As expected, the Pandora’s box called the “Pension Protection Act of 2006” is full of nasty surprises. The Wall Street Journal (October 25, 2006) reported that the new “Pension Law Shrinks Lump-Sum Payments” to workers. See: New Pension Laws Will Alter Capital Flows Here is how Congress managed to cheat American workers: Under the old law, when […]

In recent articles, I wrote of the General Accountability Office’s endorsement of Wall Street’s rosy view of the retirement prospects of Baby Boomers, and also questioned assumptions regarding expected total return on which these views are based. The Great Retirement Experiment One question that remains is the value of assets that Baby Boomers must sell in future […]

On November 7, 2006, the American people will go to the polls and most likely (according the recent betting on Tradesports.com) elect enough Democrats to Congress to give that party control of the House of Representatives. This means that Nancy Pelosi will probably become Speaker of the House and, in accordance with US laws of succession, […]