Just read Chris Lee's weekly article on his web site http://www.chrislee.co.nz/ Have followed him for many years since his articles began appearing in the local freebie newspaper in Wellington when I lived there. Boy he has been on the mark for so many years.
He has been a great critic of finance companies and he has been proven largely right. This week he is talking about how he had always thought the Scottish, Dutch and Swiss banks were the smartest in the world and unlikely to be ever caught out but here they are now having to bailed out by their governments. My earlier blog about how most bankers did not understand their own risk products strikes me as one of the main reason and of course greed.
I and many like me face the problem of having had our investments ruined, the value of our houses have dropped and will be unsaleable for a number of years and we will not be able to get jobs to make up the difference in income. It is starting to get very scary for a baby boomer.
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