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David Dodd

David Dodd is a Reader contributor. See staff page for published articles.

Wall Street Traders Bring Home Far More Than Brain Surgeons

99% of the population has no business "investing" as people like to call it. I prefer the term "gambling", because that's exactly what it is. Jeff's right Don, and so are you. I used to make a boatload of money at the track. Saturdays and holidays and big advertised races were the best. People that had absolutely no idea what they were doing decided to go bet millions of dollars on equines they knew nothing about. I depended on it. It was great. I never encouraged a single one of them to do this. Go work for Acme Incorporated, stick around for a few years, and they'll offer you a awesome retirement plan. Give a percentage of your paycheck to people you'll never meet, and they'll go play the ponies, except they'll call it investing, and the track is called "Wall Street". You want to know why the government bailed out Wall Street? Because they encouraged people to hand over their money that way. Meanwhile, people that actually study the horses and understand the game, are going to rake away a big profit. You want to blame those people? Blame the government. They set up a bunch of suckers. We never really had a "free market", because the banks that are a part of the Fed are puppet strings. The economy is a flowing river and the market is a boat. You float that boat on the river and it goes where it goes. You tie a string to the boat, like the Fed did and does, and it isn't free. It's connected. We've never seen a true "free market" in the U.S.
— January 19, 2011 5:08 p.m.

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