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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Bridge Player who wrote (101592)	2/22/2005 9:15:48 AM
From: Lane3	Read Replies (1) \| Respond to of 793752

That's some of the best financial CYA boiler plate that I've seen <g>. As you suggest, CYA exists to limit liability. Giving a customer a statement of risks and asking that customer to attest that he understands the risks before investing should be enough to protect a corporation from liability in court. And enough to protect Uncle Sam, as an employer, from such liability. But SS investments are in a different venue, a political one. Even if SS customers have no one but themselves to blame for their losses, there may be political pressure to make those customers whole. Failing that, there is the backup entitlement of the customer to welfare. In either case, the taxpayer may very well end up paying for the customer's mistakes. That's a risk that must be considered in planning this new program.

To: Bridge Player who wrote (101592)	2/22/2005 10:06:17 PM
From: Sully-	Read Replies (1) \| Respond to of 793752

Call it what you wish. Keep in mind I only posted evidence to support my POV that was the low hanging fruit (I.E. very easy to find quickly). The TSP website contains a plethora of valuable information. In addition to that site, everyone received plenty of other sources of information. Unlike kholt's baseless diatribes, every employee was given far more quality information than she implies, replete with full disclosure about risks in layman's terms. We all received more than adequate training & we had to sign statements that we fully understood the risks for each investment vehicle. They were presented clearly & up front so you knew that some investment vehicles could face substantial losses to your principle & how it could occur. Anyone who is going to place their own hard earned cash in the TSP should have spent an hour or two researching what was the best manner to do so for them. If they even did that tiny amount of research, they would have known about the potential risks in each investment vehicle. FWIW, as much as I have personally witnessed the Federal Gov't screw up the most basic things; I thought that the Thrift Savings Program was more open, honest & complete than any investment advice I've received in the private sector.