This financial crisis has meant long days in the office for Mike.
The situation is scary enough that we moved a large amount of cash out of a money market account with a good rating. If the money market blows up, it is not insured by the FDIC, so we decided to move it into our bank account (It is a substantial part of our down payment for our house. He figures if there is a run on the bank, he wants to be the first in line! Good ratings are just not enough anymore with all of the big firms jumping into the real estate debacle. I just do not know what to think about it.
On the one hand, the companies went wild with risky and sketchy investments. Why should we have to bail them out for their indiscretion?
On the other hand, it would be catastrophic for the US economy.
So I do not know what the answer really is, but hopefully it can work itself out.
Now for something completely different!
I dreamed that I went back to the old house on Beverly, and the people living there let me in. It was partially renovated, so some original stuff that we had was there (kitchen), but other parts were different. The house had sections with cathedral ceilings (family room), and the upstairs was huge. I was suprised that they kept it partially the way we had it.
3 comments:
Funny you should mention the old house. Bryan D from high school bought his house from his mom (they're taking care of her). He's rasing his two kids there. That would be cool!
As for the rest of it. I don't think these bail outs are constitutional and as far as I'm concerned, let the investment banks fail. If we are going to be socialists, then instead of giving them 700bil, give it to the taxpayers (~500k a piece). Then we'll pay our mortgages off - problem solved.
I've said it before and I'll say it again, we need a third party and to get rid of the federal reserve. If they bail out these guys, I have grave fears that inflation will match the latest Dilbert cartoons. This is the fault of all politicians and I'm ready to go Elvis on my TV if I ever see that rat Barny Fife, er, uh Frank spewing his non-sense. Shockingly, the Bushies tried to get this one right but were too inept to over come Demoncat stupidity.
-P
And yes, I know that the arithmetic is wrong ;)
Did I tell you guys that a young family that Molly Brinkman knows is living in the Beverly house? They bought it, were transferred and sold it, and have recently re-purchased it! Last time I drove by there were kids' playthings all over - how cool is that? Mom
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