up the individual "you own your own pension and thus your future" argument while they stole employees blind with actuarial assumptions and terms that were flat out bad for the furure pensioners. Some employees seized on the fact they'd have their own money and could dictate their own fate, yet didn't realize they'd lost 30-50% of their pensions in the process and now would face new higher fees with 401(k)'s. No one thought the fraud that reduced 401(k)s to "201(k)'s" was even in the works! ---------- HAL, All trespassers and pigmen vampires must be shot. Survivors will be shot again. I need to buy more ammunition! Scotty, Beam Me Up to the Land of Glass-Stegall! Last modified:
2009-04-15 14:37:27 by nuke_engineer
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Tickerfan Posts: 1266 Incept: 2008-01-02
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******n, and he was on such a roll when he was writing about why consumers want lousy seatbelts.
2009-04-15 18:48:35
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Epicdepressive Posts: 1351 Incept: 2009-04-04
this old bunker
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I have this: http://www.publicdebt.treas.gov/whoweare.... Notice the second term in italics under the "Values" heading: Informality. Yes, I would like for you to be so informal as to assume the $500 debt outstanding with my doctor. I was victim to state-selected "lowest-bidder" insurance policy which covers exactly 0% of my quarterly visit. Previously the state hired a company that paid at least 40% as he was "out-of-network". You probably have already had to bail out my insurance company for an average-amount-per-patient equal or in excess of the cost of the annal policy. I'm sure a little extra will not be a problem. No, wait, hold the phone. I'll just pay him in full for my next visit and post a collateral call for the debt outstanding. Am I being too formal here? ---------- What do you want? What do you value? What do you need? What in exchange?
2009-04-15 20:39:00
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Psquared Posts: 997 Incept: 2008-10-11 SE USA
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I didn't know much about him - though I had heard the name, until I read this ticker and started doing some research. Here's a few tidbits I came up with: His parents were members of the American Communist Party. Robert S. Boynton has written in The Washington Post that he believes Posner will never sit on the Supreme Court because, despite his "obvious brilliance," he has taken a number of "outrageous" positions: * Contention in a 1999 Raritan article that the rule of law is an accidental and dispensable element of legal ideology; * Argument that buying and selling babies on the free market would lead to better outcomes than the present situation, government-regulated adoption; * Support for the legalization of marijuana and LSD. Posner is known as a pragmatist, a moral relativist and an admirer of Friedrich Nietzsche. He opposes any conception of an individuals right to privacy for "economic" reasons. He has written several opinions sympathetic to abortion rights, including a decision holding "partial-birth abortion" constitutionally protected in some circumstances. (I believe this had to do with a Down's syndrome child.) He subscribes to the view (as part of his anti-trust theory on which he and Robert Bork seem to agree) in the "efficient breach of contract" theory. Which is to say, a breach of contract which results in a benefit to society is not a breach of contract. He is a proponent of a school of thought which believes that economics drives legal theory and and nothing else. (including natural law, the rule of law or moral law) Despite all of that, he greatly admires Oliver Wendell Holmes and Learned Hand. Both of whom are judges who would have him locked up were they still alive. A brilliant, but misguided man. http://en.wikipedia.org/wiki/Richard_Pos.... ---------- I have money, therefore I exist.
2009-04-15 21:38:24
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