Random Thoughts on financial markets the past few days

• Glad to hear Rush finally acknowledge that bailouts are a bad thing ... this after being among the chorus of people praising the high level of home ownership a few years ago. Iwonder if that will bump his error rate to 1.4%.


• At one time, I worked for EDS on a project related to Washington Mutual. When the project ended, our office closed -- my sympathies go out to the EDS employees who have now lost their jobs due to the HP merger. Anyway, prior to the office closure, I was attempting to get hired on at WaMu's Boca office, along with several other employees who, essentially, transferred over. At the time, I felt slighted by managers who had transferred over and chosen not to hire me -- now, I am grateful they thought less of me. My sympathies go out to all the employees, in Boca and elsewhere, who face losing their jobs at WaMu. I hope things work out for the best.


• Glad to hear Savage bring up the name Elliot Spitzer. It had occurred to me yesterday that the current New York Attorney General was strangely silent on this whole crisis -- this would be a great opportunity to make a name for himself, the way Spitzer did a few years back, prosecuting executives. I mean, I'm glad he's investigating short-sellers... it just seems there are bigger fish to fry. I guess partisan politics are playing a role in who gets prosecuted during this election cycle?


• Years ago, we did a parody about John Ashcroft being coronated King of the U.S. (Ed. Note: Overall, he was a benevolent King. Check out DailySkew Year One, page 125, for the start of the parody madness!). It appears that Hank Paulson has taken up the mantle -- call him King Paulson.