Olio

"Olio" is defined as a miscellaneous collection of things. So herewith an olio of profound musings. What else would you expect?

FRAUD AND SHAME:

The collective shame many Jews (not TNB) felt over Bernie Madoff's giant fraud, mostly victimizing other Jews, has been partially assuaged by the revelations of a $9.2 billion fraud allegedly perpetrated by Allen Stanford, a Texas WASP financier. It's doubtful that gentiles (other than those duped) feel anything about Stanford, certainly not ethnic shame. Stanford, who has been "knighted" by the Prime Minister of Antigua, has falsely claimed that he is a descendant of the founder of Stanford University. The lesson here, if one is needed, is that fraud and other criminal behavior crosses all ethnic lines and there's no reason to identify with some miscreant just because he was bar mitzvahed.

THE TOXICITY OF ROD:

It's no surprise that Roland Burris is now being asked to resign by many parties. He was tainted from Day One by being appointed by the Beady Eyed Balkan. Next up-- everyone who interviewed Rod on TV, from David Letterman to Sean Hannity to Larry King, will be subpoenaed to appear at his Federal trial, where no cameras are allowed. What retribution!
Even Patti Blagojevich, she of the potty mouth, could face some charges. TNB is a little nervous because 10 years ago he met then US Rep. Blago, and shook his hand.

BEAT TNB OSCAR CONTEST:

If you submit (before the Oscar show, of course) a better slate of Academy Award winners than that promulgated by TNB below, you can win (TNB did not make this up) the latest in innovative toys-- a $100 Bernie Madoff doll, dressed in a devil suit together with a hammer for taking out your frustrations. Eligibility and other rules are under the sole discretion of TNB.
Best Picture Slumdog Millionaire
Best Actor Sean Penn (Milk)
Best Actress Kate Winslet (The Reader)
Best Supporting Actor Heath Ledger (Dark Knight)
Best Supporting Actress Tajari P. Henson (Benjamin Button)

Get a Good CPA

Although TNB's chosen profession of accounting is often maligned or ridiculed ("it was the accountant's fault","they're just pencil pushers", etc.) if you really think about it a lot of the current problems being experienced by politicians, businesses, investors and the like could certainly have been prevented or at least mitigated by getting a good CPA on the case. Consider these examples.

The tax problems of Treasury Secretary Tim Geithner and almost HHS Secretary Tom Daschle would never have occurred if a good CPA was used to "do their taxes". Geithner was using TurboTax? Incredible. He's lucky his confirmation hearing was scheduled before Daschle's. At least Obama uses a large CPA firm.

Investors apparently didn't bother to ask if Bernie Madoff used a good CPA before entrusting him (directly or through feeder funds) with billions. His so called auditors (a 2 person "firm" in rural Rockland County, New York) did not admit to regulators that they performed audits (a Freudian slip) thus averting periodic peer reviews which would have probably uncovered the fraud years ago. Nobody seemed to ask how a firm such as this could have the resources to audit Madoff's entities. Everyone was too enamored of their too good to be true results to do any diligence, due or otherwise.

Several years ago, a similar Ponzi scheme, Bayou Securities (the principal , one Samuel Israel tried to fake his own death last year to avoid jail) actually used a phony CPA firm to issue bogus reports. Eventually someone checked not whether there was a good CPA involved but rather were any of the financial statements legitimate--the answer was obvious!

How to go about finding a good CPA or at least deciding whether to trust the one whose work is presented? Besides the usual channels of professional societies and the Internet, there's always the ultimate reference for any CPA --yes The Normal Blogger. If there's too much new business created by this service, TNB may be looking for some new blogging help.

Then and Now

As The Normal Blog approaches its first anniversary next month, it is startling to realize just how much things have changed between then and now and just how unpredictable life is. Consider the following:

BARACK OBAMA
Then: Long shot for Democratic presidential nomination and even longer shot for White House
Now: Coolest dude on the planet

HILLARY CLINTON
Then: Odds on favorite for Democratic presidential nomination and White House
Now: #4 in line for White House (as Secretary of State)

ROD BLAGOJEVICH
Then: Unpronounceable Governor, little known outside Illinois
Now: National laughingstock and star of TV series "The Beady Eyed Balkan"

ELLIOT SPITZER
Then: High profile New York Governor
Now: National laughingstock and star of TV series "The Thousand Dollar Hooker"

SARAH PALIN
Then: Obscure moose hunting Alaska governor
Now: National laughingstock and star of TV series "Hottest Mama from Coldest State"

JOHN THAIN (Merrill), RICHARD FULD (Lehman), JAMES CAYNE (Bear Stearns)
Then: Masters of the Universe, widely admired for Wall Street success
Now: Widely reviled as symbols of Wall Street greed, arrogance and incompetence

BERNARD MADOFF
Then: Little known but highly admired for stunning, mysterious Wall Street success
Now: Universally reviled as shameless sociopathic sadistic serial swindler

CHICAGO CUBS
Then: Hoping for first World Series championship in 100 years
Now: Hoping for first World Series championship in 101 years

THE NORMAL BLOGGER
Then: Obscure retired CPA
Now: Obscure retired CPA