enigma wrote:
> "Ed Pawlowski" > wrote in
> :
>
>> Used to be, modest investment on that million would get you $50k
>> a year and the value of to dollar was still very good compared
>> to today. I'm talking back in 1970 dollars that are worth about
>> 18¢ today. That 40k a year must increase too or you won't be
>> very comfortable in 20 years.
>
> well, it's only 40k because of the current Wall St. panic. it will
> get better again.
> i'm hoping Congress has the guts to put the regulations back into
> place that they removed over the past 12 years or so, but i suspect
> they won't. having Wall St. police its self is a remarkably poor idea
> though.
> lee
>



Sensible regulation is a good idea. But the people who will craft these
regulations which are likely to be extremely reactionary and poorly
thought out are the same ones who handed out our money to the bankers
and brokers because of the "banks are too big to fail buzz" they
created. I seriously doubt the "smartest man in Congress" (barnie frank)
who insisted everything was just OK is cable of collecting the money at
an elementary school bake school let alone crafting sensible and
effective regulation.

I think the fatal flaw of letting their friends at the banks and
brokerages regulate themselves was that the government never clearly
announced that was what they were doing. Lots of folks thought otherwise.