We apologize for the late hour of the arrival of the Morrow Family Christmas Letter (MFCL). Due to reckless irresponsibility, the MFCL found itself in need of a bailout. Fortunately, at the eleventh hour, when the MFCL was on the very brink dissolution, the U.S. Treasury Department determined that the MFCL was simply too big to fail. The imminent collapse of the MFCL posed too great a threat to the enjoyment of Christmas for too many Americans. So, the government has offered us a $7 billion “bridge loan to nowhere.” We responded enthusiastically: “YES WE CAN (take your money).”‘Tis the season for big government bailouts!
In retrospect, the MFCL just got too big too fast. Like many, we fell victim to