Here’s my commentary on Doug Casey’s commentary:

An Inside Look at one of the Biggest Scams in America

http://www.dailywealth.com/archive/2009/apr/2009_apr_25.asp

Doug Casey is someone who has been around for a very long time and I really enjoy his musings.  There is not much he and I would disagree on (he even uses a bit of profanity).  This article is one example of why I went ahead and decided to work our own internal investment positions instead of buying the standard liquid stock portfolio.

The problem of poor American management has been going on for a long time and is at least seriously (if not exclusively rooted) in the strong regulated history between government and Wall Street.  It was Wall Street firms that initially supported the creation of the SEC resulting in a substantial decrease in competition among US companies.  Add to that the account system developed and pitched by the AICPA (most of which are glorified tax collectors for the government) that incentivizes management in ways entirely out of alignment with shareholders, and you end up with a system that…  (well, that’s what Casey wrote about in his article).

Nihil Nova Sub Luna…

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