Thursday, June 10, 2010
My money stays on the sidelines until proven measures from the past are re-implemented and my vulnerability is restricted to how a company performs.
Right now if investing I'm vulnerable to outright fraud in the ratings system, mis-information, and massive ethical and conflict of interest problems that border on the sociopathic. They want profits to be private but losses are societies problem = bailout = too big to fail = unethical, hypocritical bullshit = want their cake and eat it too = no risk for them = all the risk to you. It's a lousy system bound to fail and fail miserably if there is no accountability (pun intended).
You can not run a healthy, successful legitimate national/international investment market that is just a deregulated ponzi scheme based on hucksterism and confidence schemes with all the resulting corrupt and misleading information. Who would knowingly play in that pool?
You'll make more money with everyone in otherwise you're just churning capital, registering fees and working with 1% of the population incestuously. No growth, no manufacturing, no good.
The current bastardized unregulated system is completely unacceptable and not worthy of my time, trust or money.
Trust is the operative word here. I can't believe the people working in this industry are too stupid to know whats good for them.
Check it Wall Street - there are trillions of dollars sitting out there waiting to get back in the game - but not until you clean up your act, clean house and re-set your priorities. Banking should be boring. That's why there is Vegas.
goodnight and good luck - idiots
Take action here and here