Free Market Financial System?

As I watch what is going on in Wall Street, I reflect back to the days of Enron and World.com and I'm more convinced than ever that we do not have a "true" free market financial system any more. What we have is a play ground for the wealthy and those who think they know it all. These are the folks who "like to make big deals" and receive big commission checks. In their arrogance, they look down on the "little people" who provide them the money that they so freely spend at no risk to themselves. Jesus says, "What does it matter if you gain the whole world and loose your life?" This question can be applied to our nation and those who drive its financial sector, "What does it matter if you gain the whole world and lose a nation?". What is the bottom line in all of this? Individual and corporate GREED!!!

So what does that mean for me as a consumer and investor?

Well, I will be putting my money in investments that are guaranteed by FDIC or real estate property. By purchasing real estate I accomplish two things: 1) I can provide housing for others (renters), which allows me to help my fellow man; and 2) I will receive an income. At least with real estate and FDIC insured investments I can control their usage without fear of loss of my investment due to the wild ideas of some money manager in a New York City brokerage house. I have lost all my respect, confidence and trust of big investment firms...they too don't know what they are doing. The loser will always be the hard working American, who is trying to save money for future retirement.

Giving my hard earned money to Wall Street, where they say "trust me"...is not the brightest thing for me to do. $700 billion dollars as a bail out...? While as a nation we may have no choice to save our economy and financial future, it is important to me that Wall Street work hard to return to private sector monetary sources as quickly as possible and return the loaned tax payers funds back to the American government as fast as possible. I hope that Congress has sense enough to "fire' the top executives and money handlers of these corporations before they give them the funds and hire people who can be trusted to protect the tax payer and investors in their daily financial decision-making. I also hope that Congress has sense enough not to pay large severance packages to executives who have brought their corporation and our nation to the brink of financial disaster.

Currently I save 15% of my earned income. I don't want to have some "free-thinking, money grubbing, speculator" in a brokerage house spend it on a poor financial strategy, dumb idea or speculative impulse.