• Font Size    
E-mail

Close Window E-mail This Page

McCain Proposes Suspending Mandatory Stock Sales

Required fields are marked with an asterisk(*)

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

   Print     Share +    Comments
Oct 10, 2008 10:15 am US/Pacific

McCain Proposes Suspending Mandatory Stock Sales

 Timeline: U.S. Credit Crunch & Financial Failures

 About The Candidates & Issues
LA CROSSE, Wis. (AP) ― John McCain proposed Friday that the elderly be allowed to hang on to the stocks in their retirement funds and not be forced to sell them in a bad market.

The Republican presidential candidate would suspend requirements that people start selling off retirement investments when they turn 70 and a half.

"Spare investors from being forced to sell their stocks just in time when the market is hurting the most," McCain said to cheers at a western Wisconsin rally. "We have to protect investors, particularly those who are relying on investments for retirement."

Retirees forced to sell stocks in the continuing market chaos are taking tremendous losses. The Dow Jones industrials dropped 21 percent of its value in 10 trading days, and swung wildly in early trading Friday while the financial crisis deepened globally.

McCain also told the crowd of his mortgage bailout plan. He said in his debate with Democratic rival Barack Obama on Tuesday that his administration would spend $300 billion to buy bad mortgages and help homeowners refinance into more affordable loans.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

Add Comment

here. here. Need a log in? Register here
  •  * Will not be displayed with comment
  •  * e.g. (http://www.mywebsite.com)
  •  
  • Click here to refresh with new letters

Show Comments (0)

Close Window Login


Close Window Flag Comment


loading...

© MMIX Sacramento Television Stations Inc. All rights reserved.