Bank failures

There's been a bit of a financial meltdown as of late. It won't affect you if you're in a commercial bank with a savings or checking account that is FDIC insured. Lately we've seen Lehman and Wachovia fall apart in relatively short order. I think the next banks that may be in trouble are Fidelity and Soveriegn. I can't tell you what to do in these times, but I can tell you I will be moving into a cash position. I don't agree with the points on the bailout, and I know without it the markets will implode. But I still believe a massive correction will be better for us in the long run than blowing through $700billion. But unlike the last Great Depression, we are now in a globalized electronic economy. What does this mean? It means we'll be able to weather this storm much better than in the past. We have the infrastructure and mechanics to allow healthy companies to leverage their books to grow stronger, and absorb the weak. It's going to happen on a global scale... we won't be left to carry this burden alone in the US. Just understand, that in the coming 12-24 months, cash will be king. If you don't have any, you're going to be in trouble. If you have it, hold onto it until a clear path identifies itself. Until then, don't speculate on the market... you can't afford to right now.