A new, more powerful Fed emerges in crisis
Central bank is increasingly aggressive in attempting to stabilize economy
Retirement account losses near $2 trillion
Financial crisis forcing workers to delay their golden years
One of my fren put a message on his msn: 9 to 5, work until 95 ?
Some extracts from A new, more powerful Fed emerges in crisis :
Dusting off Depression-era emergency powers, the Federal Reserve is extending its reach over the economy as never before, pushing the limits of its authority, if not exceeding them.
Now the nation's central bank is even becoming a source of loans for companies other than banks.
Radical steps by the Fed under chairman Ben Bernanke — all in the name of seeking to halt the panic sweeping financial markets — are turning it into a financial colossus. They're also putting the government deeper in debt and taxpayers further at risk if the various moves fail.
Some extract from Retirement account losses near $2 trillion :
The upheaval that has engulfed the financial industry and sent the stock market plummeting is devastating workers' savings, forcing people to hold off on major purchases and consider delaying their retirement ...
"Some people will delay their retirement. In particular, those on the verge of retirement may decide they can no longer afford to retire and will continue working,"
<- what ?
