Wednesday, March 4, 2009

Over the past few weeks the stock market continues to plunge with no end in sight. The Dow is now at 6500 down from 14,000 in Oct., 2007. I have lost a SUBSTANTIAL portion of my savings including the money form HPIM, Prizes, etc. – well over $1 million. The retrospectoscope is always right, but the fact is, I always had serious concerns about the vicissitudes of the market and always said that I would rather not lose money that try to make it since my salary + book + prizes get me a lot of money. John Katkish, who is a good man and conservative convinced me otherwise and here we are – trapped since we cannot sell now since the losses would be phenomenal. On the evening of March 4, I attended the annual Friends of Cancer Awards night reception at the Hotel Monaco on 4th and F Street, N.W. Ellen Sigal and Marlene Malek run this group and always invite me. The awardees were Steny Hoyer, Sen, Judd Gregg, Lisa Paulsen of the Motion Picture Industry Foundation and Janet Woodcock of the FDA. Usual DC glitterati of politics there. Steny was most gracious to me in accepting the award and went on about what a great man and scientist I am and how we go back so many years. He brought up (again) the story of how George H. W. Bush called me his hero in the 1988 Presidential Debates. Also, had good conversation with Sen. Gregg and told him that I respected his action of dropping out of contention for Secretary of Commerce since he felt he could not go along with the Obama fiscal policy for the “Bailout”. During the evening, go to have good conversations with Obama White House people such as Dr. Kavita Patel who is assistant to Valerie Jarrett (closest person and friend to the POTUS) and Neerha Tandem who formerly was with Hillary Clinton and is now Special Assistant to the POTUS. Both said that they would get me to do some WH briefings and briefings of the HHS Secretary designee – Gov. Kathleen Sibelius of Kansas, whom I have never met. Zeke Emanuel was there and is establishing himself at OMB as the Health policy person since there are few other people who know about health.