Friday, September 19, 2008

Collapse of the Financial Market

Flat on my back with vertigo. This happens when I am tired and I spend too much time with dusty books in the stacks of libraries. I suppose this is an indication that I need to socialize more and stay out of the libraries.

Heard A'lelia Bundles, the great great granddaughter of Madame C. J. Walker, give a talk about A'lelia Walker at the Alexandria Black Resource Center on Wednesday evening. She debunked two myths: Madame C.J. Walker invented the straightening comb and A'lelia Walker spent all of the money. Look for Ms. Bundles' book about A'lelia Walker sometime next year.

Chinua Achebe will be at the Fall for the Book Festival at the Center for the Arts on the campus of George Mason University on Monday, September 22, 2008, at 7:30 p.m. I am helping to introduce Mr. Achebe, so please join us.

Still up in the air with the publisher about my book; it seems that one of the four readers' reports is recommending a massive rewrite after the reader admits that there is nothing published in African American literary studies and class. Oh well, I think that some of my colleagues treat their peers like graduate students.

The county where I work is threatening to furlough approximately 500 people, including, but not limited to police officers and fire men. Since I work for the county system, I better start watching my pennies.

The financial markets are in a mess. If you don't know this then you have really buried your head deep in the sand. But hey, why don't we march on Washington and demand that the Bush administration refinance our debt at below market rates?I mean, come on, we are productive members of the society; we get up and go to work everyday, rear our children, stay out of jail; some of us even pray on Sunday. I'd like a cool $58 billion in my bank account to ride through this recession.

I once worked in the bond market so I'm not as naieve as the above-paragraph implies. I just wonder how it is that the greed in this country is so pervasive that the greedy will collapse the whole system rather than just steal a little.

This is one reason why I left the bond industry. I was working downtown Atlanta on the legal team that was helping to structure a general obligation deal on that "black" day in October 1987 when the financial markets hit bottom. I kept waiting for folks to jump out of the windows of the Georgia Pacific Building; but guess what, there weren't any windows that would open, so we just worked all night to get the deal to market before the interest rates increased.

So we are stuck with a big hole in our economy after the junta has been in office for eight years. The Bush cartel will walk out with their pockets lined, and we will be left holding the empty bags that all of our hopes and dreams won't ever fill up.

3 comments:

E. said...

Peace...

I have always seen your stories about library discoveries a bit differently.

I think YOU DO socialize....but often it is with elders, authors, ancestors and spirits of the past or contemporaries in distant locals.

In times like these, you wonder, where are the good brothers at? The general feeling on the street, in businesses, out and about, at least here, is quite apathetic if not totally closed.

Eyes in the community are searching for signs of resources, abundance, capital and opportunity.

There's little time for the "socializing" that makes a community worthwhile.

That said, I go out of my way to create the vibe that allows people to flow despite the initial shields. I use....
silence.


The market being so boldly out of order has everyone communicating quickly, trying to get what they can each day....thinking in short terms.

It's really strange seeing affluent people panicking and losing their stuff. I've been watching this happen to the poor people in my family my whole life. These days, my people are struggling...but..they do it without the type of apocalyptic angst of others. They know how to do this...

As long as we have a roof over our head is what everybody is saying...

Just having a job these days is a sacred thing.



I think it is so much harder to march on Washington when people have 100 interests at their finger tips through the internet, MP3's, TV's, satellite radios, and Video games.
I mean, there is a Million Woman March coming up and there is no push for anyone to go to that around Detroit. People are like....for what? Or, "I got other things to do".

And along with that...too many political identities to align themselves to....

We socialize through filters. Schizolizing. Code wording.

We're not talking to each other. This is why we could allow The Bushmen from Texas to steal elections, tank surpluses, fund unjust wars, strip us of our rights and demean us through substandard public services and emergency programs.


It has become to expensive and time consuming to talk and focus our conversations to the power point of action.

We're too busy surviving in fear of being watched.

If economics inform political affiliations, then we know that the spirit of this country is gravely ill with greed because our economic system reflects how we value each other.

I'm just trying to do everything I love. And be as loving as I can to everything.

Because money may never know my name if this system can furlough brilliance.

The Donna said...

I don't know how involved you were in the planning of Mr. Achebe's speaking engagement, but do you know if it will be pod casted or available online as a live feed? I am at UGA in Athens, GA and would enjoy being able to see or hear him speak.

M. L. Simms said...

A video of Chinua Achebe's reading was made. I am still trying to obtain a copy from the persons who organized the "Fall for the Book Festival." If and when I do obtain a copy, I will upload the video onto this blog. Thanks for asking.