You think that the broker has your best interest at heart. They are, after all, working for you. You are paying them a commission. And you are living in America, the land of "everyday low prices." But you have been misled.
President Obama should note that President Roosevelt's slamming the bankers and financiers -- beginning with his inaugural address and right up through his campaign for a second term -- did not destroy the country's banking system.
Roger Lowenstein's piece "Wall Street: Not Guilty" is well worth reading, if only as a case study in the moral and logical blindness that's reached epidemic proportions among otherwise reasonable people in influential Washington and Wall Street circles.
A proper Senate confirmation hearing for Elizabeth Warren would allow her to explain in clear terms how "too big to fail" banks are are now involved in a hugely dangerous government subsidy scheme that presents a serious, nontransparent threat to consumers.
The Pecora investigation sparked a powerful drive to clamp down on tax avoidance, producing (among other things), new limits
With the risk of a national debt crisis lurking over the nation, former Federal Reserve chairman Alan Greenspan can't agree
The Financial Crisis Inquiry Commission, created by Congress to investigate and report on the causes of the market meltdown
UPDATE 10.8.10: The economy sheds 95,000 more jobs. The jobless rate has now topped 9.5 percent for 14 straight months, the
Megabanks Will Shrink, Bernanke Tells Financial Crisis Commission, Yet Doubts Over Too Big To Fail Remain
But that process won't be painless. "When it's crunch time, that's when the test will come," said FCIC commissioner Byron
"We should not imagine ... that it is possible to prevent all crises," he said. "To achieve both sustained growth and stability