Saturday, September 20, 2008

Debt, Financial Crisis and... Financial Culture (2)

Things have changed dramatically in the global financial industry... Lehman Brothers has filed for bankruptcy, Merrill Lynch has been sold and AIG has got fresh money to avoid the same as Lehman's.

What does this outcome could mean for all of us who are involuntary witnesses of this mess? Do we know what caused this awful outcome? Let's put it this way... Are we aware what it means in terms of our own personal finance (and therefore our financial health). Do we have some reasonable idea about its impact on our lives? (I sincerely hope it won't affect us professionally). Can we realize that right now is the moment to pay our debts (the dreaded credit card)?

Let's watch the second part of our documentary on credit cards and its financial impact...

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