Scribbles

Points deducted for all bankers after the recent turn of events. While I wish I could make fun of the situation with the turmoil in the financial markets, I simply cannot. For starters, my personal investments drive an interest in seeing the market trend upwards. But beyond my bottom line, so many of my good friends are right smack in the maelstrom. It’s been an awful 1.5 weeks with no apparent end in sight.

At the higher level, the story is about when should the government bailout these banks. When is there enough “systemic risk” that the Feds should step in, perhaps to prevent the next Great Depression? So far I am not happy with the lack of transparency behind the decision making. Why is it ok to bailout Bear but to let the “free market” take its course on Lehman Brothers? When has the government *ever* given out $85 billion (like it did to AIG) to a private corporation to prevent bankruptcy? How did either the Treasury Department or the Federal Reserve gain the authority to use tax-payer funds for such actions? We can debate all day about the correctness of the action to save the US and global economy without coming to a conclusion – only time will tell. But the unilateral actions of the government smell illegitimate and non-democratic to me. While most other governments in the world would have probably done the same, they tend to be more socialist or autocratic than the US claims to not be.

Though I carp about this, I still think the AIG bailout was the right move. I just hope, albeit holding a pessimistic outlook, that we tax-payers get something out of this beyond preventing a total market meltdown. I pray that the markets calm down a little and that my friends in the industry don’t suffer too harsh a fall.

Hmm… suburban life in the greater LA area is soooooo slow. The two most exciting activities of the week have been a) going to the gym and b) catching a new episode of Burn Notice. Thankfully I should be moving to downtown (somewhat a misnomer) over the next few weeks.

So to keep my mind occupied, I’ve been brainstorming ideas on how to furnish my new apartment. The bed and desk are en route from NY, but there’s still a lot more. Things like sofas, bar stools, tables, etc. I’ve spent quite the time drawing layouts, browsing furniture websites, and getting hooked on Apartment Therapy. I can now recognize a classic Eames chair and feel dirt poor at the same time. And through all this, it dawned on me that the people’s obsession with furniture, layouts, and awesome living spaces is like the porn for adults; it’s addictive and expensive. Anybody can get hooked on porn starting at adolescence, but it takes an older fogie to start thinking about designing the perfect abode. Shopping at Ikea after graduating from college doesn’t count. While the underlying drivers are similar – constant pursuit of continual self gratification – somehow this is acceptable.

Not quite the devil’s workshop, but not entirely healthy either.

This one was too good to pass up. All you MBA folks out there will love it.

Like people in the past, I have migrated to the golden coast of California in search of riches.

Ok, maybe my motivation moving to LA isn’t that commercial.  But it is driven by a healthy sense of ambition to help my company realize its true worth.  Given the nature of my role, it was possible to work remotely from NY, with the occasional transcontinental trip.  I still realized however that I would become most effective by being local.  I am honored and grateful that my business partner has been more than happy to see me around.

And speaking of people happy to see me around, they are aplenty.  It’s great to have loved ones welcome you and make the transition so much easier.  So while I miss immensely my friends and peers back in NY, I’m fully embracing the people here, the professional opportunity, and the beautiful weather.