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View Full Version : Mr. Schwab tells it like it is--how Obama/Bernake are screwing seniors/small savers



Mainecoons
10-18-2012, 07:17 PM
“And what has happened is the Obama administration has really deferred to the
Federal Reserve to do anything that might help the economy. They brought
interest rates down. In fact, they brought rates down to near zero.

“Who
took the brunt of all of that? It’s the seniors. There are 40 million seniors in
the United States. Florida has a huge population of seniors and these people are
suffering. They get virtually no interest on their CDs, their money market
accounts, their savings accounts. These are things that people planned on 35, 40
years ago. They’ve just seen their income, their nest egg, sort of
disappear.


Read more on Newsmax.com: Charles
Schwab to Newsmax: Obama's Economics Crushing Seniors (http://www.newsmax.com/Headline/schwab-romney-taxes-economy/2012/10/18/id/460590#ixzz29hPzWUVl)

Lots more really good common sense from this very smart and successful man.