Monday, August 10, 2009

Destroying Wealth Of This Nation


Today, feels like just one of those days. I have nothing new to write about the economy. I have summarized where I am on the need for better regulation of the securities industry and investment products. I would think that the 50 governors of the 50 states might get together and ask themselves, "should our pension funds be at such risk so a very few can make a killing for themselves and marks out of us?" But, my experience in Ohio demonstrates that governors are simple caretakers that usually do not have a creative idea in their head. When you stop and think about the trillions of dollars invested in private sector and public sector pension funds, IRAs, 401-Ks, endowments and foundations and the fact that Congress stripped away the protections that had been in place for many years, you realize how stupid Congress and the Presidents were, and how evil Wall Street and their lobbyists efforts were to destroying wealth of this nation. When people educate themselves to what took place, and how to correct being made a mark, then we will have change, not before.

Stay tuned.

3 comments:

Unknown said...

Don't run out of gas, Fred. There are those who have yet to hear your message. Keep beating the drum.

Butch said...

I double that.

moneythoughts said...

OK. Tomorrow we go back to the basics. What is our money?