Ignorance is Bliss

I really need a job where I can claim to be something and then not take the time to actually learn the terminology or underpinnings of the actual work…and succeed!  But maybe it’s the honest Eagle Scout in me that I took the other road and I do work in an industry where I can actually speak intelligently unlike Congressman Brad Sherman (D-CA).  The following appears on Rep. Sherman’s website:

Most testified that their firms would continue to pay dividends to common shareholders, rather than use available capital to repay the federal government.  The exceptions were Bank of America, Citigroup, and State Street Corporation.

Now, I’m in the computer business and only mildly involved in the financial side of the house but let’s examine that statement for a moment.  Dividends are paid using retained earnings – for those from “the Valley” (Mr. Sherman), that means that it comes from monies earned in previous years.  For example, if I made a profit last year and lost money this year and decided to pay a dividend this year, that money would come from my previous year’s earnings.  Bank of America, as mentioned above, is sitting on roughly $70B of earnings that could be applied to this (and other) fiscal activity.  The fact that BoA isn’t paying a dividend this year, is likely an image marketing move in these trying times and not one of preserving TARP money.   Please to be noting that Rep. Sherman should know this.  He’s an expert on the House Financial Oversight Committee and has been conferred with multiple degrees showing that he’s at the top of his classes.  So this is either really scary or really political.  Given the backlash that is starting over the Giant Technicolor Stimulus Bill, maybe some of these companies will start pushing back on Congress during these Kangaroo Court sessions.

I doubt much will change though, we’re in for four years of amateur hour starting at the top complete with sideshow entertainment and a bunch of animal acts.

About GorT

GorT is an eight-foot-tall robot from the 51ˢᵗ Century who routinely time-travels to steal expensive technology from the future and return it to the past for retroinvention. The profits from this pay all the Gormogons’ bills, including subsidizing this website. Some of the products he has introduced from the future include oven mitts, the Guinness widget, Oxy-Clean, and Dr. Pepper. Due to his immense cybernetic brain, GorT is able to produce a post in 0.023 seconds and research it in even less time. Only ’Puter spends less time on research. GorT speaks entirely in zeros and ones, but occasionally throws in a ڭ to annoy the Volgi. He is a massive proponent of science, technology, and energy development, and enjoys nothing more than taking the Czar’s more interesting scientific theories, going into the past, publishing them as his own, and then returning to take credit for them. He is the only Gormogon who is capable of doing math. Possessed of incredible strength, he understands the awesome responsibility that follows and only uses it to hurt people.