The financial markets are shrinking by the second and as everything unravels, it takes an extreme optimist to see the daylight.
Times are tough. Everyone is stressed up and in a foul mood because markets are clearly down and circumstances have driven us into a corner. The stress pimples are exploding and tempers are flaring.
I've already seen one round, and this is already a second round, only much worse.
Top 5 US investment banks - No 5 Bear Sterns got a bailout. No 4 Lehman Brothers filed for bankruptcy. No 3 Merrill Lynch sold itself to Bank of America.
News just in - Morgan Stanley approached Citi to merge but was rejected, and is now in the midst of selling a larger stake to China Investment Corp. If Goldman Sachs goes next, I seriously don't know what will happen.
With everyone so stressed up, one of my colleagues psycho-ed all of us to stop working and attend BC class at 8 plus. At least we all let off some steam...
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