So, my first week of MBA classes at Kellogg is done, and I can now say for certainty that the next two and a half years are going to kick my ass. Work, Strategy and Accounting classes, a house to keep up, and most importantly family time (login required) are pretty much destined to suck my remaining free time.Â So expect even less posting for a while.
Granted they have the best part-time MBA program in the country, but it was a definite shock to have a mandatory all-day leadership seminar on the first Saturday after classes started. I guess I’m about 10 years out of practice.
Subprime just got the ball rolling. The resulting credit crunch, and recent commercial paper (which is where money markets invest) interruption hasn’t helped. If Warren Buffet believes that Paulson’s TARP will prevent a meltdown and subsequent bank run, I say go for it. After all, anyone who has turned a 15 fold profit over the last 18 years must know more than other folks. If only I had a $135,000 to buy a share.
Granted, scrapping the entire banking system and replacing it would be a better solution, but I’ll take what I can get for now. Plus, if the Treasury values the toxic CDOs appropriately, taxpayers may eventually actually profit from the deal, similar to how the RTC did after the S&L crisis in the 80’s.
Yes, I like Wikipedia links.