mardi 16 septembre 2008

Trader Crackers


When cracker-barrel talk over 3.2 billion dollars of pledges to
avert collapsing loans due to spiraling real estate prices and
long term capital management needing refinancing to make up for
depreciation became so loud that nobody could hear each other

We wonder why is it that sub-prime lenders offering no money down to buy
million dollar neo-colonials
(It's true, why should a bank question a client's credit rating if he or she
has his eyes on a 17 room 9 bedroom 3 bathroom estate?)


Which in turn drives up prices, interest rates, hedge funds and those ever so sturdy
benchmark marks when the market goes for the $Big Dip$
Ok, it's time to take a breath amidst the electronic billions that are colliding and
jetsoned to all corners of the universe with the click of a mouse
But suddenly the investors leave the market and go for and extended incognito
sojourn
crack brained and crack downed
Now the market's sinking 2.96%
Some are tapping their last lines of credit
others are quick-stepping to their banks to withdraw their savings or what's left
Still short term investors on a lunch break
exhibit that volatile dislocation smirk
While a veteran sandwich preparer wonders
"what does this mean for my 401K and what does this mean
for my wife's retirement fund?"
"Pull it out, pull out!" yells an extenuated floor trader in a clinging white shirt
bracing cell phone, blackberry, and two leafy orders in his trembling hands
"Getting out, getting it back" yells another just beside

So for you over 60 the news of a collapsed market only translates into a couple more years
of work and
a sizeable cut -a 20 footer instead of 60- regarding that pleasure craft that you were planning to buy for that
sunny, untainted, day.
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