Two days ago I wrote that the financial community cannot be trusted with your financial future, since recent history proves their dismal (catastrophic) record. Investment companies and banks failed and these are the same "expert" advisers and custodians of your financial assets who want to advise you again now! They could not even keep their own companies afloat, yet they would like to help you lose more of your money if you are willing to buy their igloos in the sub-Sahara desert.
Besides outright criminal activity (Madoff, Stanford, etc.), the sheer incompetence of these charlatans is monumental. To incompetence, add cluelessness, and you know why the world is drifting off a financial cliff. NO ONE has explained the scope and extent of the problem or the SOLUTION (except on standard partisan lines - tax cuts, spending cuts, tax increases, spending increases). Economists and stock market experts are not able to rely on ECONOMICS 101 or STOCK MARKET 101, but instead of admitting their ignorance, are going back to the same failed and tired lines of the past. Not a pretty sight. If you have about 8 minutes, go to The DAILY SHOW (http://www.thedailyshow.com/) and then click on the "CNBC video". Not to pick on CNBC alone, but similar "advise" was offered around the world in parrot-like fashion. How many of them are willing to admit they were wrong, offer an apology, let alone some restitution to the millions of people around the world who lost their life savings? It brings to mind one choice you might have heard previously, paraphrased for the current situation: confronted with a snake or a "financial adviser", take your chances with a snake. George
