Andy
Well-Known Member
- Joined
- Jan 6, 2008
- Messages
- 3,497
I was once invested with the KEPRS fund {circa 1988-1998} and during that period of time 3 of our top Kansas Employers Board of Directors were brought up on Embezzlement charges to the tune of $30 million dollars from our KEPRS fund...{I took a hit of an extra 12% when I had to pull my share out, family medical emergency} anyway, I no longer trust no do I participate in any 401K/or retirement fund anywhere
Um... that's why you should never invest in a single fund. That's what I meant when I said "diversification of investments". I'm currently funding a total of 5 different mutual funds for that very reason.
The 401k/health care policies that were guaranteed to these early retirees/recent people being laid off...is no longer an iron clad document that their medical coverage will continue and that the 401K is going to be paid...some corporations have actually put a 'freeze' on the pay outs due to huge losses on the investments side.
Nothing in this world is "guaranteed" ever. You simply have to make do as best you can, and you are far better off handling your own affairs, than hoping someone else will.
As for Freezing 401K payouts being frozen, I have not read that anywhere. FedEx is freezing the matching funds. Citigroup is freezing their pension which of course is logical since a pension comes from their bottom line. But 401Ks are essentially privately owned funds. Neither could freeze your 401K if they wanted to. It's not under their control.
what part of 'NOT' paying attention to the investment groups that got caught up in the recent 'PONZI' schemes haven't you been paying attention too??? There were colleges, stock portfolio's from many municipalities, private investors, mortgage companies, Unions, Police/Fire/Welders etc., etc., etc., and Berny Madoff took them down the toilet with his BILLION DOLLAR SCHEME!!!
Right. Are you going to base everything you do on the possibility of problems? You could die in a car crash this afternoon. Does that mean you never drive again? How many mutual funds exist in the US today? The Investment Company Institute, has more than 10,300 mutual funds alone, and there's thousands more. How many are ponzi schemes?
Well, ya, but don't you think that there should/would/could be caps set on the premiums that they force feed us???
History has shown that when you set price caps, the result is poor service, or no service. It's the same as putting pay caps for doctors. The result is doctor shortages.
As long as there are good people providing a 'free service' there will be the leeches of this world taking advantage of that 'free service' {{shrugs}}
Right. Now apply the pastor freeloading from the food pantry, to people taking advantage of government. Government isn't going to say "That's enough freeloading", because each person is a potential voter, and it's not their money. Politicians are never frugal because the tax payers are paying the bill, not them.
There is over $60 Billion dollars in fraud for medicare alone. That's per year, and doesn't include Medicaid, Social Security, Food stamps, Welfare, S-chip, and the whole list of social programs. Yet Medicare is blowing a whole in the budget according to Obama, and doctors are refusing patients because of low pay. And you want this system for everyone?
Well, he gets passionate about this issue and his family over here in America have had many ongoing problems with 'pre-existing conditions' and the 'portability issue' from their varied insurance providers!!!
Pre-existing condition clauses only apply if you did not have insurance before. Further, it only lasts a year, or two at the most. Portability issues are a concern, and something that needs fixed. Health Insurance should be like any other insurance, in that it isn't tied to your job. That's one of two things that does need fixed in our system.
Well, you can't make a statement like: killing off 'X' amount of humans and not make me think that your 'tongue in cheek post' wasn't sarcastic...especially on the heels of "all poor people have a vehicle"...LOL And that is a 'GIVEN' but this was important enough to make Norway, Canada, Sweden and other countries make it 'happen' for their citizens...we need to quit dragging our collective feet and get something started...NOW!!!
Sweden's health care is in shambles too. Sweden has even been toying with privatization of the entire industry. How ironic that they have tried what you want, and are trying to move towards our system. Canada, we've discussed. It's awful. Thousands of women every year are sent to the US for birth, because their hospitals can't handle them. As I said, there isn't much on Norway, but what little I've seen isn't nearly as good as that one guy claimed.
Given the most recent mortgage crisis/bank failures/trickle down economy crisis...I would beg to differ! It would appear that the GREED DRIVEN CAPITALIST has hurt this country in the worst way!
Perhaps you'd like the $2 a day poverty of communist china? Or maybe the slums of pre-reform India? Or even the ghettos of Cuba?
Besides that, as has been stated before on this forum many times, it was government controls and regulations that caused our current down turn. That's socialism, not capitalism.
Maybe you need to read some current documentation from the financial guru's and how the oversight SEC that G.W.B. had appointed and wanted them to BACK OFF of keeping the taps on the bottom line was one of the driving forces that allowed the Berny Madoff's and others of his ILK to screw the masses in the way that they did!!! Rules/guidelines and regulations were ignored and the wording of those 'bundled mortgages' were twisted around so that the finite details were being overlooked...some think on purpose, some want an investigation so we will know just with whom to place the blame and press charges...others don't want to waste the money to find out...but my $$$$ start with G.W.B. and INC. and move down from there!
Um... those bundled mortgages were purchased by Fannie Mae and Freddie Mac, by the direction of HUD. They did this to help increase minority home ownership as per the Community Reinvestment act. That's socialism. You keep pointing at things that government did, and claiming it's capitalism. No, government is inherently socialism.