Sagacious Financial Advice From A Financial Sage (Nov. 2, 2009)
“Son, I’ve got two pieces of advice for you. One, never let your investments out of your sight. Two, never give your money to someone else to invest. And while we are at it, a third piece of advice. Never trust a banker.”
The work “banker” is derived from the word for “bench” because individuals waited on a bench to obtain a loan. We may need to bench the bankers. The entire economic system is premised and predicated on trust and yet the entire American economic system is built on deception and mistrust.
Bumper stickers of the week:
Re-enact The Glass-Steagall Act
Never Trust a Banker (What about a credit union officer?)