Monday, September 15, 2008
I used to think that sex was the most powerful non-survival drive known to man. After reading this mornings paper, I’m beginning to wonder if its really greed! The financial markets are being shaken to the core today by the demise of yet another series of financial institutions—Lehman Brothers and Merrill Lynch. These failures have come because of these institutions participation in the recent mortgage scandals and risky real estate deals. What drove these smart men and women, who make millions of dollars a year, to take on such risky investments? Probably the same thing that has driven many “regular” people to buy things on credit that they cannot really afford: Greed! Not many of us are exempt. I’m sure not, but this whole ugly mess has really made me think. I keep running across friends who are either on the verge of declaring bankruptcy or in the process. The lesson for me is to not buy things I can’t afford, not live an extravagant lifestyle, and seek to value treasure that doesn’t fade away. To listen to the commercials on TV during sporting events, the only real way to have security is to allow some of these big financial institutions to invest your money. I guess that theory has been blown to hell! Maybe this will make some more people think! What really lasts? What is really secure? What do you think? Click the comment link to the bottom right, if you have an opinion, and lets dialogue.