No. of Recommendations: 1
You're right, of course, but the problem is that unions are perceived as being first and foremost about the protection and welfare of its members. As I said before, AARP steering its members toward funds with ridiculously high expenses is another example. The assumption most people make is that organizations like these exist for the benefit of their members, and if they endorse a particular investment, they must deem it in the best interest of their members.

Right. You did read the rest of my post right? :)

The fact is that tons of Americans make stupid decisions based on advice from people who they believe should have their best interest at heart and don't.

And that the additional problem here is that this is coming from an organization who provides them all sorts of other benefits. So teachers have even more of an excuse to make the same mistakes that tons of other people make without nearly the same level of deception - i.e. its coming from someone they think they've been taught to trust.

And that we should get on our high horse and talk about how the people are wrong and its all their faul. Are they wrong? Yes. But where exactly are they supposed to turn to learn the right answers? Hope they stumble on the Fool?

They're going to the union - who they've learned to trust - to *get* the right answers, and are being screwed. Most people just go to brokers - who they just trust because they don't know what else to do - and get screwed. In my book that gives me more sympathy for the teachers than for the general public. People don't have many places to turn that they can trust. Or at least have no way to differentiate those from the ones they can't. And the untrustworth ones have the louder voices because they collect all the fees for advertising.

Or maybe you were agreeing with me and I just took it wrong :)
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