Mr Lee Posted November 22, 2010 Posted November 22, 2010 If BOA goes down the tubes then I suspect many banks worldwide may follow. How are you all hedging your bets to make sure you do not lose all of your retirement savings? I know many of you may not have savings but for the question is for those who do.If what one bank employee said on the stand proves to be accurate, paperwork problems it acquired when it purchased the failing mortgage provider Countrywide in 2008 could leave BofA on the hook for billions of dollars.The story HERE Link to comment Share on other sites More sharing options...
Genius Posted November 23, 2010 Posted November 23, 2010 No problem for me I ve the full guarantee of the irish government behind my deposits. HO HO HO! Link to comment Share on other sites More sharing options...
Tom in Texas Posted November 23, 2010 Posted November 23, 2010 ... How are you all hedging your bets to make sure you do not lose all of your retirement savings? This is not a recommendation... just my answer to the question -- 50% cash / 50% U.S. Treasuries.At age 40 and again at age 50 I got my ass busted big time with "safe hedges" while the economy plummeted. Could not afford to take another whipping at age 55 (2007), so when things got shaky... I went to all cash, then in 2009 just barely stuck my toe back in with 50% bonds. Returns are zilch, but I can sleep at night. Link to comment Share on other sites More sharing options...
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