Some day everyone will be old. The way it is right now the future of the young generation is what is getting pi$$ed away.
If you are under 55 you can not retire and get back the money you paid into social security untill you are 67 instead of 65. Now Greenspan wants to raise it to 72.
Bush wants to take part of the money you pay into ss and give it to stock brokers to siphon off into their personal acounts just like they are doing with your 401K funds right now.
So don't vote, let them bend you over the barrell for the rest of your life.
Wall Street scams: Are we any worse?
SWAMINATHAN S ANKLESARIA AIYAR
TIMES NEWS NETWORK[ WEDNESDAY, NOVEMBER 12, 2003 12:37:37 AM ]
Not long ago, we got endless lectures from foreign investors and fund managers on how corrupt and shady Indian market practices were, and how these had to be transformed if India was to attract any money from abroad.
There is now a discreet silence from that end because of the apparently endless series scandals in American corporations and markets. It started with balance sheet scandals like that of Enron. It extended quickly to the incestuous relations between auditors and the companies they audited, and led to the collapse and extinction of Andersen. This overlapped with the scandal of bogus trades conducted by several energy trading companies to fool shareholders about revenue and regulators about the premium to be paid for energy supplied in times of congestion. Many other tycoons like Kozlowski of Tyco and Rigas of Adelphia Communications were arrested for fraud and malfeasance.
Then Eliot Spitzer, attorney general of New York , trained his guns on the conflicts of interest within investment banks, which often recommended that investors buy totally dud companies in order to profit from commissions. Many of the biggest names on Wall Street paid hefty fines totalling billions of dollars in settlements, and promised to create institutional barriers that would promote better governance. There followed a scandal over initial public offerings: it transpired that a favoured few clients of issue managers has obtained disproportionate allocations of shares.
Now Spitzer has trained his guns on the sector that attracts the maximum number of small investors, and has traditionally been regarded as the safest way to invest in stock markets: mutual funds. Charges of unfair trading have been levelled against gigantic mutual fund managers like Putnam, whose CEO has been forced to resign. Criminal charges have been brought against the chairman of Strong Mutual Funds. Staff have been fired in companies with names as illustrious as Morgan Stanley, Merrill Lynch and Citibank
http://economictimes.indiatimes.com/...how/278167.cms