I’ve always admired Sherlock Holmes and the irrefutable logic that was intrinsic to any argument or explanation that he provided to describe a situation. So, I’ve been busy trying to marry my work world with the Victorian world of Mr. Holmes. More on that shortly.
I would like to think however, that if the good sense that prevails in a Sherlockian world, we wouldn’t have this wall street fiasco that occurring right now. It’s hard to even describe how ridiculous this whole situation is. Here we have the biggest names in investment banking who played with tons of money irresponsibly and lost it all. And now, the Feds are going to bail them out with more money ( more like $700B or trillions and trillions of dollars) and just rap them on their knuckles. And, yes, the American taxpayer is going to have to fund this? What in heaven’s name is going on? What was everybody doing?
I know that the weath distribution worldwide is something like this : about 5% of the world’s population own 85% of the world’s wealth. I’m assuming about 50% of that 5% is in North America. So, what’s the deal here? Does the fact that they own tons of money mean that they don’t need to be monitored or watched? That’s what seems to have happened?
Now, I’ll wait for a couple of weeks where market experts will analyzing the situation with statements like : “If we knew then what we know now” and all and sundry will agree. It’s a stupid world…