Wednesday, July 30, 2008

Time for consumers to take control of financials

Dear comrades, don't you think it's time for us to take control of our own destiny and take over at least some functions of our financial industry? It's time to consider whether financial and securities should have monopoly over our banking, financial and stock markets.

The financial industry breeds huge fat cats and they are nothing but just fat cats. Why? Look at the mess they have done to their own companies. If the US government is a little less generous, many of their companies may have ended in absolute failures now. So why soon our world pay any special respects and money to the fat cats in this messy financial industry?

If lawyers make a mess of our legal system or politicians make a mess of our country, we should get rid of them and the same applies to the fat cats in the financials. It's time for layman consumers and investors to come out and form their own financial companies, investment vehicles, their own "mutual funds" or retirement funds, their own stock exchanges, without any need to pay fat checks to fat cats! We all know that a great deal of the returns from our mutual funds are actually eaten up by management fees and disguised charges of fat cats!

Time for us to revolt and demand fairer rights and powers as consumers and investors. We must fight to become the real rulers of this world in this 21st century. Don't leave this revolution to our future generation or you will be blamed by your children or grand-children.

I think the US government should set up a good example by forming an independent body to enable ordinary consumers and investors to carry out their own banking, financial, securities and other related activities themselves without using the big banks, investment companies, stock exchanges, etc. Just get rid of the fat cats in the messy financial industry will be applauded by everyone even those inside Wall Street.

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