Re: Time for Wall Street to Pay

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Posted by Sigh on March 02, 2008 at 12:10:58:

In Reply to: Time for Wall Street to Pay posted by Leo on February 29, 2008 at 11:49:55:

"But probably the biggest reason is that the huge bonuses paid in the good years are never required to be paid back in the bad years, creating an asymmetric compensation system that encourages excessive leverage and risk-taking. "

The smirk behind profit taking off of the naive should be called fraud. "Burn Baby Burn" will be paid by the small investors such as within my mutual fund. Advised investment by the professionals, it took a $20,000 hit and of course they still got their fees. Advised again to leave it alone for the "long term", which I no longer have at my age, I sold anyway. I've earned far more thru CDs, but now the interest rate stinks and the small saver is raped again, including the value of our homes at this point. Those using the private jet planes traveling and poluting the world for fun should be among those held accountable. Hopefully the internet info will encourage learning to identify fraud and not create more sophistocated fraud. At the moment it's the only control we have. Don't give up what cash you have and stay off that charge card friends.

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:  "But probably the biggest reason is that the huge bonuses paid in the good years are never required to be paid back in the bad years, creating an asymmetric compensation system that encourages excessive leverage and risk-taking. "


: 
: The smirk behind profit taking off of the naive should be called fraud.  "Burn Baby Burn" will be paid by the small investors such as within my mutual fund.  Advised investment by the professionals, it took a $20,000 hit and of course they still got their fees.  Advised again to leave it alone for the "long term", which I no longer have at my age, I sold anyway.  I've earned far more thru CDs, but now the interest rate stinks and the small saver is raped again, including the value of our homes at this point. Those using the private jet planes traveling and poluting the world for fun should be among those held accountable.  Hopefully the internet info will encourage learning to identify fraud and not create more sophistocated fraud. At the moment it's the only control we have.  Don't give up what cash you have and stay off that charge card friends.


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