Corporate Greed Has Failed America

Yep, that's about the same face she had on today's airing of Oprah. Suze Orman was one pissed woman. Hell hath no fury like a financial guru when talking about a country's failed financial system. I'd hate to make her mad, I'm telling you.



Today's episode was very interesting AND timely. Today Oprah and Suze discussed the famous 2 words that everyone on Wall Street was asking: WHAT HAPPENED? Well, let me tell you that Suze told everyone why and what for.



After she was completely lathered up ranting about CEO's reckless management of their companies strictly to get their multi-million dollar bonuses, salaries and stock options. When Oprah asked, "How serious is this problem of our economy?" Ms. Orman still in full lather, glared at Oprah for effect and said emphatically, "This is as serious as the crash of 1929." You could have heard a pin drop in the studio.

She then began stating what life was going to be like for Americans as a result of this fiasco.

• People won't be able to secure home loans (or car loans for that matter) unless they really can afford them. This means there will be alot LESS home ownership and much more rental properties.
• Until the gas issue is resolved, bringing back the 1970's "odd and even" gas fillup schedule.
• Eating out will be a rarity for most people, staying home will be the norm.
• People will keep their cars for 10 years or more instead of buying new cars with any frequency.
• Charge cards will be a thing of the past. Our society is already moving toward a Cash Basis.
• Student Loans will be almost impossible to get.
• Leasing cars will also be a thing of the past.

Today I watched a financial expert tell everyone that our entire financial world is being turned upside down. I saw her tell a family that was $90,000 in debt that "You can't afford to live in your home. Move into an apartment or stay with family." It's becoming scary out there...





Now, where did I put my $600 "stimulus tax refund?" I will probably need it to help pay with other Americans the $600 trillion dollars that Dubya allowed to spiral out of control.

Oh, and did you hear on the news that Nashville, TN is the only city in the entire 50 states of these United States to run out of gas? Am I the only one that knows that this is another crock of crap?

More Musings Later-

Suze Orman - Livin' in a Van Down by the River!

You heard me. Suze Orman, financial guru and multi-millionaire television host actually used to live in a VW van in her younger years.

No, she didn't live down by the river, that is actually my homage to Chris Farley's hilarious skit about the motivational speaker gone wrong. Anyway, I caught a PBS show where Orman was discussing her meager beginnings and I was just amazed. I would have thought that she went to an Ivy league college and walk all the usual steps to becoming wealthy. Not so. If this gal can do it, we all can. And, she'll tell you that, too. That's one of the reasons I like her so much. She is a bit strange in her communication style, but that is her quirky way.

It turns out that when she was in her 20's, she was a Californian trying to find herself. She didn't have any money and she borrowed enough money from her brother to buy a beat up, VW van and she drove it to San Francisco. She became a waitress at a breakfast diner and lived in her van.

Chris Farley doing his skit as Matt Foley, "Living in a Van Down By the River"

After living life this way for quite some time, she began quizzing one of her regular customers about business and how to make money. Her regular gave her some money to invest in the stock market and he instructed her to have a broker from a well-known brokerage company assist her. That is exactly what she did and became fascinated with the industry. She lost all the money that her regular gave her because the broker invested her money in funds she knew nothing about and didn't take the time to explain the risks involved and so forth.

To him, she was just another "little lady" trying to make a buck or two. Well, she decided to break the "Good ole boy" barrier and apply for a job with this same brokerage. After much determination and selling herself to the interviewer, she was hired and began learning all she could about investments. She learned she could sue the brokerage for not investing her funds based upon her knowledge level at the time. So, she sued her employer WHILE she worked for them.

She won millions of dollars in a lawsuit. She paid her regular back for loaning the money and the rest is history.

One interesting story from a "little lady living in a van down by the river".

More Musings Later-