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Originally Posted by SteveZ
Winning an election does not turn someone into a 4-year monarch. Actually, I have fewer problems with Mr. Obama as I do with Ms. Pelosi and Mr. Reid who have turned Congress into the largest rubber-stamp in history. Sorry, the concept of not reading a bill before voting on it is atrocious. It's like an individual signing a contract with a $1Million obligation and not knowing the terms and conditions. In this case the congresspersons, as our agents, are signing contracts by virtue of their votes with no knowledge or care about the content. Does anyone believe that's the proper conduct for their agent?
I agree that the stock market is akin to a casino. That's the nature of the place. "Investment counselors" are basically "gambling advisers." You can find comparable folk hanging around every OTB parlor - the game is just different!
As far as Social Security is concerned, the main problem with it is that the fund has been raided, so now a Ponzi arrangement is necessary to meet obligations. When that happens with private plans, folk go to jail. Here, we just reward Congresspersons with more terms in office.
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I agree with much of what you posted. My point is that nothing has changed here. The Republicans, when in power, marched in lock step to pass bills, before reading them, and Bush didn't veto a thing until the Dems took over.
Here is a link on Nebraska throwing out their 401K retirement plan after 19 years because it didn't perform as expected.
http://www.thestreet.com/funds/belowradar/10021041.htm
I have heard many times how much better will all would have done had we invested it ourselves. It is simply not true. The only people who have made out...over time are the guys that churn the accounts. Its the fees