In the midst of an allegedly sketchy takeover, down-and-out lending Goliath Bear Stearns maintains it was a lack of investor confidence and not a dearth of funds that caused the firm's liquidity pool to drop almost $20 billion, a plummet that prompted JP Morgan to step in two weeks ago.
Perhaps BS (a fitting acronym) took a cue from president Bush's Feb. 28 press conference during which he denied that America was in a recession. Where, then, did the idea come from? Who was the scoundrel that first whispered the nasty "R" word?
New York City hot dog and tropical juice vendor Gray's Papaya, that's who. And they didn't just say it, they put it in neon lights. In fact, I had a special just the other day (two hot dogs and a papaya juice for $3.50), and it was so delicious I decided that if this is what recessions are all about—stimulus packages, hot dog discounts—count me in.
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