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Politics : PRESIDENT GEORGE W. BUSH
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To: MKTBUZZ who started this subject6/27/2002 7:11:53 PM
From: goldworldnet  Read Replies (1) of 769670
 
I voted for Bush, but I'm afraid I am at odds with some of my fellow Republicans on this. When Bush first proposed a self directed SS I was somewhat apprehensive about the prospect or at least until precautions were taken, because I knew the market was unstable. During the Clinton years the stock market was cooking and the Champaign was flowing. Anyone with much sense knew it was too good to be true. Much of the capital invested in the market came from 401Ks. Personally, I put my 401K money in bonds and always have. Most people's 401Ks are comprised of funds or stock in the company they work for. Basically, 401Ks pumped a lot of money in the market. Additionally, market problems in other parts of the world pumped even more money into the US market further inflating share price with PEs through the roof. We're talking about lots and lots of money. Of course everyone now knows that there were some people that started playing fast and loose with all that money. Personally, I think people should have a lot to say about how their money is invested. However, it is naive to believe that congress can legislate many billions of dollars from another pile of money into the market without additional safeguards and not have the wolves come out to feed again.

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