President’s State of Union Address
Why is it when one of our stockbrokers advises an investor to put his IRA money into stocks of the savings and loan industry, a group of corporations that lend money to encourage the housing industry and that is overseen by government regulators, we are labeled as speculating, but when President Bush advises them and sets up tax incentive to outright encourage them to take out their retirement money to buy a home (likewise not an area of great success over the last couple years) he is called a champion of the small investor?
All the President really is doing is helping his friends in the real estate industry by giving them access to IRA funds to support their speculative home building.
ALBERT C. FARRELL, Beverly Hills
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