I am so blown away with the news that an 80+ year old company needed to be bailed out and sold off for 87% of its value. The Bear Sterns, which was our country’s 5th largest investment banking firm, now has its employees going through and experiencing what many Enron employees did. This was a company that survived the 1930′s depression and has a large portion of its company (something like 30%) owned by its employees. Imagine having your retirement depreciate nearly 90% in a day! Poor management of company assets lead to bad investments that made the company near the brink of bankruptcy. Unlike Enron, this wasn’t money “technically” stolen by the company leaders, but it might as well have been. I GUARANTEE we will see officers of the company being investigated for criminal activity, hopefully all of them will be clear and innocent.
Read closely to what history has told us in the past… Our dollar is in immediate jeopardy, and it will soon go into hiding in a big way. Start moving your funds into assets that will not free fall when this happens. I heard a comment from someone say that they are leaving 40% of their retirement in the stock market and they are willing to let that money ride the next downturn for 20 years… Are you thinking the same thing?
Get educated, think different…