Investor's Watchdog.com: Stock, finance and investment protection for investors

As I write this, the stock market has lost more than 40% of its value, and today is shaping up to be the kind of day that could take another double digit bite out of it.  Those who have not yet fled to cash may do so today.  The near term is no doubt full of lay offs, drastically reduced consumer spending, foreclosures, and a real estate market deeply in the tank.  But, as George Harrison sang, “All Things Must Pass.”  Thank God. 

There will come a day, next year probably, on which people feel safe enough to venture back into the market.  When they do, for their sakes, let’s pray that they will take more care in choosing the brokers with whom they entrust their life savings. While individual brokers may not have created this mess, many senior citizens and baby boomers are now learning that their individual brokers made irresponsibly risky recommendations and left them over-exposed to this disaster. 

When people do venture back into the market, they can do things the old way - accepting a smile, a sales pitch, and a handshake as the only ways to choose a broker.  Or, they can choose to protect themselves and those who they hope to bless with a legacy by investigating their prospective broker through a former SEC Enforcement Branch Chief.  Only Investor’s Watchdog can give them a comprehensive report.  Let’s pray that they make the smart choice.