Why are Republicans crying about their 401k's, I thought they were all about personal responsibility?

If you notice Conservatives didn't complain too much about the 700 billion Bush proposal because it was thought that not helping the mortgage companies could eventually led to job loss and financial destabilization for the "financial system". In other words they believed THEY would lose out. -

NEW YORK (CNNMoney.com)

"Paulson, Federal Reserve Chairman Ben Bernanke and other officials have said in recent days that the lack of easy credit between banks and other financial institutions threatens to inflict serious damage on the economy if not addressed immediately."

"This program is intended to fundamentally and comprehensively address the root cause of our financial system's stresses," according to a Treasury statement released Saturday. "As illiquid mortgage assets block the system, the clogging of our financial markets has the potential to significantly damage our financial system and our economy, undermining job creation and income growth"

http://money.cnn.com/2008/09/20/news/economy/bailo...

But now that Obama is directing some of the money in this bill toward American citizens and not Wall St or big business all of a sudden Conservatives have major problems with it.

Any problems that effect "them" and "their" property they turn protectionist over. But if they feel their money will help anyone but themselves then they will complain.

Look at the bailout of the automakers. The prospect of helping thousands of "workers" didn't move them. Why? Because they didn't see any personal gain.

I would have more respect for their argument if they said "enough is enough" to ALL these bailouts but they aren't saying that. It's just because Obama is doing it and that's hypocritical to me.

This is an insipid question. People who work for a living often depend on 401K's for their pension plans. I see all manner of stocks going down, not just "high-risk" ones. We put the majority of our money in stable funds but they, too,are going down. The market has dropped from plus 12,000 down to minus 7000. I don't blame it all on Obama nor Bush. I am happy for you, but your portfolio does not represent the majority of investors.

Responsibly we will work until we have enough to retire money to retire on. We will not rely on the government for that.

Oh, and I don't want the government to take me by the hand, just to leave me alone.

Now that Obama is the president, conservatives are on here every single day complaining about the stock market, their 401ks, their retirements etc. Since most of the losses occurred before Obama took office, their whining not only betrays a lack of practicing personal responsibility but also an inability to honestly attribute fault where it is due.

That I suppose also displays an inability to practice personal responsibility since Republicans never ever assume any when it comes to the effects of their bad policies.

I was smart and took action early. I've barely lost anything in my 401K. :) Inaction is what is causing most of the people commenting on this question to be crabby. They weren't watching the past 2 years and just sat around twiddling their thumbs.

Not just republicans have 401ks... Everyone I (a nurse) work with has 401ks... its a way to save up retirement. And I get ticked too, every time the president talks, my retirement goes down the toilet.

To answer your question;

I switched my portfolio to gold and other precious metals just before the election. My net worth has gone up 40% since Obama has been elected since gold went above $1000 a ounce and still climbing. So you premise is false, Obama's failing economic policy is only making me richer.

The stock market is tanking partially due to the fact that Obama is planning on taking money away from the contributors of our society to give to the welfare leaches.... The rich are backing off on investing their money because the have great fear of how Obama is exactly going to go about stealing their money.

Uncertainty bred of fear of the socialist, liberal, Big Brother plans of the nefarious Obama.

NOBAMA!

I seriously doubt that you haven't lost a dime, and I doubt that you are actually making money. and responsible republicans have heeded the words of truly knowledgeable talking heads like Rush, Savage and Beck, and took our greenbacks out the markets and bought gold.

And Obama is destroying the retirement accounts of millions of people. Why the love affair with that turd. He is destroying the country? Please explain the love affair with that turd.

What are you talking about? Yes we are upset that the economy tanked and are investments are worthless; BUT...we understand the idea of a free market. What upsets us is that the President has done nothing but spend more money and compound the problem; he should have kept his hands off of it. I don't want government money; and I don't want another bailout!!!!

President Bam Bam open his mouth and the market drops 300 points.

V.P Bilbo opens his yap and the market drops 150 points.

and now the market is below 7000 points !!

P.S. My accounts are fine. hehehehe