First, and foremost -- it's like he's never heard of Franklin, PIMCO, or Blackstone, Fidelity, or any of the other powerhouse asset managers who directly serve the 99% via their mutual funds and asset management services.
delmoi, I truly hope someone else handles your finances. I tried to write a response to your comment but I just gave up. You seem to know a decent amount of things about this topic but your insights are so bizarrely wrong. You need some sort of finance psychiatrist to work out what's going on in your head.
I've heard that stocks have supposedly outperformed every other asset class over every twenty year period since the great depression (that's probably not the exact figure)
One memory particularly troubles Theckston. He says that some account executives earned a commission seven times higher from subprime loans, rather than prime mortgages. So they looked for less savvy borrowers — those with less education, without previous mortgage experience, or without fluent English — and nudged them toward subprime loans.
These less savvy borrowers were disproportionately blacks and Latinos, he said, and they ended up paying a higher rate so that they were more likely to lose their homes. Senior executives seemed aware of this racial mismatch, he recalled, and frantically tried to cover it up.
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