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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Greg Jung who wrote (176662)	7/1/2002 2:48:58 PM
From: reaper	Read Replies (1) of 436258

<<blame on the victims of the fiasco is misplaced>> Greg, it depends who you call the "victims". I (and others on this thread) are simply FURIOUS that the money managers, financial advisors, CNBC et al are endeavoring to position THEMSELVES as the victims and to absolve themselves of responsibility for this fiasco by saying "well, we were lied to. that's why we lost your money". You are absolutely correct, individuals should not necessarily know any more about accounting than i should know about engineering; i hired an architect to manage the renovations on my home and folks should be able to hire a financial expert to manage their money. That said, these people who do rely on financial advice from others have been failed, and I (and Joel and marginmike and Early and .....) want them to understand that the stewards of their capital are complicit in this mess. We do not need more regulation (which is where this all started). What we need is "experts" in the financial arena to do their job and for people who relied on those experts to hold those people accountable and take their money away (that Al Harrison is still gainfully employed simply boggles the mind). With no less than one's financial well being at stake, I believe folks should look at how the snake-oil-salesmen have stolen their money to pay for their big houses in the Hamptons, and ask themselves whether or not they should be more educated about financial matters. Asking for regulation simply means a different set of charlatans will pick a different pocket at a later date. I did incorrectly take your post personally, so let me please apologize for for the tone and content of my reply as it was un-deserved. Cheers

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