Echoes Of Subprime

"By mid-2003, as the drumbeat of criticism--and a string of investigations--intensified, there were some hints of remorse. At its annual meeting in May, J.P. Morgan Chase issued a statement saying, "We have seen far more than the usual number of serious accidents at the intersection of Wall Street and Main. And our financial institutions, including J.P. Morgan Chase, must take their share of responsibility for that." Two months later, J.P. Morgan Chase and Citigroup agreed to pay a combined $286 million for "helping to commit a fraud" on Enron's shareholders as SEC enforcement chief Stephen Cutler told reporters. The two banks also agreed to ensure that their clients who used complex financial structures account for them in ways that investors could readily understand. Investors will have to wait until the next bull market to gauge whether anything has really changed."

(The emphasis is mine.)

Reading "The Smartest Guys In The Room" this weekend was amazing. To imagine that such a business existing boggles the mind, and seems like a better warning of the current financial difficulties than the LTCM crisis was previously.

RAM discounts

As I was heading out to the suburbs today, I stopped at the RAM in Rosemont to fill up a growler for our family's holiday meal. I decided to try the Hazelnut Porter, which sounds likes a cheesy coffee flavor, but is actually a pretty decent beer.

The best part? It's only $5 to refill a growler on Fridays and Saturdays. That's less than a crappy six-pack of Miller Lite--and it will be available every day in January. So I'm definitely heading back to the RAM in January.

Natasha with Aloe

Natasha with Aloe
Originally uploaded by minvervah

A beautiful still life (well still for a cat) taken earlier today.

Barbarians At the Gate

"Why did these people care so much about what came out of their computers and so little about what came out of their factories? Why were they so intent on breaking up instead of building up? And last: what did this all have to do with doing business?"

Barbarians at the Gate was quite good--it read more like a novel than a business book. I'd recommend it.

Reading Can Be the Stuff Of Life

I see the world in terms of words because whenever I have a quiet moment, I fill it with reading. (via Rands in Repose.)

As someone who has almost been mown down by taxis while walking and reading, and often takes a path through the alley at night because the light is better to finish the next page of the book, I agree.

Peekaboo Mr. Boo

Peekaboo Mr. Boo
Originally uploaded by minvervah

This is our cat that we buried in blankets during the weekend. He's a photogenic beast, though I like the blend of color from this picture.

How To Bake Bread In a Dutch Oven And Have It Taste Totally Awesome

(A friend recently asked me for baking tips after she got a new Dutch oven. Since I bake a lot, I thought I'd pass along my experiences.)


Yes, I do bake a lot -- probably 2x a week. We've cut down how much bread
we buy because I tend to make a couple of loaves. The no-knead is how I
make all of my bread -- it makes it taste a lot better and also makes
baking a lot less work.

Here's my basic recipe. It's taken from the Mark Bittman book "How To
Cook Everything". I'm sure the library has it if you want lots and lots
of details.

3 1/2 c. flour (bread flour is better, but not necessary)
1 1/2 c. water - 2 c. water
salt
yeast - usually about 1 tsp. See below.

12 - 18 hour version
I mix the yeast, flour, and then a bunch of salt together. I then add the
water in 1/2 c. batches into the flour and just stir it all together. Use
extra water and less yeast.

Once you have a wet gooey mess (don't worry if it is gloppy, the yeast
will take care of it), set it aside in the mixing bowl to rise. It works
better if you put plastic wrap on top, but it's not required.

Let it rise for 12 hours, then punch down. Let rise again for 4 hours,
then transfer the loaf into the dutch oven and bake at 450 for 45 minutes.

4 hour version
Mix the yeast into warm water (about the temperature of bathtub water) and
give it a little boost by adding anything sugary you have handy -- jam,
maple syrup, a little molasses. No more than a teaspoon. Let it
percolate for about 5-10 mins--it will start to foam and that is good.
Use a healthy teaspoon of yeast, maybe a bit more if you are
time-constrained.

Mix the flour and salt together, then mix in the fluid. Make sure it's
gooey.

Let it rise for 2-3 hours, then punch down. Let it rise again, and then
bake at 450F in a dutch oven until it's done.

Important Tips & Tricks

- Preheat the over 20-30 mins to 450 before baking. It takes awhile for
most ovens to get decently hot.

- Make sure your dutch oven doesn't have a plastic handle -- it can melt
or smoke at 450. (I used a metal calaphon lid and it was ok.)

- you need to oil the pan to prevent the bread from getting burned to the
bottom. I usually use canola oil because it can handle the heat. It will
taste even better if you sprinkle polenta or coarse cornmeal on top of the
oil before putting the bread in -- the bread will slide out really easy
when it's all done.

- The longer you let it rise, the better it will taste, and then use
correspondingly less yeast.

- If you want whole grain bread, replace your regular flour with up to 1
1/2 c. of different flours and it should work just fine. I often mix in 1
c. of rye flour, but have also used oatmeal, whole wheat flour, or mixed
in nuts. Using lots of fruit, blueberries, and cinnamon is an option too.

- Make sure to let it cool before eating. 5 mins. is a minimum, 30 is
better.

- Don't worry too much about the ambient temperature of where it rises.
Anything over 60 should be OK, ie you don't need to put it in the oven or
anything.

- Bread tastes better with lots of salt. Taste the dough as you're mixing
it to taste the salt.

- You don't need to knead. The yeast will take care of it.

- the mixing takes 5-10 mins, and the clean-up takes the same. All in
all, the whole thing takes about 30 minutes of your time.

Here is the original inspiration. I find this recipe too fussy though.
(Seriously, who measures 1 5/8 of anything?!?) I don't preheat the pot, I
just use it myself and think that's a reasonable trade-off.

http://www.nytimes.com/2006/11/08/dining/081mrex.html

Let me know how you like it!