I think this financial crisis is a good thing.

Maybe after this mess more boards of directors, activist shareholders, and banks will pay more attention to the actual skills, knowledge, judgment, and experience of whom they hire to run their companies and handle their money, rather than just looking at where they graduated from or who they know.

I also think that this is a good reality check for many Americans who have been living beyond their means. I'm in law school with a bunch of spoiled brats who don't work, never have worked, but have their tuition and expenses paid by their parents and by the taxpayers, get spending money from mom and dad, and they still have credit card debt up to their eyeballs. So long as they're still finding lawful ways to go out drinking every single night and dropping $30 to $40 every evening on dinner, we're not at the bottom. When the credit card company cuts them off and then mom and dad cut them off, that will be my "buy" indicator for the market.

I want to see this country prosper, but my definition of prosper varies significantly from the measures reported on the news. If we're fat, rich, and happy, but the country is nothing but a monument to depravity and excess, then I don't see that as an accomplishment. Hopefully people take advantage of this economic downturn to re-evaluate their priorities, habits, and values.