There is discussion fool of heated and very different arguments about the role of Press in a share in financial crisis.

Washington Post media critic Howard Kurtz noted:

“The shaky house of financial cards that has come tumbling down was erected largely in public view: overextended investment banks, risky practices by Fannie Mae and Freddie Mac, exotic mortgage instruments that became part of a shadow banking system. But while these were conveyed in incremental stories — and a few whistle-blowing columns — the business press never conveyed a real sense of alarm until institutions began to collapse.” Read MORE HERE!

And U.S. News editor Brian Kelly wondered:

“Yet it’s fair to ask if we, and our colleagues in the media, did enough soon enough. Lots of stories get written every week, but were we making it clear that something truly unusual was building? And what about reinforcing the common-sense notion that markets do not rise forever? Of course, if you give us the benefit of the doubt and think we hit the right notes, did any of the warnings even matter?”

The question is – did media miss the financial crisis?
It looks that sometimes better late than never, but however if an economists and economic experts were unable to recognize a $10 billion stock bubble, there is little reason to believe them.

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1. Saving (saving, saving and saving is the most important thing)

2. Save more!

3. Watch Your Spending

4. Get Aggressive in achievement of your goal. It means a lot of study, discipline, diligence and passion.

5. Be smart, creative, mobile and what is important be prepare for rainy days.

That’s all. It’s easy, isn’t it?

According AP hundreds of angry Renault workers and other protesters have stormed a Paris car show to register their discontent about expected job cuts at the French automaker and restructuring in the industry.

Blaring horns and setting off firecrackers, the demonstrators showered union leaflets on prototype cars and unfurled banners as police kept watch at the Mondial de l’Automobile auto show.

Renault management last month announced 6,000 job cuts in Europe _ or about five percent of its total work force _ in hopes of keeping the automaker competitive and ensuring its long-term development.

Protesters said some 5,000 people took part, though police put the number at around 2,400.

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The Bush administration have taken ownership stakes in certain U.S. banks as an option for dealing with a severe global credit crisis, AP reports.

Treasury Secretary Henry Paulson told reporters that Treasury was moving quickly to implement the $700 billion rescue effort and he specifically mentioned reviewing ways to bolster the capital of banks.

“We will use all the tools we’ve been given to maximum effectiveness, including strengthening the capitalization of financial institutions of every size,” Paulson said at a Wednesday news conference.

Asked whether he would try something like the British plan, Paulson said: “We have a broad range of authorities and tools. … We’ve emphasized the purchase of liquid assets, but we have a broad range of authorities. And I’m confident we have the authorities we need to work with going forward.”

After a week of wrangling on Friday a far-reaching and historic plan to bail out the nation’s financial system was passed, CNN Money reports.

The vote for passage of the Senate-amended bill – 263 to 171 – was the result of strong lobbying on the part of the White House and other supporters of the bill all week, following the House defeat of a similar measure on Monday – a defeat that shocked the markets and congressional leaders on both sides of the aisle.

“By coming together on this legislation, we have acted boldly to prevent the crisis on Wall Street from becoming a crisis” that hurts the broader economy, said President Bush.

Bush said he would sign the bill as soon as gets it.
According to preliminary numbers, 172 Democrats voted in favor of the bill while 62 opposed it; and 91 Republicans voted for it and 108 voted against it.

“We came together to deliver this decisive victory for the American people,” Rep. Jim Clyburn, D-S.C.