February 2010
February 5, 2010
A week of extremes. Monday and Tuesday nice up days, Wednesday inconclusive, Thursday dramatically down, and an afternoon rally Friday. Worries about sovreign debt (and rightly so), the recovery (is there such a thing?), and general fear of everything. In addition, of course, Congress has demonstrated that it will do nothing unless well paid by some special interest group.
What Really Happened at the Alamo
February 18, 2010
Created in the wake of the Great Depression, Chapter 9 is widely considered a last resort and filings under it are more taboo than other parts of bankruptcy code because of the resulting uncertainty for everyone from municipal employees to bondholders.
The economic slump, however, is forcing debt-laden cities, towns and smaller taxing districts throughout the U.S. to consider using Chapter 9. As their revenue declines faster than expenses, some public entities are scrambling to keep making payments on municipal bonds. And that is causing experts to worry about the safety of securities traditionally considered low risk.
The article goes on to give some examples of cities and agencies that are on the brink of going broke. Stay away. Far away.
February 21, 2010
I am so tired of hearing about Tiger Woods. He got laid a lot with different women. So what? Who cares? What else is new? CNBC even had a countdown clock for Tiger's apology like the one for the opening bell. This is a business story? Pathetic.
February 28, 2010
Well, I certainly did not do well this month. I was very conservative, and did not go into the market 100%, and in addition some of the picks just suddenly crashed as soon as I bought. Random happenings, I hope.