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...time was heading the USCCB's pro-life committee, sent a letter to members of the House Energy and Commerce Committee that appeared to signal that there was room to accommodate Catholic concerns. The USCCB, Rigali wrote, wanted health reform to continue the policy of preventing "direct federal funding of abortion." The language was important because it seemed to match an amendment drafted by Representative Lois Capps, a Democrat in California, to address pro-life concerns. Under the Capps amendment, which the Committee approved, no federal dollars could directly fund abortion procedures. An individual could obtain an abortion...
...Americans have 401(k) accounts. So not enough people are participating. But even among those that do, the amount of savings that the 401(k) is producing is not nearly enough. The average account has enough to live on for a few years at best, not nearly enough to fund a full retirement...
...silver spoons in their mouths, but they've got them now. Not silver spoons, exactly, but silver bullion. "My little girls don't own stocks - they own commodities," he says, "and that's why they'll be able to take care of me in retirement." Rogers, a former hedge-fund manager, author and B-school professor and now bicontinental showman (he lives in Singapore and New York), was slamming stocks and praising precious metals in front of an eager audience of investors who had packed a basement auditorium in midtown Manhattan to hear their favorite teacher. (Read "How to Know...
...into the Great Recession, it's time to face the truth: optimism feels good, really good, but it turns out to be the methamphetamine of run-amok American capitalism. Meth induces a "Superman syndrome." Optimism fed into what Steve Eisman, a banking analyst who foresaw the crash, calls "hedge-fund disease," characterized by "megalomania, plus narcissism, plus solipsism" and the belief that "to think something is to make it happen." The meth-head loses his teeth and his mind; the madcap optimists of Wall Street lost something like $10 trillion worth of pension funds, life savings and retirement accounts. (Read...
...would provide a guaranteed monthly check equal to about a quarter of your final pay, from when you quit working until you die. Some employers might even be willing to pay the annual premium as a perk. If not, employees would pay for it much as they currently fund their own 401(k)s. But the policy would be portable. Contribute for 30 years and you would be guaranteed income in retirement, no matter how many employers you worked for. Combine your retirement-insurance check with the money you get from Social Security, which can equal as much...