Shed a Tear for our Banking System - NOT!

We've read books and attended seminars saying that the way to become wealthy was to leverage "other people's money." Those "other people," the banks and credit card companies, have been sending us offers for low interest money for years.

So we followed the advice of the wealth building gurus and put that "free money" to work for us. But we found out the money was lazy and not only didn't it go to work, it died! And now the "other people" want their money back. But all we can do is shrug and say, "sorry, we don't have it. That guy does," as we point to the wealth building gurus. And "the other people" won't accept that.

Are we to feel sorry for the "other people"? I don't. They knew the risks they were taking. They knew that the people they were lending the money to may not be able to pay it back. In their rush over each other to shovel the money out to the consumer, they forgot about those pesky laws. Those pesky laws I refer to are the ones that state that when "the other people" lend money, they are to do so to the benefit of the clients, not just their own.

So don't feel sorry for "the other people." And don't feel bad if you can't pay them back on their schedule.

The 77% drop in Bank of America's earnings in the first quarter is their problem. The $393 million dollar first quarter drop for Wachovia is their problem. Wells Fargos' 11 percent drop and the 50% shortfall for JP Morgan is their problem.

Your concern is to feed and clothe your family and keep a roof over their head. Like cockroaches, the banks and credit card companies will survive.