DOW 10,000

Well here we are... let's recap. Bear Stearns, Indymac, Lehman Brothers, AIG, Merrill Lynch, and now Morgan Stanley all rocked by toxic mortgage debt. Will Goldman Sachs be left as the only independent investment bank without the cushion of deposit accounts to fall back on???

I smell opportunity here... GS at 100 and GE at 20 (with 5% dividend). They are both extremely well run firms that may have the strength to weather this storm. When the dust finally settles there will emerge from the wreckage a few bright stars that had enough foresight to plan for a rainy day.

Interest rates are going down. A flight to safety has accelerated and yields on U.S. Treasury bonds have dropped fast. It is very difficult to find a safe place to stash money today other than government debt. Even money market accounts have lost value and have "broken the buck". Some money market investors are only getting back .96 cents on the $1.00. That is almost considered sacrilege in the investing world!!!!