Plenty of Bling to go around!

E-Bay already has jumped on the current financial crisis.  They have Lehman Bros. and Merrill Lynch memorabilia online right now!  Bid it up!  You can probably find CEO desk lamps and business card holders galore!  It would be fun to collect the whole set…including the t-shirts and jogging gear! 

In the meantime, AIG is busy getting all their collectibles arrayed for the ready E-Bay resale camera!  What was considered as needing a $50 Billion dollar bail-out….which included a loan by the State of New York of $20 Billion … has now grown into a minimum of $75 Billion dollars and needing another Federal Bail-out!  Even yesterday’s crash has caused Union Bank of Switzerland and a variety of other Euro and Asian Banks to drop their value by a quick 15%.  Considering that we passed 50% of our bad paper on the rest of the world…..doesn’t look good globally.  Even propping up AIG with a big govenment loan won’t help the rest of the market.  Pension funds will soon be the next global target of change.  This is now becoming a “Main Street” issue ….rather than just a few greedy Billionaires on Wall Street.

So, what to do?  It all started under Clinton, exasperated by Bush and then the 9-11 issue…and so with the great “Enron Exception” attached to the Budget of 2000 by the Congress…as they say in Kashmir: “Our graves were dug!”  Getting out of this is going to be challenging!  Cohn of Goldman-Sachs had the temerity to answer a Senator about the run up in oil as based purely on “Speculators”…..saying: “Oh, you can’t take away the Speculators!  Having a supply and demand market is a fairy tale……we need Speculators!” May his children find gruel in their dog bowls!  This is huberus…and the great joy of knowing you have a bullet proof “Platinum Parachute”!  These people need to go!  They have no solutions…other than Business as Usual!  They have been stealing so long … they think that their behavior is normal.

The market is going to adjust….the Real Estate Market will eventually stabilize….Public Pensions will eventually be restored……the day of the Money Markets is numbered…because when people see that they invest their hard earned cash in a Money Market to get 8% a year return….while their brokers use their cash to “Speculate” to make billions a year, then go belly up leaving investors empty….there may be a slight blowback!  The crash by Lehman Bros. alone, may exceed over a Trillion dollars.  We are going to lose “the biggies”….lots of big banks and oil will hopefully fall back $45 dollars a barrel.   In the meantime, which will be around until 2013…….we have serious problems!