If timing is everything, than the timing of Mr. Sorkin's article becomes ever so curious coming just one week after the publication of these humungous sums. There he was, as so often before, trying to steer our focus from the excesses of Wall Street's "Big Money" parade.
The callous greed in the oil patch seems to know no limits. Here we have a company, Royal Dutch Shell, bursting with earnings, at the apogee of its yearly returns, going after the last dollar or Euro to make things fatter still.
Investing is a voluntary activity, and it is our decision as investors, even part-timers, how much we choose to understand the products we trade. The information is generally out there, and if it's not, we can choose to pass.
Assuming they were rational and voted in their own self-interest, if companies were people, they'd vote overwhelmingly to re-elect Barack Obama. Of course, if they were people, who's to say that they'd be rational?
I was (at first) happy to see 60 Minutes highlight fiscal problems of states and municipalities. It explained how Illinois was late on payments to service suppliers, and it's a huge problem for people doing business with the state. Then 60 Minutes went completely off the rails.
Mitt Romney has been anything but strong and full of conviction, particularly in the area where these vaunted attributes matter most: foreign policy.
In last Wednesday's CNBC-sponsored "Your Money, Your Vote" Republican Presidential Debate, an intriguing question was posed that goes to the heart of the issue "to what extent should America be willing to rely on the private sector for our economic recovery?"
There's something inherently wrong with a political economy where those in power sell the people a bag of goods: Tax cuts for the rich and corporations; deregulation; "free trade" bills; wars and excessive military spending; slashing social programs.
As news consumers, we need to warn one another to Be Smart when we encounter the supernova-size explosions of myths, stereotypes, negativities and illusions that bombard us daily.
The Cramer interview is breathtaking in exposing the administration's total lack of understanding of the distorted formation of the price of oil and gasoline in today's markets and seemingly impervious to its cost to the economy and its destructive impact on jobs.
As a journalist, however, Henry Blodget is free to opine away, short of engaging in "market manipulation," which is about as easy to define as pornography. That separates him from stock analysts, who remain subject to a bevy of SEC rules and regulations.
Maybe U.S. based companies are doing "well," but we live in a global economy. Limiting investments to U.S. based companies deprives investors of opportunities in other countries and reduces their ability to diversify risk.
On Friday S&P downgraded U.S debt from AAA to AA+, the first such downgrade in the nation's history resulting in grave concerns over the outlook for the U.S. economy. Yet simultaneously they must have been popping champagne corks at Pimco.
For all of the pundits who say that Obama is beatable the question is, beatable by whom? Mitt Romney? What has he recently been up to? He has been meeting with the British Prime Minister and other high level British officials.
Almost overnight, a historic and popular service, like Social Security, faces extinction. But behind this outcome, the Koch echo chamber has been churning for years.
A real friend would tell a guy like LeBron James that he is really messing up his image and his brand. But his yes-men entourage never will. They don't want to get kicked off the gravy train.