e-Vents

[ Saturday ]

Mr. Paulson...Bail ME Out !

With seemingly all of the focus aimed at Wall Street and the financial markets, what happens to the average investor whose retirement accounts (cumulatively) have lost trillions of dollars in the past few weeks?

Mr. Paulson, how about sending me a check for $500,000 to compensate me for my losses?

I could then feel a little more confident about my retirement years, and the college fund for my kids. It might give me the confidence to spend money on discretionary items, hire the additional employees I need for my small business corporation, and pump money back into the economy which in turn helps local government collect tax revenues and provide basic services.

Instead, taxpayers like me are watching as the federal government throws money at a broken system...one that has bilked trillions of dollars from individual investors and pension funds through unregulated hedge funds, lax SEC enforcement, and FOH (Friends of Hank) deals allowing those who guided these investment banks and financial institutions into the ground to escape with millions of dollars in exit bonuses. And while you're at it, why not correct the problems which led to the housing debacle...the government's CRA program which led to mortgage approvals for otherwise unqualified borrowers, and the false demand which proved to be a house of cards.

MM [07:33]