BLOOD IN THE WATER

Please forgive me for not shedding any tears for the bloated banker boys who missed their tee times at the summer links this week-- Unable to sell-off a stockpile of loans has many of these GQ types stuck at the office sifting worthless paper while the rumor mill challenges their sanity-- The LBO craze has suddenly and precipitously cratered and with it goes doomed banker fees while the year end bonus balloon gyrates wildly out of the stratus-sphere until the hissing air abates and its wilting dance touches down at ground zero-- Fear is the only darkness, Grasshopper!!!--

And on Wall Street, off over 700 points from last weeks' record high, there is plenty of Darkness to go around-- Financial Alchemy run amok and now, in the aftermath, for all, a volatile feast of consequence amidst developing doom-- The mergers and acquisitions as well as the ease of leveraged buyouts and the stock buyback boom that has provided the drive behind Wall Streets record breaking rally can no longer find the finance to support these mega-deals-- Panic and fear in abundance not to mention a little savage anger from those whose home-ownership bubble had its pipe-dream pulled out from under it-- Foreclosure does strange things to certain people-- Word on The Street is guillotines are being sharpened--

Many of the hundreds of thousands of people who sought the easy money of financial careers and the wonderful futures offered by the Service economy, now sound rather shocked and disconsolate with the Housing markets nationwide collapsing into ever deeper troughs-- New Home sales dropped nearly 7% in June to a five month low triply worse than those ubiquitous experts had predicted-- Expect the major lay-offs in the financial services sector to wonder where all the jobs have gone-- While sub-prime credit prey were gulled by Greenspan's ARM army before being stabbed in the back by predictable rises in mortgage rates, all the jobs which may have facilitated on-time mortgage payments were being exported to cheap labor venues beyond the American Dream-- If the Dollar is/was the glue holding our disparate America together, prepare for separation and its attendant trouble-- The power centers are weak, indulgent, complacent, and, yes, quite dumb-- Chaos is now emergent!!!--