Writing and Accounting
Dear H–: One thing that i have found, if i want to continue to write articles for Business Insider, is that i have to ignore the comments after my articles. Ninety percent of them are simply potshots. I do read them, just to try to gauge what was not understood or what more needs to be explained, but just the same. . . Now having said that, after reading one of the comments on my last article, i became so angry that i went in yesterday and started pulling the information on the fdic shutdowns.
Another problem with writing for Business Insider is the fact that i have laid out the foundation for many of my arguments in previous articles, and if one is not familiar with those, then it is hard to understand from where i am coming (including such things as the history of inflation, mortgage rates, refinancing, TARP, the banks too big to fail, etc.). And you can’t simply continue repeating yourself in every article.
BTW, I did read the two articles that you sent me the other day. To tell you the truth, i kind of got lost in the details. I am not sure whether that is out of my own ignorance, but i just couldn’t readily buy into the arguments.
Some critics think that i am looking at things too “simplistically”, and i understand that criticism; however, i think there is a good argument to be made that if our enlightened “Economists” had used “simplistic” fundamentals that are taught in their 101 classes, rather than their much more confusing “econometrics”, we wouldn’t be in the mess that we are in today.
I intend to finish the analysis that i started yesterday and getting the numbers for the banks the fdic shutdown in 2009, 2008, and 2007. When i get all of those, i intend to compile them by quarter and do some additional summary analysis. When i get the entire list, i will print the list out, and send you a hard copy.
ps. I am not an “accountant” but consider myself a pretty good “business financial analyst”. And let me tell you that i fully understand that “Book accounting” has its negatives; however, believe me there is quite a lot of information readily available in the book accounts the fdic has on the banks–and they have twenty-years of experience (i.e., since the S&L crisis) collecting it–and all that twenty-years of information is available. And if i have to depend on a source for my information, i think the comprehensive data in the fdic database, is about as good as it gets.
And that is speaking as someone who is trying to be a true independent. Have a good one.