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Reason Foundation

Itís Time for the United States to Fire Its Broker

James Groth
September 23, 2011, 10:22am

If your stock broker told you that year-to-date your portfolio is down well over 50%, would you show him the door, or would you keep letting him manage your hard-earned cash?

Below are charts displaying the year-to-date performance of America’s biggest bailout recipients. Whether or not you believe that government should be choosing winners and losers in our economy, this at least proves that they’re incredibly bad at it.

AIG

GM

Bank of America (this is including the huge investment from America’s sweetheart, Mr. Warren Buffet)

Can you think of better ways to invest a third of your income? Insiders at General Motors sure seem to think so. Over the last year they've collectively sold 336,655,434 shares. Who knows what they're now doing with our money.


James Groth is Research Associate


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