While visiting with friends last night, amidst the almost-two-year-olds in eyeglasses and the ever-curious dog, someone inevitably asked the financial advisor among us what his take was on the market turmoil.
He looked up, thought about it a moment, and said, "The best way to demonstrate what happened today is this:" He clapped his fists together and his hands bounced apart while he made a dramatic explosion noise.
I think that was his professional opinion.
He added he was glad he didn't work for Lehman Brothers.
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3 comments:
Did he mention that there were warning signs that people didn't pay attention to? Someone corrupt at the highest levels of management? I just don't understand how things like this happen but no one saw it coming, or at least, no one thought it news worthy enough to put it on Fox news until the company actually went bankrupt.
- James A.
Well, from what I've read, the Fed when watching banks in trouble tries to keep it hush-hush so there's not a run on troubled banks, making the situation worse.
He really didn't seem to want to talk about it, since I'm sure it's ALL he's hearing about at work. What a mess.
I'm glad AIG insured my Lehman brothers stock :)
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