(2) Ak said "Lehman Brothers go bankrupt , bank can disappear , insurance company also in trouble , who can we trust now ?"
From ysl two cents
If you hit search of " Lehman Brothers " , you get thousands of articles on it.
The history of bank bankruptcy globally ,some lead to another bank or government take over for continuity and restore the public confident .
We can't live without financial services , from an individual , family units, society, corporation, a nation & globally in this civilization world . Or else , we are back to the ancient time of goods exchanging with much trouble in perceived value argument .
You can't live by earning money , keeping your hard earn money under your pillow or keep in a Milo tin , which may entail security and value depreciation related risk .
Somehow we have to have faith and trust the financial system , to part our money , to accumulate for other assets purchases, to growth our asset for retirement ( what you currently earn not meant for personal usage today but also meant for personal usage in old age ), to provide for our love one .. etc
Then what should we do ?
Suggest diversification of the assets classes in cash, investment, physical properties, different region or different currency
If we view from another point, as and when there is financial hiccup somewhere, the world will become more caution , the financial sectors seems being slaps for another wake up call , the regulator will then put more effort to restore, recheck , emphasize compliant and rectify the potential error in future , same goes for those credit agencies' credibility improvement .
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