Wednesday, March 19, 2008


March has not been a good month for me for many reasons.

First, as expected (at least for the most part), I was not able to avoid the axe on Wall Street. Anyone with half a clue who has been following the capital markets since last summer understands the situation, understands that things have only gotten worse, especially over the last 45-60 days. I worked in the commercial real estate space (private market dispositions) so I have had a front row seat to the mess that has become of attempting to finance real estate transactions, especially via Wall Street, where spreads for loans that will be pooled into commercial mortgage backed securities are probably 1% to 2% higher than what life companies can lend at (i.e. a 9% mortgage vs. a 7% mortgage).

I am not too worried, as the package I'm receiving on my way out will hold me over for a while. In addition, as I come from a commercial real estate background, as opposed to an investment banking or financing background, I am starting to look for opportunities on the investing side of the business and my skill set fits in very well there. The job market's a bit soft but I'm seeing potential opportunities.

Second, my wife and I were expecting and she miscarried. Even if she was in the very early stages (7 weeks or so), it never makes the news easy to handle, especially after people have been told the good news. Going back and giving people the bad news is akin to rubbing salt in a wound (not as much to me but certainly my wife). Shit happens.

My overall mood has been good, but my motivation to write has been a bit tempered. My energies have been focused elsewhere and my mind is not on the plethora of topics I have started to write about but never found the will to finish (i.e. FISA/PAA idiocy, Spitzer and prostitution, foreign policy, law, etc. etc.). I do intend to keep this going but for now I have some matters to tend to.

I'll keep my one and a half readers updated. :)