Those of you who remember his rant from the start of the year, Rails is a Ghetto know that’s he’s had some bad experiences with startups. Although that rant might have led you to believe that he was unemployed, Obie Fernandez explained in a blog post (which reads like the half-hearted explanation made by someone trying to excuse his drunk friend’s violent behaviour at the party last night) that Zed “is happily employed by a major, household-name financial institution in New York City, where he comes into work everyday with a nice shirt and tie”. The problem is that the financial institution in question is even more of a household name today: it’s Bear Stearns, the biggest victim of the subprime meltdown. You can find out more on Zed’s blog (which alas, has no permalinks).