Friday, March 14, 2008

Up and Down

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.