Wednesday, June 17, 2009

A Parallel Tale for Mr. President

Mr. President. I have seen on Fox News and in your recent comments that you feel that Fox is out to get you in some way. No Mr. President, I do not believe that is the case. If I may, I would like to give you a parallel example of what is really going on.

You see Mr. President, I am a financial adviser who happens to be with a Registered Investment Adviser firm. A fellow named Mr. Bernard Madoff owned a Registered Investment Adviser firm as I am sure you are aware. This Mr. Madoff character was quite an unsavory adviser and swindled not millions, but billions of dollars from very well educated, trusting and unsuspecting investors. People did not sit quietly when they discovered what had happened. There was quite an uproar from these suddenly poor investors, some of whom lost everything. Who can blame them? I pray that they are able to regroup and move forward in their lives appreciating their many gifts from God.

As a result of Mr. Madoff's shenanigans, my fellow financial advisers and I have been thrown into a pit of distrust like it or not. Everyday, we go to work doing what is in our client's best interest, like we have been doing for decades. We sacrifice our own interests for the sake of our clients, not because we have a fiduciary duty to do so, but rather because it is the prudent thing to do. You see we are in the business of helping people solve their problems and we are very good at it. We have a good way of communicating with people, not unlike yourself. Registered investment advisers are the cream of the financial advice delivery crop.

Now, I have to tell you that I read a lot of trade publications from our industry and the story is not pretty. Financial advisers as a group are suddenly being labeled as untrustworthy because of the antics of Mr. Madoff and other Ponzi schemers. These people had no other motive than to line their own pockets. Some financial advisers are getting out of the business. Others are seeking psychological help. Scores of financial advisers have lost considerable revenue and had to lay off long term employees. New and more onerous regulations are going to come down the pike and that will cost us all more money. All because of Mr. Madoff and people like him. Like I mentioned earlier, it is not a pretty situation.

Quite frankly, Mr. President, we do not like being labeled as untrustworthy. In fact, we resent it, especially since we have lived a life doing for others before ourselves. So, we can understand why you feel the way that you do about Fox News.

What I wanted to point out is how parallel our lives have become. You see, Mr. President, you are a politician. For the last decade or so, a lot of Americans have been very dissatisfied with the work of their Congressmen and Congresswomen. That train of disgust for politicians was moving down the track pretty fast when you jumped on it. Now, you are on a train full of politicians that most Americans are fed up with entirely. These politicians are spending our tax dollars in the same way that Mr. Madoff confiscated the wealth of his clients. At least we could see that he was prosecuted and thrown in jail. As Americans, we feel completely powerless with these politicians. You, Mr. President were the man with the plan for hope and change. We trusted you, because we believed in you. Not unlike the way our long time clients trust us as financial advisers.

Just as my fellow financial advisers disdain being mentioned in the same breath as Mr. Bernard Madoff, we can understand why you do not like being criticized by Fox News in the same breath with those crooked politicians. The only way for you to prove that you are a politician that does not belong on that train full of crooked politicians is to take control of that train. You should not shy away from Fox interview requests.

You see, Mr. President, me and my fellow financial advisers have to sit and listen to a prospective client blurt out question after question implying that we are distrustful. This is all because of Mr. Bernard Madoff. I have to tell you, we do not like it when people attack our credibility and we understand that you do not like it when Fox News attacks your credibility. However, Mr. President, the politicians in Washington have dragged you onto their train, like it or not. You are a politician just as I am a financial advisor and we both are tainted because of the likes of others. I am sure that you believe that you are better than the politicians in Washington. My fellow financial advisers and I believe very, very strongly that we are much better than the Bernie Madoffs of the world.

Do you see how parallel our lives really are, Mr. President? Like it or not, you are associated with unsavory characters in Washington. Like it or not, we financial advisers are associated with Mr. Madoff and these other Ponzi schemers. Like it or not, these crooked politicians are spending billions of dollars of our money and we are screaming loudly about it. The people at Fox are helping us scream a little louder. We are screaming at the train Mr. President. If you are merely a passenger on the train, then you will get screamed at too. If you do not want to be associated with those crooked politicians, then take control of the train.

If we financial advisers can sit still and be accused of being dishonest and make it through an interview, then so can you. Do you know why we can do this? Because we know the truth that we are people with integrity and we can be trusted.

Mr. President, if you do not answer the questions from the people at Fox, then would you not be like a financial adviser who refused to answer tough questions? Let me ask you. Would you want to do business with a financial adviser who would not answer your tough questions? I hope you see the parallels.

Do the right thing and do not shut out the Fox News Channel. To do so would be to shut out the American people. After all, you are the President of all of America, sir.

We all want you to succeed and we are all praying for you. God Bless you and God Bless America.