As i see almost everybody knows that people from Wall Street are scumbags. They are liars. None of them can be trusted to invest for.
Yet i see that most of the some people invests on banks or give money to investors or so on...
Simple question: Why?
The easy answer: savings is stupid because you might as well hide your money in a mattress since the bank will steal whatever it can and doesn't pay shyte in interest anyway. Retirement accounts have been ripped off and taxed to death in that dance of greed so familiar to Americans due to an oligarchy of corporate controlled laws. So that leaves Wall Street, bad as it is where real people lose money while the filthy rich get bailed out, but it does offer the delusion of the American Dream where "wise investment" leads to pie-in-the-sky success. That's the easy answer. The hard answer is people are ignorant and deserve getting ripped off for putting up with it.
Btw, since so many people have shown some common sense and left the banks for more manageable money investment in non-profit credit unions, those same credit unions are now faced with having their tax-exempt status pulled so that they'll tow the line like the big boys and start ripping off their investors. Don't look to your government for help except to offer more mass-surveillance and handouts to the rich.
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I want to see Henry Harold Humphries interrogate Verbal Kint.
well a lot of the times people don't directly invest. for instance most companies have 401k which basically deducts some amount of your money to a pension account. now the company you work for tells you that a)you get this money and invest them yourself or b)you keep the money in the companies pension fund and they invest them for you... if you choose B tought they will for instance match you dollar for dollar so most people choose B. There is really no option where you can get to those money as get them in cash tought without stiff penalties at least, and we are talking 40-50% cut.
Now another situation is if you work for local government - schools, prisons, etc. where the institution creates a fund and then they invest it. you have either no say or very little say how and with whom they invest it.
The third and final situation, I think that is what our guy was in, is where he had some cash and invested it. Now before the crash most people tought of investment banks as angels and godsends since they really did bring you 8-10% and sometimes more. It just that at some point the system crashed and people got burned bad.
Yes, but still why would a person give their whole life savings to a banker without proper knowledge of what exactly that banker is investing their money in? Why would someone work their butt off and earn all this money just to hand it over to someone who is not liable if it all goes down the tubes?
When it comes to money people really need to be control freaks and manager their own money. If I lose all my money in an investment that I did then so be it, at least I was the one doing the investing and not some banker on Wall Street that only cares about making profit for their firm.
So in essence, people need to manage their own money and not rely on someone else to do it. There are just too many lawyers, accountants, and bankers out their willing to take your money from you. These people produce nothing yet take all the wealth. They're looters plain and simple.
Before the crash it wasn't common knowledge that bankers are generally untrustworthy. Plus when experts are saying the investment is safe, that it is low risk, that it has a good rating, that may be tempting. After all you're only getting a few %, it's not a high gains high risk investment.
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