What retirement?

Sometimes my husband makes so much sense! During a conversation about the obscene bonuses the bankers are getting he made this observation-

“Why the hell are they giving million dollar bonuses to the assholes that lost our retirement savings? Why aren’t the banks and investment firms putting that money back into the IRA’s and the 401k’s that were devastated by their stupid risk taking?”

For that I have no answer. We don’t want a lot for retirement- just a modest RV so we can visit the National Parks and our children and grandchildren. Not asking too much I don’t think. The money was going in to the 401k on a weekly basis- and we sacrifice to put that in there. It’s not much, but it is ours. We did not have it in a high risk profile- getting to close to our 60’s to risk – and yet- we lost HALF!

And yet here are the same bankers that caused so many to lose so much- being rewarded. They are just “too valuable” for their firms to lose. Not one single investor that I know of has gotten one dime back. They use our investments to fund these million dollar bonuses and give not one penny back to the customers!

Hubby has moved our joint account to the local credit union and ASAP we will be trying to take every penny (of the few pennies on the dollar we have left) out of that 401k and transferring it to the safekeeping of the credit union. Why should these bankers be rewarded for risking OUR money???? Not only do they get bailed out with our tax dollars- they take OUR retirement money and give it to these assholes!

What retirement? In one year the investment firms wiped out the retirement dreams of untold numbers of working class folks like us. No more! They live like kings off the hard work of the peasants. Sorry- this peasant has had enough!

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4 Responses

  1. I hear you. Under Bush and then the final Obama blow, I lost more than half. And my dividend checks have been reduced by 70% besides. It was a huge blow.

    That’s what happened when your government represents the robbers instead of the victims. In fact, they represent them so well, they give them billions so they can all have nice fat bonuses for robbing America.

    • Well getting the weekly money out of PNC and into a credit union is a start. Now to figure out how to get the damn 401k- hubby is 60 in August so we have to get that money somewhere safe- fast- while there is ANY left!

      • Well I don’t know if it’s wise to move it. If it’s in blue chips, can you wait five years for a turn? The way I see it, if I moved my money now, I for sure take that loss, but if I ride it out, the market is bound to rebound. It always has. And if everything bottoms out, it won’t matter and we will all be going up in the woods with a bucket of water anyways no matter where we put the money.

        • Waiting on the quarterly report to see if any of it is coming back- HMM- it’s mid Feb= wonder where that damn thing is anyway!

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