Wednesday, August 20, 2008

Native Americans fleecing........

Native American money has been getting fleeced for decades. Most tribes don't have a clue. Whether it is tribes doing bond underwritings without competive bidding, gross negligence by tribal officials in failing to negotiate lower fees in bond deals and retirement plans, lack of exposure to the equity markets or the lack of assets being managed on an absolute versus a relative basis, it goes on and on and on. I founded Native American Advisors simply because of all the carnage I saw with Native money by the federal government.

Some days I firmly believe nothing has changed.

Today was one of those days.

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