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I was feeling inspired by my discovery of a new internet meme site today (There, I Fixed It), which focuses on McGuyver style hacks, or kluges, that are LOL-worthy.

Yes I realize the ghost of the English Language just rolled over in its grave.

If you’ve been jacked into the net long enough, you may remember one of the first internet memes, which proclaimed “ALL YOUR BASE ARE BELONG TO US”. For a quick recap, check out the Wikipedia entry.

What’s this on Wikipedia? A portion of the original Japanese script for the cut scene? Oh my… we must have some fun with this. The internet has been laughing about “AYB” for years – can our best modern technology do better?

Original English Translation (from the game)

  • Mechanic: Somebody set up us the bomb.
  • Operator: Main screen turn on.
  • CATS: All your base are belong to us.
  • CATS: You have no chance to survive make your time.
  • Captain: For great justice

Actual English Translation (Human, recent)

  • Engineer: It appears that someone has planted explosives.
  • Radio Operator: The main screen is receiving a visual.
  • CATS: All of your bases are under our control.
  • CATS: Make the most of these last moments of your lives.
  • Captain: Our hopes for the future …

Ladies and gentleman, without further delay, I give you “All our base are belong to us” as translated by Microsoft Translation Services, Google Translate, and Babylon.

Google Translate:

  • Professional organizations: by someone, it seems that a roadside bomb.
  • Professional communication: the vision comes to the main screen.
  • CATS: The military cooperation of the federal government, you are our base, all
  • CATS: you are running low life at best respect
  • Captain: We hope for the future of

Bing Translate:

  • Engineer: by someone seems the booby is explosive.
  • Vision communications person: come to (untranslatable)
  • CATS: Federal Government army cooperation by all your base are have I got
  • CATS: at most low life, before and in the future of
  • Captain: we hope…

Babylon Translation Services

  • An engineer: Explosive substance seems to have been set who was
  • An operator: A vision comes to the Main screen
  • CATS: By cooperation of the federation government troop had your base entirely
  • CATS: Value to the utmost small amount of life; it is
  • Captain: For hope in our future

“There I fixed it”

On balance, suddenly “All your base are belong to us” doesn’t seem such a big mistake. In fact, I’d wager it’s worth a C+ in a basic Japanese class. All the combined might of Google, Bing, and a professional translation service combined couldn’t make heads or tails of the conversation.

Overall, I’m left with two possible morals for this story. The first is this: learn Japanese. The other is that, while ridiculous, the original translation was far more entertaining than anything else including the original.

Good on ya CATS, hope to see you in a remake some day. Don’t ever lose that Engrish accent.

Recently, a Family Guy episode took a lot of heat for its rather cruel portrayal of people with Downs Syndrome. In a conversation with some otherwise rational fans of the show, I got upset with their ardent defense of Family guy – as though any disclaimer could excuse taking the piss out of a largely defenseless and rather tragic portion of society. The following were my comments on the matter. Sadly, they were met with a mixed reception:

I don’t believe freedom of speech gives us the moral right to hurt others for the sake of a laugh. Satire is a dead art, replaced by over the top crassness. I know it’s a cycle but it still upsets me.

I think in any moral society we have certain protocols that are observed at its most basic level and Family guy happily crossed one of them. When we forget the things that make our society great – often interwoven within the moral fabric of a just and fair culture – we begin to loose the very things whole generations fought and died for.

It’s when you get caught up in the idea that you can say or do anything in a “free” society then simply create reparations for the people hurt once it is too late to salvage what was lost… that we begin down the dark road of democratic societies like the ones that produced the first Roman emperors or Hitler.

Liberty isn’t freedom from morality, it is freedom to live according to one’s on beliefs in a way that doesn’t harm the basic fabric of society. It was nicely summed up by Jefferson (1) when he spoke of our inalienable rights to life, liberty, and the pursuit of happiness.

I’m not surprised when mainstream television reaches new lows, I’m just surprised when perfectly rational people defend those lows as virtuous and commendable.

Freedom and anarchy are not the same. Liberty and freedom from morality are in fact opposites that weak minded angry rebels think are analogous. It’s a Devil’s trick, that one.

Either you see it or you don’t. Sadly, the latter are now in the majority since we stopped teaching young Americans how to think for themselves in the early 1970s. The loss of logic is now the loss of four full generations.

1. Technically the idea was John Locke’s when he spoke of “Life, liberty, and happiness” as rights. One of the primary differences between European & North American post-enlightenment philosophy is the distinction between the right to happiness and the right to a pursuit of happiness.

This is amazing.

I am blocked from posting in public forums on Facebook for an indeterminate amount of time because I abused the system by sharing my last post (on how to avoid abusing your friends by using Facebook lists) too many times.

Wow, that’s special.

Facebook, I stand in awe of your administrative algorithms and fear what is going to happen when Google’s engineers really sink their teeth into your market share.

We’ve all been guilty of it.

We use a Facebook application, usually a game we play, and it wants to share news with our friends every time we so much as twitch near the keyboard. This can be useful to the 2% of our friends who actually use the application in question but to the other 98% (or in my case about 900 unfortunate souls), it’s Spam.

Don’t believe me? Check out this 1.5 million 2.03 million (single day increase from draft to post) member strong group called “I don’t care about your farm, or your fish, or your park, or your mafia!!!

Trust me folks, its spam, and nobody likes a spammer. In fact, if you regularly post game info I’d be willing to bet 20% or more of your friends have blocked you from their news feed. That’s going to suck when you actually have something important to say.

Well, dear reader, I’m here today to teach you how to be a responsible Facebooker. Unfortunately, you are going to need to jump through a few hoops the first time you set this up but when you are done, never again will your mother-in-law get requests to “Torture A ULF Lieutenant” at 2pm on a Tuesday when you are supposed to be at work making the money to pay your rent.

Mafia Wars Screenshot

Torture your in-laws with Mafia Wars posts

For starters you will need:

  • To know how to create a new friend list
  • Knowledge of how to set up security zones with secondary lists
  • To know how to open multiple browser windows or tabs
  • About 15min for the average moderate-to-heavy use application

I’ll cover all of these bullets in turn except for multiple windows and tabbed browsing. For that I’m going to make you google the answer because it’s ouside the range of what I have patience to screenshot.  Ok I won’t really make you google it, that link should pretty much cover the basics.

So here is the 1000 foot overview of what we are going to do

  1. Create friend groups for each of your games/applications. This way when the Mafia wants you to torture that ULF member, you can post it to your wall in such a way that ONLY people from Mafia Wars actually see the request.
  2. Create security groups so that friends who you only know from Mafia Wars don’t know your phone number, your weekend plans, and how drunk you got on Saturday night.
  3. Finally, we are going to learn how to change the visibility settings in a game when it asks to post something on your wall.

So, let’s get started! Feel free to skip over any parts you already know. This is a Facebook 101 lesson from the ground up.

Step 1: Create a friend list on Facebook

  1. Open Facebook, on the top right click on “Account”
  2. Select “Edit Friends”


  3. In the center column on the top left, click on “create new list”
  4. Add at least one member. See the screenshot below illustrating this process. The people in blue are members of your list, the ones in white are not.

    Click Image to Enlarge

I’d like to add for posterity that getting back to a list for editing follows a slightly different path. You can either edit the lists per-person on the “Edit Friends” page or you can do it from the friends list interface.

Option #2 - From Your Home Page

For the latter option you need to click “friends” on the left column of your home page, this will expand your lists. Clicking a list will show you the news for that grouping. At the top-right of the center column, you will find an “Edit List” button. That will let you add/remove friends from a list. In Step 3 you will see why this is almost always the easier option.

Step 2: Secure your friend lists on Facebook

Ok so let’s face it, not all of you want to expose your phone number, relationship status, and political wall rants to the kids you play Farmville with. That’s totally understandable. I have a list called “limited profile”, which means you can’t see jack crap and another called “somewhat limited” that people like mom & dad go under so when a DJ says “hey did you call me at 5:30 this morning?” my parents don’t wonder how I plan on making it to lunch by 1pm (I’m looking at you Mr. Dresden).

Some of us learn these things in life the hard way. I’m often one of them.

But I digress. Essentially you want to create a series of secondary lists for security purposes that define how much of your profile a person can see. You can then add Castle Age players to both the Castle Age list AND a limited profile list – because Johnny McMasters in Manitoba just doesn’t need to know the same life details as your BFF in Manhattan or your former roommate in Los Angeles.

Once you have created a series of security “zones” (to use the IT vernacular), click on “Account Settings” again (top right) and this time go to “Privacy Settings”. Under both “Profile Information” and “Contact Information” you will want to select “Custom Settings and assure that each of your security zones is blocked from the appropriate areas.

Some of you may be asking “Why not just block every member of Castle Age from seeing my contact information?”

If you figured out the answer, congratulations, you get a cookie.

You may have real life friends who ALSO play Castle Age, Mafia Wars, or have a secret passion for zookeeping. I’m pretty sure you won’t want to block them from seeing critical information on your Facebook. So two groups it is – one for sorting and another for security. Deal with it.

Step 3: Determine who plays the same game

Okay so you can set up lists, you can grant everyone the proper security rights to your personal information – but how do you know who all plays the application? This part is pretty easy. I like to do it as follows:

  1. Open the application, whether it’s Poker, Farmville, Mafia Wars, or some yet unknown phenomenon.
  2. Scroll to the very bottom of the page.
  3. Look for a link to the application name on the bottom left side of the footer. Click it.


  4. This will take you to a page with information on the game & developer. Click on the “Info” tab

    Click Image to Enlarge

  5. Once again, scroll to the bottom of the page
  6. Under “friends using this application” click “see all”. It’s in small blue letters to the right just above a random selection of eight friends who have the app installed.

    Click Image to Enlarge

This is the list you need to create. This is also the tedious part.

  1. Open another Facebook page in a separate browser (Ctrl-N) or a separate tab (Ctrl-T)
  2. Leave your list open in the first instance and in the second, create your friend list
  3. Carry names across. For some god awful reason they are not in the same order.
  4. I find it useful to begin typing the name of each person in order, click to select, then double click my typing to “highlight all” and start typing the next person. This is all illustrated in the attached screenshot (below)
  5. If you use Windows 7 and are using two separate browser windows, hi-light each one in turn. With your game members list hit “Windows Key + Left Arrow” and on the other hit “Windows Key + Right Arrow”. This will jump one window to each side of the page for easy copying.You can set this up in other operating systems but you don’t get the nifty shortcut keys. You can see why this helps.


    Click Image to Enlarge

  6. Finally, consider hitting “save list” every 50 entries or so. You don’t want your browser to crash after 300 additions. Also, make a mental note of what person you are on at the start of each. It saves time if/when something goes wrong.

The larger the list, the more you will despise this initial process. Once you have the list created though, it only takes a few seconds a day to maintain. More or less, every time a new game friend is added you should immediately get them categorized. 30 seconds at the time of addition is a lot easier than cross checking the whole damn thing once a month.

Step 4: Posting information to the correct group

At this point, you will want to open your favorite spam producing application and perform an action that will result in a post being made to your wall. When the request pops up, look for the padlock icon. Click it and select “Custom”

You will note that in many browsers, the windows don’t quite fit inside of one another. This is tricky but not an impossible situation.

  • If you have blocked a limited profile by default that includes most members of your gaming community, remove that right away.
  • Change “Make visible to these People” to “Specific People”
  • Type the name of the list(s) you want to publish to
  • If your windows don’t fit click on the gray  text that reads “Only the people above can see this”, hold down the left button, and drag down. This will force the window to scroll so you can once again see the “save setting” button. Please note that while this works in Chrome and Internet Explorer, it does not work in some versions of Firefox and I have not tested it in Safari.

    Facebook needs to fix their UI bug. I’m talking to you Zuck.

  • Click on Save Setting
  • Add any notes you like and press “Publish”

    Click Image to Enlarge

A quick note for Farmville players! The only spam-producing event in your game (that I know of) is a lost animal. You will not be able to complete Step 4 unless you find one!

Congratulations Facebookers! Once your lists are set up it is dead simple to publish game notification to only a select group of gamers and not everybody you know. Now, for the sake of my poor bleeding eyeballs – get back out there and stop making a mess of my news feed.

Just remember: every time you add new friends to a game, add them to the appropriate lists.

Enjoy!

As an aside for developers, I would say there is a pretty strong need for an application that automates this process. This is above and beyond my ability; however, I’ve got a feeling it is well within yours. Someone make it happen, please :)

Despicable Ballmer?

So I was reading an article over at Wired today about the HVAC going out on Steve Ballmer’s CES 2010 keynote speech. They had this great image of a Steve Ballmer silhouette against the darkened room as Microsoft and the conference center staff struggled to restore power.

Suddenly I realized where I knew that figure from.

Despicable Me & Steve Ballmer

Coincidence? You tell me…


And who is the world’s #1 supervillain in this animated film, due out next summer?

Yes, that’s right, none other than Bill Gates!


This has been a tongue-in-cheek presentation. I actually quite like the direction Ballmer has taken Microsoft in and I am an MCSE supporting a mixed Vista/Win7 environment. Please don’t take this too seriously. Kthx.

In His Own Words

Let’s rewind a year:

“I’m going to have all the negotiations around a big table. We’ll have doctors and nurses and hospital administrators. Insurance companies, drug companies — they’ll get a seat at the table, they just won’t be able to buy every chair. But what we will do is, we’ll have the negotiations televised on C-SPAN, so that people can see who is making arguments on behalf of their constituents, and who are making arguments on behalf of the drug companies or the insurance companies. And so, that approach, I think is what is going to allow people to stay involved in this process.”

– Candidate Barak Obama

Oh, really?

Look, Mr. President. I understand campaigns are about getting elected and what you face in the Oval Office is a fair bit different but in this case you didn’t even make an effort. Health care reform should have been a 2-4 year goal. How can you shove a bill down our throats made of such opaque language companies will need a lawyer to understand it – then not even mention things like TORT reform, the doctor shortage, or insurance competition across state lines?

It’s my blog, I’m allowed to get up on my soap box for a minute. Mr. President, this bill is the biggest piece of garbage out of DC since the last time a President wanted to give a compelling State of the Union address and was running out of time to talk about anything other than a failed summit in Copenhagen, a nuclear arms reduction deal that didn’t materialize, and a Nobel Peace Prize a few weeks into office.

I know, I know, it happens to everybody.

Enjoy your speech.

The Art of Dialog

I spent a lot of time in front of a computer this weekend catching up on TV shows and watching a couple of old movies; the kind I loved the first time then never saw them again. Anyhow, one of these flicks was an under-rated little masterpiece of dialog set against an ultimately forgettable backdrop. That movie was “Things to do in Denver When You’re Dead”

I’ll spare you the plot details but the establishing scene between Jimmy the Saint and Dagne to this day reminds me of why we love movies. If only real life happened with such flair and certainty. This bit of dialog should be cheesy but instead it’s beautiful:

Jimmy ‘The Saint’ Tosnia: Dagney? That’s your name? Tremendous name. My name’s Jimmy and I have just one single impulsive question. Are you in love?
Dagney: What?
Jimmy ‘The Saint’ Tosnia: At the present time, are you in love?
Dagney: Why?
Jimmy ‘The Saint’ Tosnia: Because if you are, then I won’t waste your time. I’m really not the type of man to impede another man’s happiness. However, if you’re not presently in love then I will continue my rhapsody, because if I may say so, Dagney, you are most definitely the bees’ knees.
Dagney: Does this rap ever work?
Jimmy ‘The Saint’ Tosnia: Alas, in the old days. Now I rarely get a chance to try it. But you haven’t answered my question.
Dagney: I forgot it.
Jimmy ‘The Saint’ Tosnia: Are you in love?
Dagney: Well there is someone…
Jimmy ‘The Saint’ Tosnia: But?
Dagney: We date… I have memorized his phone number, but I won’t use his toothbrush… We’re somewhere in between and he’s crazy about me.
Jimmy ‘The Saint’ Tosnia: As he should be. You glide.
Dagney: I glide?
Jimmy ‘The Saint’ Tosnia: You glide. It’s a very attactive quality. Most girls, they merely plod along. You, on the other hand, you glide… Tell me about it. What’s his name? Chip?
Dagney: Alex…
Jimmy ‘The Saint’ Tosnia: Same thing. Does he make you thump?
Dagney: Define “thump”.
Jimmy ‘The Saint’ Tosnia: Thump. When you think about him, you can’t eat You can’t sleep. You forget about man’s inhumanity to man. Does he do that for you?
Dagney: That’s a ridiculous concept. No one can do that.
Jimmy ‘The Saint’ Tosnia: Girls who glide need guys who make them thump. Have dinner with me.
Dagney: Aren’t we the sultan of segue?
Jimmy ‘The Saint’ Tosnia: It’s a beautiful month. Just have dinner with me.
Dagney: Are you going to make me thump?
Jimmy ‘The Saint’ Tosnia: Or die trying.

Ultimately, I think this movie failed to capture America’s imagination for two reasons. The first is it was a dark romance where Jimmy The Saint fell in love but was condemned to death by the mob; the movie was released in 1995. As you will recall, the 90s were an era of huge optimism and little angst among anyone outside the exploding grunge-band scene. The second reason is that while the film comes to a satisfying conclusion it is not a happy ending. It doesn’t quite break your heart either and in our movie experiences we want either to celebrate or cry. This film did neither for me.

If you love dialog though, see if you can pull this off of Netflix some time. It’s worth a watch and an unlikely member of my favorite films list.

A couple of things passed by me before 11am today that I thought were worth mentioning. The first is a WordPress plugin which, sadly, I can’t install until I transfer this blog to its own server. The second is a major difference between Bing and Google.

  1. Gigya Socialize
    This fantastic little plugin sounds like it still needs a bit of work to be ready for prime time but I love the premise. Most people who read a blog would love to make a comment but don’t want to sign up for YET ANOTHER website just to say their piece. Wouldn’t it be nice if my blog could authenticate readers by way of Facebook Connect? Even better, throw in MySpace, Twitter, and OpenID. Well, bloggers, that is exactly what Gigya is attempting to do. I haven’t played around with it at any great length but the idea is that any reader with a login on any of those four systems can now comment your posts using that identity. Better yet, when you make a new post, you can (if you choose) comment the new link back to all of their walls.

    Shiny.

  2. And the difference between Google and Bing is?
    Well okay that’s a trick question, there are dozens. I have come up with reasons to like Bing maps (the 3D stuff is really cool even if it doesn’t like Chrome) but hadn’t really started using search yet until today. My friend Andy Braun had asked me if there was any way to get his comments on this blog over to his friendfeed. Hmm… “Let me Google that” I said.

    As it turns out, Bing knows the difference between “add wordpress comments to friendfeed” and “add friendfeed comments to wordpress” . Google, in its infinate wisdom, gives up the same results for both. I’m sorry, Google, I’m not interested in getting friendfeed likes and favorites or comments into my WordPress blog, I already knew about that plugin. I’m interested in getting my reader’s comments into their own Friendfeed setups.

    As it turns out, that’s not yet possible. Thaks to Bing, however, I was able to determine this. Google was completely unhelpful in this regard today and even if Bing’s results still feel a bit thin compared to the Googleplex, score 1 for Redmond. It’s still a long shot but MS is working on making me a fan.

In a complete digression, if you haven’t checked out the daily Bing home page, it’s fun. Scroll your mouse around the image of the day for hidden search result hotspots related to the theme. Today’s is about Phnom Penh, Cambodia and shadow puppetry.

Not much has been reported on the Apple/Verizon deals since a flurry of rumors hit the net back in April. As reported by Engadget, CDMA is a pretty small percentage of the world market; unless you happen to be named Verizon.
So imagine my surprise when I ran into this on Apple’s job board?
URL: https://jobs.apple.com/index.ajs?BID=1&method=mExternal.showJob&RID=28132
Job Title:
* iPhone Senior RF Driver Engineer
Qualifications include:
* Strong knowledge and experience with UMTS or CDMA RF systems
In fact, computerjobs.com lists the posting as an “ASAP” hire date: http://www.computerjobs.com/job_display.aspx?jobid=2204465)
Go on Apple, try and deny it this time. The rest of us will just wait around for AT&T to go away and write it off as a terrible wireless experience we would rather not talk about.
Proof of a Verizon/Apple Deal for 2010?

Not much has been reported on the Apple/Verizon deals since a flurry of rumors hit the net back in April. As reported by Engadget, CDMA is a pretty small percentage of the world market; unless you happen to be named Verizon.

So imagine my surprise when I ran into this on Apple’s job board?

Job Title:
* iPhone Senior RF Driver Engineer

Qualifications include:
* Strong knowledge and experience with UMTS or CDMA RF systems.

In fact, computerjobs.com lists the posting as an “ASAP” hire date. Go on Apple, try and deny it this time. The rest of us will just wait around for AT&T to go away so we can write them off as a terrible wireless experience we would rather not talk about.

Ever.

“History may not repeat itself, but it rhymes” — Mark Twain

I had a fun email debate over lunch today with some friends from UC Davis. Rather than relate the whole thing, I’m going to pose a scenario for you and ask you to identify the period of history I am talking about:

  • A crisis began with a Republican moralist presiding over the White House
  • War was fresh in mind
  • The country had been through an unusually long economic expansion
  • Characterized by boom & bust cycles
  • Immigration was fueling dramatic policy changes
  • Technology was rapidly changing lives
  • Wall Street advisors were creating huge new entities as a result of buyouts & mergers
  • Government was investigating prominent executives
  • Public attitude towards business leaders was negative
  • A sentiment fueled a “muckracking” press
  • Several leading institutions went bankrupt
  • Resulting in a 37% decline in the stock market
  • Causing a run on banks
  • Leading to a crisis of confidence
  • JP Morgan and others channeled money from healthy institutions into weak ones in an attempt to save them
  • Currency standards came under assault
  • Reform elements of both political parties believed that the American banking system was fundamentally flawed and needed wholesale change
  • The crisis was brief, when compared to a history of recessions, but had global ramifications
  • Eventually bank reformists won the day and created a massive new government body
  • In a social context, government was becoming more interventionist
  • And in many cases more intrusive in citizen’s personal lives
Question: What year did all of this happen?

The Panic of 1907: Lessons Learned From the Market's Perfect Storm

“In the summer of 1907, the American economy was showing signs of weakness as a number of business and Wall Street brokerages went bankrupt. In October, the respected Knickerbocker Trust in New York City and the ¹Westinghouse Electric Company both failed, touching off a series of events known as the Panic of 1907.

In the wake of the initial business collapses, stock market prices plummeted and depositors made a massive run on the nation’s banks. The U.S. Treasury pumped millions of dollars into weak banks in the hope of saving them, but the string of collapsed institutions lengthened.

In a reprise of his role during the second Cleveland administration when the gold standard was under assault, J.P. Morgan acted to restore order. He summoned the leading bankers and financial experts to his home where they set up shop in his library. Over the course of the next three weeks, Morgan and his associates labored to channel money from the strong institutions to the weaker ones in an effort to keep them afloat.

The joint effort of the government and the business leaders improved conditions markedly over the course of several weeks. While the crisis passed, the finger-pointing began. Reform elements of both political parties believed that the American banking system was fundamentally flawed and needed wholesale change. Business leaders, however, held that Roosevelt’s progressive legislation had upset the natural order of the economy and the government should stop its meddling.

Following the Panic of 1907, the reform elements gradually gained the upper hand. An emerging consensus affirmed that thorough bank reform was necessary to provide badly needed currency elasticity (a major issue in the Panic) and the general soundness of the banking system. Congress responded by passing stop-gap legislation, the Aldrich-Vreeland Act (1908), until more thorough actions could be prepared.

With the passing of the Owen-Glass Federal Reserve Act of 1913, the Federal Reserve System was created. The “Fed” was designed to be flexible and responsive to the economy and independent of politics. The Fed has evolved through the years by implementing many strict checks and balances. New departments, the General Accounting Office, GAO, and the Office of Management & Budget, OMB, were created to audit the Fed and most other government departments. As a result, the American economy, and American society are more stable.”

In the summer of 1907, the American economy was showing signs of weakness as a number of business and Wall Street brokerages went bankrupt. In October, the respected Knickerbocker Trust in New York City and the ¹Westinghouse Electric Company both failed, touching off a series of events known as the Panic of 1907.
In the wake of the initial business collapses, stock market prices plummeted and depositors made a massive run on the nation’s banks. The U.S. Treasury pumped millions of dollars into weak banks in the hope of saving them, but the string of collapsed institutions lengthened.
In a reprise of his role during the second Cleveland administration when the gold standard was under assault, J.P. Morgan acted to restore order. He summoned the leading bankers and financial experts to his home where they set up shop in his library. Over the course of the next three weeks, Morgan and his associates labored to channel money from the strong institutions to the weaker ones in an effort to keep them afloat.
The joint effort of the government and the business leaders improved conditions markedly over the course of several weeks. While the crisis passed, the finger-pointing began. Reform elements of both political parties believed that the American banking system was fundamentally flawed and needed wholesale change. Business leaders, however, held that Roosevelt’s progressive legislation had upset the natural order of the economy and the government should stop its meddling.
Following the Panic of 1907, the reform elements gradually gained the upper hand. An emerging consensus affirmed that thorough bank reform was necessary to provide badly needed currency elasticity (a major issue in the Panic) and the general soundness of the banking system. Congress responded by passing stop-gap legislation, the Aldrich-Vreeland Act (1908), until more thorough actions could be prepared.
With the passing of the Owen-Glass Federal Reserve Act of 1913, the Federal Reserve System was created. The “Fed” was designed to be flexible and responsive to the economy and independent of politics. The Fed has evolved through the years by implementing many strict checks and balances. New departments, the General Accounting Office, GAO, and the Office of Management & Budget, OMB, were created to audit the Fed and most other government departments. As a result, the American economy, and American society are more stable.
For a more detailed account of what the Panic of 1907 was and a serious case of 101 year old deja-vu, read Robert Bruner & Sean Carr’s “The Panic of 1907: Lessons Learned From the Market’s Perfect Storm

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