Seatbelts anyone?

"America's lenders have slammed on the brakes, and the economy's gone through the windshield."

That's how Liz Pulliam Weston puts it on today's "MSN Money" lead article. Ahem, but some of us were wearing our seatbelts and didn't even hit the dashboard. A bit of discomfort, perhaps, but no real damage. (Okay, enough with the analogy!)

Anyway, it's an interesting article and takes the time to compare some interesting statistics between the state of banking and loans from the 1970s and today. You can read it here:

Need a loan? Borrow like it's 1975

Seems to me this is an adjustment that America needs and has been a long time coming. It's time to return to "conservative banking practices" as quoted in the article. The so-called American Dream is certainly alive and well, but ya gotta EARN it, and that requires more patience and less instant gratification. I hope my young college classmates are paying attention.