Is my money safe?

Is my money safe?
The new president says put it in stocks – the “profit and earning ratio” is pointing to a potentially good deal for buying stocks. Wha??? Where is Saturday Night Live when we need them? TheFundamentals is familiar with an important stock evaluation tool – price/earnings ratio. Could our Harvard educated, high IQ kid mean the price earnings ratio? How can you spend trillions, assure the public that you are the one, jet around the country making nice-nice and then drop a Bushie on us when we are worried about our money?
But what about the money invested in my house, the money in my Fidelity Account (or maybe in Schwab or Vanguard or CA bonds or US Treasuries and so forth?) Is it safe? What about my IRA or 401k or my life insurance policy? Maybe you don’t get a big government pension. At least you get to pay for others to get those pensions. Is the little bit of money I have left safe?
In 1934 the Securities and Exchange Commission was created. Hallelujah. They even appointed one of the most honest, law abiding citizens to run it back then – Joseph P. Kennedy. Yep the same guy who made a killing in bootlegging. Holy cow is this a great country or what?
Here’s the purpose of the SEC as gloriously posted on their website http://www.sec.gov/
“The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.”
Oh boy, at least someone is going to protect me! They go on to say, “The world of investing is fascinating and complex, and it can be very fruitful. But unlike the banking world, where deposits are guaranteed by the federal government, stocks, bonds and other securities can lose value. There are no guarantees. That's why investing is not a spectator sport. By far the best way for investors to protect the money they put into the securities markets is to do research and ask questions.”
Wow, stocks and bonds can lose value. Not a spectator sport. Sounds like BHO talking. So the SEC says it will oversee “the key participants in the securities world, including securities exchanges, securities brokers and dealers, investment advisors, and mutual funds… …maintaining fair dealing, and protecting against fraud.”
In the fiscal year 2008 that wisdom, research, asking questions, overseeing advisors (now that’s a rich one) protecting against fraud and so forth cost the American taxpayers $974,000,000.00. Yes folks, almost one billion dollars. To reward this fine effort, BHO (aka profits and earning ratio guy) is raising the budget by a modest 13%! That’s more than just change folks. That’s serious money.
Is my money safe? Well an honest answer from the SEC would be, "It sure as all hell isn’t safe with us!! But, at least it’s been pretty darn “fruitful” for our employees. So, thanks."
Here are two questions TheFundamentals would like to ask. “Who protects us from government employees who don’t do their job?” “Why aren’t these people ever fired?”