Friday, July 11, 2008

Horse sense........

One of my favorite adages on the behaviour of Wall Street is "where there's smoke, there's fire."

Seeing these massive companies get clobbered is astounding. The pricks who got these companies in such a jam and who made hundreds of millions in compensation are long gone to their sunny abodes. They should be in jail.

The common shareholders who have an ownership interest in these companies via their mutual funds in their 401-k plans are left holding the bag. Great Americans going to work every day, day in and day out, getting their retirement funds pounded quarter by quarter by the greed that these corporate chieftains brought on themselves. It is disgusting.

No one is accountable. They bring in some new chief and set him up for life to maybe "rescue" a company. The dilution of common shareholders equity is also disgusting.

Guys like Franklin Raines and Stanly O'Neill are the worst. Top dogs who fed at the trough while the going was good, knowing full well the piper was on his way. This is insanity with such little regard for controlling risk by these major investment banks.

The government is us folks. Maybe this election will be your wake-up call.

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Native American Advisors CHIPPEWA PARTNERS

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CHIPPEWA PARTNERS, Native American Advisors, Inc. is a Registered Investment Advisor, founded by Dean Thomas Parisian in 1995. The firm is a manager to an exclusive clientele and is closed to new clients. As a Registered Investment Advisor, our expertise developed over 35 years balances experience, integrity and tremendous work ethic. Dean Parisian is a member at the White Earth Reservation of the Minnesota Chippewa Tribe, a former NYSE and FINRA arbitrator and trader who began his career with Kidder Peabody and later worked for Drexel Burnham Lambert in LaJolla, CA. His philanthropic interest is in Native American education and he's endowed a significant scholarship for Native Americans at the University of Minnesota. His greatest accomplishment includes raising two sons and 26 years of marriage. The Parisian family enjoys outdoor pursuits at Pamelot, their farm in Tennessee and at the Ghost Ranch, their ranch on the Yellowstone River in Montana. For media requests contact the firm via email: ChippewaPartners (at) gmail dot com, on Twitter: @DeanParisian. Global 404-202-8173