Old Bike Rider

Yesterday morning I rode 26 miles on my bike for RIDE CINCINNATI (that's me in the above photo). RIDE CINCINNATI is a bike ride to raise money for breast cancer research at the Barrett Cancer Center at the University of Cincinnati. I spoken briefly with the founder of the ride, Dr. Harvey Harris, and he said that they had 1,600 riders participate in the ride this year. This was the 3rd year for RIDE CINCINNATI. I want to thank everyone that donated money to my team, a team of one, this year.

This week, I may not get around to writing a lot about the economy as I usually do on MONEYTHOUGHTS. While I was riding Sunday morning, a close friend of many years, lost his brother to cancer early Sunday morning. I also knew his brother for at least 60 years.

The Obama administration is supposed to be coming out soon with new regulations for the banking and investment industry. It will be interesting to see what steps are being taken to see to it that we do not make the same mistakes again. Regulation, oversight, auditing, transparency and enforcement are all aspects of a good system, and we need and deserve a good system to protect borrowers and investors in the 21st century.

Stay tune.