Advertisement
YOU ARE HERE: LAT HomeCollectionsLos Angeles

The fundamentals are missing

September 26, 2008

Re "Back-to-basics investing," Opinion, Sept. 22

After describing how a credit default swap works, Kelly Candaele asks, "At what point in this elaborate series of maneuvers is the economy enhanced and American workers' standard of living increased?" Obviously, the answer is: at no point.

Our financial system is coming apart at the seams because our financiers are creating complicated instruments that no one can understand instead of companies that invent and build the products that will keep America at the forefront of the world economy.

As we continue to fall behind in this most important task, our national debt will make us more beholden to China, Russia and the Muslim oil countries, and we will have lost our freedom.

Is this any way to run a country?

Gerald Sozio

Los Angeles

Advertisement
Los Angeles Times Articles
|
|
|