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SAVE YOURSELF!

Got a letter from my State Senator, Tom Duane.

Don't get me wrong, I think Tom is a great guy. But the correspondence I received from him hit me the wrong way.

Apparently, the Senator is hosting a couple of forums -- one on Thursday, July 17, 2008, and another on July 24, 2008 -- to educate his constituents on how to "budget, invest and save."

Featured speakers will include representatives from the Office of the New York State Comptroller (Thomas DiNapoli), Office of New York State Attorney General Andrew Cuomo, and Alliance for Financial Literacy.

The event's co-sponsors are: Congressmembers Maloney and Nadler, Manhattan Borough President Scott Stinger, Assemblymembers Bing, Gottfried, Rosenthal, City Council Speaker Christine Quinn, and Councilmembers Brewer, Garodnick, Gerson and Mendez.

Aren't these some of the same people that can't balance our local, state and federal budgets?

There is much to learn!

Posted by Lucas A. Ferrara, Esq. on July 16, 2008 12:00 PM | Permalink

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Comments

It sounds like a ploy to try to avoid a run on the banks.

Wall Street has pulled its money out already:

http://www.nytimes.com/2008/07/16/business/16bank.html?ref=business

Posted by: Gines Pasamonte | July 16, 2008 2:45 PM

George Bush says we should not panic, that our deposits (btw -- that's per depositor, not per individua) are all insured up to $100,000.00 in case of bank failure. The President of the United States has to call an unannounced press conference to, in essence, beg people not to start withdrawing all of their money from banks.?

Of course, when banks fail, the Treasury can just print up some fresh money to pay off the depositors and tack it on to the national debt.

Posted by: Cide Hamete Benegeli | July 16, 2008 4:39 PM

Bank Failures.

Mass Foreclosures.

Industries and Consumers overburdened by formerly cheap debt.

Tax reductions to the rich as "economic stimulus."

High ratio of income disparity between the rich and working classes.

Mass industrial layoffs.

Deja vu all over again?

http://en.wikipedia.org/wiki/Great_Depression

Posted by: Gines Pasamonte | July 16, 2008 7:37 PM

Sure hope you're wrong, my friend.