Who are they saying is to blame for the financial crisis??? Really???

Well, I hope you didn't take too much of a hit. I learned an interesting thing yesterday, though. It seems that Lehman Brothers who was NOT included in the bailout and were refused help by the Feds has George Bush's cousin George Walker on the executive board. (Apparently, the name George is quite popular in the family.) I can't help but wonder if that is why he refused to help them. It wasn't mentioned in the article I read, but at the same time, it was the only failing institution mentioned with a family member on the board.

Well from what I have heard from different Left hosts the Lehman Brothers was the competitors of Goldman Saks and I think we all know who use to work for them lol

You have a good perspective on your 401k. You're younger and have time yet. I'm not and others like me aren't, so we have to decide, do we save what there is or do we hope for the best. I'd prefer to save what there is and then shift it back over when things are level again. Not necessarily priced high again, but at least no longer plummeting.

Thirty one years ago, banks were told they could not discriminate against someone who was credit worthy simply because they lived or wanted to buy in an area they had "red lined". BUT, they had to be credit worthy. The same rules applied, but the banks could not use geographic areas as part of the criteria. Then came the last eight years. Certain financial institutions were told they were exempt from this law and others were given permission to merge that hadn't been permitted before making speculation on mortgages possible. The CRA was not a bad law. The elimination of being held to CRA standards WAS a bad idea. As for Democrats convincing Bush of anything - even his own party had a hard time keeping reins on him. He did want he wanted, come hell or high water. And he would never bow to Democrats if his life depended on it. That's not the GWB Way. However, the questions I asked at the end of my discussion were what I wanted to know more than anything and you didn't respond to them. Do you have money in money market or 401ks that could be effected by this and did you do anything to protect it?

There are many things that have contributed to this, and it's a combination of many things, and situations. The more we can lay aside our political differences, and finger pointing, and unify as a nation, the better off we'll be . I know that sounds impossible. But I believe we need to at least do the best we can. This situation hasn't just affected us - but the whole world. That makes me wonder if we're not seeing a 'wake up call' from the portals of Heaven - - not so much that God is in it, but that we all need to realize that the more society by their passing laws to 'get God out of the affairs' of the nations - - He is obliging us, and just letting us see how smart we are "not." I do believe if we can possiblly hold steady - - we'll see this thing turn around, but not without going through some scarry and perhaps leaner times, before we get to the better side of it. And lastly - I would ask all of you that believe in prayer - to pray for our governmental and economic leaders and advisors, that they receive wisdom and ideas to further bring a solution. And - - let's think about contacting our representatives in government about starting to teach children in school, about economics. Most kids don't know how to even balance a checking account, or write a check. Younge ones just think you can have anything you want anytime by just using the credit card and writing a check, where there's always plenty of money - right?

Hi Dan. I agree. I responded to #2 with a longer description of how I weigh the blame. I can't put percentages on it, but I do think it weighs more heavily at one end than the other.