Compass supporters
The Bush push for privatization is all about
keeping brokerages and big business afloat.
When interest rates go up, our super 90's growth
slows, who is going to have extra money to invest?
Take a look at this link from aflcio.org
http://www.aflcio.org/issuespolitics/socialsecurity/wallstreetgreed/upload/wsg_summary_frontgroups.pdf#search='coalition%20for%20the%20modernization%20and%20protection%20of%20america's%20social%20security'
It probably will not go through.
But I received it from Yahoo's search engine
when I typed "coalition for the modernization
and protection of america's social
security"
It would make a great subject for an article
which I have no time to write!
This document details the groups attacking
retirement security: AG Edwards, Allstate,
American Financial Group, Quick & Reilly,
Charles Schwab, CIGNA, E-Trade, Fidelity,
Goldman Sachs, Legg Mason,...the list goes on.
These nice guys got nailed when more private
individuals got their hands on trading tools and
their own inside trading networks were washed
out. Now they want to take on our Social
Security accounts.
The value of publicly traded companies and even
bond values was greatly affected by the pumping
in of cash from 401k's in the 80's and 90's.
Greatly overvalued. Yes it has been great in
that it built us fast internet service,
cheap tv's and plastic garbage toys built in
China.
The question is, are any of these companies
making money or are they squandering stock sale
and inside trading receipts. I can tell you
it is the latter. Is Walgreens making enough
money to build stores on every corner? To pay
for the bricks and mortar? No mam. Sorry to say
they are not. Stock receipts. Accounting
manipulation. Slack government accounting
standards.
We are a very young country which has dealt
with its fair share of big business runnin
government. The times are going to change.
We are a democracy. Ran by brick layers,
construction workers, and starbucks servers.
Can we handle a downturn in our economy? Yes we
can. Laborors will always be able to build
homes for each other, counting on communities to
feed each other, as in the farming economy at
the turn of the century.
The problem here is can Investment managers
keep their summer life styles in the hamptons
if their commissions drop?
I am an x-Arthur Anderson CPA
Auditor at home with 2 young children. I have
dealt with these CFO/CEO "investment Managers"
directly. And I gaurantee that they are only
concerned with their own estates. Definitely
not the future of working-class america.