It'll be like the scene in "Mars Attacks" where the Martians blow up Congress. Hehe. http://www.youtube.com/watch?v=fE7IfBgTT1I
I think this is a good idea bailouts have to be paid for somehow if that means taking from a barely middle class person's only savings to give to an AIG exec that made tens of millions making bets that were sure to fail, when their charter was to actuarely balance risk (rather than taking leveraged bets), then this is a good thing becasue, it is the policy of this country to drive hard working, prudent middle and working class people into destitute poverty and nothing will change until the targetted class faces that truth squarely
You guys are such drama queens!! You guys aren't leaving America and you aren't closing out your 401K's either. Nobody should have a 401k or an IRA or any other type of regulated retirement account. NOBODY. When I talk to people at work who participate in the company sponsored 401K most of them say they participate in it because it is tax free, they obviously don't understand what "deferred" means. Others say they do it because the company matches their own contributions, up to a certain level. Here's the funny part - everyone I have ever talked to who is participating in a 401K that purchases stock, whether in the company or in a fund, believes that their money is guaranteed. If there ever comes a time that they actually read their statements and find that their 401K has declined in value not only will they not mind if the govt confiscates it, they will DEMAND it. You guys here who have a 401K or IRA need to get your heads out of your asses. Nobody should have a savings account in which govt regulation limits how much you are allowed to save and how much you are allowed to withdrawal. And if you have a retirement account because you believe you are protecting your assets from some sort of future litigation, well then you really need to get your head out of your ass.
I don't have a 401K, never had and never will....there are safer ways of protecting your assets. The American Empire is about to end...unless the 'Saviour' Obama comes up with some miracle plan....
He's caught tween a rock and hard place. Anything he does domestically that would promote growth would get him in scalding water from the left. And, there's no massive peace div or entrance of formerly commie countries to stimulate growth like Clinton had. Rubin and Buffet will be left to recommend a few limited pro-growth policies which Obama will be forced to take, knowing if he doesn't, he'll be toast in four years, but the left will never get a tingle down their legs again.
ohh, I think he'll be toast in 2 years or sooner...IF he doesn't come up with something - fast....everyone is waiting