I ran across this great NYT article about the credit crisis, detailing some of the behind the scenes panic in the top echelons of the financial world.
In the stock market, Mr. Ehrlich of UBS was horrified by the plunge of Morgan Stanley’s shares, given the stellar earnings. “It felt like there was no ground beneath your feet,” he said. “I didn’t know where it was going to end.”
Morgan Stanley fell victim to short sellers - those who profit by betting against a stock's value.
Meeting with staff members Thursday morning as the stock plunged further — hitting a low of $11.70 midday — Mr. Mack said: “Listen. I know everybody is anxious about the stock price. I’m not selling any shares, and neither is my team. But I understand if you’re nervous and want to sell some shares.” Some did. (The company said fewer than one-third of employees sold stock that day.)
A third of the angels fell from heaven in the Great War. My theory is that it was all about XTC bills. Maybe God and the angels had built this massive pyramid scheme, and somehow it suffered a great crisis in confidence! Maybe God was off-shoring XTC production to the third (dimension) world, or something.
On a related theme, David at the House of Vader (who is channeling hot Sith Lord Realness) has officially banished all angels from his blog!
And even weirder is that we're supposed to get aliens/angels descending on/in Alabama in a few weeks! (via Todd at Through the Looking Glass).
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I meant to do that!
6 comments:
Alabama = subtle All Obama.
Cheers
Thanks for the stuff on Samuel.
Here is a video which gives you a little background on the financial (spell it right this time!) stuff: http://video.google.com/videoplay?docid=6729904244308031068&hl=en
Funny story...two weeks ago prior to Alabama playing Georgia here in Athens, a co-worker of mine had friends visiting from India, they were shocked by the fact that The Univ. of Georgia was officially supporting McCain because all the campus buses were running the message BEAT BAMA which they misunderstood to mean beat OBAMA...
Nice punning, thanks.
Jaspal - thanks for the link to the financial spell.
Todd - on a sporting level, I saw a great headline in the paper today: "Gigantic Failure!" I thought it was referring to the credit crisis, but no, it was about the loss of the Seattle Seahawks (Horus?) to the NY Giants (Nephilim, angels) 44-6 last weekend.
Cheers, Michael
I had a feeling that you'd eventually weigh in on the current financial crisis, and what you'd come up with would BLOW MY MIND.
Incidentally, I live in Brooklyn Heights, and apparently property values are still going up and up. I'll NEVER find a better apartment.
Apparently, this isn't the good kind of financial crisis!
Hi E-Grrrl, thanks. Even Kirkland is hit less hard than the rest of the country, due I suppose to the all powerful Microsoft presence. BTW, I found out Washington Irving coined the phrase "the almighty dollar".
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