Mark (mhaithaca) wrote,

"It's the economy, stupid..."

The camping weekend got a little bit of a pall over it, with the frequent checks on the financial news. Since Stephen has worked for Lehman Brothers for years, he was understandably quite antsy about what was going on. We checked several times, and while he joked that he might not have a job Monday, I don't think any of us thought it might actually be true. Surely something would be done to preserve one of the oldest investment firms in the world.

Well, this morning's news that the company has filed for Chapter 11 protection sounded at first as though there might be a chance for them to restructure and emerge from it, but apparently financial firms don't get nearly as much leeway in Chapter 11 as most corporations do.

I've sent Stephen a txt to let him know I'm thinking about him, but I guess there's not much else to do.

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