Quote:
Originally Posted by onewhippedpuppy
Shawn seems to be dodging my suggestion, instead operating on the assumption that every American would invest their SS money in Enron stock.
Shawn, right now my money is essentially an IOU. You're saying that I could somehow do worse? Furthermore, what qualifies YOU to tell ME what I do with my money?
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What suggestion is that Matt? You made a statement against my original and I proved you wrong. I can't go back and forth forever on this.
What qualifies me? Nothing other than I will have to pay more if you fail, for whatever reason. that is why you need to take a class which would cover everthing from types of investment vehicles all the way to due diligence techniques to avoid being taken.
You see Matt, when investment vehicles that are created that are so sophisticated that even top investment professionals don't understand them (mortgage backed securities) and the result is huge, long-time investment banks going under as well as institutions like Fannie Mae and Freddie Mac are close to insolvency, resulting in massive government bailouts paid for by you and me, that is my proof that the average American would fail in managing their lifetime portfolios. of course the massive credit card debt and living beyond their means of most Americans is the final nail in the coffin.
If deregulated and privatized, overnight you would see an entire industry of exotic investment vehicles that would result in ruining the country's economy.
But don't take my word for it, just look at reality.
When will you have the reconciliation ready? Rick will need it.