[SK in CV]

Asset managers is stupid.

It has pretty much always been this way. If they acted rationally, they would minimize losses. They don’t. They spend enormous amounts of time (and money) in valuing assets, then make decisions which seemingly ignore that valuation, and choose an option which increases their losses. I watched it happen during the downturn in the early 80’s, again in the early 90’s, and once more during the current crash. It is systemic stupidity.

(In fairness to asset managers, it may in fact be management. I was part of the management team for the court ordered liquidation of a $250 million hard money lender portfolio in the early 90’s, and we employed some very competent asset managers that had big bank experience. They provided detailed evaulations of every asset but it was always management’s decision to pull the trigger on a deal. I have no idea what level of management pulls the trigger for big bank distressed asset departments. Whoever it is, they do a crappy job.)

[SK in CV]

Asset managers is stupid.

It has pretty much always been this way. If they acted rationally, they would minimize losses. They don’t. They spend enormous amounts of time (and money) in valuing assets, then make decisions which seemingly ignore that valuation, and choose an option which increases their losses. I watched it happen during the downturn in the early 80’s, again in the early 90’s, and once more during the current crash. It is systemic stupidity.

(In fairness to asset managers, it may in fact be management. I was part of the management team for the court ordered liquidation of a $250 million hard money lender portfolio in the early 90’s, and we employed some very competent asset managers that had big bank experience. They provided detailed evaulations of every asset but it was always management’s decision to pull the trigger on a deal. I have no idea what level of management pulls the trigger for big bank distressed asset departments. Whoever it is, they do a crappy job.)

[SK in CV]

Asset managers is stupid.

It has pretty much always been this way. If they acted rationally, they would minimize losses. They don’t. They spend enormous amounts of time (and money) in valuing assets, then make decisions which seemingly ignore that valuation, and choose an option which increases their losses. I watched it happen during the downturn in the early 80’s, again in the early 90’s, and once more during the current crash. It is systemic stupidity.

(In fairness to asset managers, it may in fact be management. I was part of the management team for the court ordered liquidation of a $250 million hard money lender portfolio in the early 90’s, and we employed some very competent asset managers that had big bank experience. They provided detailed evaulations of every asset but it was always management’s decision to pull the trigger on a deal. I have no idea what level of management pulls the trigger for big bank distressed asset departments. Whoever it is, they do a crappy job.)

[SK in CV]

Asset managers is stupid.

It has pretty much always been this way. If they acted rationally, they would minimize losses. They don’t. They spend enormous amounts of time (and money) in valuing assets, then make decisions which seemingly ignore that valuation, and choose an option which increases their losses. I watched it happen during the downturn in the early 80’s, again in the early 90’s, and once more during the current crash. It is systemic stupidity.

(In fairness to asset managers, it may in fact be management. I was part of the management team for the court ordered liquidation of a $250 million hard money lender portfolio in the early 90’s, and we employed some very competent asset managers that had big bank experience. They provided detailed evaulations of every asset but it was always management’s decision to pull the trigger on a deal. I have no idea what level of management pulls the trigger for big bank distressed asset departments. Whoever it is, they do a crappy job.)

[SK in CV]

Nobody wants it both ways.

[quote=Zeitgeist]”Only two things are infinite, the universe and human stupidity, and I’m not sure about the former.” Einstein

Web definitions for La Raza
La Raza (literally “The Race”) is sometimes used to denote people of Chicano (i.e. Mexican American) and Mexican descent and the Hispanic world, as well by mestizos who share Native American or national Hispanic heritage.

While it is true that one meaning of “raza” in Spanish is indeed “race,” in Spanish, as in English and any other language, words can and do have multiple meanings.

I guess they want it both ways.[/quote]

The bolded words are the important ones. I’m not a native spanish speaker. At one time I was conversant. But I know enough to be confident that the nuances of the language evaded me. “Literal” translation is not always possible. Just like the same word can have different meanings in english, the translation of words is often imperfect.

The origin of “La Raza”:

the term originated in the book “La Raza Cosmica” written by José Vasconcelos, a Mexican intellectual (1881-1959). He described la raza cosmica as the product of racial mixing over time that was already in progress (black, white, asian, native american, all becoming racially and culturally mixed due to the events of time, for example the conquest of mexico resulted in mixing of the blood and culture of the natives and the spaniards). He believed that eventually all of the races would be completely mixed into a new race that had the best attributes of all the cultures and would “show us the way” so to speak.

the term caught on as simply “la raza” and has come to refer to the people of mexican ancestry(mexican as in from mexico, not specifically the native mexica tribe)wherever they may live at the present time. La raza to us means “our people” of common ancestry the same way a proud U.S. citizen might say “americans” with the intended meaning as his/her people of this country, all sharing a common background. that is the true meaning of “la raza”.

The full name of the organization is the National Council of La Raza. Since we should now be past the silly argument that the name itself is racist, I’ve yet to see any documentation that the organization has ever been involved with, or promoted racist activities. Unless, of course, it is assumed that promotion of any particular culture that isn’t white, is racist.

[SK in CV]

Nobody wants it both ways.

[quote=Zeitgeist]”Only two things are infinite, the universe and human stupidity, and I’m not sure about the former.” Einstein

Web definitions for La Raza
La Raza (literally “The Race”) is sometimes used to denote people of Chicano (i.e. Mexican American) and Mexican descent and the Hispanic world, as well by mestizos who share Native American or national Hispanic heritage.

While it is true that one meaning of “raza” in Spanish is indeed “race,” in Spanish, as in English and any other language, words can and do have multiple meanings.

I guess they want it both ways.[/quote]

The bolded words are the important ones. I’m not a native spanish speaker. At one time I was conversant. But I know enough to be confident that the nuances of the language evaded me. “Literal” translation is not always possible. Just like the same word can have different meanings in english, the translation of words is often imperfect.

The origin of “La Raza”:

the term originated in the book “La Raza Cosmica” written by José Vasconcelos, a Mexican intellectual (1881-1959). He described la raza cosmica as the product of racial mixing over time that was already in progress (black, white, asian, native american, all becoming racially and culturally mixed due to the events of time, for example the conquest of mexico resulted in mixing of the blood and culture of the natives and the spaniards). He believed that eventually all of the races would be completely mixed into a new race that had the best attributes of all the cultures and would “show us the way” so to speak.

the term caught on as simply “la raza” and has come to refer to the people of mexican ancestry(mexican as in from mexico, not specifically the native mexica tribe)wherever they may live at the present time. La raza to us means “our people” of common ancestry the same way a proud U.S. citizen might say “americans” with the intended meaning as his/her people of this country, all sharing a common background. that is the true meaning of “la raza”.

The full name of the organization is the National Council of La Raza. Since we should now be past the silly argument that the name itself is racist, I’ve yet to see any documentation that the organization has ever been involved with, or promoted racist activities. Unless, of course, it is assumed that promotion of any particular culture that isn’t white, is racist.

[SK in CV]

Nobody wants it both ways.

[quote=Zeitgeist]”Only two things are infinite, the universe and human stupidity, and I’m not sure about the former.” Einstein

Web definitions for La Raza
La Raza (literally “The Race”) is sometimes used to denote people of Chicano (i.e. Mexican American) and Mexican descent and the Hispanic world, as well by mestizos who share Native American or national Hispanic heritage.

While it is true that one meaning of “raza” in Spanish is indeed “race,” in Spanish, as in English and any other language, words can and do have multiple meanings.

I guess they want it both ways.[/quote]

The bolded words are the important ones. I’m not a native spanish speaker. At one time I was conversant. But I know enough to be confident that the nuances of the language evaded me. “Literal” translation is not always possible. Just like the same word can have different meanings in english, the translation of words is often imperfect.

The origin of “La Raza”:

the term originated in the book “La Raza Cosmica” written by José Vasconcelos, a Mexican intellectual (1881-1959). He described la raza cosmica as the product of racial mixing over time that was already in progress (black, white, asian, native american, all becoming racially and culturally mixed due to the events of time, for example the conquest of mexico resulted in mixing of the blood and culture of the natives and the spaniards). He believed that eventually all of the races would be completely mixed into a new race that had the best attributes of all the cultures and would “show us the way” so to speak.

the term caught on as simply “la raza” and has come to refer to the people of mexican ancestry(mexican as in from mexico, not specifically the native mexica tribe)wherever they may live at the present time. La raza to us means “our people” of common ancestry the same way a proud U.S. citizen might say “americans” with the intended meaning as his/her people of this country, all sharing a common background. that is the true meaning of “la raza”.

The full name of the organization is the National Council of La Raza. Since we should now be past the silly argument that the name itself is racist, I’ve yet to see any documentation that the organization has ever been involved with, or promoted racist activities. Unless, of course, it is assumed that promotion of any particular culture that isn’t white, is racist.

[SK in CV]

Nobody wants it both ways.

[quote=Zeitgeist]”Only two things are infinite, the universe and human stupidity, and I’m not sure about the former.” Einstein

Web definitions for La Raza
La Raza (literally “The Race”) is sometimes used to denote people of Chicano (i.e. Mexican American) and Mexican descent and the Hispanic world, as well by mestizos who share Native American or national Hispanic heritage.

While it is true that one meaning of “raza” in Spanish is indeed “race,” in Spanish, as in English and any other language, words can and do have multiple meanings.

I guess they want it both ways.[/quote]

The bolded words are the important ones. I’m not a native spanish speaker. At one time I was conversant. But I know enough to be confident that the nuances of the language evaded me. “Literal” translation is not always possible. Just like the same word can have different meanings in english, the translation of words is often imperfect.

The origin of “La Raza”:

the term originated in the book “La Raza Cosmica” written by José Vasconcelos, a Mexican intellectual (1881-1959). He described la raza cosmica as the product of racial mixing over time that was already in progress (black, white, asian, native american, all becoming racially and culturally mixed due to the events of time, for example the conquest of mexico resulted in mixing of the blood and culture of the natives and the spaniards). He believed that eventually all of the races would be completely mixed into a new race that had the best attributes of all the cultures and would “show us the way” so to speak.

the term caught on as simply “la raza” and has come to refer to the people of mexican ancestry(mexican as in from mexico, not specifically the native mexica tribe)wherever they may live at the present time. La raza to us means “our people” of common ancestry the same way a proud U.S. citizen might say “americans” with the intended meaning as his/her people of this country, all sharing a common background. that is the true meaning of “la raza”.

The full name of the organization is the National Council of La Raza. Since we should now be past the silly argument that the name itself is racist, I’ve yet to see any documentation that the organization has ever been involved with, or promoted racist activities. Unless, of course, it is assumed that promotion of any particular culture that isn’t white, is racist.

[SK in CV]

Nobody wants it both ways.

[quote=Zeitgeist]”Only two things are infinite, the universe and human stupidity, and I’m not sure about the former.” Einstein

Web definitions for La Raza
La Raza (literally “The Race”) is sometimes used to denote people of Chicano (i.e. Mexican American) and Mexican descent and the Hispanic world, as well by mestizos who share Native American or national Hispanic heritage.

While it is true that one meaning of “raza” in Spanish is indeed “race,” in Spanish, as in English and any other language, words can and do have multiple meanings.

I guess they want it both ways.[/quote]

The bolded words are the important ones. I’m not a native spanish speaker. At one time I was conversant. But I know enough to be confident that the nuances of the language evaded me. “Literal” translation is not always possible. Just like the same word can have different meanings in english, the translation of words is often imperfect.

The origin of “La Raza”:

the term originated in the book “La Raza Cosmica” written by José Vasconcelos, a Mexican intellectual (1881-1959). He described la raza cosmica as the product of racial mixing over time that was already in progress (black, white, asian, native american, all becoming racially and culturally mixed due to the events of time, for example the conquest of mexico resulted in mixing of the blood and culture of the natives and the spaniards). He believed that eventually all of the races would be completely mixed into a new race that had the best attributes of all the cultures and would “show us the way” so to speak.

the term caught on as simply “la raza” and has come to refer to the people of mexican ancestry(mexican as in from mexico, not specifically the native mexica tribe)wherever they may live at the present time. La raza to us means “our people” of common ancestry the same way a proud U.S. citizen might say “americans” with the intended meaning as his/her people of this country, all sharing a common background. that is the true meaning of “la raza”.

The full name of the organization is the National Council of La Raza. Since we should now be past the silly argument that the name itself is racist, I’ve yet to see any documentation that the organization has ever been involved with, or promoted racist activities. Unless, of course, it is assumed that promotion of any particular culture that isn’t white, is racist.

[SK in CV]

[quote=GH]I am pretty certain her work with “La Raza” – that is the “Race” qualifies Sotomayor as a racist and an activist judge. But that is not the issue here. The issue is Obama’s intent on legalizing 12 million illegals, which will require the complicity of the supreme court to pull off. With 12 million new democratic voters Obama is a shoe in for a second term.[/quote]

I’m pretty sure that your fear (or maybe it’s just simple ignorance) drives your own racism. “La Raza” is not the “Race”. It’s “the people”. Your irrational fear of the “legalizing 12 million illegals” with the “complicity of the supreme court” is further proof of that racism.

Brown people don’t bite. Cowboy up.

[SK in CV]

[quote=GH]I am pretty certain her work with “La Raza” – that is the “Race” qualifies Sotomayor as a racist and an activist judge. But that is not the issue here. The issue is Obama’s intent on legalizing 12 million illegals, which will require the complicity of the supreme court to pull off. With 12 million new democratic voters Obama is a shoe in for a second term.[/quote]

I’m pretty sure that your fear (or maybe it’s just simple ignorance) drives your own racism. “La Raza” is not the “Race”. It’s “the people”. Your irrational fear of the “legalizing 12 million illegals” with the “complicity of the supreme court” is further proof of that racism.

Brown people don’t bite. Cowboy up.

[SK in CV]

[quote=GH]I am pretty certain her work with “La Raza” – that is the “Race” qualifies Sotomayor as a racist and an activist judge. But that is not the issue here. The issue is Obama’s intent on legalizing 12 million illegals, which will require the complicity of the supreme court to pull off. With 12 million new democratic voters Obama is a shoe in for a second term.[/quote]

I’m pretty sure that your fear (or maybe it’s just simple ignorance) drives your own racism. “La Raza” is not the “Race”. It’s “the people”. Your irrational fear of the “legalizing 12 million illegals” with the “complicity of the supreme court” is further proof of that racism.

Brown people don’t bite. Cowboy up.

[SK in CV]

[quote=GH]I am pretty certain her work with “La Raza” – that is the “Race” qualifies Sotomayor as a racist and an activist judge. But that is not the issue here. The issue is Obama’s intent on legalizing 12 million illegals, which will require the complicity of the supreme court to pull off. With 12 million new democratic voters Obama is a shoe in for a second term.[/quote]

I’m pretty sure that your fear (or maybe it’s just simple ignorance) drives your own racism. “La Raza” is not the “Race”. It’s “the people”. Your irrational fear of the “legalizing 12 million illegals” with the “complicity of the supreme court” is further proof of that racism.

Brown people don’t bite. Cowboy up.

[SK in CV]

[quote=GH]I am pretty certain her work with “La Raza” – that is the “Race” qualifies Sotomayor as a racist and an activist judge. But that is not the issue here. The issue is Obama’s intent on legalizing 12 million illegals, which will require the complicity of the supreme court to pull off. With 12 million new democratic voters Obama is a shoe in for a second term.[/quote]

I’m pretty sure that your fear (or maybe it’s just simple ignorance) drives your own racism. “La Raza” is not the “Race”. It’s “the people”. Your irrational fear of the “legalizing 12 million illegals” with the “complicity of the supreme court” is further proof of that racism.

Brown people don’t bite. Cowboy up.

[SK in CV]

[quote=Aecetia]Allan,

Good points above and don’t leave out the Dred Scott v. Sandford Supreme Court decision. Judges are very fallible. That is why confirmation demands due diligence and not just a rubber stamp because she is a double minority. That is a pathetic way to pick a justice.[/quote]

I agree that confirmation demands due diligence. But are you suggesting that her nomination was solely because she is female and latina? She has more bench experience than any nominee in the last 50 years.

[Author]

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