The Financial System is All Wrong

 

I made a lot of money twenty years ago through some very innovative computer software. A few years later I made another nice sum from a medical device. A lot however was lost due to so-called professionals who put the money in so-called safe investments.

One of the problems is that the financial system is now so complicated and regulated, that hardly anyone can manage their wealth, pensions and mortgage, without all of those advisors, who sit between the consumer and the money he has or needs.

We need much simpler regulations. So that for instance, you can have very simple pensions, where you invest your own money in safe savings accounts and the government gives you appropriate reliefs and help.

The trouble is that the government is now so in hock to the banks, insurance companies and financial institutions, that it dare not upset them in case they up sticks and go elsewhere.