Stealing candy from a baby
As a retired person who, over a lifetime, saved diligently for retirement, I am disgusted by talk of bonuses and excessive executive compensation. The greed and dishonesty shown by many in the financial industry should be rewarded with prison sentences. For some, getting rich was as easy as stealing candy from a baby. For most of my life I saved within GIC’s and other guaranteed financial products but in the last decade artificially low interest returns did not even keep pace with inflation. This situation forced me and many like me to invest in the market (mainly thru mutual funds) in an attempt to obtain adequate returns. Many will now face a bleak future, unable to adequately fund their retirement while the people responsible get bailed out. I have come to the conclusion that the financial services industry is as lawless as the wild west and ordinary people would be well advised to keep their money at home in a tin can. It would be less at risk.
As a retired person who, over a lifetime, saved diligently for retirement, I am disgusted by talk of bonuses and excessive executive compensation. The greed and dishonesty shown by many in the financial industry should be rewarded with prison sentences. For some, getting rich was as easy as stealing candy from a baby. For most of my life I saved within GIC’s and other guaranteed financial products but in the last decade artificially low interest returns did not even keep pace with inflation. This situation forced me and many like me to invest in the market (mainly thru mutual funds) in an attempt to obtain adequate returns. Many will now face a bleak future, unable to adequately fund their retirement while the people responsible get bailed out. I have come to the conclusion that the financial services industry is as lawless as the wild west and ordinary people would be well advised to keep their money at home in a tin can. It would be less at risk.