Lehman Brothers: Dropping like a bowling ball from a freeway overpass
While I am not surprised that Lehman Brothers is spiraling toward bankruptcy liquidation - having predicted said possibility on this blog back in March - I did not expect that Merrill Lynch would also be so quick to fall in the ever-deepening U.S. credit crisis. Yet both financial firms are among the latest casualties in the financial implosion that both major political parties would just as soon ignore.
To be honest, I spent most of the day puttering around the house on a variety of work and home projects that piled up last week. It turns out that I did not have a case of influenza, but rather a recurrent and particularly nasty case of Salmonellosis, a bug I possibly caught at Charles DeGaulle Airport in mid-August.
And then there was the whole fantasy football dealio, which gnaws at me throughout NFL Sundays.
Thus, it is with morbid curiosity that I will be watching the stock markets tomorrow. I am not one to cheer for a financial panic, but the chaos certainly makes for riveting entertainment, provided that the collapsing banks do not hold any of the retirement monies my wife and I have stashed away in the past decade.
Frankly, I'm too old to idly sit by and watch another liquidation of my life savings.