This picture goes well with the headline I have written above, but what I was referring to is more of the condition of the financial markets as of late. Beached, stranded and left to rot could easily describe the players and the institutions that deal in them and the industry that I am in all my career.
What are sub-prime mortgages? what are prime mortgages to start with? What is a CDS? Why would people not paying their mortgages in the US affect us? What did we do? These are all questions that people ask me and what the US congress had problems voting on. Mind you, it ain't easy to understand, let alone explain what caused the problem we are in now. Don't worry, I won't bore you in attempting at explaining. Simple answer to all these? Greed! How come all the governments that supposedly work in concert to shore up confidence by bailing companies out not do enough to stop the slide in the markets? Guess what? It's just not enough.
So what next? How do we get back to sea? You could either fix the boat which may cost more than a new boat, or just build a new one. Oh by the way, the sea has changed its familiar characteristics of old. The waves are different, the wind erratic, and you may need a bigger and better boat...
Good luck!
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