Before I go…
This is it. With bittersweet emotions, we have come to the final edition of Notes from the Investment Underground. Although without the burdens of daily writing chores I will be free to pursue some exciting trading endeavors, I will most certainly miss having a captive audience for my research and opinions.
While my time at the helm of Notes resembles Jay Leno’s shortened primetime tenure, the last three months have been quite fun. I have written for several daily newsletters in my career; none of them have been as outspoken and responsive.
Every day, my inbox was filled with the well-informed opinions of readers from across the globe. Without a doubt I will miss your additions to my inbox, even the less-than-friendly missives – they keep me on my toes.
But I don’t want the final edition of Notes to be some sappy, look back on our history together, especially since that history only spans to November.
Instead, I want this last column to be just as informative and actionable as I hope the rest of our editions have been.
With that, I take you to the hallowed halls of the U.S. Supreme Court and a ruling issued just hours ago.
The nation’s top court has decided that legislation created in 1990 that restricts the amount of money a corporation can donate to a political campaign violated constitutional free-speech rights.
With the court’s decision following party lines, the five conservative judges outvoted their four liberal counterparts. The decision can be considered yet another win for the nation’s conservatives during a week that has proved costly for Democrats.
With corporate “citizens” now able to virtually unload their treasuries in an attempt to gain favorable leadership in Washington, Big Business has gained even more power amongst the nation’s ever-greedy politicians.
While I am just about as conservative and pro-business as can be, I am not sold on this ruling. It’s not so much that I don’t feel corporations should have the same rights as citizens. It’s because I believe all campaign donations need to be limited.
The path to Washington is not filled with good deeds, fairness and logic, but is paved with the golden goodness of campaign contributions. Cash equals votes.
Imagine the next presidential election when Goldman Sachs unleashes part of its $13.4 billion bottom line on getting a Wall Street-friendly politician at the wheel. It won’t be good for the country and it won’t be good for the economy.
Now, don’t think I am laying the blame for this decision on the Supreme Court. Although party lines suspiciously decided the vote, the court followed the laws and precedents before it… I hope.
If we want to rid ourselves of a Washington that only represents special interests and lobbyists, we need to ensure politicians don’t get any more money than they need.
So I leave you with this: Do something about it!
Write your representatives, protest, join a tea party; don’t just sit back and complain. Your financial wellbeing should not revolve around what is happening in Washington.
Until we fix this mess, sadly, your wealth has everything to do with those morons.
It’s up to us to fix it.
Enjoy today and the days beyond,
Andrew Snyder
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically to your feed reader.
Comments
No comments yet.
Leave a comment