Another sign of the (financial) apocolypse
McCain is calling for regulation changes to end mandatory sales of retirement funds at age 70 1/2. Why should people be forced to sell when the market is “hurting”? Ugh! Since when does McCain know how and when the market will recover? In fact, he’s stumbled on to part of the problem: retirees *need* to take out money from the market continuous to live on! That is at the heart of the current (and ongoing) financial crisis.
And ladies and gents, it is only going to get worse as more and more baby boomers approach retirement age. Demographics are destiny!