APRIL 2010

I think not.

The stock market has evolved into a great net to gather in the middle class. Consider the bubbles of recent years---start with the dot com bust.  Look at the collapse in 87. Then consider the great collapse of 2008. Vast amounts of middle class wealth was destroyed.

Rather than "bail out" the states, the Feds chose to bail out the thieves. (Note: Please read 'Fools Gold' to understand how wild speculation and manipulation of accounting of risk as well as removing regulation nearly destroyed our entire economy)

Forget the "DOW" and look at productivity, balance of trade and debt. Toss in the unemployment rate and you've got a pretty good picture of economic health.

Consider this. Within a year after the great crash of '29 the market had recovered most of its loss. The depression lasted well into 1939.

Is this about ethics?

It sure is.

We need banks to be banks. Banks shouldn't be one-stop shops for all our financial 'needs'. Banks should safely house deposits and offer loans of minimal risk. Banks should not sell insurance, derivatives or hedge funds. Banks should not be in the consumer credit card business.

When the DOW recovers, the wealthy profit. When unemployment drops, the rest of us recover.