How the Wall Street Mess is like a Car Wreck

I've been thinking about this whole, big mess with the big Wall Street firms and how they say the credit markets are seized up and all. It reminds me of a car wreck on the infamous Washington Beltway. I would be driving down the road (with thousands of other motorists) and there would be a wreck on the other side of the Beltway. It might be a small, fender-bender or a full-fledged blood and guts Med Evac helicopter type wreck. Doesn't matter. People slow down and "rubber neck". But, in the end, they pick up speed and keep on going.

I guess there is some sort of macabre interest in other people's misfortune that causes us to slow down and look. It's kind of the same thing on Wall Street. Here are these big banker types who were supposed to be soooo smart and sophisticated and now they really screwed up. But, for me, it doesn't matter that much. Why? I planned ahead a little and have enough money to cover my mortgage and my other living expenses. About a year ago, my wife and I made a conscious decision to get out of debt and stay out of debt which meant no car payments and no credit card payments.

I also have a few years to go before I "retire" (whatever that is?) so I know that the stock market will come roaring back. It always has and if the Government doesn't figure out a way to hand off a lot of my tax dollars to the Wall Street fat cats, I'm sure the Wall Streeters will figure out another way. You see, this is just the easiest way out for them. They screwed up and now they want Big Brother to come to the rescue. Never mind they wanted Big Brother to stay the heck out of the way while the money was rolling in.

But just like a real parent (or Big Brother) who administers some "tough love" if the Government just holds their ground and continues to remember there's an election coming up, I'm sure the "private sector" (somewhat of an oxymoron nowadays) will figure it out.

I'm not convinced it's the end of the world or that the sky is falling. It's more like a car wreck. Bad? Yes. Unfortunate? Yes. Uncomfortbale consequences? Yes.

But we''ll get through it.