We have been looking at Fay and stuff for so long, we’ve missed out on some big stories! So, let’s catch up, shall we? First off, many of you may have seen Ron Insana. He was one of those journalists that go on tv who act like experts; instead of just reporting the news, he thought he knew how to do better. So, he quit CNBC, left the financial desk and decided to start a hedge fund. But this one was going to be different. It was a hedge fund that invested in other hedge funds. Now, this was a loser from the get go. Not only did hte market tank, but also the invester was paying so much in fees that it would be very difficult to make very much money. There was the big fee for Insana’s fund and then the fee for every fund that the Insana fund invested in. So, the fund failed. Here’s the story about the humbled journalist.
To keep on the financial side of things…former Fed Chairman Alan Greenspan has been running around offereing his opinion on everything. People take it as Gospel and he is given all of this credit for the economy during his tenure as the Chairman of the Federal Reserve. One thing that for certain that was not his fault was that for most of his tenure, he had oil prices that were very low…sometimes very VERY low. In fact, he had to deal with something that I thought I would never see in my lifetime again, disinflation. Anyway, since he left, the new Chairman, Ben Bernake has had a lot on his plate. Finally, the little boy has said that the emperor has no clothes. Here is an essay that suggests that many of the woes today are a result of the actions or inaction of Alan Greenspan…not George W. Bush.
And finally….in Germany some time ago, a guy digging around found some old bones. Turns out that they belonged to a caveman. The bones were so well preserved that they could provide DNA for testing. Then someone got the bright idea to test the townsfolk to find out if any of them might be related to the caveman. If that were to be the case, that would mean that from the beginning of time, the family would not have moved from the same spot. They may have saved themselves trouble by simply finding the most boring man in town. But instead, they went and swabbed people’s cheeks and to everyone’s amazement, two people in the town were determined to be direct descendants of the cave man. The pair had no idea they they were related and both can now claim to have the worlds biggest family tree. Wonder if they like Ogg on Cocoa Crispies or have that car insurance with the stupid commercials. Here’s the story: