I know Bodi didn't say that, but it's the best line in the movie. Keanu.
Jed Rakoff is my hero. Judge Rakoff gave the finger to both the SEC and Bank of America in their settlement over bonus payments to Merrill bankers after Merrill’s shotgun wedding to B of A last year. B of A agreed that their shareholders should pay $33 million as a penalty for B of A/Merrill management’s failure to adequately disclose a couple of billion dollars in bonuses that they gave themselves at the shareholders (and taxpayers) expense. B of A are the same geniuses who paid actual money for Countrywide’s piece of crap business model. Ain’t life grand?
Retail sales might show a bit of a gain this morning, but is anyone going to be surprised when they go in the tank at the next reporting? The artificial cash for clunkers spike is going to fade and that will leave the rest of the picture in the tank.
Back to Robb’s cash for clunkers good/bad/indifferent evaluation of a while ago, one thing that got touched but not adequately was the boost it gave to healthier companies (Toyota, Honda, Ford) at the expense of the ones that you and I own (GM and Chrysler). So, on our behalf, the government spent our money to consolidate the underperformance of the “assets” they’ve invested in on our behalf. WTF?
There is a stock market bubble quietly inflating. It’s sort of the last refuge of a desperate market that needs to secure huge year end bonuses. Don’t forget, it’s just as easy to foreclose on a $5mm house in Pound Ridge as it is a $150k house in SE.
So I’m excited for this last race this weekend, but the first race I’m doing starts at 7am on Sunday. Huh? It’s like a 30 minute drive to get there, then however long it takes to register, then warm up and get to the line. Sounds a lot like me getting up at what 5? Lame. In theory, I’ve still got plenty of enthusiasm to go and race. Heck, the way things are going lately all I want to do is race. But, in theory, I don’t have to be on the starting line at 7am on a Sunday morning to do it. I’m not that strong at 7am. Maybe it’s my spineless coffee addiction that does it to me. Who knows? My A #1 goal going into this year was to win a race. Any race. After the past couple of weeks I’m happy with how the season’s turned out, but I have just two more chances to accomplish that goal. One happens Sunday at 7am, the next happens immediately after. If I manage to just not screw up one or the other of them I should have all of my upgrade bases covered, in every iteration of the rule.
Serena Williams. Yeah.
Nobody puts Baby in the corner.