Summer Idle Musings

There are a lot of things to talk about in Connecticut. I just want to take a few moments and review them.

1) All global shipments of powder-blue “polo” shirts have been diverted to CT men. Yes, gentlemen, its true – Joe Banks, Brooks Bros – even Old Navy have sent all suplies to CT. If you wear them with the collar up – you will be hung by your thumbs and beaten senseless with an organic carrot. Men - you know who you are.

2) lPlaid shorts have also been diverted to CT with respect to urgent demand by men wearing shirts with upturned collars - seriously guys......

3) Leather ‘boat’ shoes that have never seen the poop deck of any boat – have also been diverted to CT.

4) “Fund” talk and shorting stock positions are now banned from all cocktail/beach-party discussions.

6) President Obama’s stimulus plan is taking a little longer to become effective than we all hoped in "Hedge Fund Land”

7) Sail boating off of CT’s shore when there is no wind in the “dog days” of August – with an awesome 3inch surf - is an interesting challenge.

8) I now live here and I love it – OK OK - my home state of Colorado is a close second.

On other fronts – it’s tuff all around – but it’s August now – the heat is great – the stock markets are up (sort of), the crickets are out , Bernie Madoff’s organization is collapsing and Danielle Steel (is she still alive?!) books are prevalent on the beaches.

And September is 2 weeks away.

Summer Days

Well - the summer heat has settled in - thank goodness.

Our bid for the African Development Bank Infrastructure Fund is pushing forward - I just wish I had as cool as set of sunglasses as Bono.

The other point is this - the Obama admin gave in way too early on the Federal Healthcare Plan - too bad - a bit more of a dust-up would have been in order - c'mon - your poll numbers are low now anyway because no one bothers to answer the polls! Roll up the sleeves and get engaged!

Having lived in England for 5 years - I can't say I am a big fan of the NHS - but neither am I a critic - it's pretty much OK.

What - do I want 'House' spending oodles of time diagnosing my symptoms? No.

But the employer-paid healthcare/insurance - have to be changed. It's just too hard to keep up.

Mr Hall

So what's the view? Award Mr. Hall $100MM and realize that the USG now thinks the oil price ramp last year was due more to speculators than real supply/demand issues - or flush.

Interesting. - I have my view.

Cash for Clunkers - invest in US banks

So here's the real question of the moment - how much do you think the US taxpayer made in the bailout of the financial institutions?

I'm a capitalist and I love it when banks make money - as long as I as a shareholder get my due for the risk - so with TARP - did we (taxpayers) just buy preferred shares in these institutions at an approx 10% p.a. fixed coupon which was then subsequently repayed with no make-whole premium nor equity kicker - oh - but we got the 6+ months coupon! So, banks may almost have been toast - US Taxpayer Calvary to the rescue and..... taxpayers get 6 months coupon and banks get mega bonuses... not to mention the $100MM trader at Citibank.

All the risk, no upside and the banks are paying themselves nice bonuses. Too big to fail.

Here's my view: If taxpayers invest and take the risk - then they should receive the reward.

That is why we call ourselves capitalists. 'Too big to fail' is a policy that should be reviewed. Seriously.