Hasta La Creative!

Like John McCain, I don’t pretend to know much about economics; therefore, today’s news from Wall Street is somewhat mystifying to me.

In one of the most dramatic days in Wall Street’s history, Merrill Lynch agreed to sell itself on Sunday to Bank of America for roughly $50 billion to avert a deepening financial crisis, while another prominent securities firm, Lehman Brothers, filed for bankruptcy protection and hurtled toward liquidation after it failed to find a buyer.

What I do know is this: the ongoing failure of banks and investment firms will have a major impact on the rest of the economy, including a negative impact on those of us who rely on brand marketers to spend money.

Robert Paterson, President of The Renewal Consulting Group Inc. and a prolific blogger, used to be a money manager. At one point in the late 1970’s he had nearly 2 billion under management.