Safe Mode: On
Can You Ever Again Trust Wall Street? No

Can You Ever Again Trust Wall Street? No


For many investors, the market's turbulence hasn't just destroyed wealth. It has shattered their faith in the financial system itself.
Consider Philip Eberlin, 56 years old, who runs a woodwork-restoration business in Chicago Heights, Ill. Trading hot stocks a decade ago, Mr. Eberlin got burned on picks like Krispy Kreme and Tyco. In 2007 he got back into stocks, only to take another hit.

"Having been burned twice in 10 years," says Mr. Eberlin, he now has about 80% of his family's assets "protected from the market" in certificates of deposit and fixed annuities. "I don't have trust in Wall Street to help the small investor in any way, shape or form."
Mr. Eberlin isn't alone. Late last year, Decision Research of Eugene, Ore., asked Americans how much they trusted bankers and other Wall Street leaders "to reduce the risk of the financial

-

Added: Feb-8-2010 Occurred On: Feb-8-2010
By: BOMBBOMBIRAN
In:
LiveLeaks
Tags: fed, banks, wall street, mepublicans
Views: 9119 | Comments: 14 | Votes: 1 | Favorites: 0 | Shared: 0 | Updates: 0 | Times used in channels: 1
You need to be registered in order to add comments! Register HERE
Sort by: Newest first | Oldest first | Highest score first
Liveleak opposes racial slurs - if you do spot comments that fall into this category, please report them for us to review.
  • Comment of user 'gregory_peckory' has been deleted by author (after account deletion)!
  • yea...i trusted them 10 years ago.....put 400k in mutual funds......Now i have less than 200......and i never touched a penny......10 years and I haven't had a positive capital gain year yet.......should of just got a CD and took the 5% interest.

    Posted Feb-8-2010 By 

    (2) | Report

  • What do we want?!

    CLASS WAR!

    When do we want it?!

    NOW!!

    Posted Feb-8-2010 By 

    (2) | Report

    • a race war would turn into a class war also.

      Posted Feb-8-2010 By 

      (1) | Report

    • Dude what are you going to do in race war? Shoot yourself in the head? You even told me you're half black and white. What are you going to shoot yourself in the right lobe of your brain? Seriously you're a mutt and you don' even follow the white mans mythology. May Odin and Loki strike ye down impure piece of shit!

      Posted Feb-8-2010 By 

      (0) | Report

    • Uh... Armorer_WP1488 told me he wasn't a pure breed white man and stated he was "half ape".

      Looking at your profile picture I can tell your are a half breed with an inferior race. Explain that blacky.

      Posted Feb-8-2010 By 

      (0) | Report

  • for me to answer that question, I would have had to trust them in the first place. which i did not and still do not.

    Posted Feb-8-2010 By 

    (1) | Report

  • Wall street is Bush, Obama, Palin, Rush, Beck, all those people who want to run things. They are wall street. Middle Class should only trust Middle Class. All others are lying

    Posted Feb-8-2010 By 

    (0) | Report

  • Nice little problem there eh? Until you trust it, it the economy won't recover... don't ya love how they fucked ya?

    Posted Feb-8-2010 By 

    (0) | Report

  • You know, if wall street doesn't pay out huge bonuses, NYC will go under. The city relies on these bonuses to impose absolutely insane taxes and keep the city running.

    Posted Feb-8-2010 By 

    (0) | Report

  • I wonder who the author of this story is?
    I do not share his opinion.
    I have done, and continue to do, relatively well with the stock market. There have been a few ups and downs, of course, but I average a return of about 8% every year. Maybe he, or Mr. Eberlin, the woodworker, properly understand how to buy and sell stocks for themselves. There are several good books out there that will teach you. But they can seem very dry and boring to many.

    Posted Feb-8-2010 By 

    (0) | Report