2016 Postmortem
Related: About this forumAbout Lew and his $56,000 Cayman Island investment -
Do we want someone who invests $56,000 without knowing where it is going handling our money? Either he is very stupid, very trusting or has waaaaay too much money.
On a more serious note, I wish he'd had the guts to say something like this:
"Of course I invested in the Caymen Islands! Given our current tax code, that's the most prudent thing to do!"
With regards to his bonus while the bank was falling down around him:
"Of course I took the money! I was a banker, not a hermit! "
yellowcanine
(35,699 posts)I have money in my 403 K which I have no idea where it is invested. I have looked at some of the listings and the titles of the various funds are pretty much meaningless.
hedgehog
(36,286 posts)you'll be able to get a general idea of where the money is going.
yellowcanine
(35,699 posts)investment guy based on the investment goals.
hedgehog
(36,286 posts)I really think he knew exactly where those funds were, but everyone agreed not to admit that that's where they all have money!
yellowcanine
(35,699 posts)adviser also for his own money - in fact, I would prefer it that way. He should not be making decisions based on how it affects his own portfolio. But I have enough trouble keeping my own finances straight without speculating about what some muckity muck might be doing. If he might have done something untoward, ok, let's have it investigated by people who know what they are doing. But it is probably not that useful to speculate about specific investments. Investments are very complicated and things aren't always what they appear to be.
LiberalFighter
(50,950 posts)What is his rate of return?
Where and how much of the rest of his money is invested?
geek tragedy
(68,868 posts)is even going to get his attention.
He lost $2k on the investment.
Not sure what the big deal is.
Oh wait, I do. Republicans are using it against him. The financial version of BENGHAZI!!!!