WSJ reports that seniors’ nest eggs across the country are being shattered by low interest rates the Fed Reserve has put in place since the financial crisis. They talk about the crisis on .24% (the 24/100ths!) at the bank but they totally fail to mention the 7-8% guarantees in the pension markets.
These folks are confusing short-term vehicles with long-term purposes and that’s why they are gong under! Plus, Bruce & Walt really clown it up to make a point.
Posted on 04/10/2011 at 12:00:00 AM