An Excellent Day On The Markets

February 23rd, 2009 by Jason · 3 Comments · bailout, fail, links, markets, writedowns

dowwin

- Today on Wall Street, the Dow climbed to new heights.  Wait, what?  Upside-down?  Oh.  Nevermind.  Epic, epic failing.  It’s May 1997 all over again, the last time the index saw such a number.

- Speaking of failure, AIG ran out of crack money and wants more, even though it literally cannot do anything more degrading than it already has.  Last time?  Some Requiem For A Dream stuff.  If you don’t remember, and AIG apparently does not, the company has already been lent over $150b.  The company is expected to post a Q4 loss of $60b, mostly from massive writedowns.  Sixty billion dollars, in three months.  Yep.

- Microsoft laid off a lot of employees last month, accidentally overpaid some of them, and sent letters to them saying they wanted that money back.  But then one employee posted his letter to the internets, and suddenly they get to keep the money.  The end.

3 Comments so far ↓

  • Mr Danger

    Seriously who gives a crap what the DOW is, nobody in the market uses that index. S&P = WIN, DOW = FAIL.

  • Jason

    The S&P was also fail yesterday, hitting its lowest point since April of 97, if that makes you feel any better.

  • Mr Danger

    Its all FAIL, I just want to measure the FAIL properly, and Dow FAILs at that too.

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