By Russell D. Longcore
The Nation: Herman Cain gets a taste of the bloodsport that is presidential politics this week when someone leaked a story that Cain had been charged with sexual harassment back in the 1990s when he was running the National Restaurant Association. We learned that at least one woman, and possibly two, received a cash settlement to settle the charges with the proviso that they were prevented from discussing it…EVER. That’s called a confidentiality clause. I am an insurance claims specialist by trade, and have settled many cases just like this one. If the Plaintiff has no real case, it only makes sense fiscally to pay a settlement, rather than enduring a costly court fight. I’m certain that the settlement was cheaper than the legal fees would have been. On the nightly news, the attorney representing one of the women called for the settlement agreement to be set aside so his client could “tell her story.” Wanna bet that this shyster lawyer is looking for a payday also to keep him…and his client…quiet? You gotta love watching this stuff. High entertainment value. The smart money also bets that the story came from the Mitt Romney campaign staff.
International: The heads of the G20 nations met in Cannes France this week and agreed that they would all support the sick nations of the European Union. It was an entirely meaningless gesture, since all the nations in attendance are terminally ill. But this weekend, the Greek and Italian governments might flame out. Italy’s Silvio Berlusconi is in danger of losing his majority in the Parliament, and Greek Prime Minister George Papandreou just survived a no-confidence vote Friday night.
Business: MF Global (wonder what the MF stands for…certainly not what I’m thinking right now), a brokerage firm that specializes in derivatives, filed for bankruptcy in October, but made headlines this week when it was revealed that the firm had misused $630 million of their own customer’s money and could not account for that amount. The company bought heavily leveraged sovereign debt from EU countries like Portugal, Ireland, Italy, Greece and Spain (PIIGS). They ended up on the wrong side of the bet. Jon Corzine, former New Jersey governor, is now the FORMER president of the company, having resigned Friday. I hope that if laws were broken, prosecution will ensue. It is said that the derivatives market worldwide is over $100 TRILLION, and derivates are not regulated in any way.
Economy: 397,000 new unemployment claims in the last 7 days!! I will bet that every person who reads this column knows at least one person who has been laid off or permanently let go in the last year. Remember, dear readers. BOTH parties are responsible for the state of the economy.
Religion: Members of Robert Schuller’s Crystal Cathedral are pissed after getting emails from Schuller asking them to provide meals to his sick wife. They were told to deliver the meals to one of the church buildings where Schuller’s limo driver would pick them up and take them to Mrs. Schuller. Apparently, the church filing for Chapter 11 bankruptcy in October 2010 didn’t affect the Senior Pastor’s lifestyle nor his sense of entitlement.
Sports: Saturday night’s BCS football matchup is #1 LSU at #2 Alabama. This could easily be a game for the national championship, but this is just an SEC regular season game. Shows you how far superior the SEC is to all the other athletic conferences. I like LSU over ‘Bama.
Entertainment: Puss in Boots, the animated spin-off from the Shrek money machine, pulled in $34.1 million in its first week. I don’t know if Antonio Banderas was the major draw, but my money’s on Salma Hayek as Kitty Softpaws…that’s some pussy.
DumpDC. Six Letters That Can Change History.
© Copyright 2011, Russell D. Longcore. Permission to reprint in whole or in part is gladly granted, provided full credit is given.