Definition Of A Poor Person

While I was watching CNBC, the popular financial television station, the commentator reported that he had come across an interoffice directive from a well-known financial institution. While he mentioned the name of this well-known stock brokerage firm, I will not, simply because I did not

personally see the memo. Anyway, the commentator said, "The company memo defined a poor person as a person who did not have at least $100,000 in cash to invest."

Imagine that. That means most of America can be defined as poor people by the standard of that company's memo.

When I asked a friend who once worked for this firm, he verified the comment and added, "Not only do they use that criteria before taking you on as a client, they also use that $100,000 criteria to hire you." He went on to saythat the company did not really care about your college education or work experience. Before they hired you, they wanted you to write a list of people you personally knew who had more than $100,000 to invest. If you had a long list, you got the job. If you did not, you were not hired.