A-Roid, and the bigger problem.

The nagging steroid controversy in major league baseball exploded this week when after a players'-union consented drug test from 2003 which was supposed to remain confidential was leaked to Sports Illustrated, Yankees second baseman Alex Rodriguez appeared on ESPN's sportscenter to admit that from 2001-2003 he regularly took "a banned substance" to enhance his performance. The purpose of the players' union's consent to the 2003 test was to demonstrate there wasn't a need for outside regulation and that steroid use was not a widespread issue. 3 other current Yankees players have already admitted to past steroid use, and once-thought future Hall of Famers Barry Bonds and Roger Clemens face mounting accusations that they have regularly doped.

I was thinking about how similar this fiasco is to the financial meltdown that came to a head in October of last year. Banks and financial institutions have insisted for the 2 decades since the savings and loan debacle, that they require no outside regulation or accountability to function. Economic philosophies arose giving praise to the free market and the self-regulation of widespread greed.

The premise of that stance, is of course that the individual institutions will regulate each others' behavior instead of cooperate and encourage fraud and cover for each other. Just like in baseball, the players' union insisted there wasn't a problem and that the minimal steroid use is confronted and managed by the individual clubhouses. But the problem was there and it wasn't being internally addressed. Rodriguez put it, "it was just the culture at the time". Economists warned for years that the pattern of trading on mortgage backed securities and selling defaulted commodities on Wall Street was a bubble, and eventually all bubbles burst. The fact emerged the same, that rather than keep each other honest, the banks, lenders, traders, appraisers, and credit agencies went to bed together. And we're now suffering the fallout of their unsanctimonious orgie of greed.

How many times do we need to see this philosophy up-ended before we realize the truth that the natural man is an ememy to God and to his fellow man? He will seek his own by competition or by cooperation, whichever offers him a higher yield of money, pleasure, and power. These are my thoughts. Except for one final one...

...Yankees suck!!!