In The News

Ok, the news has been pretty bad lately.

Lehman Brothers going under, Merrill Lynch gets bought out by BofA, WaMu looks like they're going down and AIG is in big trouble as well.

Wall Street has been rocked to its very core and the financial landscape may never look the same. Those aren't necessarily my words, but that's what the likes of Bloomberg, CNN, and Reuters have been saying.

It also looks like the government rescue packages made available to Fannie and Freddie (stupid names) will not be offered to Lehman or WaMu and I for one think this is a very good thing.

Whether or not these firms simply aren't well connected enough or have been deemed too small to save it's nice to see the Fed let the market play out like it was meant to and refrain from throwing more taxpayer money at the problem. That would do nothing more than perpetuate the moral hazard that created the credit crisis in the first place.

Of course this does not mean there wont be more money tossed to the auto industry or some other business entity that the government feels we cannot do without, but for now there's a few billion dollars that won't be added to the national deficit.

Not that letting companies die is a good thing. Jobs are at stake. Jobs held by people who had nothing to do with the bad decisions made by upper management. Having once held a job that became a casualty of poor decision making at the top I can unequivocally say that the whole experience sucks a fat dick. I feel for these people.

Yes, it looks bleak, but I am here to tell you in the immortal words of Douglas Adams: Don't Panic.

It's been worse. Heck the early 80's featured the same kind of stagflation and falling real estate values we have today,but with double digit interest rates and even higher unemployment. Things are going to come around again like they always do.


I know that's not cheering you up, but there are actually a few good news items that are sure to do the trick.



1. Sirius Satellite Radio has launched an all AC/DC channel. It's only for a "Limited time" but let's enjoy it while it lasts. No, I don't have Sirius either, but a guy at work does and he's cranking the AC/DC channel all day long. Cool.

2. Palermo thoroughly dominated AS Roma on Saturday. Rome came out, scored early, and made it look like it was going to be a yawner. Palermo refused to roll over and fired back with three goals while making the game the most enjoyable soccer match I have watched this year. I can tell...you're smiling already.

3. That new Metallica album is pretty darned good.

4. If you live in the Houston area, you probably have the day off. Go do something fun!

5. A bad economy is good for Obama. I don't know who I am voting for yet, but I am sure that both of the people who read this blog are hardcore dems so.... Yay you!

6. Back to AIG. I hope they pull through this, but I think they are going to need to cut way back to do it. All unnecessary spending must be eliminated, starting with sponsorships. Specifically sports sponsorships. Specifically their sponsorship of The Evil Empire. Yes, I am referring to the agglomeration of vile cunts known to the world as Manchester United. Any development that results in the loss of funds for Sir Alex Fuckerson and his gang of soccer playing doucheballs is great news in my book. Sure they've probably barely even blown through the massive wad of cash they got for winning The Champions League, but still......every little bit counts and in this case we could be talking about 14 million pounds a year.


So buck up, little camper!


Things are pretty sunshiny if you look at them right.