Comments on: How safe are your savings? http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/ Fri, 05 Dec 2014 11:27:18 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: SanPa http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5167 Thu, 19 May 2011 04:03:18 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5167 I recall that Maddoff inverstors received some restitution through SIPC. The UBC ploy effectively returned 1% more than nothing. Frankly, UBC should be nationalized, liquidated, and any proceeds returned to victims.

]]>
By: Wassup http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5165 Thu, 19 May 2011 02:28:15 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5165 I don’t think brokers are your buddy. You bet’cha….as long as politicians can be purchased by Wall Street, let the buyer beware…….especially when he/she says “trust me!” Criminal prosecution for these structured products will flourish. Prosecution is reserved for “little people” at the same time corporations and politicians are exempted from the law. I’ve yet to meet a fiduciary in the brokerage business or the banking business.

]]>
By: ARJTurgot2 http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5162 Thu, 19 May 2011 01:08:43 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5162 In the mean time, Vanguard’s assets under management are now over $1.4 trillion. It has never been easier, cheaper, or simpler to have a balanced investment mix with a safe well run institution than it is today. There is more and better advice on how to do that now than there has ever been before, and many, many millions of Americans are doing it successfully.

]]>
By: JBradHicks http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5161 Wed, 18 May 2011 23:58:44 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5161 If you take even one economics class, they’ll tell you that there is no honest and reliable way to beat the rate of inflation on an investment. If anybody uses the terms “guaranteed” and “higher returns” in the same pitch, you should know, just plain know flat out, that that person is lying to you.

It is possible to beat the average rate of inflation, it is even possible to beat the market. But any attempt to do so is a gamble, and that gamble is what you’re being paid the premium rate of return for. Any broker who tells you otherwise is a thief.

]]>
By: Butch_from_PA http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5156 Wed, 18 May 2011 22:17:18 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5156 Predatory Wall Street practices will continue as long as politicians can be bought. As the current trend shows – this will go on pretty much forever.

Best to move your money to tangible brick and mortar assets and leave Wall Street to all the corporate welfare money consumers. They pretty much bleed everything dry with self serving bonuses and stock manipulation anyways.

]]>
By: Cynicalcubicle http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5152 Wed, 18 May 2011 20:41:31 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5152 I get it now, wall street causes recessions.

@Spac122 – You’re right, Capitalism is simply a tool. Unfortunately for us on main street, wall street uses it as a weapon of mass destruction.

]]>
By: fred5407 http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5149 Wed, 18 May 2011 19:17:23 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5149 I had an uncle who was in the market for 40 years and he said it was the biggest floating crap game around. He put his money in utilities. You can make money in the market and in Las Vegas if you know how to play and know when to get in and get out. Better have a good supply of antacide pills too.

]]>
By: Greenspan2 http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5147 Wed, 18 May 2011 17:34:12 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5147 The SEC’s attempt to require fiduciary standards for financial advisers has not been able to pass Congressional approval. In vestment banks and financial interests literally own the US Congress and government, with voter approval, so it is not likely that ordinary investors will have any protections from predatory practices. In fact, without being able to rig the markets and take advantage of “dumb” money, investment banks would not be able to make money in an honest manner.

]]>
By: 123456951 http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5146 Wed, 18 May 2011 17:12:35 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5146 I believe the financial mess was mostly the result of the derivative market. Although other things were responsible, without derivatives entering the picture, the financial “mess” would have been a somewhat milder “correction”. What worries me is that the same thing could happen again. Complex mathematics stirred together with greed.

]]>
By: 123456951 http://blogs.reuters.com/reuters-wealth/2011/05/17/how-safe-are-your-savings/comment-page-1/#comment-5145 Wed, 18 May 2011 17:12:31 +0000 http://blogs.reuters.com/prism-money/?p=13964#comment-5145 I believe the financial mess was mostly the result of the derivative market. Although other things were responsible, without derivatives entering the picture, the financial “mess” would have been a somewhat milder “correction”. What worries me is that the same thing could happen again. Complex mathematics stirred together with greed.

]]>