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March 06, 2009



Yanno, I've gone through all the stages of grief w/the IRA/401k, and I can accept it'll never be the nest egg for retirement it was supposed to be.

So lately I've been thinking, Obama should encourage us regular wage-slavin' folks to take shelter in the closest credit union or well-capitalized local bank we can find, think up some ways to protect big institutional investors like pension funds & university/non-profit endowments, then let her rip on the rest of the high-flyin' high finance market.

Srsly, there should be two financial markets: one to preserve capital for wage-earning shlubs with modest returns just a bit above inflation. And then a casino where exotic whacko high-risk/high-yield, the house-always-wins shit happens. And never the twain shall meet. Or if you're feeling lucky and have money you can lose, then go play the tables at the casino, but no crying if you lose your shirt.

Could we just repeal Gramm-Bliley-Leach and get an updated Glass-Steagall back??

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It is amazing how many rich I mean billionaires are in the world, so wealthy that they don't even now what to do with that many money.

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