Monday, January 12, 2004
Mutual funds lobby against your interests—with your money!
Via MSNBC, from WaPo
Part of the Bush tax!
How could this be? Could it be because Bush has been bought and paid for by the financial industry?
Mutual fund investors might not be surprised to learn that the companies that manage their funds actively lobby Congress and the states regarding regulation of their industry. But they may be startled to learn that these managers have lobbied hard over the past decade for policies that investor and consumer advocates say often run counter to the interests of average mutual fund shareholders.
Part of the Bush tax!
How could this be? Could it be because Bush has been bought and paid for by the financial industry?
A new study released Thursday shows that employees and political action committees of brokerages, banks and credit companies make up 6 of President Bush's top 10 career contributors, a clear indicator of his increasing support from the financial sector.
