The View From 1776

My Sentiments Exactly

Dennis Bucholtz is a retired dye-making trade worker who labored in the auto industry, but not as a member of the socialist, syndicalist UAW.  Much of his retirement income depends upon his investment over the years in GM bonds.

Posted by .(JavaScript must be enabled to view this email address) on 05/27 at 02:01 PM
  1. While I sympathize with any investor who loses his nest egg, Buchholtz apparently had all of those eggs in one basket. Was he blind to the fact that GM has been on the decline for decades?

    Elementary rule number one for all investors is diversify!

    Should we weep for somebody who invests that stupidly?

    Everybody I know, has lost quite a bit of retirement investments in the last year, so the fact that Bucholtz was not "made whole" is not at all unusual.

    Mr. Bucholtz is no worse off than those who lost out if they had heavy investment in Enron, Arbusto, Harken Energy, Lehman Brothers or Bernie Madoff.

    If he wanted a risk free investment, he should have put his money into CDs. He took a risk for an increased gain, and lost out.
    Posted by .(JavaScript must be enabled to view this email address)  on  05/27  at  04:24 PM
  2. Well, if it was the other way round and the Republicans were in power the bond holder would get the more generous handout, because that's where Republicans get their support.

    It is for the same reason that the last administration was so generous in bailing out Wall St., because Wall St. bad contributed so much to Republicans. Also, Bush was cleaning out the Treasury before he left, giving money to his friends. Talk about 'crony politics'.
    Posted by David Airth  on  05/27  at  05:57 PM
  3. Look DA, the system we've developed over the years has been constructed to benefit the banks and the free-spending politicians. One thing you've got in common with GWB is the blind complacency that comes with working within a broken system simply because it's there. It's called a lack of imagination. A systemic failure of our current fiscal and monetary arrangements has been in the works for years. What's Obama doing differently? He's not 'cleaning out the treasury?
    Posted by .(JavaScript must be enabled to view this email address)  on  05/28  at  02:06 PM
  4. "No one is smarter than their criteria."
    selah JFB
    Posted by Jim Baxter  on  05/30  at  11:48 AM
  5. The democrats controlled Congress and they passed the legislation that bailed out the banks. They still have control and are still bailing out the banks.

    It doesn't matter which party has the Presidency on most things. Congress, not the President, drafts and passes legislation and the President can only sign or veto what they pass.

    Our system of government was designed to give Congress, which represented the people, the power to create the budget and determine spending and to pass the legislation the people they represent want. Not the President.

    Both parties fill the Presidential appointments with people from the same source, CFR, Trilateral Commission and Bilderbergs. While there are differences in many domestic policies, esp. social issues, they both cater to the money suppliers because that is who has the real power over the economy and much of what goes on in the nation.
    Posted by JanPBurr  on  05/30  at  12:57 PM
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