5 Lessons for the Next Financial Mania

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To R of AZ:
Have a little personal responsibility.
"Visa" did not put you $10k in debt, you did.
You can't blame anyone for your financial predicament other than your self. Stop looking for blame and start taking responsibility for your actions and you'll be better off.
No one is going to save you but your self. I would think at age 54 you would have figured this out.
Hope this helps.

wayne of TX 10:29AM October 04, 2008

This is one of the most honest financial articles I read. Every financial experts always aays do not panic and be calm because your stocks will eventually go up. Its good to buy on this market. Well if you keep on buying Merrill Lynch, Lehman, Bears Sterns and AIG stocks during those times that they are lying, you will never believe geniuses anymore. And now they will say look Buffet is investing. Well Buffet is not only investing, he infuses money to save those who are in the brink. His investments help but the ordinary investors investment will never be able to help the company.
I hope that someday some research must be done. While the experts say buy during a sudden market fall, we should be wary because they are actually the ones panicking and they want us to buy their investment.

DANILO Y. PONAY of 8:59AM October 04, 2008

We can get back our leaders by voting them out of office when they come up for reelection if they have not been accountible. I will be doing my research and will not vote for anyone who is wasteful of taxpayer money. I hope the FBI can get to the bottom of this and justice will prevail.

Trying to get by of NY 9:23PM October 03, 2008

Great article but I don't agree with the don't trust yourself. If people can't trust themselves to make decisions - be they right or wrong - based on the information that they have at the time, then who can they trust? You just said don't trust the CEOs, etc. so people have to take the responsibility and learn financial literacy and make the best decisions they can at the time with the information they have at the time. That means financial literacy. No longer can we or should we depend on others to make such decisions for us because you get screwed because you let someone else take charge. At the end of the day, we all have to learn to make the hard decisions or suffer the consequences. Making the hard decisions doesn't mean you won't make mistakes but it means you make the best decision you could at the time. To me that is priceless.

simone hardy of NJ 9:14PM October 03, 2008

Yeah right. I was always a cash and carry guy. NEVER used credit until after I finally got a CIS degree. I'm now 54. Back when Money Market funds were making 25-35%(the 1970's), I busted my a&* to try to scrape up $500 to get into it. No way - not if I wanted to keep my jalopy on the road. I didn't have the "magic" it took to prosper then. Now, the shell game VISA played with my account put me 10K in debt. And me still living like a high-school kid of the 70's. I figure if they can steal from me legally, I may as well buy their stocks. So I bought all I could - $5k worth. Where is it going to be for the next 5 years? In the toilet. So now, after a cash and carry life-style, living with my mother, a jalopy car, at age 54, MAYBE I can scrape $50 bucks to get my 83 year old Mom something. When do the CEO's get to face their responsibility??? F*&^k you George !!! All you people have done, is prove the commies right.

R of AZ 4:20PM September 19, 2008

BAILOUTS TO FAILOUTS: A NEWS AND VERSE EXTRA
A guide to contemporary use
BAILOUT=Rescue, by government, of important economic entity
AILOUT=Rescue of healthcare industry
ALEOUT=Rescue of Bennigan's
BALEOUT=Rescue of Columbian or Jamaican economy (see also: cotton, hay)
BRAILLEOUT=Rescue you can't see coming
DALEOUT=Rescue of NASCAR (see also: Roy Rogers)
FLAILOUT=Rescue by FEMA
FRAILOUT=Rescue of an elderly presidential candidate
GALEOUT=Rescue of Jim Cantore (see also: HAILOUT)
GRAILOUT=Rescue of Michael Palin (see also: Monty Python, Indiana Jones)
NAILOUT=Rescue of construction firm (see also: Asian salon, Press-on)
MALEOUT=Rescue of sexist political candidate
MAILOUT=Rescue by white, powdery substance (see also: FBI)
EMAILOUT=Rescue of Gov. Palin's Yahoo! account
BLACKMAILOUT=Rescue by extortion
BLACKMALEOUT=Rescue by Dem. Presidential candidate
PAILOUT=Rescue by trickle-down economics
PALEOUT=Rescue by goth
QUAYLEOUT=Rescue of any unqualified Vice-presidential candidate
SALEOUT=Rescue of pandering political campaign
SCALEOUT=Rescue of Weight Watchers (see also: America's Biggest Loser)
SHALEOUT=Rescue of oil company (see also: Gulf of Mexico, ANWR)
SNAILOUT=Any rescue involving US Postal Service
STALEOUT=Rescue of lipstick jokes (see also: Pigs, Pit Bulls, Estee Lauder)
VEILOUT=Rescue at the altar
VAILOUT=Rescue of anyone who pays $100+ to fall down a mountain
SURVEILOUT=###REDACTED BY HOMELAND SECURITY###
ZALEOUT=Rescue of cheap wedding rings
FAILOUT=Destiny of most bailouts
www.newsandverse.com
...ripped from the headlines