community
By Eric Schneidewind
In the wake of countless fi-
nancial scandals and the near collapse of Wall Street, Ameri- cans want to know that the money they put aside to send their kids to college or retire is safe. They want to know who they can trust to protect their investments.
Today it seems Americans
just don’t know where to go for sound investment advice, who is certified to advise them about where to put their money, whether the product being recommended will meet their needs, and what they can do if something goes wrong. What they do know, however, is they want Congress to es- tablish clear rules of the road that put investors first, not the big banks and credit card companies that caused the fi- nancial crisis.
AARP released a survey last
month showing overwhelming support for financial reforms and consumer protections among Republicans, Demo- crats and Independents age 50 and older. More than 9 in 10 people believe banks should be required to use plain lan- guage to explain the terms and conditions of products; companies that manage 401(k) retirement plans should be re-
THE MICHIGAN CHRONICLE
AARP urging U.S. Senate to put constituents first
anyone with stocks, bonds, a 401(k), an IRA or an E-Trade account.
Late last year, the House
Eric Schneidewind
quired to explain the fees they charge to participants; invest- ment companies should be required to disclose the costs, risks and benefits of all the fi- nancial products they market; and consumers should be able to check investment advisors’ records to see whether they have had any prior violations or been charged with profes- sional misconduct. If these are protections Americans can agree on, why can’t the Senate, too?
The Senate/Congress is at-
tempting to write financial reforms that could include protections for investors --
The Magic of Mediation” Gala will be hosted by Oakland Me- diation Center on Friday, April 9, from 6 p.m. to 10 p.m., at the Auburn Hills Marriott-Pon- tiac at Centerpoint.
Individual awards will be
presented to honor the extraor- dinary efforts of The Honorable Wendy Potts; The Honorable Stephen Cooper; Thomas M. Cooley Law School Dean, John Nussbaumer; and practicing attorney and mediator, Jon H. Kingsepp. OMC acknowledges the generous sponsorships of Nino Salvaggio International Marketplace, Rose Printing
Services, American Staffing Assurance Company, Thomas M. Cooley Law School, and William & Kathy Brodhead, all of whom have allowed a magi- cal celebration to become a re- ality.
“Twenty Years of Magic -
The Magic of Mediation” Gala will include a cocktail hour with hors d’oeuvres and stroll- ing entertainment, a multi- course dinner, and an awards ceremony honoring four ex- ceptional individuals whose dedication to OMC has set a precedent for greatness.
Seasoned magician and
passed a bill that stood up for investors by creating strong consumer protections. The legislation would increase standards for fiduciary respon- sibility – a fancy way of saying, requiring investment advisors to sell you products that are good for you and not just be- cause they are going to make a cool buck on commissions. It would also create a consumer watchdog – a Consumer Finan- cial Protection Agency (CFPA) – that would enforce a strong set of rules to require fair, af- fordable, understandable, and transparent standards for fi- nancial products like bank loans, mortgages, and credit cards for consumers.
AARP is urging the Senate
to put their constituents first, not the financial insti- tutions that caused the eco- nomic crisis. Americans will not settle for the status quo. The same status quo that lost investors billions of dollars. Americans deserve to know what’s on the table and who is really fighting for them.
Eric Schneidewind is the
state president for AARP Michigan.
OMC celebrates ‘Twenty Years of Magic’
“Twenty Years of Magic -
March 31-April 6, 2010
Page C-4
NEW ROGELL GOLF CLUB
2010 League Schedules Are Being Formed Now
SEVERAL
PRIME SPOTS ARE STILL AVAILABLE
Monday 4:00 PM (UP to 28 Players)
event headliner Andrew Ben- nett will conclude the evening with his jaw-dropping magic show. A cash bar will be avail- able to all patrons at 6 p.m. and will remain open for the duration of the Gala.
For more information or to
learn about sponsorship op- portunities, please contact Rebecca Schultz at rschultz@ mediation-omc.org or (248) 338-4280, ext. 213. Visit OMC’s Website at http://www. mediation-omc.org/ to register for the event, purchase tick- ets, and access the sponsor- ship contract.
It Pays to Advertise in the Michigan Chronicle For The Best Results Call us at 313-963-5522
(313) 633-5904 Cell • (313) 255-4653
Ask for Lindsey Mason III Head Golf Pro & GM
NEW ROGELL GOLF CLUB
Call Details:
Tuesday 4:00 PM (UP to 32 Players) Wednesday 4:00 PM (UP to 28 Players) Thursday 4:00 PM (UP to 28 Players) 4:52 PM (UP to 20 Players)
Interested in morning leagues for seniors, ladies, teachers, shift workers, etc.?
We can
accommodate you!
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