I didn't move my 401k to cash since Tim Geithner swore there was no risk of a downgrade. Now I have lost $15k and by the time I can sell on Monday I expect this number to at least double. Can I sue Timmy G for damages?
Di
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When Geithner - who made a "mistake" on his taxes and underpaid, blaming Turbo Tax software for the "error" opines - I generally take the position of the opposite to what he says. When our leadership tries to reassure voters, you can pretty much bet it's propaganda, not reality.
Dispenser of Truth
Ride it out, it will bounce back. You can't sue because there are risks with 401k accounts. Read the fine print.
Michael B
Pull it out on monday and put it into CDs and take the loss next time do not gp for high risk.
Anonymous
That's what you get for not doing your own homework. I cashed out in May when I realized B0ehner and the Baggers were going to take the economy on a kamikaze dive.
Sucks to be you.
Dennis P
It's sad that almost all people in congress - white house are immune from all prosecution.. They are all liars and have been for years and years..