POST OF THE YEAR --- ALL INVESTORS READ PLEASE
To:Dave Gore who wrote (9726)
From: doribee88 Saturday, Jul 20, 2002 9:49 AM
View Replies (1) | Respond to of 9737
Dave...I think you and others on the board would really enjoy Bill Moyer's program this week. I saw it last night, but maybe it'll be repeated for it's on PBS.
John Bogle, described by FORTUNE Magazine as one of the investment industry’s "four giants of the 20th century," joins Bill Moyers to talk about the crisis of confidence in corporate America. Mr. Bogle founded The Vanguard Group in 1974, which he then grew into one of the two largest mutual fund organizations in the world.
pbs.org
Anyway, I really liked what he had to say. I'll try to do a summary, but I didn't take notes so might not get it all just perfectly correct. Basically, he said the way to clear up much of the problems with corporate fraud can be from:
- a public outcry
-stiffer jail time in a non-coutry club type jail
-major institutions doing the 'right thing' for it's the ethical way for them to behave.
He went on to say that 75 institutions control 40% of the market and that they should be the ones to work together to restore public faith in these companies. He also said that these institutions contribute heavily to fund raising for members of congress and that it's the best investment return you can get anywhere...suggesting it could be around a 300% return.
Anyway, wish I could remember more. Just know it was excellent, imho, and think people interested in the market would benefit from seeing it.
*****
TAKE ACTION -- Don't just complain. Anybody can be a whiner, take action and make a real difference.
E-MAIL THESE ORGANIZATIONS AND PEOPLE
1) Your State Senators
senate.gov
2) Mr. Levin's website, head of the Senate Subcommittee dealing with these things:
levin.senate.gov
3) SEC website: sec.gov
4) NASD website: nasd.com
5) Wall Street Journal: wsj.com
6) CNBC website: cnbc.com
7) Dept. of Justice: doj.gov
Anybody else you can think of...your local newspaper, etc. |
