Wednesday, March 17, 2010

La Raison d'Être

Believe it or not, there are blogs about the reasons to start a blog. Surprisingly, "because you're important and everybody should know what you think" is not on that list.

It is for just such reasons that I've hesitated for years in starting my own. I worked for a very large bank throughout the financial crisis (albeit not in a decision-marking role) and remember well the bloodbath of the equity markets into the close each day. I remember colleagues with bruised tailbones after working twenty-plus hour days through the thick of the Lehman bankruptcy. We worked hard, because we genuinely believed that we were keeping the system from collapse, each playing our part.

Through open brainstorming with friends over the years, I was one of the few that saw the crisis coming. Within weeks after the string of corporate bankruptcies in the fall of 2008, I had put together an alternate bailout package addressing the structural problems America was facing, as well as what I felt were the most cost-efficient solutions to our problems.

I sent them to many members of Congress, as well as many Senators, Republican and Democrat alike. Everything fell on deaf ears.

Over subsequent months, I found friends and family to be fearful of the future, desperately needing a framework by which to make things make sense. It is out of these conversations that this blog is born. It seeks to be both forward- and backward-looking. It will contain a compilation of current events, pertinent reads and my personal commentary.

It is my hope that through this readers will have a resource that helps them understand what they've been through, what is really going on in financial markets, and what they can expect going forward.

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