In a pie plate, beat together 1 egg, 1/2 cup milk and some salt. Put some very fine (Indian Head brand) corn meal in another pie plate and mix with some ground pepper. Dip each cleaned soft-shell crab in the egg mixture, let drain a bit and dredge in the corn meal (on both sides). Heat a large frying pan, melt butter and fry crabs 5 to 7 minutes per side. Serve immediately.
Trim fennel bulb, cutting off bottom end of bulb. Slice vertically into thin slices. Saute in olive oil on high heat. Let brown, but not burn. You may want to cover it to accelerate the cooking. Toss in some Pernod, stir quickly and serve hot.