Financial Mess: How Did It Happen?

I found this article incredibly helpful in how to understand the current financial mess.

I think a lot of the insights from what happened with the financial situation can be applied across-field - in my situation - to the film business.

On a side note - I got caught up watching Charlie Rose interview Warren Buffet last night. He made some really insightful points. One which stuck out to me: the only way a smart investor can lose money is by leveraging, i.e. borrowing. A smart investor will make money over time so long as he/she doesn't leverage. The issue with leverage is that you can make a smart bets, but if something goes sour, your losses aren't restricted to that single bet. Yes, you can multiply your money quicker and feel like a genius, but you can also get caught with your pants down. Like now.