I hope this isn’t the beginning of something awful.
Usually my view of the economy is somewhat selfish. I’m a not a major investor, but I would like to see at least some short-term signs of hope for the companies I invest in… especially the company I both work and invest in. At most, I’m annoyed with the fear that has surrounded the economy since the Bear Stearns collapse. Even if the concerns are rational, you must forgive me. You don’t know how many times a week I am asked about Morgan Stanley’s FDIC and SIPC insurance limits.
But this? Something out of the movies. I guess I shouldn’t use that cliche like it’s an indicator of something special. Just last week we saw seniors standing in line outside of IndyMac Federal Bank trying to withdraw their money from their failed institution in a late 2000′s recreation of the famous scene from “It’s a Wonderful Life.”
I guess truth is stranger and more sobering than fiction. The idea of a human being deciding to end her life over a house boggles my mind. Hearing that SunTrust Bank (perhaps power-drunk from the decision to foreclose on Scott Storch’s multi-million dollar home) sold $1B in Coca-Cola is less relevant, but equally bizarre.
Are things really that bad?
I sure hope not. I just spent $20 washing my car.
