Sunday, November 11, 2007

A Hispanic Vision of Wealth

The New York Times Magazine ran a fabulous article on Sunday 10/14/07: The Capital of Capital No More? by Daniel Gross. Here Mr. Gross describes how much of the financial work that was done in New York City has followed American wealth out of the country. The largest IPO (initial public offering) to date, $19.1 billion, was staged in Hong Kong in 2006: Industrial and Commercial Bank of China.

All these geniuses who thought to make a quick buck by sending America's wealth to foreign countries are only now beginning to see that their strategy is strengthening other countries while it weakens our own country.

Yet, as New York dwindles in importance, Dallas has an opportunity to grab some of the business that New York is losing. Dallas, Texas, could become a financial center for Latin America.

Hispanics in America need to focus on a positive future with wealth and power. We must not be misled by Hispanic mis-leaders who want us to focus on causing strife and division over illegal immigration. Mis-leaders want Hispanics to think of themselves as victims. We need to think of ourselves as achievers and focus on success, not on complaining.

People in high finance stand in the middle of a river of money and help themselves to all they can get away with. You do deal for $10 billion and keep $50 million for yourself and you have only ripped off one half of one percent of the deal. Four of these deals and you have $200 million in your pocket for being a middle-man. This is what we should be focusing on, not parading in the street and waving Mexican flags.


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