kmanm

Obama's Financial Proposal: Why It's Too Soon for Reforms

People are losing confidence in the system and rightly so. The problem is that corporation board members and CEOs are now in the same bed. There is no accountability. The CEOs are willing to find a way to cook the book for short term gain hurting the companies in the long term. Personally I started investing in late 1990s right after college. Everyone told me to take a risk as I was young and I did. Shortly I got burned in tech crush. I continued to invest in real estate, consumer products and etc. In 2008 I got burned again. Yes, some of the mistake was my stupidity but the fact is there are lots of fraud in wall street and the average joe is paying the price. We need more transparency and protect the average investor. CEOs compensation but be tied not to a short term gain but a long term gain of a company. We need to encourage CEO's to thing long term.

I personally will not invest as I did unless things change in Wall Street. We need more oversight and more accountability. Too much fraud. I am happy stashing my cash away, buying land and gold.