why bankruptcy is not your fault

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By druneric


Vindication at last

Sometimes I feel like an expert on the subject of economics even though I can't balance a checkbook and math was my ruination throughout my dismal years as a student. But I find it comforting to realize my common sense makes me just as smart as some of the world's most lauded financial analysts.

At least 10 years ago when every credit card company in America was offering me hundreds of thousands of dollars worth of credit for my signature I said to my husband, "But what's backing up these dollars? Is a dollar worth anything real anymore? What's the difference between a credit card company telling me I can spend $100,000 and me just printing dollars down in the basement?" Now, mind you, my husband was the proud owner of a doctoral degree (not in economics, but he's smart) and he said, "You got me!" Alas, I was in charge of the household finances and promptly hurled us into bankruptcy. For years I felt like a financial failure and even had to put up with my husband AND our attorney referring to me as Lucy Ricardo. Well, If I'm Lucy, who is Alan Greenspan?

“I guess I should warn you, if I turn out to be particularly clear, you've probably misunderstood what I've said”

"It has been my experience that competency in mathematics, both in numerical manipulations and in understanding its conceptual foundations, enhances a person's ability to handle the more ambiguous and qualitative relationships that dominate our day-to-day financial decision-making.”

Copyright ® ThinkExist 1999-2006 (Alan Greenspan quotes)

ALAN GREENSPAN: Well, remember that what an ideology is, is a conceptual framework with the way people deal with reality. Everyone has one. You have to -- to exist, you need an ideology. The question is whether it is accurate or not.

And what I'm saying to you is, yes, I found a flaw. I don't know how significant or permanent it is, but I've been very distressed by that fact.

REP. HENRY WAXMAN: You found a flaw in the reality...

ALAN GREENSPAN: Flaw in the model that I perceived is the critical functioning structure that defines how the world works, so to speak.

REP. HENRY WAXMAN: In other words, you found that your view of the world, your ideology, was not right, it was not working?

ALAN GREENSPAN: That is -- precisely. No, that's precisely the reason I was shocked, because I had been going for 40 years or more with very considerable evidence that it was working exceptionally well.

Copyright ©1996- 2009 MacNeil/Lehrer Productions. All Rights Reserved.

I should thank Mr. Greenspan for clearing up some of my mental health issues. I wasn't Lucy Ricardo; I was assuming that our American economic masterminds wouldn't be offering me bundles of money unless THEY knew what THEY were doing.

And as for the attorneys and husbands who criticize the Lucys of the world, I say, "Take your criticism to Madison Avenue and Wall Street. Don't blame me."

Copyright 1996-2009 THE FLAG GUYS ®
Copyright 1996-2009 THE FLAG GUYS ®

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redhairedgirl2004 profile image

redhairedgirl2004  says:
11 months ago

Yeah, baby!!! YEAH!!! You take it TO 'em mom!

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