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Posted by Michael Soldan on March 09, 2004 at 08:12:47 from (216.46.130.11):
Having read the thread entitled"I think I found a scam on this site, help" I believe the discussion was leading to a greater and more important issue. It is one of being wary of anything that sounds too good. Tiny tots are read the story of Little Red Riding Hood..to learn about the wolves in society that would take advantage of us..corporations, banks and investment firms. Yet , we haven't got it quite yet. When those we trust at the heads of these corporations spend their time building their own portfolios into the millions, sitting on various boards for stipends in the hundreds of thousands, bleeding companies, cooking the books until firms go under and walking away with millions in portfolios, it is little wonder that those of us who have to scrimp to save $50 out of each paycheck are the ones who ultimately lose out when our retirement plans, our meagre savings are left in the hands of these so called professional investors. I believe Martha Stewart is more sinned against than sinning yet I rejoice in her guilt because her guilt represents what corporate America has become...A FIX, where those with the ins can build their portfolios at the expense of every hard working citizen. I was reading a financial section last week and read that the president of The Bank of Nova Scotia, one of Canada's leading institutions is paid $6 000,000 a year, while they pay a wopping 2 1/4% to investors..how much time does this guy spend in his working day trying to make things better for investors and how much time does he spend in a day tending to his personal portfolio worth in the millions as well...what do you think?..scams, we need to be wary everywhere we go, what doesn't sound right should come to light whether its a tractor, an RSP or your grandmothers savings account. ....Mike in Exeter Ontario
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