The U.S. Chamber of Commerce is fighting back. The organization has filed a civil lawsuit against the Yes Men, an activist group that announced that the chamber had changed its position on climate change.

The Yes Men told the National Press Club on October 19, 2009 that the Chamber of Commerce would give up lobbying against the Senate's 800-page climate change bill. Reuters, CNBC and Fox Business Network all reported on the story, with the anchors correcting themselves midstream, when they learned that it was false.

Whenever I hear some market pundit who sounds like they've got all of the answers behind the current crisis in the world's financial markets, the classic Frank Zappa line "Look here brother, who you jivin' with your cozmic debris" echos in my head. Zappa's point that people should avoid simple answers to complicated questions is especially relevant today.

The world's major central banks today added more than $137 billion into the banking system, keeping today's loss in the Dow Jones Industrial Average to 31.14 points following a turbulent trading session. This seems like a temporary, albeit expensive, Band-Aid on a very large wound. The bad news is far from over.

For example, Goldman Sachs Group Inc.'s (NYSE: GS) Alpha Fund may be the next hedge fund to implode. So far this year, it has dropped 26%, according to Bloomberg News. The Wall Street Journal (subscription required) points out that many hedge funds will see increased redemptions during August. Bloomberg also reported that many of the big buyout deals that have been announced over the past few months including TXU Corp. (NYSE: TXU) and First Data Corp. (NYSE: FDC) will have to be renegotiated.

Are there bargains to be had? Of course, markets act on irrational fear and irrational exuberance. But be careful, sometimes stocks are cheap for very good reason, such as exposure to subprime mortgage securities. It will pay to be selective in your bargain hunting.

Some investors also might want to consider shifting some of their assets into more conservative investments such as municipal bonds, utility stocks such as Exelon Corp. (NYSE: EXC) and defense companies such as Lockheed Martin Corp. (NYSE: LMT).

Don't overdo it, though. Over time, the market will right itself.

Meanwhile, people need to take a deep breath and exhale.

In the musical Fiddler on the Roof, Reb Tevye laments in the opening line of "If I Were a Rich Man" that "It's no shame to be poor. But it's no great honor either!"

The image of the poor peasant is so powerful that when people come into even a small windfall, they start to think of Tevye, which is a pity because he's offering bad financial advice. In fact, the last thing that anyone should do if they come into extra money is to break out into song.

Of course, the odds of Tevye or anyone else striking it rich are tiny but many people do get windfalls from an inheritance that's neither as generous nor as wacky as those outlined in this story. More commonly, people get extra money from investments including stocks and real estate.

Though everyone's situation is different, there are a couple of principles that people with extra cash on their hands should consider.

Rule number one is not to act like you've won the lottery. You shouldn't act that way even if you hit the latest Power Ball jackpot. That saying about a fool and his money being soon parted is true. Remember spending yourself into huge amounts of debt is easy. Just ask Michael Jackson.

The best investment for most people is themselves. Pay off any high-interest credit card debt if you have it. Get additional training or education if you need it. If there's still money after those expenses, then consult with either a tax or financial planning professional about your situation. If possible, do this before you get the money so you can plan ahead.