Paul E. Kanjorski: “First and foremost, it is one thing to lose money in the stock market if one is a direct buyer in the stock market, if…”

“First and foremost, it is one thing to lose money in the stock market if one is a direct buyer in the stock market, if one is wealthy enough to be a speculator or trader in the stock market. But unfortunately, the people that have really lost this money are pensioners and 401(k) owners, millions and millions of Americans that were persuaded over the last 20 or 30 years to become part of democratic capitalism; and they, through their pension funds and through their 401(k)s, bought into the idea that America is indeed a great capitalistic Nation and had the wherewithal to participate in the growth of that capitalism, in the creation of that wealth; and they entrusted their meager funds, their retirement funds to managers that primarily are located in and around Wall Street.”