
The new Dragon Dictation app for the iPhone is incredibly impressive. It even understands my strange foreign accent. You want proof? Well here it is. This post was dictated
"As hard as it is to believe, bankers who are living on the Upper East Side making $2 or $3 million a year have set up a life for themselves in which they are also at zero at the end of the year with credit cards and mortgage bills that are inescapable," said Holly Peterson, the author of an Upper East Side novel of manners, The Manny, and the daughter of Peter G. Peterson, a founder of the equity firm the Blackstone Group. "Five hundred thousand dollars means taking their kids out of private school and selling their home in a fire sale."Apparently rich bankers also spend lots of money on designer clothes, big houses, and fancy cars. I mean, they're practically broke but for their stock options, property portfolios, and other valuable assets. And it's not like they caused the current financial shitstorm, is it?
Stone cold: The recession isn't bothering Rolling Stone founder Jann Wenner, at least in his personal life. He's busy skiing at his multi-million dollar home in Sun Valley, Idaho on his annual prolonged winter ski holiday. But that doesn't mean the minions at Wenner Media are being spared. About 10 people were axed so far this week, including the head of production, Lou Terracciano, hired only six months ago, and more are expected to go today, insiders are saying. Men's Journal is expected to be particularly hard-hit.And then there's this article in the Telegraph on the financial problems faced by billionaire publisher and businessman Anthony O'Reilly. After outlining "the parlous state of the Independent, the flagship newspaper, which is losing between £12 million and £14 million a year," the normally business-friendly Torygraph dares to point out that:
"The [Independent News & Media] group's five senior directors were paid a total of £7.97 million, including bonuses and pensions last year, with Sir Anthony receiving £2.2 million – a 20 per cent rise on last year. However, the board has approved large-scale redundancies as a cost-cutting measure."Of course, both these examples have something in common: they're media stories. Publishing companies are suffering acutely in these hard times, and rival publications seem to be taking particular relish in turning on each other like starving dogs. But what of Wall Street?
The disease manifested itself almost everywhere at once, but the superficial effects were most spectacular in our national mirror: the Media, which absorbed and digested the once proud opposition of the Press and made of it a mere legitimizer of horrors. The self-refuting absurdity of the Bush presidency, with its pretensions to manufacture an imperial reality, parallels the rise of the aggressively oxymoronic genre of “Reality Television,” with all its unintentional ironies. Among so-called news programming, Fox’s “Fair and Balanced: We Report, You Decide” is of a piece with Anderson Cooper’s “Keeping Them Honest” ... More perniciously, the self-importance with which the quality newspapers fawned on George W. Bush and his retainers in the decisive years after September 11, 2001, particularly in the months leading up to the invasion of Iraq, bears comparison with the bitter satires of G. K. Chesterton and Evelyn Waugh.Put in this context, Obama's election victory didn't represent the final death knell for satire (as so many commentators seem to think) but the opposite, a day when the world become slightly less ridiculous. If nothing else, the inauguration on January 20 will mean humorists finally having to put some effort into lampooning the president, rather than just pointing and laughing like they can just now.