It Takes One To Know One
My good friend Susanne was relaxing in the Tennis Lounge, reading today’s Wall Street Journal, and coughing like she had something caught in her throat.
I asked her what was wrong.
She looked up and winked at me. “It says here that Barney Frank and Chuck Shumer want to enact a new law requiring brokers and investment advisors to look after their clients before themselves.”
Isn’t that what they should be doing?
“Of course, but so should Shumer and that twit Barney Frank.”
Persons in Congress do tend to look after themselves first, don’t they?
“Every hour of every day. Look at Chris Dodd from Connecticut getting special mortgage deals from the very people he’s pushing Fannie May to support with bad loans. Is that an abuse of fiduciary duty or not?” Now these people all want us to blame stock brokers for their own abuses. It’s really laughable.”
So, you’re saying Congress needs to be regulated too?
“That’s a very good idea. How can we do that?”
We could get someone to run for office against them . . . demanding change.
“Didn’t we already do that?”
Apparently not . . . in the case of Democrats in Congress at least.
“How about the guy that did run on a change ticket? Maybe we can get him to regulate his mates in Congress.”
Don’t forget the separation of powers set out in the Constitution.
“Oh, yeah, you’re right. So, it’s left up to the voters. But don’t they tend to put their own interests first too?”
Maybe they need to know what those interests really are.
“They could ask Nancy Pelosi. She’s very rich and knows everything.”
Now, I was coughing.
