Too Soon
July 19th, 2010 | Editorial Cartoons | 1 Comment
TweetFinancial reform actually passed. Another victory for Obama, despite the furious objection of the other party and their Wall Street masters. Much too late, of course, and not strong enough, but at least they’re turning the Titanic slowly away from the deregulatory daze that got us into this mess in the first place. That’s little solace to those of us who have watched our investments dwindle. We could use a little old-fashioned irrational exuberance. Where’s the next bubble going to come from if Wall Street is held accountable? I’m going to have to go back to making money the old-fashioned way, by working for it. And I don’t like it one bit. Let’s have one more round of insanely inflated stock prices. This time I’ll get out when I have enough to retire, and I won’t care when the inevitable bust comes. Then you can regulate all you want. Sound like a plan?
Topics: 401(k), banks, cartoon, Congress, economy, financial reform, opinion, stock market, Wall Street


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Ed,
I’m not sure you’re going to get that “one more round”. You should have learned your lesson in 2000, like I did, getting crushed with all those great stocks I owned like Intel, Cisco and Microsoft. If you had invested in a conservative bond portfolio/fund back then, you’d be up about 80% today. The Total Stock Market Index has basically been flat for the last 10 years. I’d still have to be working if I hadn’t made the switch.