I'm Ben Stein, And I've Erred Financially

(CBS)  Feeling bad about some of your recent financial choices? You have plenty of company including our Contributor Ben Stein:

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These days I spend even more time than usual beating myself up.

I'm supposed to know a lot about economics and finance. And I guess compared to some people and my dogs I do. But I still have made major money mistakes lately.

I have a lot more real estate than I should have. When prices were skyrocketing that was mighty sweet. Not so much now.

I have a lot more stock than I probably should have. A year and a half ago, that looked smart. Now we have some stock market days that turn my stomach.

How could I have made so many idiotic mistakes? How am I ever going to explain myself to my son that his inheritance disappeared? How will I ever pay for my livelihood when I'm older and grayer?

But I have some consolation! Yes, I lost money. But I didn't lose billions the way the top dogs at some banks did.

I didn't get paid a salary of tens of millions only to drive my company up to the gates of bankruptcy the way some of the sharpest minds on Wall Street did.

I didn't borrow tens of billions from my depositors and lose it in subprime mortgages.

I didn't make my stockholders pay me bonuses and options worth hundreds of millions - only to lead my stockholders to ruin.

We should all take these lessons to heart. It's a rare guy or gal (except for the ones in the oil business) who isn't feeling some pain right about now.

And many of us feel we did something stupid and a lot of dopey things about money but how much can we blame our little selves if the smartest guys in the room - living gods on Wall Street - blew tens of billions on an investment that never really made much sense?

So relax. We all make mistakes and we'll probably make them again. The smart ones among us go forward from there to tomorrow. The fools think we can get yesterday back. We can't.

[jimfinster]

Patriotism has a real price, those who refuse to pay it (check their investments, easy enough) need to be removed from life in Amierca, we cannot allow such traitors to exist alive here. When we enforce such loyatly, our nation will rise and prosper.

Posted by SharnCedar


Dude, what are you saying? You want to kill people if they invest in other countries????

[sjw1253]

incog-nito - I believe I am "real"...

I understand this is an "opinion" thread - but I do not believe it is a "personal" bashing thread.

The opinions that I am interested in reading are those that relate to the depth and breadth of the article.

Someone such as you - who remains "incog-nito" - hides behind a cloak and have no comments that provide any intellect whatsoever. Childish comments bashing a person from your "personal" and I may say imho - "idiotic" thoughts is not what I come for on this thread.

I want to read relevant comments. If you can provide some form of valid criticsm to the writings I remain with my ears perked up.

If you can only provide evidence of you lack of ability to think without any intelligence - like a grade school kid on the playground - I would prefer that you not participate. This is grown up territory not the jungle gym.

[grigjd3]

Do you really think the people on Wall Street are the smartest people in the room? Seems like there are smart and not-so-smart people everywhere.

[talkingham]

gee, it sounds like he might be rethinking some his his republican family values.

[oneworldusa]

Due to censorship, I''d like to offer the following descriptive terms. By the way, where HAS Cheney been lately? Anyone seen/heard from him at all? Not I.

Cheney Head
Cheneying someone over
Cheney Face
Cheney Wad
Latest transgender surgery: Add-A-Cheney-To-Me

[oneworldusa]

Posted by OneWorldUSA at 03:56 AM : Aug 04, 2008

-LOL. The stars below were cause I said CEOs and oil people have been s_cre_w_ing over their customers and shareholders.

[oneworldusa]

He makes some valid points about overpaid CEOs using other people''s money irresponsibly to pad their own pockets while *** over their customers AND shareholders. And, takes a gouge at the oil people *** everyone over.

Glenn Beck thought rising gas prices were GREAT for America until someone in his family who owns a business told him how bad it was hurting. Then, he changed his tune. Evidence is in his blogs.

[brianbwb-2009]

"I didn''t get paid a salary of tens of millions only to drive my company up to the gates of bankruptcy the way some of the sharpest minds on Wall Street did."

But because you chose to ignore the reality of what those you consider to be sharp minds were doing, you, and those who followed your advice, were taken, becoming those born on the minute mark, to paraphrase P.T. Barnum.

"I didn''t borrow tens of billions from my depositors and lose it in subprime mortgages."

But you praised such schemes before they collapsed, because the analysts lies showed the banks making money.

"I didn''t make my stockholders pay me bonuses and options worth hundreds of millions - only to lead my stockholders to ruin."

But you treated those who did as unable to do wrong, because they were rich, they must have been right, or smart, and derided those who dared call them what they really were, crooks.

[zloa]

This is a raretiy, a conservitave who admits his mistake and wants to learn from it. (you seeing this G.W.)

[dashortround]

A fool and his money are soon parted, they say.