Category: Economics

But we do so enjoy kicking people when they’re downBut we do so enjoy kicking people when they’re down

Tetman Callis 0 Comments 7:15 am

“We don’t force bankruptcy debtors to give up every asset they own in order to get a bankruptcy discharge, recognizing that people need means to live after bankruptcy and need some way to get back on their feet. There is no societal benefit (in fact there is a great cost) in making people homeless or taking all of their clothes.” – Nathalie Martin and Ocean Tama, Inside Bankruptcy Law

Some would prefer they be enslavedSome would prefer they be enslaved

Tetman Callis 0 Comments 5:35 am

“We do not allow people to file for bankruptcy and discharge most of their debts to be nice. The philosophy is that relieving people of their debts allows them to get back into and contribute to the economy once again. This is considered good for our overall economy, though this theory is not without some controversy.” – Nathalie Martin and Ocean Tama, Inside Bankruptcy Law

The Great East Asia Co-Prosperity SphereThe Great East Asia Co-Prosperity Sphere

Tetman Callis 0 Comments 5:35 am

“Determined to make an example of the capital that would bring the war to an end, the Japanese achieved a climax to the carnage already wrought in the delta below. Fifty thousand soldiers hacked, burned, bayoneted, raped and murdered until they had killed, by hand, according to the evidence witnessed and collected by missionaries and other foreigners of the International Relief Committee, a total of 42,000 civilians in Nanking. Groups of men and women were lined up and machine-gunned or used alive for bayonet practice or tied up, doused with kerosene and set afire while officers looked on. Reports by missionary doctors and other dazed with horror and helplessness filled church publications in America. Much of the photographic evidence that later reached newspapers abroad came from snapshots taken by the Japanese themselves which they gave for developing to ordinary camera shops in Shanghai, whence copies made their way to the correspondents. In the Yangtze delta whole towns were devastated with acres of houses left in smoldering ruins or in rubble from bombing. In deserted streets the only living creatures were dogs unnaturally fattened by feasting on corpses or a few starving humans wandering like ghosts among the debris. The population that survived disappeared from the area in a mass migration. Rice crops rotted in the fields. Along the roads past blackened ruins and burned-out farms, Japanese troops moved, driving stolen donkeys and water buffaloes, artillery wagons tied with pigs and chickens, and carts loaded with loot pulled by peasants lashed between the shafts.” – Barbara Tuchman, Stillwell and the American Experience in China

Worn like a slicker in a stormWorn like a slicker in a storm

Tetman Callis 0 Comments 7:01 am

“Familiar with the plight of the Chinese peasant and unfamiliar with Marxism, Stillwell regarded the Communists as a local phenomenon and a natural outcome of oppression. ‘Carrying their burdens of famine and drought, heavy rent and interest, squeezed by middlemen, absentee landlordism,’ he wrote of the farmers, ‘naturally they agitated for a readjustment of land ownership and this made them communists—at least that is the label put on them. Their leaders adopted the methods and slogans of communism but what they were really after was land ownership under reasonable conditions. It is not in the nature of Chinese to be communists.’ “ – Barbara Tuchman, Stillwell and the American Experience in China

Do something? Anything? Even if it’s the wrong thing?Do something? Anything? Even if it’s the wrong thing?

Tetman Callis 0 Comments 6:24 am

“[Stillwell] had been struck by the Taoist motto on the virtues on inaction which he had copied down from an example in the Great Audience Hall of the Forbidden City. Only the first two characters for Wu Wei, or ‘Do nothing,’ were given there, leaving the Chinese viewer to add mentally, ‘and all things will be done.’ Deciding that ‘Do nothing’ exemplified the Chinese character, Stillwell concluded, ‘They are constitutionally averse to influencing events.’ Though there were increasing exceptions to this proposition, his finding represented a fact of life in the Orient that made for infinite impatience among Westerners, as Kipling noted when he wrote the epitaph, ‘A fool lies here who tried to hustle the East.’ By contrast, Europeans and their American descendants had been driven by the impulse to change the unsatisfactory, to act, to move away from oppression, to find the frontier, to cross the sea. They were optimists who believed in the efficacy of action. The people of China, on the other hand, had stayed in one place, enclosed by a series of walls, around house and village or city. Tied to the soil, living under the authority of the family, growing their food among the graves of their ancestors, they were perpetuators of a system in which harmony was more important than struggle.” – Barbara Tuchman, Stillwell and the American Experience in China

One could even argue that it’s trueOne could even argue that it’s true

Tetman Callis 0 Comments 6:01 am

“Dislike or outright hatred of insurance companies is not a recent phenomenon. In may ways, this industry could qualify as the business most people love to hate. Statutes governing the insurance industry have existed since the 1800s, but the second half of the twentieth century saw the largest growth in insurance legislation. Much of the early insurance regulation was a direct response to outright corruption on the part of some insurance companies. For instance, a company might collect life insurance premium payments from an insured for years and then refuse to pay when she dies, leaving her spouse and children in financial straits. Part of this resentment of insurance companies was based on the perception that these large, faceless corporations cared more for profits than their responsibilities to their insured customers. One could argue that this sentiment is still prevalent.” – Neal R. Bevans, Tort Law for Paralegals

They prefer the U.S. Treasury hold the lienThey prefer the U.S. Treasury hold the lien

Tetman Callis 0 Comments 2:05 pm

“A home mortgage is the most common example of secured debt in our society, but practically any valuable possession can secure a loan. We really do mean anything, tangible or intangible—a car, a collection of tattered law books, a debt that a third party owes to the borrower, the borrower’s rights under an esoteric contract (such as a musician’s right to receive royalties from a song each time it gets downloaded to an iPod), or a plaintiff’s rights to collect money from a lawsuit. Even a tenant’s interest in a lease or a farmer’s grazing rights on land can be pledged as collateral for a loan. Once you learn the legal power that a lender gets from having collateral, you’ll wonder why lenders ever loan money without taking a security interest.” – Nathalie Martin and Ocean Tama, Inside Bankruptcy Law (emphasis in original)

Those cats was killin’ peopleThose cats was killin’ people

Tetman Callis 0 Comments 5:48 am

“The original judicial approach [to products liability law] had favored the corporation under the theory that fledgling manufacturers needed time and resources to develop their products. The theory was that this ‘breathing space’ would help the United States develop economically, and this increase in overall economic health would essentially work its way down to every member of society. In practice, exactly the opposite occurred. The manufacturers and corporations, like spoiled children, indulged themselves and failed to apply their profits toward improved safety and better design of products. In an environment in which profits are the only yardstick, all other considerations, even those concerning injuries to consumers, take a back seat.” – Neal R. Bevans, Tort Law for Paralegals

We are legally allowed to help each other, within limitsWe are legally allowed to help each other, within limits

Tetman Callis 0 Comments 8:55 am

“The rescue doctrine is a rule of law holding that one who sees a person in imminent danger caused by the negligence of another cannot be charged with contributory negligence in a non-reckless attempt to rescue the imperiled person. The doctrine was developed to encourage rescue and to correct the harsh inequity of barring relief under principles of contributory negligence to a person who is injured in a rescue attempt which the injured person was under no duty to undertake.” – Justice Murray, Ouellette v. Carde

Good luck with thatGood luck with that

Tetman Callis 0 Comments 5:58 am

“Even if information be lacking, the leader must produce decisions. In most cases a poor decision will be better than no decision at all. Negligence and hesitation are more serious faults than errors in choice of means. No rule can tell us how to time decisions correctly.” – George C. Marshall, Infantry in Battle

In my profession, we call it ‘extortion by lawsuit’In my profession, we call it ‘extortion by lawsuit’

Tetman Callis 0 Comments 5:39 am

“Defamation actions have not infrequently been brought—or jury verdicts have been rendered, irrespective of the plaintiff’s motivation in bringing the action—not to compensate for actual pecuniary loss or to vindicate the plaintiff, but instead to cudgel the defendant and to mulct him for substantial damages that may be like a windfall to the plaintiff.” – Kenneth S. Abraham and Albert Clark Tate, Jr., compilers, A Concise Restatement of Torts

Call me luckyCall me lucky

Tetman Callis 0 Comments 5:33 am

“I returned, and saw under the sun, that the race is not to the swift, nor the battle to the strong, neither yet bread to the wise, nor yet riches to men of understanding, nor yet favour to men of skill; but time and chance happeneth to them all.” – Ecclesiastes 9:11