Money, Ball

With the nation still dry-heaving its way through this economic hangover, nothing palliates the soul like the beginning of baseball season. We've already seen a 20 inning game and the first no hitter of the season. Even the Astros have finally won a game. Good times, good times.

If you're not lucky enough to be at the game in your town, I'm lining up some reading and listening, dear Reader, for your spring leisure. These articles are loosely related to each other. First is the news that the government is coming after Goldman Sachs. This gives me a glimmer of hope. However, we'll see if it goes anywhere for a couple reasons: a) most of the high ranking gov't financial officials are from Goldman Sachs, and b) with all the shenanigans that clearly happened, how much of it was actually and more importantly, provably illegal? (sort of begs the question if regulation would even work?) Not sure of the implication of this being a civil vs. a criminal type thing.

This next link was forwarded to me the other day by a friend about a hedge fund that was very active in the creation of the financial mess, though again, it's questionable if they did anything illegal. The first 40 minutes of this mp3 are very interesting. Although it may unfairly imply that Magnetar was the main culprit or main agent that caused this whole thing, it at least explains very clearly how some of the worst aspects of it happened. Though, don't forget that none of this could have happened without the Federal Reserve keeping interest rates far too low or without the implicit backing that the Fed and Treasury have given to Wall Street in the event of past and future failures. In other words, the implication is that if we had regulated Magnetar, we could have prevented this, however, the very people we would supposedly trust to regulate Wall Street not only failed to regulate it or themselves but financially encouraged these types of behavior. But a very well done and informative show.

Finally, and this one may be harder to swallow, but it is some commentary by William Deresiewicz about the disadvantages of an elite education. The reason I offer this for consideration is related to the tight link between the Ivy League and our government financial institutions (e.g., Goldman Sachs and the Federal Researve). Do we not give passes to too many people simply because they are "smart" and went to a top school? Perhaps we would change our perspective if we considered that Harvard may be producing more crooks every year than Harlem.

But back to baseball. At a recent game in Milwaukee, I was dismayed to find the triangle nacho chip had infiltrated Miller Park as well. Is nothing sacred? A couple nice reads about the Boys of Summer. First, is an interesting ranking of the organizations of baseball. Boston and St. Louis top the list, and I'll let you find out for yourselves who is at the bottom. Then, a nice little blog about the latest, greatest pitching prospect in the game, Stephen Strasburg, last year's number one draft pick. This also calls to mind that even if you can't get to a Major League ballpark, there is plenty of good baseball in the minors and independent leagues. In fact, in some ways, they offer a much better baseball experience.

So whether you're more interested in the ivy at Cambridge or the walls of Wrigley, take heart! Spring is taking us into summer, one pitch at a time.

[April 22, Editor's Addition: Here's a link for those interested to a speech given by the same William Deresiewicz about Solitude and Leadership.]