There doesn’t seem to be much trust in the world at the moment, thanks to the economic crisis. But I hadn’t really thought about it very much until I gave some recent news bites some thought, because I don’t really have much to trust anyone with!
But. I do have a bank account with a few hundred dollars in it. It’s not much, but it’s all I have. It’s with Banamex, who in my opinion are one of the better banks in Mexico. But they are owned by Citigroup who are clearly in big trouble. Do I really want my money in a troubled bank given what has happened to other banks in the last few months? I would say it’s low risk, but when my money is what is at risk, I much prefer no risk. I’m not going to keep anymore than I have to in there I think.
Then there is Yahoo. The chairman, and founder, has gone after a year of intense turmoil, and their share price continues to plummet. I host all my photos on Flickr, a Yahoo company, and the vast majority of them aren’t backed up anywhere else. Do I trust them? Yes, I do. Totally? Well actually I’m going to invest $130 in a 1 terabyte external hard drive and download all my photos just to be sure.
I have to say I don’t feel as trusting this week as I did last week.