brewer12345
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Mar 6, 2003
- Messages
- 18,085
Discuss. Or don't.
Are sleazy stockbrokers ruining the US economy?
unclemick, far be it from me to trash the Wellesley fund w/r/t others.. but its equity portion is 85% US/Canada. It's got bonds.. hmmm AAA bonds, but what the hell does that mean anymore? I just think we are facing a climate in which past truisms may well no longer hold. [I guess you can say, well, Wellesley will be the redoubtable band that plays us out on the Titanic, though, for what that is worth.]
Wellesley will be the redoubtable band that plays us out on the Titanic, though, for what that is worth.]
Harley, if you don't think the economy is being ruined.. look at the desperate faces and stammering testimony of Paulson and Bernanke. Look at the vacant strip malls and the empty ravaged housing developments. A plague of locusts could not have done more damage. Trillions of dollars of "wealth" have already evaporated, with more to come.
In that, you are right.as politicians, they don't understand that doing nothing might be more productive than interfering.
I think it was the finance marketing geniuses who came up with the CDO concept who have dealt a hard blow to the economy.
Redundant.... sleazy stockbrokers ...
Yup. Amazing how the financial innovations can end up in big blow-ups. Because investors (even and especially the supposedly sophisticated investors) start thinking the new-fangled thingie is infallible and stop paying attention to the risks.Sometmes the innovation leads to a dead end, other times to a blow up (portfolio insurance in the 80s, CDO squareds in the oughts, idiotic dot coms in the 90s, etc.).
Yup. Amazing how the financial innovations can end up in big blow-ups. Because investors (even and especially the supposedly sophisticated investors) start thinking the new-fangled thingie is infallible and stop paying attention to the risks.
Seems to happen over and over. It's inevitable - part of the human condition.
Audrey