Wall Street. The very name commands awe and respect for the intrigues and shadowy nature of its present and past. Most folks, despite the scandals spanning decades, believe that Wall Street is geared toward ordinary investors and that stocks offer a universal path to wealth creation. This myth is highly advantageous for the powerful and wealthy institutions and individuals. The hardcore truth is most Americans have more debt on their credit cards than money in their mutual funds. Barely a third of households hold more than $ 5,000 in stock. Close to 90% of stock market gains consistently go to just the top 10% of households. Yet, when shit hits the fan it is often ordinary investors who feelthe sharpest pain - pain that many will cope with well into retirement.
Is the system rigged to favor the disgustingly rich?
Check out the following Frontline documentary and draw your own conclusions.
You can read the transcripts here, or even better watch the entire program online here. It is highly recommended for anyone that does any investing, especially if you have any lingering beliefs that the system is even remotely fair or honest.
Also, Doug Henwood released his book "Wall Street" to download for free. It is a definite eye-opener: http://www.wallstreetthebook.com/
Is the system rigged to favor the disgustingly rich?
Check out the following Frontline documentary and draw your own conclusions.
You can read the transcripts here, or even better watch the entire program online here. It is highly recommended for anyone that does any investing, especially if you have any lingering beliefs that the system is even remotely fair or honest.
Also, Doug Henwood released his book "Wall Street" to download for free. It is a definite eye-opener: http://www.wallstreetthebook.com/
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