NLIC.org

Randall Said:

How long to you think the rich are going to float the bill before they leave the US with their money?

We Answered:

I'm not really a specialist in this area at all, but I get the impression a lot of the issues that we are all experiencing now are because of fraud in the American investment scene.

If I was the president of a traded company and found that my company had been losing out on because money intended for legitimate investment in companies like my own had been stolen, hidden and not invested, I'd be wary as well. Certainly, I'd consider moving to a locale where there are controls in place to protect the business, it's investors and employees (even if they sadly have to be new ones). Commitment to the enterprise sometimes takes precedent over loyalty to a location.

I wouldn't be too quick to fault the businesses; they are most likely making sound decisions to protect their own enterprises. I would be quite quick to fault the rich who stole investors' money and rode their unearned yachts into the sunset.

I also think that we've only scratched the surface to the fraud. I think there's much more than we could ever had imagined and that the proverbial $hit will hit the fan regularly over the next while. Know a hedge-fund manager anyone?

On an aside, I believe it was men like McCain who allowed this ridiculous problem to begin and continue.