If the treasury and the President are really still considering nationalizing a bank or banks, they should take a closer look at how they're doing unwinding AIG.
AIG needs, reportedly, another $60 billion and the Feds might give it to them, with strings attached of course. Attached to what I'm not sure..
Google has some kind of technical problem. For the last 24 hours I've been only sporadically been able to reach this blog and/or my gmail account. Maybe the antitrust gods are addressing the issue of Google rapid ascent in market share and power. In any case, I probably won't be posting as much this week.
The Japanese market made a 26-year low last night. Just sayin'.
"Fidelity Investments, Charles Schwab Corp. and other 401(k) account managers say most clients rode out the worst months of the stock market slump without changing weekly contributions or moving to more conservative money-market or bond funds."
Bloomberg is pointing out that the average 401(k) investor is not running for the hills. This is obviously good and bad.
- investors have a shot at making some of it back should the market recover
- the defined contribution system kind of works
- that money is not sitting out on the sidelines waiting to come back in
- those folks lost half of their retirement money
I talk to people every day about their financial situation. Most people these days would rather be talking about something else.