[seatrout]

If it wasn’t for the fact that most people have their retirements in 401(k)s and 403 (b)s, most people wouldn’t have to worry about the stock market. This is why we need DEFINED pension plans that are INDEPENDENT of the whims and vagaries of the financial markets. IMO the Dow is acting like a spoiled brat; it throws a temper tantrum (i.e. drops) when things aren’t going its way.

[Wyatt's Torch]

This is why we need DEFINED pension plans that are INDEPENDENT of the whims and vagaries of the financial markets.

What is it that pension plans invest in? I used to work for UPS who still has a defined benefit plan which is completely funded and one of the best around. They invest in financial instruments and real estate. Not sure how it would be immune to "whims" or "vagaries"...

[EBH]

First most 401Ks etc. now have a way to move out of the market and into cash without penalty. Those who didn't manager their money I don't feel sorry for.

Second, anyone with half a brain who had been paying attention would have known their funds were becoming more risky, not less. At some point one should have made the rational decision to get out of the market (losses) vs. the penalties & taxes. I made that choice on Nov. 5th. Since then I would have lost another 60% vs. taxes/penalties.

Lastly, everyone in a 401K etc. knows they could lose value. It is printed every quarter on their statements.

No, folks still holding onto 401K and not managing their own money are apathetic fools.

[longtermmemmory]

no the market is not acting like a spoiled brat, who do you think invests in the market? Ordinary people not just 401k’s or 403b’s.

Your class warfare observation is just nonsense.

[ExSES]

This is why we need DEFINED pension plans that are INDEPENDENT of the whims and vagaries of the financial markets.

And, while you are at it..., wish for free zero point energy and perpetual motion machines! What do you think defined benefit pension plans invest in (hint..., stocks and bonds)

[Thermalseeker]

If it wasn’t for the fact that most people have their retirements in 401(k)s and 403 (b)s, most people wouldn’t have to worry about the stock market.

Given recent comments by Bwarney Fwank and others, if I had a 401(k) I'd be far more worried about what Congress has in the works for those funds.....

[AndyJackson]

IMO the Dow is acting like a spoiled brat; it throws a temper tantrum (i.e. drops) when things aren’t going its way.

IMHO the stock market is just reverting to the norm, now that credit expansion cannot keep prices at unrealistically high P/Es.

[nicola_tesla]

There’s no such thing as a free lunch. For Pete’s sake, where do you suppose company pension funds invest ??????

You’d prefer to be treated like a child while being kept in the dark where your pension money is sitting ?

Good luck with that.

[Toddsterpatriot]

This is why we need DEFINED pension plans that are INDEPENDENT of the whims and vagaries of the financial markets.

Yeah! Like Social Security and GM's pension plans, independent of whims and perfectly safe and guaranteed. LOL!

How many times did your mom drop you on your head?

[Kozak]

If it wasn’t for the fact that most people have their retirements in 401(k)s and 403 (b)s, most people wouldn’t have to worry about the stock market. This is why we need DEFINED pension plans that are INDEPENDENT of the whims and vagaries of the financial markets.

And how are you going to do THAT genius? Even defined pension plans invest in the market. They just don't let YOU decide where to invest the money. Ask the guys in every company thats gone bankrupt and the ones about to go bankrupt how those wonderful "defined pension plans" are working out. Oh yeah, all except the government drones, but they get to hold a gun to the head of the taxpayers to make sure the milk keeps flowing from the teet.

[thecabal]

IMO the Dow is acting like a spoiled brat; it throws a temper tantrum (i.e. drops) when things aren’t going its way.

n00b, that has to be one of the most ignorant things I've read on FR in a long time.

[politicket]

IMO the Dow is acting like a spoiled brat; it throws a temper tantrum (i.e. drops) when things aren’t going its way.

No...it throws a "temper tantrum" because big bankers and the Fed are robbing the middle class blind.