Maybe Old People Do Do It Right (I just said doodoo)

Considering all the crap that has been going on in the financial industry I thought I should comment on what might help.  First, let me say that I find it hard to believe that we are rewarding behavior in this country that is clearly irresponsible, meaning the making of "bad" loans, on both sides.  But to bail them out. If they were allowed to go under, the consumer/investor would demand better lending standards and the gov't wouldn't have to over see them.  Now we have the government with 80% ownership in AIG.  When the gov't owns business isn't there a name for that? hum...  Letting these guys go under might be a hard pill to swallow but it might be the cure we need.  Let the market do it.

I think my mom may have it right.  You see, ever since I was a boy I can remember her with these envelopes that she would use to handle her finances.  She still does it to this day.  I make fun of her but I think if more people would do it we wouldn't see people unable to save a few hundred bucks in a years time.    

When she wants to purchase something or has a bill to be paid she takes a bank envelope and starts puttin' money in.  Once it goes in it doesn't come for anything.  Not a bottle of coke, nail extensions, ringtones (or better yet ringback tones) or anything else.  She doesn't take on a debt unless she is able to get enough in the envelope before she buys it.  I don't know how many times I asked for something as a kid only to be told that there wasn't enough in the envelope or that she would have to start an envelope for what ever it was I thought I had to have.  Most of the time my envelope went to the bottom of the list of ones to get infusions of cash.  How dare her to not indulge my ever desire.  Didn't she know that kids are the ones in charge.  

E Toro Negro