Another government group eyeing Americans' retirement money

[Fox Terrier]

If true, I am glad I emptied my 401k.
There still is a token amount in it, but that's all.

[KUchief25]

Originally Posted by Taratova

Many are heeding the warnings and the wealthy are taking their money out of investment banks.

WARNING: Get Your Money Out: "All Legal Bank Deposit Protections Are Now Officially Gone"

"A few weeks ago, the Federal Reserve also implemented a new policy for money market funds held by financial institutions. Per the new policy, money market funds, which account for some $2.7 trillion in deposits across the United States, can be frozen in the event of an emergency or financial panic. This means that if and when the system does go into a tailspin, at exactly the time people will want to pull their money out of their bank account, they will be restricted from doing so."

They can just seize your damn money. Scary times.

[HappyTexan]

Originally Posted by KUchief25

"A few weeks ago, the Federal Reserve also implemented a new policy for money market funds held by financial institutions. Per the new policy, money market funds, which account for some $2.7 trillion in deposits across the United States, can be frozen in the event of an emergency or financial panic. This means that if and when the system does go into a tailspin, at exactly the time people will want to pull their money out of their bank account, they will be restricted from doing so."

They can just seize your damn money. Scary times.

Well what they discrovered in the last crash is that there wasn't a physical run on the banks.
It was a digital run and now we have money market funds in brokerage firms that people treat like savings/checking accounts.

This prevents the "digital run" on money.

[KUchief25]

I'll have to start drinking coffee again. The empty cans will come in handy.

[jwm1964]

Originally Posted by monkeywrenching

they cant manage their own money, how in the hell do they think they can manage someone elses?

It's not about managing, its about theft.
You can't have any money laying around DC that they aren't going to fight over.

Government under Obama and Democratic leadership has given up any pretense of fiscal responsibility or respect for american taxpayers.

Obama refuses to pass a budget.
Obama asserts we do not have a debt problem.
Obama asserts we do not have a spending problem.
Obama asserts we have a revenue problem (that means yours, mine and all the other taxpayers $$$).
Obama refuses to compromise on Spending Cuts.
Obama blames Bush for the economy up to winning a 2nd term in office.
Obama blames the GOP for the economy after winning a 2nd term in office.
We learn after Obama takes office for his 2nd term the economy actually collapsed last year.

Does anyone else see a pattern here?
Does anyone else think to not see a pattern here, you might need to be slammed over the head with a sledge hammer instead of the regular hammer we are being pummeled with?