Comments on: Financial light at the end of the tunnel could be 2015 http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/ Tue, 22 Dec 2009 04:00:12 +0000 http://wordpress.com/ hourly 1 By: Michael http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-6/#comment-351499 Michael Tue, 30 Sep 2008 02:45:31 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351499 Wake up people! Yes, the Wall street guys took too many risks and got burned. Yes, they got paid stupid amounts of money for it. Yes, it's maddening. FORGET ABOUT THAT. Check your emotions at the door and face up to what is staring us in the face. It's a big black economic hole. This "investment" (don't call it a bailout) is imperative and we're going to have to buy into it real fast or we will feel economic pain like we have never seen. The financial markets are about to sieze up as a result of this and we need to get it going again. Period. The "system" that encouraged the risks and paid these guys too much can be fixed and regulated after it's stable once again. Wake up people! Yes, the Wall street guys took too many risks and got burned. Yes, they got paid stupid amounts of money for it. Yes, it's maddening. FORGET ABOUT THAT. Check your emotions at the door and face up to what is staring us in the face. It's a big black economic hole. This "investment" (don't call it a bailout) is imperative and we're going to have to buy into it real fast or we will feel economic pain like we have never seen. The financial markets are about to sieze up as a result of this and we need to get it going again. Period. The "system" that encouraged the risks and paid these guys too much can be fixed and regulated after it's stable once again.

]]> By: Cheryl http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-6/#comment-351430 Cheryl Tue, 30 Sep 2008 02:43:31 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351430 Hi, I am 52 yrs old and I have my retirement money in AIG. Should I roll it over to another company? Thanks Hi,

I am 52 yrs old and I have my retirement money in AIG. Should I roll it over to another company?

Thanks

]]> By: Devyn http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-6/#comment-351394 Devyn Tue, 30 Sep 2008 02:42:39 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351394 There is another option to the bailout plan. Make the companies pay off and work off their debt. This can be done without any legislation and could start tomorrow if Cox wanted to. The republicans have such a plan if the Democrats are respectful enough of the American People to listen. The Dems wanted the Republicans to swallow their plan (developed by the foxes that were in charge of the chicken coup). Thank goodnes the Republicans and 95 democrats listened to the people; the only ones whose opinions should matter!! WE THE PEOPLE....Let the free markets work this out. We don't need the government running our lives and throwing us into billions dollars of debt. The sky is NOT falling. It's fear that the Dems are selling; not a long-term viable solution. There is another option to the bailout plan. Make the companies pay off and work off their debt. This can be done without any legislation and could start tomorrow if Cox wanted to. The republicans have such a plan if the Democrats are respectful enough of the American People to listen. The Dems wanted the Republicans to swallow their plan (developed by the foxes that were in charge of the chicken coup). Thank goodnes the Republicans and 95 democrats listened to the people; the only ones whose opinions should matter!! WE THE PEOPLE....Let the free markets work this out. We don't need the government running our lives and throwing us into billions dollars of debt. The sky is NOT falling. It's fear that the Dems are selling; not a long-term viable solution.

]]> By: victoria http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-6/#comment-351382 victoria Tue, 30 Sep 2008 02:42:12 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351382 Things to ponder, Does anyone think Ceo and top executive pay should be tied to and based on company performance? Mine is. Do small business owners take little or no pay if their business has down-turns? I might not get a paycheck. Do most businesses keep their accountants on the grindstone until they close the annual books by a deadline date? I do. Should politicians go to work every day until a national crisis is resolved? They better! Shouldn't all members of congress accept responsibility equally since they have all been in congress at the same time? I think so. Things to ponder,
Does anyone think Ceo and top executive pay should be tied to and based on company performance? Mine is.
Do small business owners take little or no pay if their business has down-turns? I might not get a paycheck.
Do most businesses keep their accountants on the grindstone until they close the annual books by a deadline date? I do.
Should politicians go to work every day until a national crisis is resolved? They better!
Shouldn't all members of congress accept responsibility equally since they have all been in congress at the same time? I think so.

]]> By: katrina A. Delk http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-6/#comment-351368 katrina A. Delk Tue, 30 Sep 2008 02:41:51 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351368 I have 500,000.00 policy term life insurance with New York life insurance, I have converted 150,000 to whole life that will have a cash value for me at the age of 52. I will continue to convert most of the policy within 10 years. My question is will this type of insurance effect the cash value due to all this money problems in washington? I chose this type of saving for me over the 401k program, because it will give me more cash value than 401k I have 500,000.00 policy term life insurance with New York life insurance, I have converted 150,000 to whole life that will have a cash value for me at the age of 52. I will continue to convert most of the policy within 10 years.

My question is will this type of insurance effect the cash value due to all this money problems in washington?

I chose this type of saving for me over the 401k program, because it will give me more cash value than 401k

]]> By: Fred http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-6/#comment-351362 Fred Tue, 30 Sep 2008 02:41:41 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351362 Funny how the conservatives are all for the free enterprise system and reducing the size of government until they get into trouble. Then their allegedly core principles go out the window and they want the taxpayers to bail them out. This is a perfect metaphor for George Bush's entire life: one screw up after another but he can always turn to daddy when he gets in over his head. Hey, don't worry, McCain's financial genius, Phil Gramm, said it's only a mental recession anyway. Funny how the conservatives are all for the free enterprise system and reducing the size of government until they get into trouble. Then their allegedly core principles go out the window and they want the taxpayers to bail them out. This is a perfect metaphor for George Bush's entire life: one screw up after another but he can always turn to daddy when he gets in over his head. Hey, don't worry, McCain's financial genius, Phil Gramm, said it's only a mental recession anyway.

]]> By: Samantha http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-6/#comment-351360 Samantha Tue, 30 Sep 2008 02:41:37 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351360 Suze, I've been approved for a student loan through Sallie Mae that will essentially take effect in January when I start school. Should I be worried about my loans potentially being reduced or taken away? How will this crisis affect students? Suze,

I've been approved for a student loan through Sallie Mae that will essentially take effect in January when I start school. Should I be worried about my loans potentially being reduced or taken away? How will this crisis affect students?

]]> By: Daniel R. Martin http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-6/#comment-351311 Daniel R. Martin Tue, 30 Sep 2008 02:40:21 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351311 I am a 73 year old retiree living on a pension and Socia Security; What affect will the financial crisis have on my income? I am a 73 year old retiree living on a pension and Socia Security; What affect will the financial crisis have on my income?

]]> By: Emanuel http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-6/#comment-351285 Emanuel Tue, 30 Sep 2008 02:39:48 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351285 How does all of this mess affect Roth IRA? How does all of this mess affect Roth IRA?

]]> By: mary http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351263 mary Tue, 30 Sep 2008 02:39:28 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351263 suzie, i have a 403b and planned to retire in 7 yrs. 35% is in the stock market. the rest is in bonds / stable value accounts. should i get out the stock market and invest 100% in a stable value account. thanx suzie, i have a 403b and planned to retire in 7 yrs. 35% is in the stock market. the rest is in bonds / stable value accounts. should i get out the stock market and invest 100% in a stable value account. thanx

]]> By: dawn http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351250 dawn Tue, 30 Sep 2008 02:39:19 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351250 Trevor Guerlain, how was it Nancy Pelosi's fault? Because her speech made some Republicans mad? So then it was ok for them to basically say, "Oh Nancy...since you said bad things about us, we're just not going to vote for a decent solution to a horrible problem. We'll just take our votes and go home! Let the little people suffer because you offended us!" If that's the thought process of the Republicans, then I say BRING ON THE DEMOCRATS! Trevor Guerlain, how was it Nancy Pelosi's fault? Because her speech made some Republicans mad? So then it was ok for them to basically say, "Oh Nancy...since you said bad things about us, we're just not going to vote for a decent solution to a horrible problem. We'll just take our votes and go home! Let the little people suffer because you offended us!" If that's the thought process of the Republicans, then I say BRING ON THE DEMOCRATS!

]]> By: Mat http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351234 Mat Tue, 30 Sep 2008 02:38:53 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351234 This is wrong. I don't have a problem with the government helping banks, but I'm livid that we are not holding anyone accountable. Insanity is oft defined as doing the same thing and expecting a different result. Without changing dramatically, we are just going to repeat ourselves. Unless, Suze, you can tell us all why this isn't going to be thrown away money again... in the meantime, that dollar of ours is sucking further and further.... hate to say it, but this is what happened to Russia 18 years ago. This is wrong. I don't have a problem with the government helping banks, but I'm livid that we are not holding anyone accountable.

Insanity is oft defined as doing the same thing and expecting a different result. Without changing dramatically, we are just going to repeat ourselves.

Unless, Suze, you can tell us all why this isn't going to be thrown away money again... in the meantime, that dollar of ours is sucking further and further.... hate to say it, but this is what happened to Russia 18 years ago.

]]> By: Samantha http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351214 Samantha Tue, 30 Sep 2008 02:38:33 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351214 Suze, I've been approved for a student loan through Sallie Mae that will essentially take effect in January when I start school. Should I be worried about my loans potentially being reduced or taken away? Suze,

I've been approved for a student loan through Sallie Mae that will essentially take effect in January when I start school. Should I be worried about my loans potentially being reduced or taken away?

]]> By: Judy http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351213 Judy Tue, 30 Sep 2008 02:38:32 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351213 I'm 65 yrs young. 4/5 of my money is in a dollar valuation mutual fund. 1/5 in an index fund. Should I consider moving the money from the dollar valuation mutual fund to an FDIC bank account, or CD's? (Would have to do several different accounts, to protect each $100,000.) I've been told my account is covered by the SIPC up to $500,000. Should I buy more of the index fund? Should I just leave all alone? I'm 65 yrs young. 4/5 of my money is in a dollar valuation mutual fund. 1/5 in an index fund. Should I consider moving the money from the dollar valuation mutual fund to an FDIC bank account, or CD's? (Would have to do several different accounts, to protect each $100,000.) I've been told my account is covered by the SIPC up to $500,000. Should I buy more of the index fund? Should I just leave all alone?

]]> By: Terry http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351212 Terry Tue, 30 Sep 2008 02:38:30 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351212 Why should a person be able to buy a house without making a down payment of, say, at least 10 % or hopefully more? What part of adjustable rate mortgages was hard to understand? And do I really trust Henry Paulson since I learned that he made $38 million in one of his years with Goldman, Sachs? What's wrong with just making a million dollars per year? What do they teach these guys when they attend prestigious colleges and universities? Clever ways to be greedy?Golden parachutes? Heck, how about serious jail time? Do we really need gov't regulations that say "Don't steal other people's money"? Why should a person be able to buy a house without making a down payment of, say, at least 10 % or hopefully more? What part of adjustable rate mortgages was hard to understand? And do I really trust Henry Paulson since I learned that he made $38 million in one of his years with Goldman, Sachs? What's wrong with just making a million dollars per year? What do they teach these guys when they attend prestigious colleges and universities? Clever ways to be greedy?Golden parachutes? Heck, how about serious jail time?
Do we really need gov't regulations that say "Don't steal other people's money"?

]]> By: George http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351150 George Tue, 30 Sep 2008 02:37:25 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351150 Suze, I"m 60 and have had all my retirement in an IRA for the past 8 years, it is down to $200,000, I am going to stop taking out for as long as I can stand it, but should I get it out of the market now, or ride it out? I am still working and will have to refinance my house if I stop taking out of the IRA as my job doesn't quite bring me in enough with my monthly bills. Suze,
I"m 60 and have had all my retirement in an IRA for the past 8 years, it is down to $200,000, I am going to stop taking out for as long as I can stand it, but should I get it out of the market now, or ride it out? I am still working and will have to refinance my house if I stop taking out of the IRA as my job doesn't quite bring me in enough with my monthly bills.

]]> By: Linda http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351124 Linda Tue, 30 Sep 2008 02:36:55 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351124 I moved all my 401k to my companies stable value fund ("guaranteed" return, adjusted quarterly) in April. Am I safe? It does matter "near term" - I am 62..... I moved all my 401k to my companies stable value fund ("guaranteed" return, adjusted quarterly) in April. Am I safe? It does matter "near term" – I am 62.....

]]> By: Connie http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351061 Connie Tue, 30 Sep 2008 02:35:45 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351061 Suzie: I am 53 and am putting 6% into my retirement savings (75% company match) and it is in the following: I have $80,000 in a AIG Valic Money market (I moved it out of stocks last year when I lost $30,000). I also have $120,000 in a Thrift Plan account with M & I, and that I also have moved that into their Money market account. Is it safer to move it to their fixed income account? It's not insured by FDIC in Money Markets but it is insured by FDIC if it's fixed income, correct? I have only about $2,000 credit card debt, and $225,000 balance on a home worth about $375,000. Thanks. Suzie:

I am 53 and am putting 6% into my retirement savings (75% company match) and it is in the following: I have $80,000 in a AIG Valic Money market (I moved it out of stocks last year when I lost $30,000). I also have $120,000 in a Thrift Plan account with M & I, and that I also have moved that into their Money market account. Is it safer to move it to their fixed income account? It's not insured by FDIC in Money Markets but it is insured by FDIC if it's fixed income, correct?
I have only about $2,000 credit card debt, and $225,000 balance on a home worth about $375,000. Thanks.

]]> By: Prabhu Jayasimha http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351047 Prabhu Jayasimha Tue, 30 Sep 2008 02:35:33 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351047 I am an International MBA student in my Final Year MBA in Finance.What suggestions do you have? I am an International MBA student in my Final Year MBA in Finance.What suggestions do you have?

]]> By: Rob http://ac360.blogs.cnn.com/2008/09/29/financial-light-at-the-end-of-the-tunnel-could-be-2015/comment-page-5/#comment-351027 Rob Tue, 30 Sep 2008 02:35:16 +0000 http://cnnac360.wordpress.com/?p=10886#comment-351027 Suze, Being a very small business owner who has payroll, taxes and benefits to pay out every week for our 28 employees, these are scary times that we are in. For the life of me I cannot believe that somehow everyone cannot see that this bill was not designed to bailout the banks but to help out the everyday Joe like me that depends upon credit (and my customers credit as well) so everyone gets paid. If my credit goes away its not that big Wall Street tycoon that gets hurt, no its all of the employees and suppliers that depend upon us for their livelihood. And by the way lets look at the real cause of the mess that we are in, We all know that banks made all kinds of bad home loans that never should of happened, but lets also have some accountability from the people that were accepting these bad loans. If you or I buy a house that we cannot afford, or if we refinance our house to buy things that we cannot afford, or if we invest in real estate that we can't afford. Then maybe we are as much to blame as anyone in Wall Street. No the real culprit here is that too many people have no idea on how to live within their means. Suze, Being a very small business owner who has payroll, taxes and benefits to pay out every week for our 28 employees, these are scary times that we are in. For the life of me I cannot believe that somehow everyone cannot see that this bill was not designed to bailout the banks but to help out the everyday Joe like me that depends upon credit (and my customers credit as well) so everyone gets paid. If my credit goes away its not that big Wall Street tycoon that gets hurt, no its all of the employees and suppliers that depend upon us for their livelihood.
And by the way lets look at the real cause of the mess that we are in, We all know that banks made all kinds of bad home loans that never should of happened, but lets also have some accountability from the people that were accepting these bad loans. If you or I buy a house that we cannot afford, or if we refinance our house to buy things that we cannot afford, or if we invest in real estate that we can't afford. Then maybe we are as much to blame as anyone in Wall Street. No the real culprit here is that too many people have no idea on how to live within their means.

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