Reply #10: Sounds like thievery.

[Festivito]

They owed that money to the teachers. They're in default. Demand it.

The stock market fall does have roots in CDO/CDS et. al. People are not reveling in rich people falling, that's just a classic strawman.

1. Pensions depend on stocks, yes, PLUS bonds, and even commodities such as gold. Not just stocks. They should be fine if diversified.

2. Insurance companies need liquidity, not "return" dividends.

3. Yeah. Feeling of security also adds to willingness to spend.

4. Huh?

Still, the retirement accounts are suspect now. The CDbombs are inside retirement accounts all over the country.