Friday, October 31, 2008
40 Years: Its Been An Interesting Ride
Tomorrow is an anniversary for me. On November 1, 1968, I started out as a municipal bond salesman and began my career in the field of investment securities. That was 40 years ago and I have seen and read a lot. I have read books, articles, research reports and newspapers in those 40 years that have covered almost every aspect of the field of investments. I did not study business in college, but I did enroll myself in a lifetime of learning about money and investments and a whole lot more. The bottom line is that in a highly competitive industry such as the investment industry, there needs to be regulations, oversight, transparency and people committed to bringing this about. The present financial crisis which has our nation, as well as other nations struggling, is man made. That may sound too simple an analysis, but it is true. There are economic cycles, I will not debate that fact, but the highs and lows, like bi-polar, need to be held in check. The medicine for a healthy economy is enforcement of proper regulations, oversight and transparency. Couple that with the removal of the rating of debt by private for profit companies and placing that responsibility with the Federal Government, and I think that would go a long way to prevent another financial disaster. I do not have all the answers, but there are good men out there that do. I hope the next administration will make use of these good men to level the playing field. Our economy will repair itself with time. The big question is: how much time will it take? I have voted for the ticket that I believe has the best chance to make the necessary changes and do it in the shortest time possible. I voted for OBAMA-BIDEN. I hope everyone that reads my blog will give serious consideration to my appeal to vote for OBAMA-BIDEN.