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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (247179)6/25/2003 5:13:57 PM
From: Knighty Tin  Read Replies (1) of 436258
 
Patron, those retirees are such cranks. First, they get defined contribution pensions which require a "worst case rate" so they can continue to live. Unfortunately, we sank below worst case about 200 basis points ago. Then, they find out that the annuities they bought that paid them such high rates only pay them back if they die and the high rates they received were really their own money being returned to them. Such a deal. Now they have the eventual popping of the real estate bubble to take away the only asset they have left. When the Fed and the Administration decide to team up to get ya, they get ya.
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