Tuesday, May 18, 2010

Place your bets....

Its been said many times that the current Wall Street environment looks suspiciously like a casino. It turns out that at least one Wall Street firm, and my guess is several others probably due too, requires applicants to play a few hands of poker during their interview and if an applicant has no interest in poker its a red flag. These same people have most of our retirement savings. Now I gamble a couple times a year in Vegas or at local Indian Casinos where I vacation and in Central City/Blackhawk here in Colorado. I only gamble with what I can afford to lose. These days the Wall Street players are gambling with our money and its not money we can afford to lose. I don't know if investing in the stock market was ever safe to begin with as all things have risks, but it now seems to be downright hazardous to your retirement health. Somethings gone wrong with this system and its the American public who will pay the price, if they haven't already. The solution? I don't really have an answer, because as long as greed is rewarded and looked upon with favor there will always be someone willing to push it to the next level or circumvent new regulations.




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