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To: puborectalis who wrote (23092)10/18/2002 4:15:36 PM
From: David C. Burns  Respond to of 24042
 
Fund fat cats get rich as investors suffer
Customers of Gabelli mutual funds lost an average of 44% of their portfolios last year, but Mario Gabelli made $47 million. He and many other big-name fund executives have yet to scale back their pay despite their dismal performances.


Fundamentally this is the same corporate governance issue as the CEO pay issue and stockholder rights in general; it will only be fixed when there is a revolution, and "investors" are just meekly taking it.

Investors of the world, unite! You have nothing to lose but your small change!

Reminds me of the New Yorker cartoon many years ago of the protestors carrying signs that said:

"Please support the meek"

"Self-effacing citizens demand a tiny voice."

"Murmur for peace"

"Discriminating against us is wrong, but that's only our opinion, of course"

"We don't mean to be pushy"

"We were promised the earth: please, may we have it soon?"