There once was a Man from Nantucket...

Before I start today's post I'd like to thank Susan K. for the suggestion of "Do Over" used in the June 21st post and Beth S. for today's word "Nantucket". Please keep sending me your suggestions.

Now back to our regularly scheduled posting.

My first thought with the word Nantucket is the little Limerick that we all know so well:

There once was a man from Nantucket

Who kept all his cash in a bucket

But his daughter, named Nan,

Ran away with a man

And as for the bucket, Nantucket. (Nan-took-it)

(Keep your mind out of the gutter people .... ) This 1924 limerick spawned similar ditties with the following towns; Pawtucket, Manhasset, Juneau and Cape Ann. If you have time on your hands and decide you have to know what happened to Ol' Nan, I recommend you go to Yesterday's Island at the following link --> here.

However the current condition of bank balance sheets and the word of the day reminds me of a large oil spill 25 nautical miles off of the coast of Nantucket. On December 17, 1975, the tanker Argo Merchant ran aground and spilled 7.7 million barrels of heating oil when it broke apart 4 days later. It was later determined the two helmsmen were unqualified and they had broken equipment. Sound familiar?

Bank balance sheet detox can be compared to cleaning the oil spill with a large leaky bucket while the oil burns on the high seas. Moreover, the captain (i.e. bank and other portfolio managers) complains to the clean up crew (i.e. the government) that the oil still has economic value and shouldn't be removed. The Financial Accounting Securities Board, supposedly to define the cost of the clean up like the EPA, agreed with the ship's captain and ruled only the oil already burnt will be counted towards the loss.

What we need is a Super Hero to help us in our time of need and improv provides!

Politically Correct Person: Oh my religious unspecified higher power! The Bank Balance Sheets are filled with toxic assets! I need help as collaboration and diversity will solve any problem! Calling Optimist Womyn!

Optimist Womyn: Don't worry PCP! I've informed our Government, who is always ready to help in a quick, decisive, economically efficient manner, of the situation. They are ready for change and have prepared programs with catchy acronyms to help! However, the Feds need more assistance and I've called Super Special Interest Man!!!

Politically Correct Person: Don't you mean Super Special Interest Person?

Optimist Womyn: Of course. Super Special Interest Person to the Rescue!!!

Super Special Interest Person: I've solved the problem! My policy proposal will make my constituents ...err... fellow tax payers money but it will usher in a new era of fiscal responsibility driven by self-interest ...err...umm... patriotic duty to the United States of America. My work here is done.

Optimist Womyn: A new day has arrived! We are saved! I can go and paint happy faces on my 401K statements!

Politically Correct Person: It's amazing what we can do when a diverse group put their heads together and create beautiful solutions.

Improv to the rescue!

Hope to hear your comments soon!