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Take Charge of Your Financial Stability
As Bob Dylan sang in the 1960s, "The times they
are a-changin'."
Those
words are true today when it comes to our financial markets and the
foundation they rest upon. Major financial institutions and
corporations have endured unprecedented changes in recent months.
Let's review:
Three of the five largest financial institutions on
Wall Street are gone: Bear Stearns, Merrill Lynch and Lehman
Brothers. Goldman Sachs and Morgan Stanley remain.
The two largest mortgage finance lenders, Fannie Mae
and Freddie Mac, are now government-owned. (The government offered a
bailout plan in exchange for ownership of both firms.)
AIG, one of the world's largest insurance companies,
is now government-owned. (The government provided an $85 billion
loan--and a second loan of more than $30 billion--in exchange for
controlling ownership.)
Stay tuned. There's more to come.
As this real-life economic drama unfolds, your
financial stability and success will not come from the government. It
will not come from Wall Street or other financial pundits. It will
come from you. This is truly the time where knowledge is your best
asset. These can be exciting, creative and character-building times
if you question, learn, discover and implement your own answers.
If you're waiting for someone else to bail you out,
think again. But most important, think for yourself.
For full article and more information, click
on this website: http://bit.ly/NMWa
excerpts
from Entrepreneur Magazine September 2009
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