Kevin Kerr says the Occupy Wall Street protesters are representative of a large part of the population who are angry at the moral failings of our government and financial institutions. He recommends ways to protect your money in this environment.
Kevin,
I don’t know what news you watch, but here in the S.F. Bay Area, the news programs portray the OWS people almost as if they are saints. Over my lifetime, I have tried to be totally responsible for myself. My wife worked for a bank back in the 90′s that was forced by the government to make bad loans. You must be aware of this policy that was introduced by the Clinton administration. That bank and the next one that she worked for were eventually sold to larger institutions because the government made it impossible for them to make responsible home mortgage loans as they had in the past. Hundreds of employees became unemployed. Those loans, by the way, were all eventually turned over to Fannie Mae. For you to blame banks (as a group) is irresponsible and ignoring the actual root cause of the housing mess. While there are a lot of unhappy folks in the USA, the ones who have and do get government handouts that are entirely paid for by those of us who actually work are less than honest about their motives. Demanding the “forgiveness” of student loans, or “free” health care or any other “free” good or service is a burden on the rest of us who have worked hard to earn a living, pay our own way, and try to secure our own future. While I do believe in charity, I think it destroys ones aim toward excellence to continue to throw all the honest hard-working people in with the crooks (especially the majority of those elected or appointed to public office). I am in the 99%, but I don’t buy what I can’t afford, and I don’t expect someone else to support me or to bail me out.
We seem to have become a country of four-year-old brats. You make a bad decision, choose a wrong study path, get hurt while driving drunk, or make a bad investment, and someone else should pay? Eventually, no one will have the incentive to get up in the morning. Many of us are really tired of paying for things caused by other people’s bad judgement.
I can see this makes you feel good. I don’t think it adds anything to solving a very complex problem constructively. Namecalling by either side doesn’t help. It will take level heads on BOTH sides.
Keven, I think II heard what you said, but I don’t understand your rule of 10′s.
Can you give a partial example. Your suggestion would seem to require 10 x 10 different companies at least (assuming one company in each product). That seems to be a lot of stocks???
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