John Bogle on Bill Moyers
Admin - Sep 26, 2007

John Bogle will be the guest on The Bill Moyers Show, Friday Sept 28 @ 9pm on PBS.  Check your local listings for the PBS station and broadcast time in your area.


Comments

Raymond Eichenmuller - Sep 28, 2007

Mr. Bogle,

I just watched much of your interview with Bill Moyers this evening. It is refreshing to hear someone in the business world express themselves with such candor. Your concerns for this nation and our future are sadly missing from our present day leaders.


jhc1 - Sep 28, 2007

I’m happy to become acquainted with Mr. Bogle via this segment.

Your views on the differences between a productive economy and a financial economy and the recent mutation of American capitalism from one to the other are spot on. Thanks for providing one of the most concise explanations of exactly why the US economy no longer works for anyone but the slimmest margin of those at the top. I’m quite familiar with one of the few places that has been documenting these changes as they occur ( http://www.epi.org ) but have rarely heard the dynamics and implications quite so succinctly expressed.


ledotter - Sep 28, 2007

THANK YOU. But what is a little old lady to do amongst all the financial “sharks”?


robbob - Sep 28, 2007

robbob – Sep 28, 2007

I have not been able to find the list of participating speakers (other than political celebrities) at the Clinton Global Initiative this past week, but I certainly hope that John Bogle was prominently featured.

Made a fortune – and lost most of it, in large measure because I was poorly prepared to handle the money I made. I wish I had encountered Mr Bogle 25 years ago! Investment integrity combined with common sense: I had the former and needed him for the latter

Now all we need is for The Bill Clintons and John Bogles of the world to get together and create a serious game plan for creating socially responsible investment globally. As a committed Rotarian with 30 years of international humanitarian experience I would welcome an opportunity to be involved in the fundamental structuring of such a framework,

Robert Ketron CFP
(Rotary PDG)
Baltimore, MD USA


slycal - Sep 29, 2007

I just watch the show on PBS and i really want to give my support to John Bogle. I believe that his description of the modern capitalism is a very important contribution to the his country and its economy.
I’m experiencing the modern capitalism at my life with delocalisation, short term strategy and pauperisation of the middle class. I m glad you speak out….


AVTech1954 - Sep 29, 2007

HOOORAY for your appearance and comments on Bill Moyers this evening.
FINALLY someone in the financial industry, one of “Their Own” so to speak, expressing great concern for the consequences for the current lack of conscience and ramppent short sitedness of the finance industry. I thought I was just going crazy and and had somehow been transported into some kind of “Bizzaro World” where ALL that matters is The Bottom Line.
Maybe you and Mr. Greenspan should team up on a speaking tour. I’ll buy a ticket!!!
Can’t wait to buy…and READ your book.


Lar - Sep 29, 2007

Excellent presentation. –Reminiscent of Kevin Phillips wordier ‘Wealth and Democracy” as well as the fictional and bizarre “Lunacy in America” from 1980 [ http://www.ch49.com/LunacyIntro.htm ] As Plato wrote 2400 years ago when a society prizes wealth as its highest virtue the spirit of moderation can not be maintained among its citizens.


jerijean - Sep 29, 2007

WOW! I came across Mr Bogle’s interview while channel surfing…..I appreciate that he was able to express what I had been thinking. My husband and I work hard, live conservatively, try to save and invest for our future but get no where. Investment strategies are a “dime a dozen”; we have finally moved what we can into FDIC insured CD’s for the long haul. It was apparent to us that the only people making money were the “money changers” and CEO’s who are in position to manipulate policies and influence regulatory oversight. It was refreshing to hear Mr. Bogle say that pay and bonuses for CEOs, Hedgefund Managers, etc are out of line. I believe he expressed that due to greed, the current capitalistic system in America is unsustainable. A very scary thought when China comes to collect our IOU’s.


deb bury - Sep 29, 2007

Thank you for your interview with Bill M. The health care crisis is (along with all the many other issues) due to the continued scalping of tax payers by lack of Federal gov and state control. The housing market did not “just happen” and has been brewing also with the over reach of profit. I do agree that this country is holding enough citizens that are fed up with all parties and cannot put how they feel into words. I do know that when no one has anything anymore to take advantage of that no one will make anything. I do believe you are right that the country will rebel and is on the rise to that direction. The tax benefits given to the upper classes has out reached the higher common taxable structure of the poor. Please do go on Oprah for she has Michal Moore on with the health care problem. But unless the government corrects whats going on with the scalping of American citizens by every single corporation, etc. no socialized medical system will survive. Exactly like the Medicare, Medicare drug horror, and Social Security programs that have been misrun for years by the gov. Billions of fraud and waste by FEMA in Katrina and Billions of fraud and waste in Iraq. It is not the war that is bad for these people need stability, it is the management and lack of focus and accountability of the U.S in so many areas. Thank you for your time will Bill Moyers!


Jo - Oct 09, 2007

Finally! Bill Moyers interviewed a guest with heart as well as intelligence and common sense! Will you marry me, Mr. Bogle?


Therronmd - Oct 10, 2007

I was also quite impressed with Mr. Bogle’s succinct analysis of what is taking place in our society today.

As a physician, I see examples of decisions made only for the “bottom line” on a daily basis. This occurs at the level of hospital administration and very blatantly at the level of large insurance companies that create every obstacle possible to prescribe for, diagnose and treat patients. It seems that those at the top probably never took care of a patient and are most comfortable with their adding machines and balance sheets.

Unfortunately, many physicians are also caught up with the financial aspects of running a practice and patients are starving for someone who will listen and care for them. The system sadly rewards volume as opposed to quality and does not support physicians who want to take time with patients, be thoughtful about their care and make a true difference in their health and lives.

I am proud to inform you all that despite these challenges, I will continue to be a thorough, caring and “old fashioned” type of doctor that most patients desperately crave.


litte_indian - Oct 13, 2007

Sir, that was a great interview with Moyers. You are right about how the financial services industry is adding no value to society by trading pieces of paper around. The same argument applies to the $1.5 trillion health care/insurance industry. However I would argue that the latter is far more harmful to society than the former. We can avoid dealing with hedge fund managers all our lives but at some point we have to interact with the health care industry. The blame for rising costs of health care do not lie with the health care insurance companies as is commonly imagined. The insurance companies are here to fulfill a market need caused by expensive doctors who operate in a market which has been manipulated by forces such as the American Medical Association to keep the supply of doctors artificially low. As Milton Friedman the celebrated Nobel Prize winning author so tirelessly pointed out, the AMA is a special interest group which has worked hard to keep the barriers to entry into their profession difficult enough to enjoy an immunity from competition all in the name of protecting consumers. If a true free market were allowed to operate in the case of medicine the high fees that doctors charged would gradually and automatically come down to the point that purchasing health care insurance would be unnecessary. Until a free market is allowed to operate, health care costs will continue to out pace inflation.


JBA - Oct 19, 2007

Mr Bogle’s appearance on the Moyers program prompted me to pick up the “Little Book of Common Sense Investing”.
This book deserves a prominent place on the bookshelf as an effective deterrent to the impulse to trade on market fluctuations. (ahem)

I knew of Mr. Bogle, his reputation, and have owned Vanguard funds. I had not heard him speak or read any of his books. The financial industry is in need of more people like this!


Neal Clark - Oct 22, 2007

My Wife and I recorded the show and watched it later. Mr. Bogle’s words really sunk in on how this country is progressing and what kind of ideas need to be moved to the forefront of our minds and the minds of the public and the legislators in this country. It also shows that I made the right choice in investing in Vanguard with a founder a level set and passionate about the common investor. The show convinced my wife that I made the right choice and is on board with our plans of investing in index funds.

Sincerely,

Neal Clark
Northwest Arkansas



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