Aid for wealth managers…

The US government is pouring out AID this week to a number of financial companies under several of its recently instituted ‘support’ programs.

Citigroup, Goldman Sachs Group, JPMorgan Chase & Co., Wells Fargo, and GE Capital are now in various stages of selling bonds backed by the government, thus lowering the rates they would have otherwise been required to charge.

For those people who have not heard these names, they are the ‘wealth’ managers. Some of their employees may have called you to ‘manage’ your wealth. For this they will sell you nice lovely looking products.

Now they are on Aid. Well their behavior in the past 20+ years will now be under scrutiny. Hopefully they will change…we all live on hope, do we not?

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