The next big bailout
- Thread starter Ollie
- Start date
Its gonna be insurance. My company has just been hit with a 60% increase in our policy for health and dental coverage at 750 deductible. Next step is 2500 deduct. Here comes socialized health care.
medicare, social security or insurance companies?
wait its probably the newpapers, ie, new york times etc!?!?!
wait its probably the newpapers, ie, new york times etc!?!?!
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you tell us!
california?
Giving it to Canada?
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Ollie
ACCOUNT CLOSED
geeze, you guys are no fun. lol
Retirement accounts.
Companies are going under and defalting on their retirement accounts.
The airlines are asking for retirement account releif from the government.
For the last 20 years companies have only been paying into the accounts on paper.
When a company defaults on thier retirement account system the government is on the hook for it. The ammount you get is usually a lot less than what you were supposed to get, but you and I are on the hook.
There was a study done recently that showed only 28% of retirement accounts are fully funded. Companies usually have matching funds that they contribute to their employees retirement. That matching contribution has only been on paper or only partly paid out.
It is estimated it will cost at least 1 trillion to pay off the accounts even at the lower payout.
So stand by.
Retirement accounts.
Companies are going under and defalting on their retirement accounts.
The airlines are asking for retirement account releif from the government.
For the last 20 years companies have only been paying into the accounts on paper.
When a company defaults on thier retirement account system the government is on the hook for it. The ammount you get is usually a lot less than what you were supposed to get, but you and I are on the hook.
There was a study done recently that showed only 28% of retirement accounts are fully funded. Companies usually have matching funds that they contribute to their employees retirement. That matching contribution has only been on paper or only partly paid out.
It is estimated it will cost at least 1 trillion to pay off the accounts even at the lower payout.
So stand by.
Makes sense, look at how quick they were to bail out AIG. That is who insured the fed retirement set up. Taking care of themselves first. Funny how they forget that they are PUBLIC SERVANTS! Guess the rest of us better buy stock in KY cuz they are not done sticking it where it doesn't belong.
D
Drifter
Well-known member
Hahaha maybe the other way around. We are in better shape then you are.
lolwut?
Last time I checked my health care was free, not a care in the world about losing my job, and my taxes are next to nothing.
Get back to me on that after Obama is done giving it to you guys, hard.
Your dead on the money Ollie. I watched my father go to work everyday for almost forty years yes 40 years. he put all 4 of us kids thru school and invested everything like he should and now if GM goes belly up he is all the way back to square one 40 years worth of pention gone. grant it his house is payed for and cars are payed for but its the point of you give half your lift to a company and for what nothing. He didn't go out and buy us all the toys and so on but we never wanted for nothing. I'm just saying that he did his time and now its time to play hes not even 60 years old yet.
I'll get off my soap box.
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Ollie
ACCOUNT CLOSED
Aside from the guys with their undies in a not about the canada joke,
people have put too much faith in their 401k's and such.
Companies are dropping their retirement accounts in an attempt to stay afloat. Colorado state tried to raid their employees retirement to the tune of 300 mil to balance the books. Talk about robbing peter to pay paul.
Companies look to their employees retirement as a big block of money they want to raid to keep going. It is bad and only going to get worse.
Sorry for being depressing, but I figured I would toss that out.
Captialism= Sink or Swim
When did bailing out companys come into the equation?
When did bailing out companys come into the equation?
I only wish i thought of starting a retirement account at 25
Only problem is Robbin Hood would have taken half in 2009
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Ollie
ACCOUNT CLOSED
When politicians discovered they could get money and votes for doing it.
It's been going on for awhile. I've been in the investment business for some years now. Time magazine had a great article a couple years back on retirement and trends. The corporate trend now for takeover agreements is encourage employees to sink large portions or all of their 401k towards the companies stock. Shortly thereafter issue a trading Blackout to employees. Then dismantle the company and file Bankruptcy Protection. This drives the stock down and the new parent company then buys the new company for cheap. Stocks are crashed and 401k's near worthless. Retirees see their checks go from $2000 a month to $200. Think I'm bs'ing, Rubbermaid did it.
I've also posted this before. Watch the online episode of this. It's an eye opener.
http://www.pbs.org/wgbh/pages/frontline/retirement/
I've also posted this before. Watch the online episode of this. It's an eye opener.
http://www.pbs.org/wgbh/pages/frontline/retirement/
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