Should we think about a Class Action Law Suit?

Well if I was to ever do what I wanted to do, I would have the car that I always dreamed of owning and it would hug the track and do around a mere 200 mph... Knowing you we would be finding out if it really does 200 mph... At that speed I would be wide awake watching yer every move, smooth and steady and we will see how close to the wall you can drive... Now how are you in traffic? As our lawyer you did provide a waiver right?

STOP!!! yer asking me too many questions! I get confused easily! my answer is BLUE!

Of all the things about me that should scare ya.. you let my driving scare ya! sheesh!

Here is the thing I moved some stuff around and made sure that I was spread out really thin, but all the same I still took major losses. Now as I look back I see the truth, we have all been lied to all along. My greatest fear of gambling with my money has once again come true, it is like the boys on the playground they cheat and take everyone's money, I learned real quick as I watched them play with each other. Now we all know that the social security system is a failed system and my fear of the stock market then when the 401K project was proposed and we were all but forced into participating that this was a risk and there were no guarantee's. Here is the thing that I realize now... The crooks are the leaders of the corporations that have swindled our earnings by putting mortgage notes on the stock market, if it would have been left to business loans where would we be today? Who allowed the bundling of those mortgages to get out into the market? How would that have changed the bank and the insurance companies reserve and that is another issue, the federal reserve insures the money in banks for what reason? Has a bank ever needed to fall back on the FDIC to bail out a deposit? I wonder what the statistics are for that agency to be required to be in existence? Maybe the FDIC as a resource should be redirected to risky investments. Where there is risk that is where there should be insurance, the rest can be planned for. Good planning equals no risk...

I agree with all you've said but I think that your anger towards large corporations is misplaced. Though many are fraught with corruption, they gain nothing by taking advantage of their employees. To do so is short sighted. It happens but that is not the big problem in my opinion. It is our government and our tax code. All the deferred tax, qualified retirement plans are designed using the tax code. a qualified plan is a tax deferred plan. Qualified by whom, you may ask. By the government and our tax code. We advise that you DO NOT use a tax deferred plan for your retirement. Think of it this way. If you were a farmer, would you rather pay tax on the seed or the harvest. The seed of course, it is a much smaller amount. That is how these tax deferred retirement plans work. They are huge annuities for the government. they know how much money is invested in those accounts and they know when each of us will be required to start withdrawing from them. Our tax deferred retirement accounts are not assets for us, they are assets for the government. That's why there is always such a big push to get people to invest in them. It's a crying shame.

For sure and soon... I'm watching... As is the rest of the world...

Been if it for a few years as long as his emplorer has done the 401 k deal. You might have to cut loosses and get it done!

It sounds like he just got into the market... I'm thinking of cutting my losses, I can't take anymore losses...

I hope that the Democrats take the initiative and get the ball rolling on this issue, they could capitalize so big, by prosecuting the people responsible for the losses and taking back what was stolen. The exposure might make your skin crawl, especially when it is revealed who all is responsible for our current state of business both nationally and globally. We might flush out a few people that you would not suspect.

I do not trust the Democrats. I am sure that there are some to blame - after all they were for giving loans to people on basis of color and ethnic group on who would be unable to pay back. I am sure that it was not just the Republicans in the last term or Bush who did so, but I am positive that when the class action does occur, they will make sure that they look lily white and it was all Bush's fault.

The elite traders are not worried they are sitting pretty, they should be prosecuted and a class action would be a good start, sign me up... There are other things we could do also, Getting those interest rates down so that people can refinance would be a great start.

Oh I have been reading about those things today. Part of research for the story I am working on and came across some very interesing sites. I will get them posted when I get my notes together. Ainge

An international petition on behalf of all the poor people that have lost out... Let's shake the money tree's...

Yep, I hate to see people fall behind for things that are not of their own doing, and that is where we should all be covered by an insurance plan. But for the things like you described and some of the obvious abuses that were flagrant. Those people should have to work and work hard to get back up to the top they should be required to pay back their past debts. There are plenty of stories floating around about CEO's and wasteful spending along with big bonuses. Where did all of their money go? If they still have it and the company is failing, they should be held accountable and forced to repay the company and the employee's especially if fraud was a part of their program. Any deception should be traceable money always leaves a trail. Those that you lent money to they should also be held accountable, because there is a money trail. People do not leave with out a trace, they steal and then hide. Some hide right there out in the open as though they have done nothing wrong. It is truly frustrating.

Who gave THEM all that money? Hmmm?

This is not taxes the issue is corporate theft, the Executives that have been ordering people to dig deep to acquire all of the gold and not sharing with others, especially the employee's that have been working hard to only have their earnings pilfered. It is pure and simple greed and selfishness at work. Taxes are the least of the problems, we have to worry about the grip of the claw that won't share the wealth, the only way to beat a recession or depression is to get below and support or stop the collapse we do that by all working together. There has to be a plan for all of the poor people to move back up and away from poverty. Civil unrest is already breaking out... There is more to come if we don't turn this around and soon... It would be a good sign to see that the stock market rebounds from found money as bills are paid instead of people filing for a free handout and putting the entire burden on the rest of us. The bad mortgages should and could be converted and all mortgages could be re-written as a small profit is much better than a loss. In other words the lending rates have to come way down yet... Make it worth while to refinance and put people back to work... The Democrats could come out smelling like roses... Big time...

Well I figure this way, they can't evict everyone of us from our homes now can they? So far it has been selective pickings, but if we are all out of money what can they do?

YEah, and houses are moving real fast not... When you see the same house on the market for months and the reports you know in the housing industry are true... I can't wait for the mortgage interest rate reduction to come, it has to happen soon and this time the mortgages have to be fixed and that will be the end of monkeying around with the lives of hard working people. We will get the engine started again, as this stall has gone on long enough, the terrorist is no longer in control of the plane... We can recover from this intentional dive...

I made that same observation to the person who financed this house. He told me he had other people wanting housed all the time and it wouldn't take him long to resell it. I told him that he knew we would catch up when we got our tax refund back and that we always got a large refund because of the children. He could put us out and resell the house but he would be out of what we were behind and he would probably end up with someone who was no better off financially than we were because the economy was in the dump and everyone was losing their jobs.

See the post below, It is an international crime, in the U.S. we were encouraged to participate in the 401K program because Social Security was bound to fail and this way our generation could provide for our futures, of course there was risk, but think about the risk, how much risk is there when you are lending to venture capital for corporations that would have to pay a lot more for the money if borrowed on a commercial basis. See below in post #2 I think that Anomalie said about the gambling and summed it up very well...