Note: Read both the one page article by Michael Smerconish about Bogle and the Bogle commencement address entitled "Enough."
1. What is the name and type business of the company that Bogle founded?
2. What did Bogle think about the Wall Street Banking and investment industries
3. What stages did Bogle say that the nation's economy had passed through over the past two centuries? According to Bogle, what is the current stage and does it add to or subtract from the value created by our productive businesses?
4. How much money did Bogle say was being drained out of the productive US economy by these industries in:
2007 ____________ and then in 2008____________?
5. What did Bogle say is the likely percentage of S&P annual profits generated by the finance sector? How does that compare to the energy, health care, manufacturing, and information technology sectors?
6. Does Bogle suggest that the US economy is healthy and making things that the world will buy or simply trading pieces of paper, swapping stocks and bonds back and forth?
7. Does Bogle seem to agree with Keynes that the financial markets are like a casino? What does the word, "croupier" mean?