Individual Development Accounts

Here are two very contrasting stories...

In 2007,the four major investment banks ( Bear Sterns, Lehman Brothers, Merrill Lynch and Morgan Stanley ) responsible for the sub-prime lending crisis handed out year-end bonuses totaling $39 billion.  Yet, that number is three times the combined profits of all the firms last year.  So, while the economy soars toward recession and the government is bailing out these investment banks, the executives are receiving bonuses in the billions.

In spite of all these crappy people in the ranks of the money business, there are also other people creating opportunities for the less fortunate, yet ambitious, people in our society.  There are accounts called Individual Development Accounts that have been created that assist the poor in our society.