It’s a while back, but I recall that the university where I attended for my undergraduate degree required all full-time student to take an introductory course in economics. The very next concept after demand and supply was the inevitability of unregulated capitalism to trend to monopoly [I hear there’s even a popular board game based on it.].

Moreover, throughout that course, as well as the 5 others I took there and the two others I took in graduate school, and a goodly number of the professional development seminars I took on aspects bearing on the concept of criminal fraud, and several dozen cases where I either prosecuted or defended, the assumption was that the ability of a person to succeed in gaining money through fraudulent and other corrupt practices critically depends on evading or fooling regulatory oversight for as long as possible.

Over a period of 8 years I was presented with 3 opportunities to attend Yale, and two to attend Harvard, and in each case chose otherwise; but never on the basis of knowing that the teaching of economics at those schools was based on a set of principles set against what I’ve assumed for over 30 years now was orthodoxy.

I’m wondering now whether the Obama administration should ask its DOJ to look into a lawsuit against each of Yale and Harvard, seeking damages for the foreseeable consequences of what it taught the Water Boy, and in the case of Harvard, for criminal fraud in granting him an MBA. Seizing and diverting their income streams into supporting Acorn would seem particularly apt.

Which, hateful as it feels, at least superficially supports the several recent attacks on Cox by Senator McCain.

Of course, the SEC ruling was unanimous, so Cox would share at least some of the responsibility with his fellows.

But I take your point to be that, assuming the Labaton analsys is correct, in the sense that this crisis and the “need” for the bailout tracks back to the April 2004 change in SEC reporting standards, Cox and Paulsen being respectively the lead decider and the lead advocate for that change would appear to make the current plan to put Paulsen in command of the rescue appear as if Bush and Congress are about to put pretty much the biggest fox in the den in charge of rescuing us chickens from the perils of predation by that den.

Many [I’m thinking in particular of Prince Turki al Faisel in response to public musings on whether the Water Boy’s pre-Surge consideration of options [to my mind best summarized by The Daily Show “correspondent” Rob Riggles as: Go Long, Go Deep, or Go Fuck Yourself] might realistically include what McCain for sure would regard as premature withdrawal], would be inclined to file this under: You broke it, you fix it.

But that’s a bastardization of the more appropriate cliche: You break it, you own it.

IANA finance expert, but it seems to me that if you’ve just found out the mechanic you entrusted with your car was at least partly responsible for the decision to replace the V-8 engine that made it such a success both on the highway and on city streets, with a top fuel jet engine with an alcohol booster, based on his being a sucker for being able to accelerate from stop to 90 mph in under 100 feet, going back to that mechanic with a request to “turn it back to what it was” doesn’t seem very likely to be my preferred course of action.

(Great, great reporting on the US Attorneys Scandal, Marcy. Thank you.)

And, as is the normal course in such work, the more they pay out on claims, the lower their rank come evaluation time.

It should come as no surprise – every organization has someone analogous.

I wouldn’t let any of these Rethug punks anywhere near discovery production, because they could do some real harm there. And Bates stamping would be taking a clerical job from a deserving clerk. Nope – mindnumbing, brain-breaking, deal with the disabled, distraught and pro se social security appeals.

Most of the Regent grads would likely quit within the year. Pushing them to that is the objective.

AF – I would love some kind of employment truth and consequences commission or some mechanism as you seem to contemplate; but in the meantime, Scribe is right, they can tend the bilge and not touch anything of significance.