I swam a half mile this morning and then hit the bike for 9 miles. The best part of the bike ride was watching the boxing class in front of me, specifically the hot guy in the class. Loved when he was doing squat thrusts...
To the point I made earlier about how no economic plan that I am aware of has ever created millions of jobs in an instant; there was an article in the WSJ this morning describing how the infrastructure projects that we need and have been heralded as saviours of our economy are hitting "road blocks." I quote: "A typical paving project- easy roadwork- takes close to three months from the time the money is approved to the arrival of work boots on the ground..." There is no quick fix.
IF you think AIG bonuses are an outrage- which I do- that does not justify a politician grandstanding saying the executives who received them (under legally binding contracts in place before this blow up) should return them or commit suicide. Which is also a good segue into what counter parties were most at risk if AIG failed. The first chunk of the bailout went to the various counter parties who legally required more collateral. What is most surprising is that 60 of the ten largest recipients were foreign financial institutions. I think there will be more political grandstanding on this issue soon but more importantly it tells a very important story- all the European banks are big fat liars. They all say they have no problems and think if they ignore them they will just take care of themselves. It could also explain why the USD is doing so well- because it really is the least offensive smelling piece of shit out there and we are way ahead of the Europeans in admitting to the problem.
Not to make light of a very sad situation but I just want to quash any rumors that I was the one who ran into Natasha Richardson in Tremblant. I read the story and apparently she was taking a private lesson with an instructor and not wearing a helmet. She fell and must have suffered a head trauma. The instructor and the ski patrol told her several times she needed to see a doctor. It appears she refused treatment, an hour later was taken to a hospital. The last I read she was being taken off life support. It should bring to home to anyone who skis or snowboards you really should wear a helmet.
We had dinner with Ragnar and Umberto this evening. They are doing well and Ragnar is excited to be my guide for the Black Party this Saturday.
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