Pan's Labyrinth

Because this blog is dedicated to economics and the law, I don't usually share movie recommendations. However, Director Guillermo del Toro's film, Pan's Labyrinth, is too good for me to keep private.

Mr. del Toro, like other great directors, leaves a unique, identifiable mark on his films. His films are characterized by an authoritarian presence; an idealistic character who rebels against authority and overprotective adults; a reminder of the horrors of armed conflict; and an otherworldly presence whose loyalty is unknown until the end of the film.

Roger Ebert called Pan's Labyrinth a fairy tale for adults. I'd describe it as a grown-up version of The Lion, the Witch, and the Wardrobe. Mr. del Toro reminds us to question authority and to listen to the wisdom of children. In this day and age, as we become more and more affluent, it is too easy to forget about the sacrifices our ancestors made to create a more civilized society. Without being heavyhanded, Mr. del Toro shows us the sacrifices we have made--and those we should never make.

Mr. del Toro directed another film, The Devil's Backbone, a darker and less polished film. The Devil's Backbone has similar elements as Pan's Labyrinth and effectively functioned as a warm-up for Pan's Labyrinth. If you want to see three great international films, watch Juan Antonio Bayona's The Orphanage, The Devil's Backbone, and Pan's Labyrinth, in that order.

Andrew Jackson on Government

Former President Andrew Jackson on government:

There are no necessary evils in government. Its evils exist only in its abuses. If it would confine itself to equal protection, and, as Heaven does its rains, shower its favors alike on the high and low, the rich and the poor, it would be an unqualified blessing.

President Jackson makes sense, until you realize government necessarily favors some groups over others in making laws and deciding what laws to enforce. Equal enforcement and equal protection are seldom-practiced, idealistic theories. President Jackson himself should have seen this--the rains he mentions affect some parts of the country, not all, and are dispersed unequally.

Katha Pollitt's Take on Sarah Palin

The Nation's Katha Pollitt has an immensely entertaining piece on Sarah Palin:

http://seattlepi.nwsource.com/opinion/380768_katha28.html

"If she wasn't a big reactionary, she'd make a fantastic community organizer."

"But let's be real: There is just no way Palin is equipped to be vice president, much less president. She doesn't know enough; she lacks the necessary grasp of, and curiosity about, our complex world; her political philosophy could fit on a bumper sticker: Us versus Them."

Yes, it's a lefty view, but it's great writing, so I had to share. I had no idea McCain's campaign demanded and received special debate rules for the Biden-Palin debate. Shame on McCain for making such a demand.

Katha Pollitt has a blog: http://kathapollitt.blogspot.com/

I can't believe I haven't read more by Ms. Pollitt. She is joie de vivre personified.

[Note: this post has been modified since its original publication.]

Tom Toles on Debt Addiction

Tom Toles delivers another scathing, hilarious cartoon. This one's from February 28, 2008 (Washington Post). I love the comment at the lower right hand side.

WaMu: No Safeguards Lead to Collapse

I have accounts with WaMu and am happy that JP Morgan has taken them over. JPM's James Dimon has the respect of many investors and Wall Street, and thankfully, my deposits are safe at WaMu. I just read this article in a legal magazine about WaMu, and it's no wonder the bank collapsed. Take a look at this story, where WaMu gave 43 loans (25 million dollars) to one couple, revealing a complete lack of safeguards or risk controls:

http://www.abajournal.com/news/1_family_43_wamu_mortgages_27m_in_likely_lender_losses

If the Fed is correct--that it is buying undervalued securities that will eventually increase in value when the real estate market stabilizes--then JPM would be a good buy. In effect, JPM has partnered with the Fed in its new debt issuance and stands to gain or lose like the Fed. I had considered buying JPM stock, but the stock increased 11% today. It looks like I missed the boat.

Malaysian Blog re: Racialism

The former Prime Minister of Malaysia, Dr. Mahathir Mohamad, has a blog (www.chedet.com). He recently wrote a post imploring his people to set aside racial issues and work together. It reminded me of Obama's plea to Americans to come together. Malaysia has three major ethnic groups--Malay, Chinese, and Indian--and apparently, segregation is more common than not, and quotas favoring the indigenous Malays have hurt racial relations. See the post here:

http://test.chedet.com/che_det/2008/09/malay-unity-and-malaysian-unit.html#more

America is similar to Malaysia in the sense that we also have three major ethnic groups--Caucasians, Latinos, and African-Americans--and to some extent, de facto segregation, even in diverse cities. Americans should keep an eye on Malaysians to see how they deal with their diverse population. We may be able to avoid making their mistakes and learn from their successful policies.

Fantasy Sports

At Yahoo's (YHOO) shareholder meeting, I mentioned the curious lack of attention given to Yahoo's wonderful fantasy sports franchise. Today, I noticed an article listing Yahoo as the top online destination for fantasy sports. It looks like Yahoo has only recently begun focusing on increasing revenue from its fantasy sports platform. Better late than never:

http://www.reuters.com/article/marketsNews/idINN1048236120080925?rpc=44

Also, ESPN's Bill Simmons wrote an article about how fantasy sports have finally moved into the mainstream, to the point where if you're not involved, you're considered unusual:

http://sports.espn.go.com/espn/page2/story?page=simmons/080919