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Gee, I thought I should Change my 401-K Allocation...

by: elwood

Tue Sep 16, 2008 at 19:36:54 PM EDT



But I didn't want to buy AIG!

Republicans: The Bizarro Party.

"No nation building." Iraq.
"Small Government." REAL ID, FISA.
"Let's privatize Social Security!" Socializing the biggest private insurer.
elwood :: Gee, I thought I should Change my 401-K Allocation...
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Gee, I thought I should Change my 401-K Allocation... | 15 comments
The Bush Admin is now in full time (0.00 / 0)
"making **** up as they go along" to keep the house from collapsing on  top the lousy ideological foundation they started back in 1980. Or at least until the election happens.

Wonder if Sununu's fired now.
Adding: (0.00 / 0)
I'm so glad my tax dollars are being used to save the pants of the Very Serious CEOs who are supposed to know what they are doing, and instead just looked out for themselves while BushCo looked the other way.

WORST. PRESIDENCY. EVER.

Wonder if Sununu's fired now.

[ Parent ]
What's the difference bewteen Palin and Bush ? n/t (4.00 / 1)


This is not a novel to be tossed aside lightly. It should be thrown with great force.

   Dorothy Parker

[ Parent ]
The President has senioritis. (0.00 / 0)
Did you watch the Olympics?
[ Parent ]
I don't know about you but my 401-k is now my (4.00 / 2)
200.5-k.
Lipstick (0.00 / 0)
mattress is the operative term


http://www.nytimes.com/2008/09...
Money Market Fund Says Customers Could Lose Money
By DIANA B. HENRIQUES
Published: September 16, 2008
The announcement was made by the Primary Fund, which had almost $65 billion in assets at the end of May. It is part of the Reserve Fund, a group whose founder helped invent the money market fund more than 30 years ago.

The fund said that because the value of some investments had fallen, customers now have only 97 cents for each dollar they had invested.

This is only the second time in history that a money market fund has "broken the buck" - that is, reported a share's value was less than a dollar.



This is not a novel to be tossed aside lightly. It should be thrown with great force.

   Dorothy Parker

[ Parent ]
Going to the mattresses... (4.00 / 1)
It's not just for mobsters anymore.
[ Parent ]
Or wacky grandmas. (n/t) (0.00 / 0)

[ Parent ]
The Cocky Wacko (0.00 / 0)
isn't a grandma for another few weeks yet.
[ Parent ]
Let's see... We loan AIG $85 billion (0.00 / 0)
and in return we get 80% equity in AIG!

Which means that the responsibility for paying us back that $85 billion is four-fifths... ours....

Barack scoffs at McCains and his 'financial crisis' reaction (4.00 / 1)
Golden Colorado 9/16/08

trickle down bushhit losership society
this economic philosophy has completely failed
the tipping point has been reached

This is not a novel to be tossed aside lightly. It should be thrown with great force.

   Dorothy Parker

Here's my neck (4.00 / 2)
I have read that the average amount of money in 401K's owned by people over 50 is $27,000. And Republicans want to privatize Social Security? Is everyone ready to move in with their offspring like used to be normal before 1930? That amount wouldn't even buy Kowslowski's wife a shower curtain at today's prices.
And the other part (4.00 / 1)
That often gets lost in Social Security discussions is the survivor insurance. When a worker dies young the family gets Social Security; the Bush private accounts had no such coverage.

And that's a big deal: about one-third of all SocSec benefits go to survivors, not retirees.

[ Parent ]
You've missed the point entirely. (0.00 / 0)
With respect to Social Security, "Privatize" is a euphemism for "phase out".  If you can get away with having fewer benefactors in the process, well, that's just expediting the process.
[ Parent ]
Suggestion (0.00 / 0)
Elwood, you had a complicated "Social Security is solvent" diary a while back that might be worth re-front paging.

It would be worth it for me, at least, because I didn't have the time to understand it fully at the time, and the math I do understand -- the aging problem -- seems pretty daunting.


[ Parent ]
Gee, I thought I should Change my 401-K Allocation... | 15 comments
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