As I sit at my desk to write this article this week I’m a most happy man. For the first time in many months I can pass on to my few dedicated readers news that reflects a positive impact upon our economic future.
I realize that I may be jumping the gun, but what could be bad about giving news that portrays hope for the future of our children, as well as our own struggling generation? It was reported last Thursday that Citibank, JP Morgan Chase and Wells Fargo have showed a profit in their
operations in January and February. It is also written that other banks may follow suit. The profitable numbers are not large, but the principal they represent is enormous. True, the pessimist may say, because they are loaning money they borrowed from the government at a rate lower than they are lending it, and are only retaining the difference? So what, they do that during good times, but their risk factor now is almost nil. A profit’s a profit, brother. Do you also see a little light at the end of the tunnel? I do!
Now for some more fun from my Wall Street connection, Judge Mort Swick of Chicago, is the news that the Wall Street Journal has expanded their website to include recommendations of winners of daily sports events. Alas, could this revelation be fact, I thought? I didn’t think they even had a sports page. Well, I had to check this out, and sure enough I was astonished to read that they printed a tout sheet encompassing every game the day I saw it in pro and college basketball. Offended at first that the hard working guys at GamingToday had perhaps taken a back seat to this new competition, I checked out their six pro selections for Tuesday night, and found only one winner. I’ve always believed that you shouldn’t play another guy’s game, and in this case I was right on. I reserve the right that I may begin selecting stocks for our readers. There are many similarities between brokers and guys like me. One difference is they wear ties and we wear golf shirts. At any rate, Eileen, relax, the Wall Street Journal will not hurt our circulation, and based on last Tuesday’s results it may increase it.
Does it get any better than the quarterfinal game between Connecticut and Syracuse? It took six OT periods as dog Syracuse ended the marathon with a gut wrenching 127-117 victory. In an unusual twist Syracuse never had the lead throughout five OT periods. It was an incredible contest.
Here are some selections for the first round of the big dance.
Memphis -19: Coach Calapari keeps his regulars in regardless of the score.
Maryland +1: the Terps play in a better league against better teams than Cal does.
Texas A&M +2 ½: If the Aggies can defense the three’s that BYU will put up, this should be no contest. Without an inside game BYU will have a tough time.
Gonzaga -13: this tournament seasoned club should have a laugher here, as Akron is just happy to make the tourney.
Tennessee -3: this may be a shootout, as quite a few points will get on the board. The Vols have great athletic players, and should wear down Okie State in the second half.
Marquette -7: this team has a 3-guard offense that presses and pushes for 40 minutes. Utah State will have a tough time keeping up.
Have a great week!