Over the past couple of weeks, I've managed to catch two of the most anticipated movies of the fall, the latest 007 film Quantum of Solace and the movie adaptation of the teen sensation book Twilight. I was a bit surprised by my reactions to each.
Saturday, November 29, 2008
James Bond vs. Vampires...
Posted by Swany at 3:22 AM 0 Cheetos to snack on
Flavorings: 007, Cheesy, movie reviews
Monday, November 24, 2008
Be careful what you wish for...
As every Texas fan Saturday night, I made a deal with the devil and wished for a Sooner win over the Red Raiders. Alas, as I washed my mouth out with soap the following day, I find the aftermath that the Sooners brought forth with their total domination of Texas Tech. OU leapfrogs over Texas in both the AP, Harris, and Coaches' polls, and only a hair under Texas in the BCS rankings? With just one week left, there's only a thin shred of hope that the Longhorns will come out on top of the Big 12 South in hopes of competing for what should be a BCS National Championship berth. I don't have confidence that even Mack Brown could lobby the voters to get Texas back on top, and I fear the devil would own my soul if I asked for too much, such as both Tech and Oklahoma losing next week. But maybe just Tech?
Posted by Swany at 1:04 AM 0 Cheetos to snack on
Thursday, November 20, 2008
Return of the Trekkies (or is that Trekkers?)
Anyone catch the trailer for the new Star Trek movie coming out next summer? I've always thought Star Trek had the potential to overcome its nerdy reputation as a franchise only loved by supergeeks. Then again, I think I'm still in denial as to how much of a dork I am. Anywho, in this day and age when nerdy and geeky has become hip and cool, perhaps this is the perfect time for a Star Trek resurgence:
Posted by Swany at 4:52 PM 2 Cheetos to snack on
Monday, November 17, 2008
Friday, November 14, 2008
How to kill a bull...
The global financial market has gotten way to complicated for me too understand. Granted, I didn't major in economics in college, but I still consider myself a relatively intelligent guy who should be able to sort of get some semblance of how Wall Street works. This scares me given the fact that we all rely on financial investments to insure we aren't living in a tent eating Spaghettios for dinner when we retire, especially with the gloom and doom reports that I hear on the news everyday.
It used to be, that this didn't worry me so much. Heck, I'm no Warren Buffet genius, so I figured, it's best to leave the mental work of the market to the experts. But as I think about it more, I have to wonder where this unearned confidence in the investment community ever came from. I used to recall a banner in the commons at some college once that said something to the effect of, "Want a BMW when you grow up? Get an MBA." This was the kind of people they were recruiting into business school. Not anyone with a social consience, just guys whose goal in life was to make lots and lots of money. Now typically there is the occassional wiz kid that really wants to understand economic theory, but I always got the feeling that most of the guys going into finance and business weren't always the brightest guys in the world. I had this stereotypical image that the smartest students became engineers, doctors, scientists, and maybe even lawyers while the others were a bunch of frat boys just extending their party to Wall Street, with some bullshitting their way to the very top. So instead of the best and the brightest in the world overseeing essentially our future livelihood, we've got clueless guys playing a game of high stakes poker and making poor bets with our money. Based on this article by Michael Lewis about what led to the current economic collapse, maybe I wasn't so far off:Here's where financial technology became suddenly, urgently relevant. The typical mortgage bond was still structured in much the same way it had been when I worked at Salomon Brothers. The loans went into a trust that was designed to pay off its investors not all at once but according to their rankings. The investors in the top tranche, rated AAA, received the first payment from the trust and, because their investment was the least risky, received the lowest interest rate on their money. The investors who held the trusts' BBB tranche got the last payments—and bore the brunt of the first defaults. Because they were taking the most risk, they received the highest return. Eisman wanted to bet that some subprime borrowers would default, causing the trust to suffer losses. The way to express this view was to short the BBB tranche. The trouble was that the BBB tranche was only a tiny slice of the deal.
But the scarcity of truly crappy subprime-mortgage bonds no longer mattered. The big Wall Street firms had just made it possible to short even the tiniest and most obscure subprime-mortgage-backed bond by creating, in effect, a market of side bets. Instead of shorting the actual BBB bond, you could now enter into an agreement for a credit-default swap with Deutsche Bank or Goldman Sachs. It cost money to make this side bet, but nothing like what it cost to short the stocks, and the upside was far greater.
The arrangement bore the same relation to actual finance as fantasy football bears to the N.F.L. Eisman was perplexed in particular about why Wall Street firms would be to and asking him to sell short. "What Lippman did, to his credit, was he came around several times to me and said, 'Short this market,' " Eisman says. "In my entire life, I never saw a sell-side guy come in and say, 'Short my market.' "
And short Eisman did—then he tried to get his mind around what he'd just done so he could do it better. He'd call over to a big firm and ask for a list of mortgage bonds from all over the country. The juiciest shorts—the bonds ultimately backed by the mortgages most likely to default—had several characteristics. They'd be in what Wall Street people were now calling the sand states: Arizona, California, Florida, Nevada. The loans would have been made by one of the more dubious mortgage lenders; Long Beach Financial, wholly owned by Washington Mutual, was a great example. Long Beach Financial was moving money out the door as fast as it could, few questions asked, in loans built to self-destruct. It specialized in asking home owners with bad credit and no proof of income to put no money down and defer interest payments for as long as possible. In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $720,000.
More generally, the subprime market tapped a tranche of the American public that did not typically have anything to do with Wall Street. Lenders were making loans to people who, based on their credit ratings, were less creditworthy than 71 percent of the population. Eisman knew some of these people. One day, his housekeeper, a South American woman, told him that she was planning to buy a townhouse in Queens. "The price was absurd, and they were giving her a low-down-payment option-ARM," says Eisman, who talked her into taking out a conventional fixed-rate mortgage. Next, the baby nurse he'd hired back in 1997 to take care of his newborn twin daughters phoned him. "She was this lovely woman from Jamaica," he says. "One day she calls me and says she and her sister own five townhouses in Queens. I said, 'How did that happen?' " It happened because after they bought the first one and its value rose, the lenders came and suggested they refinance and take out $250,000, which they used to buy another one. Then the price of that one rose too, and they repeated the experiment. "By the time they were done," Eisman says, "they owned five of them, the market was falling, and they couldn't make any of the payments."
The entire article is a bit of a lengthy read, but kind of fascinating to see exactly how either clueless or evil these guys are. Maybe that's where the symbol of the bull for a growing market came from--it's all just based on bullshit.
Posted by Swany at 12:52 PM 2 Cheetos to snack on
Thursday, November 13, 2008
Comic book geeks have no excuses anymore...
Much has been said about the historic victory Barack Obama achieved with his presidential election and it's effect on minority achievement. I think I heard Will Smith say something on Oprah the other day that from his point of view, African-Americans now have no excuses not to strive for greatness. I find this reassuring for my own future kids. And now, I'm even more encouraged by the fact that Obama has raised the bar for another group of stereotyped underachievers--comic book aficionados. What's the first thing mentioned on "the 50 facts you might not know" about Barack Obama?
He collects Spider-Man and Conan the Barbarian comics.Heck, if the President of the United States and the leader of the free world can read comic books, well, so can I.
Posted by Swany at 12:23 AM 6 Cheetos to snack on
Flavorings: comics
Sunday, November 9, 2008
And a part of me dreams that Chuck Norris from The Delta Force aka Major Scott McCoy was part of at least one of these missions...
I was reading this article in The New York Times about an order signed by then Defense Secretary Donald Rumsfeld secretly authorizing the military to go into a number of foreign countries we weren't actually at war with to hunt down Al Qaeda targets:
The United States military since 2004 has used broad, secret authority to carry out nearly a dozen previously undisclosed attacks against Al Qaeda and other militants in Syria, Pakistan and elsewhere, according to senior American officials.I'm still deciding whether I think this is a good or bad idea. I'm not sure anyone really knows how we're supposed to conduct this war on terrorism, but a part of me thinks you have to hit targets when the opportunity arises and not become Boss Hogg chasing after the Duke brothers having to stop at the county line when the General Lee makes that jump over the river. But that's just my first impression. Regardless, this directive sounds like something straight out of the movies.
These military raids, typically carried out by Special Operations forces, were authorized by a classified order that Defense Secretary Donald H. Rumsfeld signed in the spring of 2004 with the approval of President Bush, the officials said. The secret order gave the military new authority to attack the Qaeda terrorist network anywhere in the world, and a more sweeping mandate to conduct operations in countries not at war with the United States.
In 2006, for example, a Navy Seal team raided a suspected militants’ compound in the Bajaur region of Pakistan, according to a former top official of the Central Intelligence Agency. Officials watched the entire mission — captured by the video camera of a remotely piloted Predator aircraft — in real time in the C.I.A.’s Counterterrorist Center at the agency’s headquarters in Virginia 7,000 miles away.
Posted by Swany at 9:09 PM 3 Cheetos to snack on
Flavorings: espionage, war on terrorism
John Williams is the man...
Yeah, yeah. This is kind of nerdy. Lemon has been giving me the eye as I've watched this video like, "OMG. My husband is a dork." That's OK, 'cause I think it's pretty cool:
Posted by Swany at 3:15 PM 1 Cheetos to snack on
Wednesday, November 5, 2008
Change is good...
Posted by Swany at 12:06 AM 6 Cheetos to snack on
Flavorings: 2008 election
Tuesday, November 4, 2008
Rants and Raves
Since when did I begin to care so much about politics? It is not so much the outcome of what is unfolding tonight in terms of the election, but how I believe that it unfolded.
It began for me by looking at the election results for my county, and seeing that there is only one contested Republican that won. This does not bother me, what bothers me though is that almost all of the winners won by an amount that is almost completely identical with the number of straight party ticket votes.
I have heard many educated people talk about there being some qualification other than age for voting. Examples include, a certain level of education attained, a certain level of income, or even holding voting to happen on one day. I don't agree with the examples listed, but I do feel like every citizen should do his or her civic DUTY to research the candidates.
Allowing an option for a straight ticket vote only enables an absent civic duty. This goes for both Republican and Democratic parties. I believe that not only should this not be an option when voting, but that there should also not be any party affiliation of one individual listed on the ballot. I believe that then you would end up with people voting the way they do for judges - either blindly or with a well prepared civic duty.
I performed my civic duty before voting. I ended up voting not only for Republicans and Democrats, but I even voted for the Libertarian candidate for some seats. Maybe it is because I have become a parent and this sort of stuff crosses my mind now, but I am going to make sure that my children see the value in civic duty.
[Update: Obama has been announced as our next President. I do look forward to his Presidency, and I hope that the idea of change he has spoken of can happen.]
Posted by Anonymous at 9:36 PM 3 Cheetos to snack on
Flavorings: 2008 election
Monday, November 3, 2008
I don't know about Lando, but Chewbacca definitely has my vote...
On the eve of the Presidential election, here's something to lighten up the mood a bit. And let's all break out the Colt 45 tomorrow night for whomever ends up being our next President:
By the way, is that the Washington D.C. subway tunnel in the background that's standing in for some Star Wars locale?
Posted by Swany at 9:03 PM 0 Cheetos to snack on
Flavorings: 2008 election, Star Wars
Sunday, November 2, 2008
There may be hope for this country yet...
Check out this short video from the BBC. I say there's hope not because this guy is supporting Obama, but because he's looking beyond race and color to vote for the candidate he feels will do the best job in leading this country. I'm a bit embarrased and ashamed to admit that I probably would have grouped him into the stereotypical redneck category upon first glance. I may never automatically make fun of anyone wearing a NASCAR hat again.
Posted by Swany at 9:43 PM 0 Cheetos to snack on
Flavorings: 2008 election, stereotypes
I think watching Texas this year has taken at least a few years off my life expectancy...
So the three way tie scenario in the Big 12 South is one step closer to reality. I've been worried that the conference was going to beat each other up to the point that no one from the Big 12 gets to the National Championship game. Maybe I'm getting ahead of myself, but one could realistically predict OU beating Tech and winning over OSU, creating a tie between the Longhorns, Sooners, and Red Raiders. I'm not sure what the rules say about how you break this--anyone know?
Posted by Swany at 12:31 AM 6 Cheetos to snack on