Wall Street 101 by VDH

I like Victor David Hanson. He seems to speak common sense no matter what he's writing about.

His recent article on the Wall Street debacle is really good. (Read the whole article here.)

"How odd that all those boring lessons from our grandparents turn out to be true in the globalized, hip 21st century: Save your money. Don’t borrow what you can’t pay back. Look first at a man’s character, not his degrees. And if a promised return on an investment seems too good to be true, it probably is."

He says that they're plenty of blame to go around (speculators, politicians, mis-managed companies, and unqualified buyers). How does this affect me? Our retirement accounts have taken a big hit, but other than that we're mostly okay. Why? Because we don't have any loans that we shouldn't and because we try to save as much as we can and not live above our means (of course our savings would be better off if I didn't have a purse habit and Matt didn't have a car habit).