Quote:
Originally Posted by OneTimeSBX
you know what though, it has been my experience (working for a large bank and a credit card company) that people do not do their research, and do not pay attention to how things are being handled. they chunk that money into a 401k or whatever, and just assume it will be there when they are done.
ceo's make too much damn money anyway. dont get me started. but yeah, its kinda jacked that when the company nosedives they get off with several million dollars, while Jane, the receptionist on the 3rd floor, gets nothing. it pays to do your own investing and homework!
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It's hard not to throw money into a 401k when your employer matches your contributions. Having said that, I agree with you that it is our responsibility not to put all of our eggs in one basket.
Did anyone catch the Presidents speech on the crisis this afternoon. I watched it on ABC around 11:00 I think. He outlined how the feds need to reform the financial sector ASAP and also gave the reasoning for the AIG loan. In the commentary after the speech one of the anchors said that he had heard that when Bernanke met with Democrat and Republican congressmen he stated that time was of the essence because America was just days away from total collapse of the financial markets prior to the gov. loan. That is some scary language if true.
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