US District Court Judge Shiraz Scheindlin recently ruled that NYC’s stop-and-frisk policy, which has helped to dramatically reduce gun violence and crimes, is unconstitutional. Judge Scheindlin imposed draconian restrictions on the police and formerly “low information” voters are quite happy with the Judge:
“Thugs with guns think they’re the ones calling the shots on the streets in the wake of the anti-NYPD stop-and-frisk ruling.
“You can’t stop me! You can’t do that no more! There are new rules!” suspect Steven Sidbury, 21, allegedly yelled at officers as they approached him in crime-riddled East New York last week.”
. . . One source predicted that there will be more bloodshed in the streets as criminals fearlessly carry their weapons instead of stashing them somewhere — and fire in the heat of the moment.
“They’re going to carry their guns, and if they get into a fight, they’re going to shoot right away,’’ the source warned.
“Every single [perp] I have encountered is very happy about the ruling,’’ a Manhattan police source said.
“It is a very common thought now amongst perps that stop-question-and-frisk infringes on their rights to carry concealed guns.”
You can be sure that Scheindlin and the pandering progressive politicians will refuse all responsibility for the coming NYC crime wave.
The abysmal showing by New York City Public Schools on the new “Common Core” student (and teacher) proficiency tests has produced a plethora of excuses and rationalizations from the usual suspects. Federal, state and local officials assure us that all is well and the poor test scores are really a good thing, reflecting no lack of competency on the part of teachers and administrators.
Not surprisingly, these usual suspects have no interest in the amazingly successful efforts of Eva Moscowitz’s New York City Charter Schools:
“Of the 1,500 kids in her Harlem and South Bronx schools who took the Common Core exams, 82 percent got a passing score in math, and 58 percent passed English.
Across the city, the pass rates were 26 percent in English and 30 percent in math . . . Her performance makes her the No. 1 leader in New York City schools — and a scary competitor to the rest of the system. In a better world, one where excellence is prized instead of feared, she would be chancellor and all city students would get the benefit of her talent and passion.”
No one ever went broke by simply saving money as opposed to investing it.
We are constantly instructed by expert financial advisors that we are losing money by saving it in a federally insured account rather than investing it with an expert financial advisor:
“While interest rates have risen on home and car loans over the last year, interest paid on saving accounts has fallen to miniscule levels. And when inflation is factored in, you lost money on that six-month CD or money-market account . . . For instance, say your money has been in an interest-paying checking account, a money-market account, a savings account or a six-month CD. You’ve lost money, Bond says, even though your balances are slightly rising.”
These experts are confusing value with money. Inflation and low interest rates on savings account may reduce the value of my saved money but I still have my money. On the other hand, many clients of these expert financial advisors lose both value and their money by following expert investment advice.
I may be losing value by saving my money but I am not losing my money.
A Center reporter recently spent some time with a friend from high school who had gone to Columbia University and from there to Wall Street and, ultimately, to management of a hedge fund. The hedge fund manager had retired “early” as a multi-millionaire “master of the universe.”
Strangely, after a couple of days of somewhat intense political/business discussions, it was apparent to our reporter that his Wall Street friend had no more idea as to what stock or company would do well than the reporter or anyone else. What our “master of the universe” did know, however, was the phone numbers of his Ivy League friends and classmates who were high officers in government and business and who had access to inside information the rest of us lack.
And so we see a hedge fund financial wizard who engineered billions in profits from the issuance of collateralized debt obligations (CDO’s) testify in federal court that he is “not sure” what the industry-wide acronym CDO stands for.
And the Fed continues to pump $85 billion a month into this sewer.