Sub-prime and buyout blues

Last year, the sub-prime crisis had hit the US home mortgage sector. Around one year has passed since the term came into fad. A lot of articles have been written, a lot of gyan dispersed on the topic. Even I have had some fun with the sub-prime buzzword. But now it seems the circle has been completed. After Bear Stearns collapsed in March this year, it was the turn of the venerable Lehman Brothers to find a similar fate. However there were no takers for the institutions. BoA has agreed to buy Merill Lynch, so such saviour for LB. The financial crisis which we made a lot of fun of last year has come back to haunt us. Though the financial sector has been the worst hit, there will definitely be a trickle down effect in other functions, IT, marketing etc.

The financial system seemed to be in a dire need of a catharsis and recent events seem to have helped in the cleansing. Now it remains to be seen whether the ruins of the financial sector can be cleared in a few months time or is it time to sit at home wondering what to do with an MBA degree? My optimistic (naive ?) self says that the rubble will clear. So it is time to be prepared. It is time to fire up all cylinders, even if there seems to be no road ahead.