The stock market makes me laugh sometimes.
Right now we are in a recession. I do not care if you are against the idea of a recession, but it is here. Get over it already.
This week I have seen some pretty funny things unfold, from Eliot Spitzer to a $200 Billion dollar band aid to a $19 Billion dollar loss (from Carlyle Capital). Our Dow has had a huge upward shift upon news of the Fed injecting some money, but one day later we see the Carlyle Group default on a $21 Billion dollar fund.
Its so ridiculous. I love it.
The Carlyle Group was trading on debt at 31 times cash value. These margins and the idiot bankers who support these ridiculous valuations are all crazy. I hope these big swinging dicks get fired and go into crazy personal debt. Its just obnoxious.
Meanwhile in my week review we have AOL buying San Francisco based Bebo for $805 Million big ones. Who uses this site? The English...and the list goes dead.
Tonight I will be at the Mashable party. See you there.
Friday, March 14, 2008
Up and Down
