March 2, 2009
That is about in line with most 401 plans. I think they likely are diversidied. This is just panic which Bernanke seems to want because he is not doing much. And Ms Schapiro at the SEC refuses to curtail the unrestricted short selling that dominates the market right now. Until november 2007, there has been a rule in place that short sellers could not sell a stock short unless the previous trade was an uptick. Therefore these hoodlum short sellers could not crush stock after stock. That rule was in place since 1938. Then idiot Bush and Cox eliminated the rule. Short sellers want to frighten people. But MS Schapiro does not seem to understand anything about the markets. Whatever. I have sent 100 emails to her mailbox and I will send a copy of these comments too.
Sent: Monday, March 2, 2009
To: Williamson, George
My 401k statement says change from jan 1, 2008 to jan 1, 2009 = -38.54%