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One Bad Apple Spoils The Entire Bunch

“One bad apple spoils the entire bunch,” is sometimes called an old wives tale, although history has yet to provide us with enough information to determine whether those observant women worked inside or outside the home. Regardless, this simple observation is not only rooted in common sense but proven by science. Ethylene is a plant hormone, a simple alkene that stimulates growth and also helps ripen fruit, and when released prematurely has the ability to over-activate that same function in the fruit around it, proving that one bad apple can, indeed, ruin the whole lot. For the sake of argument, what happens when all the apples in a barrel are already bad, when there is no cross-contamination but a symbiotic relationship among the decaying vegetation? Could it be the reason for the stench that emanates from the policies advocated by this administration is not the byproduct of one bad apple, but instead the result of an intentional assemblage of rotten fruit?

After three years of consistent mistakes, misjudgments, miscalculations, and misrepresentations a strong case can be made that this isn’t your run-of-the-mill misfeasance but the result of design and intent, for decisions and actions that run in opposition to the laws, social mores, and history of the United States are the criteria for what today passes as “POLICY”. The cause of this morass is not identified by merely saying there are systemic issues in the GSA, Secret Service, and Congress, for the hollow record of underachievement, failure, and nihilism begins with Mr. Obama due to the ripple effect of his behavior and stratagems aimed antithetically to capitalism and liberty. The result is not only a grotesque present, but a ripple effect toward a perilous future littered with washouts, craters, and IED’s.

Mr. Obama has disgraced the post to which he was entrusted and is seemingly on a daily bent to develop new and novel ways of desecrating his office now that he no longer can, nor cares to hide his predilections. Clearly, he cannot manage, and like all poor managers, surrounds himself with toadies. He has overtly enabled radical Islamists to gain huge geopolitical advantage, insulted allies Israel, Great Britain, and Canada, surrounded himself with radical anti-American disciples steeped in the pseudo-intellectual teachings of Cloward, Piven, and Allinsky, and is in denial with respect to how his bungling and ineptitude have harmed America because in his mind and the mind of the lemmings with which he has surrounded himself, they have won. In three short years they have pushed the country they detest into a steep decline by jousting at the windmills of “fairness” and “struggle”, have championed fiscal malfeasance, apologized to the world for our country’s achievements, led by a president who would deign to publicly blow air kisses to Vladimir Putin. They have yet to deliver the matador’s estocada, though it still holds a prominent position on their “to-do list.”


Now that it has exhausted its repertoire of machinations, The Federal Reserve has been reduced to drawing pass patterns in the playground sand after Quantitative Easing, the last radical scheme in its playbook, has done little to resuscitate the corpse of this once great economy. Fed action, a cocktail party euphemism for market manipulation, has undeniably proven vital at times over the decades, but the flip side of that coin has led neophytic ideologues of this administration to harbor a belief that markets can be controlled. Markets of all types (stock, bonds, commodities, real estate) are independent forces that might react to a short term tweak, but ultimately continue to carve paths with the strength of a flooding river; they ebb and flow through natural cycles and not because of the actions of man.

The activity that led to the unnecessary bankruptcy of MF Global was based upon former Goldman Sachs CEO, former U.S. Senator, and former New Jersey Governor Jon Corzine’s violation of a rudimentary securities law which prohibits the comingling of funds with customers in the event of profit OR loss, nothwithstanding the implicit “don’t steal their money, either.” What would prompt the once enormously successful and now disgraced Mr. Corzine to empty customer accounts like a cub broker with a cocaine problem?

He remains the second largest Obama campaign “bundler” in the country at a time when other people implicated in a crime of this stature would even be shunned by Bill Clinton’s White House, remanded to home confinement wearing an ankle bracelet, and awaiting trial. Yet, Corzine inexplicably remains a member of the president’s inner circle. Did the faux omniscience of this administration fog his glasses? Was he promised a quick turnaround on a misguided gamble? Was he given a wink and a nod that any loss would be covered for playing the role of this administration’s puppet-boy as it followed the delusional belief that it could prop up the avalanche of European debt with a little outside buying?
Unless Corzine is completely and utterly insane, he is some organ grinder’s monkey and I think it’s imperative we find out who’s providing the peanuts.

Is Accomodator General Eric Holder the answer? Not really. This guy enforces laws and turns a blind eye to others like a man tossing darts at a board full of balloons. Are there any young Woodwards or Bernsteins looking to make their bones with some crack investigative work? Not if they want to keep their jobs, and certainly not if their life insurance premiums aren’t paid. How about a John Dean staffer who gets a pang of conscience? There are better odds of a Middle East Peace.

Instead of being frustrated by this bleakness any longer today, I’m going to act presidential. My tee time is at 3:08.

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About Dan Bubalo

Daniel J. Bubalo was hired by the venerable firm of Kidder Peabody in 1978, before becoming a shareholder and partner with Drexel Burnham Lambert in 1984. He ultimately bought his own brokerage firm and steered it successfully through the market crash of 1987 before starting a venture capital and advisory company in the early 1990's. He has been a broker, manager, owner, trader, financier, and advisor on mergers and acquisitions, and throughout his career has opined regularly about the intractable nature of government and its inextricable hold and influence on financial markets. A securities violation landed him in federal prison from 1999 to 2003 which served to only sharpen his observations, watching in dismay at the dissolution of the Glass-Steagall Act, the 2001 dot.com bubble burst without so much as an investigation or arrest, and has since lectured between 2005 and 2011 at the Neeley School of Business at Texas Christian University on government intervention and ethics, as well as being presciently critical about Sarbanes-Oxley and Dodd-Frank. Dan can be contacted at dan@mychal-massie.com

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14 Responses to One Bad Apple Spoils The Entire Bunch

  1. Marilyn May 1, 2012 at 2:12 pm #

    Obama knows exactly what he is doing. He needs to demean and disgrace America and destroy Society’s money to fulfull his agenda to create the perfect hell hole which Muslims enjoys.

    • Mychal May 2, 2012 at 12:34 am #

      marilyn: I agree w/ you..Dan is a magnificent job of making that point…

  2. Mychal April 30, 2012 at 7:46 pm #

    dan bubalo: an intentional assemblage of rotten fruit to be sure…the old adage water seeks its own level…and no one has a lower level than the obamas…

  3. karen April 30, 2012 at 5:37 pm #

    Mychal: to bad mechelle couldnt have been raised by someone like your grandmother

    • Mychal April 30, 2012 at 9:34 pm #

      karen: my grandmom would not have tolerated her disposition…

  4. jim April 30, 2012 at 3:17 pm #

    Big Jim says: Unfortunately,in the apple barrel of obama’s regime and his party—maybe- be millions of bad apples.They’re gonna rot millions more. His scare tactic style campaign is in full throttle.Scare folks to vote for him….Thanks to you and other great thinkers and writers like you, just maybe you all can straighten bunches back out..Keep at it…we need you now …more than any time in history…Thanks

  5. jude/rockingjude April 30, 2012 at 11:53 am #

    Hi my friend…I miss you on twitter…were you warned?….
    Trust me I know where I stand…
    Your friend always~jude/rockingjude

    I receive your posts through email ;)

    • Mychal April 30, 2012 at 9:45 pm #

      jude/rockingjude: hey lady I was wondering where you were…I’m over at twitter all the time…that said I haven’t seen you there…what would I have been warned about over there…

  6. dan bubalo April 30, 2012 at 11:32 am #

    Mr. Obama prefers to golf when he isn’t pontificating and telling everyone to eat their vegetables, and that is why I referenced the tee time.

    I don’t know who among us has time to golf nearly 100 times in 3 years, but this president has somehow found a way.

  7. Thoms P. Keogh April 30, 2012 at 10:20 am #

    If it were actually possible to imgine the magnitude of the cess pool we are forced to call our government (at ANY level) and then informed that it was their intention to drain the thing, then, in the interest of accomplishment and efficiency, a person or group would perhaps walk around the perimiter in search of a logical place to start the runnoff. A logical begining for any endeavor.

    What this administaton would do should they had actually decided to drain the pool would be to seek out a high ground in the middle and shovel from one side of the mound and deposit it on the other side in the name of “action”, call it progress, and through their rose colored lenses, declare they are not only working on the problem but have actually accomplished something worthwhile.

    Say again, please. What time is “T” time?

  8. Duker April 30, 2012 at 10:00 am #

    Nancibelle – seems our fearless leader is more interested in his golf game than solving the problems of State is the meaning I derive from the last sentence.

  9. caveman April 30, 2012 at 9:58 am #

    Intelligent decision, Dan. I always knowed you wuz managemnet material. Golf is good for digestion.

    The history of our financial past is a traceable pathway of manipulation by the international financial pharaohs. Throughout that history, the primary goal of the global money controllers was to have a global central bank. They have that, now, in the Federal Reserve. To quote a previous defender of our culture, “the Federal Reserve in not federal, and it has no reserves”. It has never, in its history, instigated one singal event that was designed to benefit ‘We The People’. The entire function of the World’s Central Bank, the Fed, is to manipulate currencies, markets and economies to secure the well-being of international bankers. The Fed has been the instigator, and manager, of every economic boom and bust cycle since before Alexander Hamilton. I know, I know, the Fed only came into being in 1913. But what was already the international bankers cabal of criminals only took on its most prestigious and prominent role when Woodrow Wilson agreed, against his gut disapproval, to shove through the approval of The Fed. And it is obvious to many of us now that Wilson only agreed to sell out the global economy into financial slavery because he was offered the job of President of the World when his beloved League of Nations became a reality. Wilson, as all stooges, learned the hard way that bankers cannot be trusted, and when they didn’t give him his League, or his World Presidency, he sulked all the way to the grave. Franklin Roosevelt fell for the same ploy by agreeing to make the United States enter WWII in return for the World Presidency of the United Nations. He didn’t get his bribe either. If we don’t start now to tell the historical truth about these international gangsters, of which Greenspan and Helicopter Ben are only well paid pawns, we have no hope of ever rectifying this malfunction of a world that the Money Masters have manipulated into total financial slavery. It is not too late, but as long as we give ‘partial credit’ to a criminal organization like the Fed, the public will never come out of their stupor. I say again, it is not too late. But, it is perilously close.

    3:08? Don’t forget to hold your head still when you putt.

    Shalom, Y’all!

  10. susan thurman April 30, 2012 at 8:32 am #

    Love the column. one bad apple can spoil the entire bunch. It is not a matter of respect for obama that the democrats go along with him, it is out of fear. why is he trying to start a race problem. I am white and write a soldier in the army that is a bomb hunter in afghanistan who is black. i love him like he was my own son. i cried with him when his girlfriend dumped him and we talked on facebook. i have sent him probably $1,000.00 in food and gifts. when he gets out, he may come and live with us and finish college. why does obama, jackson, and sharpton want to start trouble? but keep up your good work!

  11. Nancibelle April 30, 2012 at 8:16 am #

    Lost me at the last line. What does it mean??

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