Two recent headlines encapsulate the current financial wreck—the mortgage crisis that has ensnared the markets across the globe and may threaten the economy of the entire world: OVER THEIR HEADS: Small Investors, Too, Get Nailed by Arcane Trades —The Wall Street Journal, August 14, 2007 INVESTORS MULL HOW TO GET OUT OF HEDGE FUNDS: Market Turmoil Highlights Notoriously Tricky Rules for Redeeming Shares. —The Wall Street Journal, August 15, 2007 The words “over their heads” and “tricky” caught my attention. Investors are being hosed these days by Wall Street sharpies that have come up with highly complex, tricky and incomprehensible schemes that are over everyone’s head—including those that dreamed them
Absolute courage in the face of absolute adversity Sept. 13, 2005--Vol. 1, Issue #30 IN THE NEWS Philadelphia Park starter Russell "Rusty" Downes will face "internal disciplinary and economic sanctions" after leaving a filly behind the starting gate in Monday's Pennsylvania Oaks. Downes, 65, has dispatched runners from the gate for 35 years at numerous tracks but had never left one behind until Private Gift was ignored while five other runners were sent on their way in the $100,000 stakes race. --Craig Donnelly "Penalty is promised after big error at gate"