Teach Financial Literacy, Save Trillions

There is nothing partisan about this issue, No Name. We all can unite around it! Its a fundamental truth that in a well-operating free market asymmetric information between parties to a transaction ought to be minimized. A way to improve information symmetry and equality of opportunity among parties to a transaction is to get all Americans interested and more capable in being independent and empowered in the financial markets and managing their own finances. Along with getting a more rigorous exposure to mathematics and the scientific method and an apolitical non-watered-down approach to our rich history, high school graduates ought to have significant exposure to personal finance and the basics of our economic system and the global economy. This will give kids the independence and the weaponry to better navigate themselves through the economy.

Government has never cured us of "bubbles and scams", in fact the Federal Reserve's action of keeping interest rates too low for so long and the actions of liberals in Congress to protect the questionable actions of Fannie and Freddie strengthened the housing bubble. The government should set some basic ground rules and protections. But by giving individuals the ability to be more independent to control their own financial destiny, they will be more savvy in the markets and more people will have the knowledge to recognize scams. Let's not surrender any more of our liberties to the government -- let the government give its citizens the wherewithall to more independently get through the economy and life in general. Don't scrap the Reagan Revolution -- refine and strengthen it!!

Joe C. of VA 10:15AM January 19, 2009