This and That....

Democrats ask Automakers to prepare a plan in 12 days that describes how they will spend the aid money and what steps they will take to take the auto industry out of this mess.
My view: I think that the auto industry needs to be saved. The entire detroit and michigan area depends on them and everyone will be bankrupt. By providing aid to the industry, the govt is not only saving these companies but also its employees and hence the small businesses and the people

On another note: the rate at which the stock market is spirallying down is really scaring me now. My portfolio is at 50% loss. Though I am not much bothered about teh portfolio( well, it will get back to green, in maybe 5 years??) , i am concerned about the panic it is creating in the market. There are layoffs everywhere. The job market has practically frozen (esp in the tri state area) and teh jobless claims is at a 16 year high. Citi has announced layoffs of 53000 people. Freaking 50000. How will they run that mammoth of a company? JPMorgan is about to layoff 10% of its IB division. There is mayhem everywhere.

And in these moments, a feeble mind turns towards solace. Listen to this and I promise you it will bring a smile on your lips.Interview With God


My Moment of Zen today :
Today I went to a popular Thai restaurent, Village for lunch. Usually the place is crowded and has a minimum 30 mins waiting period. Today, the place was empty. We were the only ones in teh restaurent , that too at 12:30 which is when all the employees from the sveral corporate buildings go out for lunch. The reason is obvious. Most of these buildings are running at 50% (or less?) capacity nowdays and many have started packing there lunch from home ( the refrigerator on my floor is full). This is what is called as the trickle effect. When the "greedy" corporates go bust, its not only the employees who suffer but all the several small business owners who depend on them. And that is why I think the 700$+ billion bailout is neccessary - because its not only bailing out the corporates but all the people in turn.
Update: The senate has just passed a "extened" jobless benefit bill that will benefit those who have been jobless for more than 7 weeks. I wonder how much the US treasary is worth :D