Yesterday, in a surprising turn of events, the House of Representatives turned down the proposed $700 billion bank rescue plan. This in turn, caused the Dow Jones market to go into free-fall, accumulating the largest one-day drop in a couple-odd decades. Markets around the world reacted, mostly in sympathy, with the U.S. market, racking up [...]

Another large financial institution has been brought low by the troubles of Wall Street. Last night, the FDIC stepped in and took over Washington Mutual (WaMu) after it determined that the nation’s largest savings and loan wasn’t going to be able to remain solvent. JPMorgan/Chase then ’swooped’ in and bought the banking portion of WaMu [...]

My sister-in-law died a couple of weeks ago. She was the same age as my wife. My wife actually introduced her to my brother-in-law while they were in high school together. Her death was sudden and fairly unexpected. Needless to say, it’s hit all the family hard, and in different ways.
My wife hadn’t been particularly [...]

Thank goodness that last week is over with. What with one major investment bank, Lehman Brothers, disappearing (or two, if you consider the merger between Bank of America and Merrill Lynch, for $50 Billion dollars, arranged over a weekend!) along with a thousand-point roller coaster ride in the DOW, causing other world indexes to follow [...]