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Saturday, January 26, 2008

Bad News

It's been a rough couple of weeks. Firstly the sidewalk booty has been at a minimum, this may be because of the time of year though I have not got enough data history to determine if the rate of cash drop is seasonal. In the last couple of weeks I only have a couple of penny finds to my credit. (40° 43' 05.78"N, 74° 02' 04.50"W) and (40° 43' 08.75"N, 74° 02' 05.71"W).

Secondly the French Bank SocGen had a fraudulent trader rack up a $7.1Billion loss, and during the liquidation of their position they pushed Stock markets around the world down 5%. With the U.S. economy looking weak the Federal Reserve Chairman Bernanke blinked and slashed the Fed Funds rate by 0.75%. All this has led to a drop in the interest rate I will receive once I have got the required 50 cents to deposit, but at this rate of finding interest rates may be on the rise again by then!

-Luke Sidewalker
-Current balance: $0.13


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