Me, and the rest of the country.
I wouldn't advise putting all your money in a bank account. Small businesses can be risky, if you don't do the appropriate research and planning, but that's true about any investment. Generally, franchises have about a 75% success rate, because you are following a true-and-tested business model.
Also, the internet allows for starting a businesses with a small investment. You can import low-cost goods from China (e.g., toys, electronics, lingerie, clothes, etc.) and sell them on e-bay or on your own website. You don't even have to pay rent for a brick-and-mortar store.
I'm not going to say that all traders are unethical, but would you at least admit that there is a conflict of interest inherent in the industry, because traders are encouraged, pressured and/or enticed to sell certain products that are not always in alignment with the best interest of the client?
There may be a lack of understanding of the particulars and technical aspects of what is reported regarding "Wall Street", because some of the investment vehicles (e.g., derivatives, Mortage-Backed Securities, Collateralized Debt Obligations, etc.) were so complex that even the CEOs of Wall Street firms don't understand them. But, the essence of it all is very simple - arrogance and greed.
Many people anticipated the bursting of the real estate bubble and warned about it (all bubbles must eventually burst, its just timing that makes some people big winners and others big losers), but the Wall Street firms were making easy millions selling derivatives, MBS, CDO, etc., and they did not apply the brakes to mitigate the looming catastrophe - full speed ahead, ignoring the imminent trainwreck looming ahead.
Basically, the Wall Street firms were counting on the US taxpayer to absorb all the losses when the real estate bubble finally burst. This was to occur in one of two ways: (1) the government would subsidize homebuyers, so that they wouldn't default on their mortgage and lose their homes (this did not happen, except to a very slight degree) , or (2) the government would bailout financial institutions that were "too big to fail".
Hedge Fund Manager John Paulson knew about that the bubble was about to burst, and he got Goldman Sachs to create investment vehicles designed he make him a billionaire (and his pals uber-millionaires) when the pop occured. Who did Goldman Sachs sells the other side of these investments too (the losing end of the stick with meteoric potential losses)? Its other customers. Either way, Goldman Sachs makes its commmissions.




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