Happy Chinese New Year!

Happy Chinese New Year, readers! I feel like I should check in with you all, although my mind is a bit full of asset-backed securities, tour planning, and wondering why Citibank was even THINKING of buying a $50 million dollar luxury jet. I mean, really!

As President Obama has been living his first 100 days - gosh it's hard to buck history, huh? President Roosevelt started it and now no one will let the President shake this designated introductory time period -- I have been starting my own 100 days. As I said I would (even as early as last May!), I started a job search this month. I decided to start my search by looking here in Europe. I would love to extend my time here in a wage-earning capacity. This is not a slam dunk, however, for a few reasons. One, the economy. There is a big recession going down here in Europe, too. Two, my lack of a work visa. The European Union is pretty high on giving its own jobs, so a company would have to go to the mat, as it were, to hire me (they would have to assert that there is no other European out there that fits the job as well as me - well, of course it would be true!). Third, my language skills. I am fluent in English, have conversational skills in French. That's pretty limiting for looking for a job in Europe. My efforts have to be focused in places where I might have a fighting chance - at the moment, that looks like London, Monaco, Zurich, and, perhaps, Paris. But, hey, I have Wharton classmates all through Europe, unknown contacts that may pop up here and there, you know, by just starting a conversation. And then, of course, there is the Internet.

If you have any ideas of people/companies for me to talk to, send them along! My resume is certainly available for review.

I have said that if my job search here doesn't produce anything by the summer, I will frolic here in the Cote d'Azur for a few more months before heading back to the States and job hunting there, with the hopes that by the third quarter of 2009, the job situation has started to improve.

My calendar is already starting to fill up with visits from friends, but here are a few great reasons to visit the south of France in the months ahead:

February - Carnaval. Two weeks of parades and amusements leading up to Mardi Gras, this year on February 24th.
May - The Formula Grand Prix in Monaco.
July - The Tour de France. This year the race begins in Monaco, on July 4th. On July 5th, the race starts in Monaco and goes through Nice on its way to Brignoles, along the coast.

And then all the other festivals around the Cote d'Azur in between. The weather starts to get nice in February - I'm told winter is almost over here - so it just gets better from here on out. My parents will be here for Carnaval; you can look forward to photos and descriptions of the over 125-year-old event event in Nice at the end of next month.

My absorption in asset-backed securities this week was related to the drafting of an article with my friend in Washington that will give an outline for how to begin valuing the subprime market, now that it's considered valueless. Most people have thrown up their hands at the whole mess, but we have an opinion of how to really get at the bottom of the heap and start figuring it out. I'll post the article here when it's closer to done. It's got some nice pictures for those who like visual aids, like me.

And, of course, I'm watching the economic news, because I'm as interested as everyone else what President Obama and his team will do next. I liked the Huffington Blog headline regarding the Citibank jet purchase: FIX IT. That apparently was someone on Obama's team telling the Citigroup team to do something about the report that they were purchasing a multimillion dollar jet - "with seating for 12." For heaven's sake, guys, didn't you learn anything from the Big Three car executives?

My former SEC colleague is encouraging me to apply to work in the government, to contribute my expertise and elbow grease to the new administration, specifically with respect to the world of securities, no surprise. It's just going to be hard to give up this wonderful vacation I'm having.

To my friends in the freezing East Coast, hang in there. Or, get on a plane and come sit by the edge of the Mediterranean! The extra bed is waiting for you.

Cheers.