1st. Mortgage 2nd. Fanny and Freddie 3rd. Lehman Merrill. What is next? My retirement Account in jeopardy ?

Yes all of ours is. It's just a hop step & a jump away from socialism I'm afraid. xo

Follow the basic rule of "buy low, sell high", which means just ride it out at this pont. If your investments are diversified and you've managed to avoid the speculative real estate market...whether it's a mortgage you can't afford or investments in mortgage based securities...you'll recover. On the other hand, if you own (owned) Merrill Lynch, Bear Stearns, AIG or the like, it's too late. The comming year will provide a fantastic opportunity to buy financially sound, beaten down stocks that will make a killing in the long term. Just don't be in too much of a rush to get back into the market.

You need to develop a thick skin and ignore the media screamers. If you listened to them as oil approached $150/barrel, you'd never have thought oil below $100/barrel would ever be possible just a few weeks later.

I truly believe that we are in, and have been in a depression state in this country for a while. Maybe the powers that be really thought that the war would spur the economy as in the past, wars have done. To no avail. Because this war was not entirely agreed upon by the rest of the free world countries, it has turned into a millstone around Uncle Sam's neck. If things continue at the rate they are going, then yes, I do believe that government securities, and bonds will be in trouble. If you watch how the stock market fluctuates from day to day, that is a direct indicator that we really are on the brink of an economic disaster. What will finally push it over the edge? What will save it?

sigh......phat beatz

Everyone is suffering. In UK We had a bank nearly go out of business but the government stepped in and Nationalised it, we've had 2 airlines go bust within days. I wouldn't put my money in anywhere at the moment and am relieved not to have a mortgage nor do I need to worry about trying to get one or worrying about selling my house.

Is taking your money out the right thing to do? Only you know that, I think I would leave it where it is until things improve. I suppose unless anyone knows when this will end we all just have to hang in there for a while.

First of all, this situation right now was a result of Greenspans actions and the governments inactions to stop and allowing unsecured loans on homes. Basic rule was ignored, NEVER lend money to someone who cannot afford. All banks jumped into the bandwagon and got greedy without even looking the future outcome of the loans. This is the result of all that GREED.....

I don;t think the average Joe can do much about it,the biggest culprit in these bad times is the "MEDIA" they helped create this "MONSTER" by just talking negativity even when something was good they played it down,you always have bumps in the road,but if you constantly report bad things they will happen this is what the "MEDIA" has done because they want a certain person to become President I really feel deep down that the "MEDIA" put us Americans and the world in trying times which in many cases it was only a pimple but the "MEDIA" turned it into full blown cancer.

start looking at tax free municipal bonds.