Yesterday my 18' Hobie SX traversed a 21 nautical mile course in less than three hours. Like me, dozens of sailboat captains hail from Orient, NY, but none of them was able to cross the annual "Spindrift" race's finish line before I did.
An out of town boat (a J105 -- about twice as long as mine) crossed 20 seconds before I did, and a 40' boat (a J122 from New Suffolk) beat me by 22 minutes.
An out of town boat (a J105 -- about twice as long as mine) crossed 20 seconds before I did, and a 40' boat (a J122 from New Suffolk) beat me by 22 minutes.
Although efficiency was not part of the race, I did well in that category: I sailed myself (as compared to five sailing each of the others) and with boat and equipment (no engine or electricity!) that is at an order-of-magnitude cheaper!
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Since we are on the topic:
“White House Eyes Bailout Funds to Aid Small Firms”
http://www.washingtonpost.com/wp-dyn/content/article/2009/07/10/AR2009071003206.html
Was the purpose of TARP to save the economy from extraordinary systematic risk, or is it some sort of general welfare fund?
If the original crisis with ‘toxic assets’ and bank undercapitalization TARP was supposed to solve still exists, why are they not directing the funds in that direction? If they consider those problems solved, why not return the funds to the public treasury?
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