It is so frustrating to me that there is no capacity at all withr the folks managing these companies to see how negatively they impact everything. Yes, everything. You see, when they take their unearned and certainly undeserved fees, they take it from you and me. From the folks who start new companies. From those company employees. From the folks who buy that company’s goods and services. They take money out of the pockets of teachers and other public workers because the fees lower the amount of money in the pensions that invest with these jerks. They rapaciously steal money from all Americans and think they deserve and should be allowed to do so unfettered and, get this, untaxed!
Money disappears the community at large and sinks into the ever growing bank accounts of these scum bags. And guess what, not only do these craven and morally bereft jackalopes pay themselves ungodly fees they never earned, they also DO NOT PAY INCOME TAXES on most of those fees. That means, that after they are done sucking more money out of the economy than a Dyson on steroids, they pay very little taxes on that money which further depletes our economy.
Guess who (besides the guys I’m running out of good names to call that run the funds) doesn’t want this behavior stop? Guess who believes this sort of activity is American and good for us all? Your Republican and Democratic Senators and Congresspeople. Seems politicians are the only place these fund managers feel good ‘giving a little piece of the pie.’ An enormous, $3trillion pie it is!
Thanks Pat Britton for sending this to me. Now, excuse me while I go vomit.
Matthew Everson (CA Insurance Lic. #0C73126) is a Registered Representative and Investment Adviser Representative with/and offers Securities and Advisory Services through Commonwealth Financial Network, member www.FINRA.org/www.SIPC.org, a Registered Investment Adviser.
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