Liz Azul :: Feeds

To Reunion or Not to Reunion?

Welcome to a new year! Have you stayed true to your resolutions so far? If not (or if you haven’t yet come up with a stellar New Year’s resolution) try this one on for size: Reboot your style to be not who you were in 2008, but who you’re going to be in 2009. It may seem a bit materialistic, but do New Year resolutions always have to be punishing? Plus, how you present yourself reflects your confidence, passion, and ambition–is your style on hold just because it’s all that’s left in the wardrobe, or because that’s truly what you want to wear? Maybe it’s time to let go of that threadbare sweater vest from 1999 and replace it with a nicely tailored blouse from 2009. Of course, what you should hang on to and what you should let go of varies from person to person.

A test to try: The Reunion Scenario. Imagine you’re going to your recent college (or high school!) reunion. While these meet ups are all about reliving the good-ol’ days, they also embrace the inevitable growth of an individual after such a span of time. Does the new you wear the same t-shirt and jeans as you did in high school, or are you now a fashion editor and dress in outrageous pinks and oranges? Reunions embrace the past and the future, so don’t lean too far in any direction. And remember, reunions should not be about impressing everyone around you; they should be about impressing yourself with how much you’ve grown!

Snazzy Reunion Outfits: The New Confident You

Turquoise Beaded Top: BeBe, $89.00

Dark Curvy Bootcut Jeans: Gap, on sale for $52.00


Theory Women’s “Margaret” Patent Peeptoe Pumps: Bloomingdale’s, $275

Find at Smarter.com:  Shop for more beaded tops.
Discounts on bootcut jeans.
Buy peeptoe pumps.

More January Sales: My Victoria Secrets Encounter

I have been taking advantage of the January sales, as they have been quite phenomenal. Pre -Christmas I was in search of that wardrobe essential - a stylish pair of black boots. I wanted something unusual but classic at the same time. I really don’t like wearing the latest this or the latest that for the simple fact, I like individual style.

Thus my quest began. I hunted high and low for that ’special’ pair of black boots but to no avail. The regular high street range bored me to tears. The higher end designer range cost the price of a small used car, and actually had me laughing hysterically at the  suggestion that I would be prepared to pay that amount.

Sergio Rossi Boots - $4,368/small used car

So there I was sitting down, surfing the net, with my Well Connected Cousin (see The Ice Queen Cometh post) looking for pretty underwear on the Victoria Secret website. One of the last times I had shopped at Victoria Secret I was in Manhattan, with my cousin. It was raining so we ran over to Bloomingdales where I purchased a gorgeous leopard print umbrella. We then went into Victoria Secrets and I went shopping. My cousin wandered off somewhere out of the store, I suspect he wasn’t that interested in looking at ladies underwear - not on the shelf anyways. $150 later I was done and off we went back home. I then discovered that I had left my gorgeous leopard print umbrella in the umbrella bucket in Victoria Secrets. I was devastated, especially as I couldn’t go back and would be flying home to London, England. A moments silence for my lost umbrella please. Thank you.

So anyway, there I was back at Victorias Secret  - online. I made my underwear selections (we don’t have Victoria Secret here or an equivalent), I then decided to look at the footwear. Then I saw them  - my new pair of stylish black boots. It was love at first browse and I ordered them promptly. I actually called Victoria Secret to check my English shoes size, which turned out to be a US 8. The assistant was excellent (you are more thorough than us over here guys!). I placed my order and received an e-mail letting me know my order was being processed. The e-mail also let me know that it would arrive around 28th of January. However, they actually arrived on January 3rd, having been ordered on December 27th. One week exactly.

My big sister Ann Marie was there for the grand opening of my boots. Well packaged and in tact, I removed them carefully from their box. They fit perfectly and looked wonderful. My sister was astonished at the height of the heel and made me walk up and down on several surfaces to see if I would fall over or get a nose bleed. However they have a built up platform on the sole which balances out the height of the heel. I immediately found an excuse to wear them and changed my whole outfit just to do so.

The boots are quite comfortable, but they are not walking boots! The stud detail takes away any chance of them looking too ‘tarty’. I wore mine with a long black high collared coat and slick black polo neck.  I am happy!

Lace-Up Buckle Boot by Bronx at Victoria Secret: $148.99 on sale

Find at Smarter.com:  Shop for more Bronx boots.

Dress Me

What inspires your sense of style? For me, right now it's things that drape well, a summery sort of flow, romantic things and I get inspired by photos that appear drenched in sunlight. I love photo spreads, I could spend hours upon hours staring at them and soaking in their beautiful glossy feel. This is just a hint of what has been inspiring me lately, what about you?










Kind of makes you want summer...

Image Source: livejournal.com/users/fakingfashion
livejournal.com/users/modelcouture

Dressing to Hide Holiday Weight Gain

If you?re anything like me, you probably woke up this morning with a small problem. The holiday goodies from the past two weeks have quietly crept up on you and now, as you?re preparing to go back to work after a long holiday, your work pants are silently laughing, ?Ha ha! Try to zip me up NOW!?

Oops. The average person reportedly gains 7 lbs over the course of the holiday season. Not a big deal, especially to those who have New Year?s resolutions to get back on the fitness bandwagon. But what can you do in the meantime to ensure you don?t look as frumpy as you might feel in clothes that are just a tiny bit too tight?

It?s really simple ? just make some very conscious color choices as you dress each morning. Truth be told, black is a very slimming color. Dig through your wardrobe and pull out all of your cute black sweaters, tops, and pants. Alright, you don?t have to dress completely dark ? but stick to darker colors that complement your black pieces well. They?ll help you to maintain that slim look while you?re working off those extra pounds.

Examples?

Try the Red/Black Sexy Kimono Satin Jersey top. You can dress it up for work or pair it with a pair of jeans for a more casual experience. The black body/waist is perfect for adding that slimming effect to your wardrobe. Plus, it?s a steal at only $19.95!

The Microfiber Triple-Cotton Tunic is another favorite. It?s simple, stylish, and easy to care for. At only $34 you?ll be hard pressed to find such versatile piece!

Last, but not least, a pick for the men. The Presidential Microfiber Shirt is perfect for the office or a casual day around town. It comes in a variety of colors and it?s so soft even the women love it. A bargain at $69, you won?t regret adding this silky shirt to your wardrobe!

Going back to work after the holidays isn?t the end of the world, but certainly feels like it! Go back in style and no one has to know how many extra slices of cake you ate at the last holiday party. Besides, you?ll be ready for swimsuit season in no time flat!

Find at Smarter.com:  Shop for more cotton tunics.
Discounts on women’s kimono tops.
Buy men’s microfiber shirts.

Cozy Deal: Billabong Moonstruck Jacket

This jacket does not look like a typical Billabong jacket.  You actually wouldn’t even know it was Billabong at first glace.  It is not their typical sporty/surf style.  I prefer this Bogota Berry color, but it also comes in black.  It can be dressed down for a more casual look and can even be worn with over a cute party top, skinnies and knee high boots.

Billabong Moonstruck Jacket: $62.61 (Was: $89.45)

Find at Smarter.com:  Shop for more women’s jackets.
Discounts Billabong jackets.

Katy Perry

Katy Perry, the new “it” girl with her poppy hit single, “I Kissed a Girl”, has been turning many heads lately. Her dark brown hair and full red-lipsticked lips draw many parallels to Betty Boop, and Katy loves to play up the similarity with her clothing choices. While we all can’t pull it off on a daily basis (and even Katy takes a few fashion spills on the red carpet) dressing up as an iconic fashion figure every once in a while can be a blast. Follow Katy’s lead and try out some Betty Boop style with a few stylish choices:

1. High-Waisted Shorts: American Apparel, my go to store for all things bright, tight, and spandex, has the perfect high-waisted short to start a Betty Boop look. And so many options in patterns and colors, too!

2. Patterned Top: Betty Boop always wanted a top with tiny prints and a lot of va-va-va-voom.  This striped grey and white V-neck from American Apparel may be a little modest for ol’ Betty’s tastes, but it’s a safety for those feeling a little self-conscious about the shorts.

3. Red Lips: The signature of any Betty Boop look-alike is pulling off the vampy red lips. Try it in a matte finish; M.A.C. is advertising it’s Viva GLAM original in a saturated red that’s positively sumptuous. M.A.C. offers several variations in hues for Viva GLAM. Make sure you try them all out and get the one that suits your inner Boop.

Katy Perry Image Source:  seekingalpha.com

Find at Smarter.com:  Shop for more high waisted shorts.
Discounts on red lipstick.

January Sales Report: Hot News

Good morning, this is Lisa Remi reporting live from the Smarter Fashion News Desk. I have just received breaking news on the latest fashion deals and amazing January discounts.

I can confirm that the fashion site - 6pm.com has astounding bargains available right now!

These stunning ‘Oh Deer- Garbo’ shoes are now available for $46.00 reduced from $79.00 an amazing 42% reduction!

An update has just come in…there are black patent clutch bags to match with spectacular discounts!

This beautiful Adele Clutch Bag from Elliott Luca has a hefty 52% reduction dropping from $162.00 to $78.20!

This ‘Rafe New York Conduit Flap’ Clutch bag is now $101.20 reduced from $199.00, a whopping discount of 49%!

This is unbelievable! Christin Micheals Apple Jeans are now $107.20 plummeting from$199.00! An enormous 46% reduction.

Extraordinary news coming in - you can purchase your summer dresses early and make substantial savings all at the same time!

This beautiful black Kat Dress from Matix Clothing Company is now $27.60 reduced from $50.00. A knockout  44% discount

Keep tuning in for more January sales and hot news.

This is Lisa Remi signing off, wishing you happy bargain hunting!

Find at Smarter.com:  Shop for more Elliot Luca handbags.
Discounts on Christin Micheals jeans.
Buy Rafe New York handbags.

Holiday Parades

If you’re from New England, you’re used to traveling into the city and participating in mandatory spirited parades–the Patriots, the Eagles, the Giants, the Sox, etc. For me, it was the Mummers on New Year’s Day. The problem always is…what do you wear to a parade? You want to dress the part of a fan, but you also want to look sharp in case you take refuge in a bar or restaurant. First things first, especially in New England, you want to be WARM. So here are some tips for the holiday outdoors:

1. Boots: You want some thick boots which will keep you above the street debris (a.k.a. beer cans and trash) and will also keep you nice and toasty.

Bloomingdale’s L.A.M.B. boots

2. Pants. Don’t even attempt to wear leggings or a dress with tights. You will not be happy.
Straight-leg Jeans from Gap

3. Bomber Hats. They’re so cute, and sooo warm!
Bomber Hat

Find at Smarter.com:  Shop for more L.A.M.B. boots.
Discounts on women’s straight leg jeans.
Buy bomber hats.

There's something about the girl

There's something about the girls at Garance Dore. Maybe it's their fresh faces, their glowing skin, their always inspiring looks, or their gazing eyes. I love street-style blogs, because we're not looking at people who dress to the nines everyday in clothes that cost more than they should. We're simply looking at people with their own taste, their own style, just living their lives, who happened to be caught on camera and shown to the world.








Image Source: Garance Dore

Happy New Year from Smarter Fashion!

May you stay fabulous, fashionable and healthy in 2009!

Pass The Bubbly Please

Ah. The New Year is upon us - where did the time go? One more reason to celebrate with friends and loved ones, and one more reason to dress up and look fabulous. I'm sure you have all found your dresses already but I just passed by the store window of BCBG the other day. BCBG has always attracted me, there is something simple and ethereal about their dresses, and their cutting (for me at least, is superb).

Their dresses make you feel almost old hollywood glam or simply modern chic. I know they're rather simple, definitely something you've seen before, but talk about excellent draping! I don't know, there's something about them that makes me fall in love.

Love the velvet bodice of this dress!

This dress is actually much more beautiful in person.

Aughhh...I need to get this - look at that sleeve detail!

So simple, so lovely (especially the colour). Hm, I will advise you not to wear a headband that the model demonstrates...

Ok, kind of generic I know, princess cut blah blah blah. But the material! And a colour that would look great on all skin tones.

What are you doing for New Year's? &equally important, what will you be wearing?

Happy-You Year

2009 is nigh underway. This crossover time is when we all privately carry out a mental inventory of the highs and lows of the past year. For many of us 2008 presented us with more lows than expected and far less highs. The spector of the Credit Crunch, crunched it’s way into our lives, our homes, our families, our joy.

This global economic crisis has pervaded our consciousness. Even to the extent of how we see ourselves.  For those of us who possess the malady of social short sightedness - those who equate their financial status with who they are, who measure their self worth in dollars and cents, pounds and pennies, shares and bonds  - this is the worst of times.

After the Christmas binge, looking in the mirror to assess the damage, may be an even more painful exercise this year. So dear reader, it’s time to lighten up. So what if you gained a few pounds over Christmas, but didn’t you have fun gaining it? Wasn’t the turkey succulent? The frosting on the cake oh so sweet? Well then! We’ve all had to face a bit of gloom in the past year, why add to it?  Relax.

I don’t believe in making New Year’s resolutions. I believe in making lifetime resolutions, being on a journey of continuous self improvement and achievement. A journey of learning to love myself more, like myself more and give more of myself to others. Working towards a more content, peaceful, whole, happier me. So far, so good. Hence the title. Let 2009 be a year of loving yourself more, liking yourself more. Stop trying to emulate the emaciated airbrushed illusions on the magazine covers and start emulating yourself. There is only one of you and you’re wonderful.

Invest in a ‘pet’ scarf, colorful and cozy, something that makes you feel happy and warm every time you wear it.

These soft and mushy scarves from The Spirit if The Andes are just the trick! The Ana Scarf ($27.74) pictured below is made from pure Alpaca, available in a variety of delicate, rainbow shades.

Why not celebrate yourself with a Funky Bear?  He comes with his own designer hoodie, in a range of colors, and a personalized message.  Don’t be afraid to have something like “I am cute!” printed on the front, why not?

I’m thinking of getting one and buying a hoodie to match!  Click the link to order your FunkyBear from FunkyBears.com.

Keeping to the cozy theme, there is nothing I like more than wearing a pair of cozy bed socks and snuggling up in bed

These wool bed socks, $26.28 from The Wool Company are ideal.

What can be more fulfilling than making a fashion purchase and giving to charity at the same time. Give more of yourself. Gap Red offers you this perfect opportunity when you purchase any item from the site. Half the proceeds go straight to the Global Fund, to help fight against Aids and HIV in Africa. Some major fashion labels have also come aboard to help. Visit the ‘Learn’ page to find out more

Finally, take a read of Susie Orbach’s latest book, entitled Bodies. Orbach discusses the issues that contribute to women feeling inferior about their physical appearance. Available in various bookstores and online, $10.58.

Find at Smarter.com:  Shop for more women’s scarves.
Discounts on women’s socks.

Clutch Deal: Babee D Simply Black Handbag

Tomorrow is New Year’s Eve!  Time to say ‘good-bye’ to a bittersweet 2008.  Time to bring new essential fashion pieces into your wardrobe for 2009.  You can start with this simple black clutch.  It’s super light and can be worn with casual or dressy attire.

Babee D Simply Black Clutch Handbag: $79.99 (Was: $165)

Find at Smarter.com:  Shop fore more Babee D handbags.
Discounts on black clutch handbags.

Good Golly Boots!

I found (and purchased) two pairs of boots this weekend.

Yes, two.

They are comfortable ... and I love, love, love them.

Steve Madden - Legion


INC Brook Riding Boot - mine are chocolate brown and aren't so shiny.


Oh sales how I love thee.

Avoiding Fake UGG Boots

Not to beat a dead horse, but I?m back on the subject of UGG boots again this week. Quite a few people I know were thrilled to death to find a pair of comfy UGGs under the Christmas tree this past week and I?m happy to welcome them on to the bandwagon. Others, however, were simply jealous and immediately began hunting for the best bargains around so that they could run out and buy their own.

WARNING: UGG boot shopping without any knowledge of UGG lore can be incredibly dangerous. You simply can?t run out to the nearest department store with only a hope and a prayer. Those who haphazardly take up the art of UGG boot shopping are quickly disappointed when they get home and realize they?ve been tricked into buying fakes.

Fakes? Yes! Fake UGG boots do exist. They look like UGGs (sometimes they?re even uglier). They feel like UGGs (the beauty of synthetic materials and mass production). They?re even priced like real UGGS. Wait ? that?s not fair!

Here are a few things to look out for as you browse your nearest UGG retail store in search of post-holiday discounts:

• Are the boots cheap or expensive? As much as we?d like to find UGG boots for under $100, it?s just not going to happen. If you?re getting ready to pay $12, $20, or $50 for a pair of UGGs you need to think again. They?re probably not real.

• For online shoppers, are your UGGs listed as ?sheepskin boots? or merely ?sheepskin lined?? If they?re only ?lined? then the wool inside will probably be fake, meaning it won?t be thermal, keep your feet warm, or keep the boots from stinking after a few weeks of wear.

• Do the boots have an authentic ?UGG Australia? label on the back of each heel? If not, they?re not real UGG brand boots.

There are a few other things to consider, but these are the most important. I?d hate to see you run out and waste all of your holiday cash on a pair of boots that aren?t what you thought they would be. Every good girl deserves a pair of UGG boots ? it?s just nicer to know that they?re actually REAL!

Next week we?ll move onto something new and exciting. Until then, enjoy the rest of your holiday celebrations and have a great time ringing in the New Year!

Find at Smarter.com:  Real Ugg boots.

Merry Christmas To All, and To All A Goodnight

Merry Christmas everyone! We hope you had a wonderful evening and a beautiful day! Were in good company with family and friends, wrapped up warm - or dressed downright cool! - with good food, wherever you are!

This spread instantly made me want to layer up with colours and scarves - I actually decided that I had too much black in my closet! Is that even possible? Love the fresh faces and the braided hair. What wonderful winter inspiration - take the look of fall and bring with you into winter, enough of the dull greys and the generic black. I can't believe I just said that.







Image source: Elle Italy by David Burton

Shoe Deal: BCBGirls Lornas Pump

There are only seven more days left in 2008!  Time flies!  In order to inspire a bright 2009, I suggest sporting some bright colored pumps in January.  These cherrywood pumps are “winter bright”, super stylish and would work for just about every occasion.  They also come in black for those who love everything black.

BCBGirls Lornas Pump: $60.47 (Was: $109.95)

Find at Smarter.com:  Shop for more BCBG Girls shoes.
Discounts on women’s pumps.

Happy Christmukkah!

Something to drool over on this special day....Yes, I'm in love with red pumps! But just to add some variety, these are not Louboutins (remember the Turkey day pumps?), but from Stuart Weitzman. Dear Santa.....

Happy Christmukkah everyone!

Psst! I heard Bloomies is having a big sale on the 26th!

Image Source: Bloomies

Merry Christmas from Smarter Fashion!

We hope you all have a safe Christmas and enjoy your time with friends and family!

Image Source:  finalfashion.ca

Foreign Fresh

During the holidays, with all the travel, and the food, and the lack of exercise, we begin to feel a little stuffy. Too much turkey stuffing maybe? Christmas pudding pies got you down? Fill yourself with happy thoughts of healthier plates and cleaner arteries with clean-cut, stylish fashion.

Some looks to get you thinking:

Gap Ruffled White Blouse: a new, feminine take on the traditional white long-sleeve button down.

Gray Cardigan with Ribbon: While we all try to avoid tight belts around our middles while stuffing our faces with third helpings of apple pie, maybe a light ribbon will give us a little reminder that salads are good, too?

Dove Gray Pants: White is a little too risky, but how do we feel about off-white, or a beautiful dove gray? Pair it with a black long sleeve t-shirt and you’ll stand out in comparison to all the black pants/ white shirts in the crowd.

*Use coupon code TUESDAYS by 12/31/08 to take 20% off your order at Gap.com.

Find at Smarter.com:  Shop for more ruffled blouses.
Discounts on women’s cardigan sweaters.
Buy women’s gray pants.

Dress Deal: Gabriella Rocha Studio Addy

Do you know what you’re going to wear on New Year’s Eve? Do you even know what you’re doing New Year’s Eve? This baby doll dress would make for a pretty cute New Year’s Eve party dress if you shnaz it up with some hot accessories.  It also come in a pretty olive color which I think looks particularly good on naturally tan skin.

Gabriella Rocha Studio Addy: $49.50 (Was: $55)

Find on Smarter.com:   Shop for more Gabriella Rocha dresses.
Discounts on women’s baby doll dresses.

The Ice Queen Cometh

My ultra cool, well connected cousin from New York, has invited me on a trip to Sweden, where we will be staying in an ambassador’s house. My cousin through his good schooling, has rubbed shoulders with celebrities and such like for many of his 25 years. However, he seems totally unimpressed and underwhelmed by it all. He has driven his younger brother David and I to distraction when he ‘forgets’ to tell us that he went to a party and discussed basketball with Denzel Washington, has been invited to Paris to stay with one of his old college friends, whose father,  lives next door to Johnny Depp. He never bothered to mention that he was invited to meet Beyonce by Jay Z at their house. He has just returned from Isabella Rosselini’s house in Paris, invited by her glamorous daughter Electra. He is ever so blase about visiting the Hamptons whenever he goes.

Well I finally had enough and demanded that I be invited along somewhere or else! So we’re off to Sweden in the New Year. Now I know this trip does not necessarily involve meeting any Hollywood stars or even Johnny Depp, but I’m working on it. At least I will be staying in plush surroundings.  I also realize that at sub zero temperatures I have very little fashion scope to try and look glam. So I have decided that my only glam option is jewelery. Even if I am wrapped up in warm clothing to my eyeballs, I am hoping that these following pieces will help me twinkle a little bit!

Sterling Silver Star Earrings from Monaco, $117.59

Filligree Earrings, $17.82

I will definitely look the part in this icy Charm Bracelet, handmade in Greece:

You can find all of these wonderful gems at Farfallina.

Find at Smarter.com:  Shop for more star earrings.
Discounts on filligree earrings.
Buy charm bracelets.

Scented

I indulge in perfume. I tend to put too much on and think nothing of it. I'm a dedicated and committed wearer of four scents, all of which are used in a rotational manner, depending on mood, weather, clothes and/or occasion. They are much more than just the fantastic four.

My first ever - must wear all the time - is this discontinued line of Ines De La Fressange. After all, she was Lagerfeld's muse.


I found this a couple of years ago - extremely fitting for Spring or Fall. Roger & Gallet Bouquet Imperial


Something fresh after a hot shower, or light for a summer day I wear Baby Bench. What's that? Yes, a perfume for babies. Not really a perfume actually, scented water? I have no idea, but it smells damn good AND it's made in the Philippines! Subtle and soft.


And last, but certainly not least, Marc Jacobs' Daisy. Divine. Long lasting, beautiful!


What's your scent?

UGG Boots - Love ‘em or Hate ‘em

Here?s the deal. They say you either love UGG boots or you hate them, but there?s really no middle ground. I?ve found, thus far, that most of the people who claim to hate them are making their decision based solely on aesthetics. I completely agree, by the way ? the design of the boot is devastatingly ugly, but once you slip your feet inside those fuzzy atrocities you?ll quickly understand why they?re so popular.

It?s all in the wool. Merino wool is one of the highest qualities of wool in the world and Australia is responsible for almost 50% of the world?s production of this particular type. Merino sheep aren?t raised for food, so their wool is softer. The wool also has a unique fiber density which gives it the durable and thermal qualities we?ve come to expect from UGGs.

Wool has natural thermal tendencies, meaning they can keep your feet warm in temperatures as low as 30 degrees below Fahrenheit. On the other hand, wool is naturally breathable and can keep your feet cool in temperatures as warm as 80 degrees Fahrenheit. In short, those surfers wearing UGG boots aren?t as stupid as some might think. They?re keeping their feet warm after leaving the water but won?t end up sweating to death because the boots are breathable!

There are, of course, cheap alternatives to the authentic UGG boot brands, but they?re made of synthetic materials instead of real Merino wool. That means you?ll end up with a pretty (ugly) boot, but you won?t be nearly as warm as you would have been had you coughed up the cash for an authentic pair.

They?re warm. They?re soft. They?re comfortable. Those are the reasons I give for now having a pair of UGG boots in my closet. I cringed, at first, but the sharp black pair of classic short boots go great with jeans or the nicer slacks I wear to work or when I go out. I do not, however, tuck my jeans into my boots. That?s a fashion decision you?ll have to make for yourself!

Find at Smarter.com:  Shop for affordable women’s Ugg boots.
Discounts on men’s Ugg boots.

Ctrl BG: A Shortcut to Financial News 12/21

After MUCH drama, the fall of the auto industry in the US has finally been avoided- at least temporarily anyway. In the end, Bush signed over $17.4 to Chrysler and GM on Friday in return for non voting warrants and more oversight on executive pay etc. In the end, they made a full circle and the money will be coming from the TARP fund, which brings up the really intriguing question of whether the government has opened the pandora box and now other industries will be lining up to get a share of the rest of the TARP fund. Paulson has already asked Congress to release the rest of the $350 billion TARP fund early, when just a few days ago he said that it will not be necessary. Just when we thought we figured out how the TARP is going to work, they change their minds. This does not bode well for the government, because it makes them look like they have no idea what they're doing. Maybe they don't! On the other hand, the wider purpose of TARP is to support the financial market stability, and I daresay, it will probably not be very stable if the auto industry went bankrupt!

On the sidelines, the Madoff scandal continues to unfold, revealing many influential individuals exposed to this fraud. The S&P cut the rating of 11 US and EU banks, including Bank of America, Barclays Bank, Citibank, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase Bank, Morgan Stanley, Royal Bank of Scotland, UBS and Wells Fargo Bank. I guess if ratings must be cut, at least there is safety in numbers. What are you going to do when everyone goes down?

Outside of the States, it looks like the land of chocolate and waffles is not doing very well. Belgium's attempt to bailout Fortis got frozen as Prime Minister Yves Leterme tendered his resignation after having reportedly politically meddling to sway a court ruling. Apparently this is the third time their government collapsed. I had no idea.