May 5, 2009
I have personally handled a profit sharing plan for a small business since 1989. Although at times I have been somewhat leary of all the fees,commissions,costs,paperwork, and aggravation associated with the plan, I thought it was worth it (contrary to the opinions of 100% of my colleagues) for now. As I learned through the years, the recommendations of the plan holder (usually an insurance company) was more for them than for us. This was not that unusual for the investment world so I went on. In 2003 after George W. invaded Iraq (again) I removed my funds from the U.S. and put them in the largest Canadian profit sharing company. I still had to abide by the same type rules which limited the investments to insurance company funds or money market funds. I thought the money was reasonably safe. What happened at the SEC in the W years is criminal. These cronies oversaw and profiteered from the short selling and demise of the stock market. I will never have faith to put hard earned money into a system that still has George W. stooges unprosecuted for the crimes against our country.