One-liner of the day comes (natch) from Tim
To be fair to Stan O’Neal, when he promised in December that Merrill
Lynch’s $1.3 billion acquisition of subprime mortgage lender First Franklin
would provide “revenue velocity”, he didn’t explicitly state
whether those increasingly rapid revenues would be positive or negative.
He’s equally nice to Hank Paulson:
Comparisons between Indonesia and South Korea on the one hand, and North
America on the other, are obviously unfair. Investors are queuing up to invest
into Asia. Notwithstanding the recent flood of foreign investment, we are
a long way from the end game there. Less so for the US, whose currency is
being dumped by legions of investors in favour of euros, shares, oil and gold.
Not to worry, though: US Treasury Secretary reminded investors last week that
the United States is committed to a strong dollar policy. He just didn’t
say whose dollar.
I’m thinking I should go back and insert the word "Canadian" before
the word "dollars" in my employment contract. The loonie’s worth $1.06
today, and I don’t think it’ll go back below parity for the foreseeable future.