Vanguard

Bubble Blowing: A Response to Vanguard's Bogle

No.: 
10

Vanguard’s Bogle is right: “We’re letting the nuts run the insane asylum.” But does the stock market have to be an insane asylum? Is a place that trades on irrationality the right place for our retirement savings? You be the judge. Wall Street says, “Yes!” But they get the commissions, fees, and proprietary trading platforms by which to shake down the public. Then, too, when elite traders (traitors) get bored with the rewards of mere pillage, they can use leveraged derivatives to risk the nation’s tranquility.

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