Monday, March 17, 2008

The boys are a bad influence on their step-father...

We are eating lunch at the Liberty Science Center today. We had just gone through the Infection Connection exhibit and were discussing sneezes and other bodily functions which led to the topic of farts. I was informed by the husband that a fart is the strongest force in the world because it can rip through your pants without leaving a hole. The boys bust out laughing and I ask where did you hear that and he points to them. We had a blast at the LSC and will probably go back but take in a movie in the IMAX theater there and try to spend an almost full day.

If you did not see the financial news wires- which have been burning up since abut 7:15 this evening- J.P. Morgan Chase is buying Bear Stearnes for a whopping $2 per share. No that is not a typo and yes it is down 97% from Friday's close. The Fed then did something it has not done since the Great Depression- it opened the discount window to non-banks. It also cut the discount rate to below the Fed funds rate. They should have done this a quarter ago. The thing that makes me nervous is that in financial near panics you need to remember that song One Is The Loneliest Number because there are sure to be other banks and bank-like institutions that are as close to the edge as Bear was.

The thing that annoys me is that my and your tax dollars are going to bail out a firm that by all rights should have gone under. through their own hubris and/or greed they got themselves into this mess. Since when did the government decide we should socialize market losses? I can think of a lot better ways to spend the money- like on education, helping single mothers, or trying to determine if Roger Clemens did use steroids and hGh- oh wait, we already spent that money...

As my boss said we are living in historic times and you should try to keep notes about it for your grandchildren or your families next generations as may be the case.

Tomorrow is a high holy day for me and the husband and my side of the family- it's St. Patrick's Day. I am third generation shanty Irish and since he now has Irish in him as well he is black Irish. He will probably come home and work and watch SciFi. I will be wearing green to the GLAAD dinner.

Saw 10,000 BC tonight. It was ok, way better than Awake (I am still pissed I will never get that hour and a half back for my life). The main star is freakin' HOT. He alone was worth the admission but I think he should have been fully naked at least once...

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