Ben1607 (November 30, 1999 at 12:00 am)

@khanacademy -- Ive noticed that Mr. Kahn seems to have a very interesting relationship with "his wife". Every time he brings her up he is mentioning how she disapproves of something he is doing. I would suggest Mr. Kahn make his own descisions, especially if his wife is just projecting useless judgment onto him

WizzRacing (November 30, 1999 at 12:00 am)

The removed Glass\Steagall in 1998 In the nineteenth and early twentieth centuries, bankers and brokers were sometimes indistinguishable. Then, in the Great Depression after 1929, Congress examined the mixing of the “commercial” and “investment” banking industries that occurred in the 1920s. Hearings revealed conflicts of interest and fraud in some banking institutions’ securities activities. A formidable barrier to the mixing of these activities was then set up by the Glass Steagall Act

THEworldisbutaDREAM (November 30, 1999 at 12:00 am)

wow thanks this is helpful!

notme222 (November 30, 1999 at 12:00 am)

@quikesanjur We have lots of different levels: Social Security: US government provided, funded via special tax, available to everyone @ 65. (And due to be under-funded in a few years.) Pension: Provided by employers, sometimes a company, sometimes a state or local government. The money pool is managed by experts, following rules. 401k: Employer/Private co-op with special tax rules IRA (Investment Retirement Account): Private savings with special tax rules. Others too, plus your own svngs

quikesanjur (November 30, 1999 at 12:00 am)

@notme222 Im from Spain, so that means: I dont speak good english xD, and that I tend to read about economy these days xD. I guess the word is "retirement account". In US, that is provided by your employer? or by the government? Here, as far as I know, part of your salary goes to the Social Security (mandatory), which will give you a pension when you retire. Additional you can hire a private retirement pension.But the thing, is that the state is more secure that a private company, apparently! xD

notme222 (November 30, 1999 at 12:00 am)

@quikesanjur Yeah I was going to say that but ran out of room. :) In the US, the word "pension" only refers to an employer's plan. Social Security (provided by the fed gov't) would never be called "pension" here. I don't know your country specifically but I do know that in some places a "pensioner" is anyone on a retirement account. That's not how people in the US would speak though. And gov't plans of course have their own problems, but that's a whole other thing. :)

quikesanjur (November 30, 1999 at 12:00 am)

@notme222 Maybe I am mistaking with retire pension, which I though is for when you retire. It supposed to have nice interest (provided by the state), cause that money you save (or invest) is for your living when you wont be able to work (not for making fast money). The think is that if you keep your money on your pocket it can end up worthing nothing (like happened in Argentina) or in a private bank, it can go bankrupt. The State its supposed not to go bankrupt.

notme222 (November 30, 1999 at 12:00 am)

@quikesanjur Well, the idea of a pension is that you want to take out more money than you put in. That can't happen if the money is just stuffed in a box. There are rules to predict how it's managed but of course any investment has some risk. It always seemed like a lousy idea to me, to be honest. "Hi, come work now and you'll get your money in 40 years." Uh, no, I'll take my money now thanks, and mange it myself.

yellowwitch1 (November 30, 1999 at 12:00 am)

Thats great, thanks!

quikesanjur (November 30, 1999 at 12:00 am)

in US they can use the money you pay for your pension to invest?!?!?!?!?! and if they lose the money you have being paying for nothing??? if its this way you are screwd... Im not sure, but I think in europe (or at least in spain) the only way of loosing your pension is with the apocalypse or something like that....