Here we are 158 years later and the "Canary in the Coal Mine" as they are so aptly or were so aptly referred to is dead! Yes, were talking about Lehman Brothers. Where does it all end ?/ The good news is Bank of America will buy Merrill Lynch by issuing stock. On the other side Goldman Sachs and Morgan -Stanley have been asked to help raise 70-75Billion to help AIG. I have to say would I love to see their Rolodex.
My dear friends all is not lost. Since my first blog "It ain't over till the fat lady sings" (She's warming her vocal chords) We have nationalized Fannie and Freddie were about to guarantee low interest loans to the automakers and give food stamps to the poor to buy organic food.
So where do the opportunities lie ? That's a great question, I've heard we have another year of pain in the financial markets before we can see any recovery. I've listened to top economics professors Nobel Prize winners and I'm more confused than I've ever been.
The challenges remain my friends as of July 1.9 million Americans were behind on their mortgage payments. 1.2million more in foreclosure. Ah the Bush years long remembered and not forgotten. What a legacy I can hardly wait until the library opens.
Carpe Diem
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