Sunday, September 21, 2008

The Economy

I was going to write about this but Cenk pretty much covered it for me.


The Morholt said...

My entire, paltry retirement fund was in aig bond market. I have no social security. I have no portfolios or savings. Not saying that it was pure altruism, and doctor says I'll never see retirement anyway, but maybe that is why there is bipartisan support for keeping aig out of the toilet. And many more folks than me will suffer is the hugest credit brokers in the world go belly up. Should they have been better regulated and audited? Absolutely! Would their demise teach a bunch of wall-street fat-cats a lesson? nope, it would destroy the economy of the world, imho. Should that economy be otherwise structured? Yes. Is it? No. I nsuspect that even the most left-leaning of comentators is in the market up to his/her ass, so this rant looks like purest hypocracy to me. though maybe I'm wrong and the young turks have stayed clear of ethically and financially questionable long-term bond investments, but I haven't. And I'm not laughing all the way to the bank, just hoping I might have some of the retirement i spent 7 years investing because the govt didn't give me many options. Who would have thought that gambling that the state of Louisiana retirement fund would be the SAFEST choice?

The Morholt said...

Yikes, a very incoherent post. Sorry, it's 3 and I'm drunk. And suspect that i have no retirement fund. As a state employee, I was given two choices; state of LA or aig. I assumed aig was safer. that was my choice, but the choice of an economic fool. I assumed that if aig weren't safe, I wouldn't have been offered it as an option. Not defending the wisdom of the choice, just saying, I'm prolly smarter than average. so if the govt is gonna force me to make that choice, it should put its money where its mouth is.

The gulf of mexico is a harsh mistress said...

I have or had AIG retirement fund

attempting to silence the voices in my head.