I am studying for Economics CLEP Credit at night

Now that my mind is not all rotted out I decided why don’t I get some Economics CLEPS on my resume. I’ll study at night so unemployment won’t be all bent out of shape for me trying to shape up my resume on their time.

Interesting learnings indeed. At the “Intermediaries” part of the course my notes are:

“Financial intermediaries provide two important advantages to savers. First, lending through an intermediary is usually less risky than lending directly. The major reason for reduced risk is that a financial intermediary can diversify.”–Intermediaries

Just to illustrate intermediaries for myself and give my self some real vivid landmarks for understanding, I went to Dr. Housing Bubble.

“(Calculated Risk) “[The Lehman] base case assumes national home prices drop 32% peak to trough, vs. 18% to date, with California down 50% vs 27% to date.”
Ian T. Lowitt, Lehman CFO

So basically what they are saying is California is only half way there. I would go on to say that this “bold” statement is nothing more than what we and others have been preaching for years but it takes an investment bank on the point of destruction for some people to listen. Why would you be listening to an investment bank that clearly has no idea how to invest or sustain profitability? Doesn’t that kind of defeat the purpose of being an investment bank? If people wanted to lose money this quickly they might as well take a flight to Vegas and get some fun out of it in the process.”–Three Emerging Trends

Wow I never knew higher education could be so fun!


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