The events the have been happening for the past month are captivating in historic proportions I would say. Within a month, the Dow basically plunged 3,000 points, a nation – Iceland – is on the brink of bankruptcy, currencies are going crazy – Rupiah is back to the point of the Asian crisis in 1997 and everyone is on panic attack.... because their account is bleeding – including mine :P – and I think everyone has the same question... how could this happen?
I didn’t know how I was supposed to react when hearing those former executives (from AIG, Lehman, Wamu, etc) just said “We’re all get caught up in the moment” as their excuses... I mean I just shook my head in disbelief... that’s it???... that’s all they can say??? No sorry... “I’m responsible for this”... I really wish somebody step up and just apologize... I mean I don’t think we can blame any particular person for this mess... and this all had happened probably because of human nature (greed)... but you approved of those bad loans... you took unbelievably big risk (I bet those executives knew what they got into in the first place but just didn’t want to admit it) and u just said “I get caught in a moment”
I even wonder where I can put my money safely now... I mean I am lucky that I am just starting my career and have a long way to go for retirement... but really can you imagine all you hard work for 30-40 years will just go away like what has happened today? What if your kids are still in college and your account just basically go 10% down every day. You’ll be scratching your head how you are going to pay your kids’ next quarter tuition.
Yep this is a bad time... but a good time to learn... lots of things to learn really
And I wish I could say over and over again... let it rain and wash all the pain away... but it won’t be that easy... Now we all know... now we all should learn... and never repeat the history again... hopefully (just a wishful thinking)
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