The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Your financial adviser could be a psychopath||Date: 3/14/2013 1:50 PM|
|Author: gdett2||Number: 71488 of 75340|
but I've long maintained that the financial services industry attracts more than it's share of rogues and thieves.
While I believe this to be true, I would expand that to any area where funds are available and not properly monitored.
Locally, I have seen low-level administrators in school districts and one sheriff's office go to the grey-bar hotel for stealing public money. One of the school districts had 3 people embezzle over $300K.
Recently, a fire chief stole around $20K from his department. For a west Texas VFD, that is a large amount to lose. Personally, I would have given him life for that one.
Charities? Don't get me started there. I am sure you have seen the (name your own- boy/girl/family) that has a (rare disease/massive injury/etc) that needs money on the web somewhere. Too many have been found to be a complete fraud. Our local TV stations mentioned one of these 3 or 4 years ago then found out months later that the whole thing was a hoax. Now they only carry local stories that are vetted and normally go to a local bank.
Greed is universal to everyone. How an individual controls the urge just goes back to their moral character.
|Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|