Thoughts for a Wednesday Night

1. Auto Bailout.

The auto bailout will be a total, unmitigated disaster. A sinkhole. A massive waste of taxpayer money. I understand that the Democrats are beholden to the unions but why would Bush and the Republicans support such an incredibly stupid plan, the virtual nationalization of the US auto industry. The auto companies need to file for bankruptcy and get rid of their union contracts. The government needs to let up on the emmission controls that have chocked the industry and provide the DIP loan to help the auto companies restructure in a sustainable way.

2. Black China.

I spent a good part of two days this week meeting with bankers from what we used to call Red China but now refer to simply as China. What struck me was that all the men wore solid black suits (not grey, not blue, not pinstriped) and all the woman wore black suits. For a while I thought I was in Lakewood.

(I also found it amusing that the bankers were going to Woodbury Common to shop directly after our last meeting).

3. Senior Moment.

My firm put on a seminar yesterday about debt exchanges (Don't ask). A woman in the industry whom I've known for 15 years sat down next to me. While I haven't worked with her in years, I did once work very closely with her. I spent the better part of the seminar trying to remember her name. After 25 minutes I remembered her first name; by the end, I got the first part of her last name, "Long...". I never did get the rest of her name until we exchanged business cards at the end of the seminar.