The whirlpool that is the sub-prime mortgage disaster in the U.S. continues to get bigger and suck more things into it. But not everyone.
At kottke.org, the excellent Jason Kottke has some good references to smart people who have managed to see the problem coming and avoid it (for now). For more details, see his entry: Yay! Today is sub-prime mortgage day on kottke.org, I guess. The… (kottke.org)
Also, check out the site n+1 — he referenced earlier — that has an interview with a Hedge Fund Manager that not only talks about this problem but problems in the world of high finance generally. An eye-opening interview.
Be afraid.
Smart People I Know 