Blogging Will Be Light Today

breaking dawn
Cause I’ve been busy reading my latest novel, Breaking Dawn, which is #1 on Amazon.com. Had it all of three days and I’m 1/4 of the way through, a feat for me as it is 754 pages long. It’s a fast-paced novel with a lot of action and surprises so I won’t give anything away. Sides spoilers abound in the reviews at Amazon.com. Don’t read them.

That and laying on an icepack all day. For some unknown reason I woke to severe pain in the low back, not the sciatica I had been having and was getting used to, but a new old pain. Sucks when it hurts all the time. Least the ice helps.

Oh and I found this amusing fact all the way down at 24.

24. There is roughly $6.84 Trillion in bank deposits. $2.60 Trillion of that is uninsured. There is only $53 billion in FDIC insurance to cover $6.84 Trillion in bank deposits. Indymac will eat up roughly $8 billion of that.

25. Of the $6.84 Trillion in bank deposits, the total cash on hand at banks is a mere $273.7 Billion. Where is the rest of the loot? The answer is in off balance sheet SIVs, imploding commercial real estate deals, Alt-A liar loans, Fannie Mae and Freddie Mac bonds, toggle bonds where debt is amazingly paid back with more debt, and all sorts of other silly (and arguably fraudulent) financial wizardry schemes that have bank and brokerage firms leveraged at 30-1 or more. Those loans cannot be paid back.

Gives one warm fuzzies doesn’t it. Yes, your money is insured but how much would you get if there were a run on all the troubled banks? Not much I’m afraid, not much. Read the whole article, very interesting precipice we be on.

I’m easily amused up to a point. There is another dead bird out front I need to take care of. Somebody’s getting good at catching them. Bad kittycat.

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