Author Of Its Own Demise

Pinch Sulzberger: Exhibit 1 for why nepotism is bad.In today’s edition, the New York Times calls for a bank employee compensation policy that would penalize what the NYT considers “speculative activities or other excessively risky transactions.”

Interestingly, were the feds to adopt such a policy, it would discourage banks from lending to the NYT itself. See here for an explanation of the NYT’s financial difficulties. The NYT also reported that its parent had to sell its headquarters, then lease it back to raise cash. Lending to an entity with the NYT’s financial difficulties would be considered by many to be an “excessively risky transaction,” one for which bank employees would receive no remuneration under the NYT’s own plan.

If the NYT want to endorse a plan that will foreseeably result in it losing its access to capital, far be it from ‘Puter to stand in its way.

About 'Puter

Always right, unless he isn’t, the infallible Ghettoputer F. X. Gormogons claims to be an in-law of the Volgi, although no one really believes this. ’Puter carefully follows economic and financial trends, legal affairs, and serves as the Gormogons’ financial and legal advisor. He successfully defended us against a lawsuit from a liquor distributor worth hundreds of thousands of dollars in unpaid deliveries of bootleg shandies. The Geep has an IQ so high it is untestable and attempts to measure it have resulted in dangerously unstable results as well as injuries to researchers. Coincidentally, he publishes intelligence tests as a side gig. His sarcasm is so highly developed it borders on the psychic, and he is often able to insult a person even before meeting them. ’Puter enjoys hunting small game with 000 slugs and punt guns, correcting homilies in real time at Mass, and undermining unions. ’Puter likes to wear a hockey mask and carry an axe into public campgrounds, where he bursts into people’s tents and screams. As you might expect, he has been shot several times but remains completely undeterred. He assures us that his obsessive fawning over news stories involving women teachers sleeping with young students is not Freudian in any way, although he admits something similar once happened to him. Uniquely, ’Puter is unable to speak, read, or write Russian, but he is able to sing it fluently. Geep joined the order in the mid-1980s. He arrived at the Castle door with dozens of steamer trunks and an inarticulate hissing creature of astonishingly low intelligence he calls “Sleestak.” Ghettoputer appears to make his wishes known to Sleestak, although no one is sure whether this is the result of complex sign language, expert body posture reading, or simply beating Sleestak with a rubber mallet. 'Puter suggests the Czar suck it.