Our nanny state government is ever vigilant in its never ending defense of clueless consumers.

Latest case in point….The FTC is now examining whether they should police bloggers. (See the Wall Street Journal’s article, “Product Reviews by Bloggers Draw Scrutiny”, from 4/23/09).

It’s about time.

Now that we are mired in the deepest recession in 70 years, exacerbated by a spreading global pandemic, and  with the money center banks teetering on the edge of insolvency…it’s helpful to know the Feds still have time on their hands to handle this priority threat.

We already regulate political speech through the so-called campaign finance reform laws…so it’s an easy side step towards regulating commercial speech.

I was not surprised to learn that many bloggers take money under the table to endorse companies and products.

I was surprised to see how cheaply they were bought off…with nominal gift certificates, free books, and token cash payments.

Our blog is steadily solicited to review and endorse financial products, services and books.

And our policy is to just say no.

It’s not necessarily the case that all these services offer no value or utility…it’s just easier to slam the door shut so that we can focus on offering objective advice and commentary…

And my plate is already full with my own reading backlog and the two dozen financial publications I regularly monitor.

We regularly name names of financial providers, products and services, but only based on our direct experience and knowledge of their usefulness and utility.  We may not always get the call right, but our judgment is never skewed by outside compensation.

Google and Forbes make the call as to which display and classified ads support Blue Jeans Millionaire…and you make the call as to which of these you wish to click through.

Psychologists have discovered that as we mature, we have in inborn instinct to mentor the next generation…and this is much more feasible when outside employment is severed, and you are no longer subject to job-related pressures to conform.

Of course, everyone has their price.

My price for a shameless, undisclosed endorsement would be a round lot of Berkshire Common (A) (BRK.A).   For those of you who deal in mutual funds exclusively, a round lot is an even 100 shares.

At $93,500 per share….a cool $9.35 million.

After all…if you’re going to sell your priceless reputation, you deserve much more than a $20 gift certificate at Sears.

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Posted: 05|5|09 at 6:54 am. Filed under: consumerism.
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