Comments on: Lehman CDS Auction Hammers Australian Resource Stocks http://www.dailyreckoning.com.au/lehman-cds-4032/2008/10/13/ An independent perspective on the Australian and global investment markets Sun, 21 Mar 2010 06:50:02 +0000 http://wordpress.org/?v=2.8 hourly 1 By: rick e http://www.dailyreckoning.com.au/lehman-cds-4032/2008/10/13/comment-page-1/#comment-46956 rick e Fri, 17 Oct 2008 05:20:08 +0000 http://www.dailyreckoning.com.au/?p=4032#comment-46956 If the government is going to fund the banks with tax payers’ cash then it should be done this way. This is for middle to lower income earns’ and self funded retirees. We all have documentation on how much our super portfolio went down between 2007 to 2008 The government puts a limit on say $3 000 of losses from super accounts. For the middle to lower income earns’ the government opens a bank account for you and it is preserved and puts the $3 000 in, it stays there for 5 years and can be rolled over back into your super or left earning interest. For the self funded retiree then your loss of $3 000 or less also goes into a bank account and this gets drawn down with your existing retirement requirements. At least some goes back where it came from If the government is going to fund the banks with tax payers’ cash then it should be done this way.

This is for middle to lower income earns’ and self funded retirees.

We all have documentation on how much our super portfolio went down between 2007 to 2008
The government puts a limit on say $3 000 of losses from super accounts.

For the middle to lower income earns’ the government opens a bank account for you and it is preserved and puts the $3 000 in, it stays there for 5 years and can be rolled over back into your super or left earning interest.

For the self funded retiree then your loss of $3 000 or less also goes into a bank account and this gets drawn down with your existing retirement requirements.

At least some goes back where it came from

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