I was lucky. My parents paid for my college education. Back in the olden days, when I was a young ‘un, that was indeed possible for middle class families. Hell, when I was a young ‘un, there was still a “middle class.”
I got a letter today asking me to contribute to some memorial for Ronald Reagan. I shall answer it with an envelope full of subscription cards for The Nation, hoping that the senders will read it and learn something.
But they won’t.
We get a lot of mail inviting us the “free meals” to learn about “exciting investment opportunities” to provide “financial security.”
So does Tony Brown.
We always chuck the mail directly into the round file, but Brown decided to accept some of the invitations. He writes of them at the Minneapolis Star-Tribune. Here’s a snippet (emphasis added):
I get all these lovely invitations because a) I’m over the age of 60, b) I’m breathing, and c) people attending these dinners often hand over lots of money to their hosts before they get to their seasonal dessert. These alleged “financial planning” events are examples of the ways that billions of dollars from the nation’s precious retirement nest eggs are being diverted into the pockets of these very nice financial-planner people.
This issue — the financial-services business’s habit of exploiting rather then helping people who are preparing for retirement — is why the Obama administration in April enacted so-called “fiduciary” regulations for financial planners and advisers.
These rules will require the financial-services industry — for the first time — to conduct business “in the best interests of their clients.”
You thought that already was the obligation. It is not.
The sucklers at the public teat aren’t who you think they are.
You can’t make this stuff up. (Actually, these days, you could, but you don’t have to.)
In an stunning example of “if you don’t let people talk about it then it must not be happening,” a coal waste company sued a citizens group for slander because they complained about the ever-present effects of the dust blanketing their community from the ash pit.
Just follow the link.
You can’t make this stuff up.