Just to refer back to yesterday's post- the chances of the LHC creating a black hole that devours the Earth and solves the credit crisis is 1 in 50 million. I believe that is better odds than winning the Mega Millions but don't quote me on that- but I digress...
I swam this morning and I was psyched with the time it took me to do a half mile. I am not sure I am ready for the race in October but at this point I don't care since the husband and the boss both chickened out. I just want to do it so I can say haha.
The action in the markets today made me a bit nervous. LEH had serious bad rumors swirling about it all day. This past weekend we actually met an analyst from the shop out at the beach and played cards with him. Felt bad for the guy because he is in a shit situation at work and is also trying to kick the booze habit at he same time. He seemed like a nice guy and I hope he kicks the booze habit first and foremost and hope LEH survives.
The most likely scenario from what I have heard and from talking with people smarter than me is LEH is forced into an arranged marriage, the common stock owners and preferred owners are wiped out and the senior debt holders take some kind of haircut. I have to say that makes sense to me since the first bailout (BSC) only the common holders got whacked; the second bailout (FNM and FRE) the common and preferred got wiped out; so the third and hopefully final bailout will tell everyone no holder is safe and if you expect to get bailed out you will lose all. It really is the government (led by the Treasury Secretary) forcing a risk premium back into the market that has been absent for too long.
We had Ragnar and his bf over for dinner tonight. The husband was in charge of the actual meal and I was in charge of dessert. He made this amazing pan fried black cod with salsa verde and roasted potatoes with broccoli. I made mom's hot fudge pudding cake. Everything was from scratch.
Tomorrow will be a scary/interesting day. I am starting to get concerned about my personal risk profile. But that is neither here nor there and you probably could care less, lol.
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