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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: vegetarian who wrote (115883)	9/20/2008 7:31:50 PM
From: Knighty Tin	Respond to of 132070

The only way to find out who has broken the buck is to check the closing price on a specific fund. I remember one nearly breaking a buck back in 1981, but Merrill bought it out to save the industry. Oh, well, Merrill's in no shape to rescue anyone this time around, and needed rescue themselves. They also rescued the brokerage industry back in the 70s when Ross Perot took down I.M DuPont and Walston & Co. Too bad they didn't stay solvent themselves. 401K plans usually suck. Getting company stock is a bad deal, usually, too. I know everyone at Smith Barney thought I was nuts to sell my Citigroup stock as soon as I was able to do so in my 401 K. And they could never understand the reason why I didn't participate in the plan that allowed me to buy C at a 25% discount, with the only hangup being I couldn't sell it for 5 years. Now they know. <G>