Dealing with financial greed

Wall Street greed is one of many explanations being offered for the economic crisis.  To the extent that greed is a part of the problem I think it is the greed of most of us that counts.

Most of us have wanted the highest possible returns on our savings and at least as many mechanical and/or electronic toys as our neighbors.  In this respect the 99 per cent are little different from the one percent.

On top of this so many people appear to be ignorant about financial matters and feel they have no option but to trust an expert such as a financial adviser or a bank manager.

Greed plus ignorance makes one the ideal victim for a scam.

Having said all that I would draw your attention to this column from the Washington Post titled “10 inviolable rules for dealing with the sharks on Wall Street”

The column was directed at people with firms or organizations dealing with Wall Street.  But it seems like good advice for any one dealing with the financial industry at any level either as a borrower or a lender.

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