Reformed

I stand here a republican reformed. I’ve had enough. I’m throwing in the towel on de-regulation as gone is the argument of less regulation equals free-er capitalism and richer companies. Maybe in the future this can change again. I think of the problems is that as the stock markets became more transparent and faster paced, the companies that are, or should I say were, being traded by countries and common people, they need transparent accounting. Why not? Stock investments can’t all be backed by words, prospective(s), and ratings from faceless ‘pros’ in the ‘market.’ From now on, if a company wants my money, you will show me more than a PDF. I want cash, investments, future plans, and the books.

We have all heard of the Madoff scam by now. This guy’s final fantasy stock game of the uber rich and even countries ride is over. So far 23 billion has been claimed in losses, and people from all over the world are effected. At this point, this guy should be feed to the sharks, literally, drop him off in the middle of the Atlantic. That’s how I feel, and I didn’t even have money in his accounts.

I feel bad for the pensioners of Fairfield, Conn who’s pension account is now $0. I can’t think of another solution right now, other than accounting transparency, because right now, no one is trustworthy. Simply because a lot of people don’t if they will have a job tomorrow, which creates desperate times, and then riskier decisions. For now, I am keeping my money in a savings account, earning 3.5%. I’m happy with that for now because the market is too volatile. Anyone else have another solution, other than accounting transparency and more regulations? Let me know.

Links:

http://www.time.com/time/business/article/0,8599,1866689,00.html

http://www.time.com/time/business/article/0,8599,1866398,00.html (personal story)