Wall Street Exploits Ethanol Credits

I hate the ethanol subsidy.  If you are a true small government tea party activist then this should be the number issue you should be all over your congressman to sequester out of existence. It is a truly ridiculous incentive to feed our cars and not our bellies.  That Wall Street is taking advantage is no surprise.

I believe Wall Street is over funded with a surfeit of true economic growth inducing ideas.  It is particularly disconcerting that the Dow will shortly include Goldman Sachs as part of the thirty stocks in the Dow Jones average because I can't for the life of me see their long term business model.  Publicly funded gunslingers do not make a worthy benchmark of American industry.  For example today's article in the New York Times business section on the proudly private brokerage firm of Sandler Oniel describes the business in hunting terms.  "We eat what we kill." And you know what?  I find that to be exemplary.  Compensation is high but so is the risk to the partners.  Goldman on the other hand is a rent seeker diddling the system pretty much as Gretchen Morgensen describes regularly in her Fair Game column in the same paper.

The Perils when Megabanks Lose their Focus

This New York Times business section article leaves a out critical point, which is that gaming behavior is not a long term profit growing strategy.  As an individual investor I have lost interest in Megabanks.  If they keep up their idiotic loser course then others will as well.