Listen to Warren.

I'm far from a Wall Street wiz. Hell, I'm an artist - probably the furthest thing from a finance or business person. But I think it's probably a good idea to listen to the most successful investor of all time in the current financial situation.

Warren Buffett briefly spoke with Fortune magazine about an idea he had for a modified Bail Out Plan. He proposes that the government put up 80% and turn to private investors for the other 20%. That would assure the government get the market rate for these bad assets and would give the government a better chance at getting most of its money back. Buffett even says the government could see a profit out of this alternative.

On the other hand he also said he didn't think $700 billion was enough - but he neglected to say what sum would do the trick.

My question for Buffett's plan is - are there enough willing and, more importantly, able private investors who could come up with $140 billion or more?? I know I don't have it.

See the full Fortune article here: http://money.cnn.com/2008/10/02/news/newsmakers/buffett.fortune/index.htm?postversion=2008100216

Time to Save.

Today when I was checking out my bank account online, I found a little link on my bank's homepage. It linked to a page that had a statement I think we should all read and live by. http://ping.fm/fCilD

Now, I admit, this is nothing new or revolutionary. But it's nice to see a bank trying to promote responsible financial practices. It also never hurts to be reminded that we should all live well within our means. If we all did that in the past our country wouldn't be experiencing this financial crisis.