Dow Drops 239 points ... Financials to blame..
So yesterday it was Merrill Lynch. They announced a $5.7 billion write down as a result of mortgage loans ... following $41 billion earlier. Several weeks ago it was Fannie & Freddie. Prior to that it was Bear Sterns... and so on.
Henry Paulson (US Treas. Scty.) said yesterday... "I'd rather not be in the position of asking for these extraordinary efforts..." So our Treas. Scty. has to seek "extraordinary efforts" ?!?! Shoes keep dropping, & monetary policy-makers keeps reacting to keep the train on the track.
I am growing more & more uncomfortable with the amount of intercession from our monetary policy-makers. Why do they have to intercede? Why do we need the "extraordinary efforts"? Maybe what we have here is a financial crisis ... in slow motion.
About Me
- Tom Windfelder
- I come from a family with a long history in aviation. As a result, I often use aviation imagery. I conduct a thorough “pre-flight check list” with clients before developing a solid “financial flight plan”. My process addresses current financial position, risk management, tax management, investment management, retirement planning and estate planning. Before forming TBROOKS in 2000, I was Senior VP General Manager of Kaufmann’s in Pittsburgh, (now Macy's) where I gained decades of planning experience. I conduct seminars on financial planning for corporate groups and have led many seminars on education planning. I live with my wife Carol, and our two dogs (a Lab & a Shitzu) in Mars, Pa.
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