Liberally Conservative

"Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same, or one day we will spend our sunset years telling our children and our children's children what it was once like in the United States where men were free....... ~Ronald Reagan~

Thursday, April 14, 2005

Attic Knaves of The Day!

While AARP says private stocks are too risky for individuals to invest their retirement savings, the multibillion organization has no problem making millions off those same "risky" investments. As reported in the Washington Times, AARP's 2003 financial statement reports income of $770 million. While $211 million came from member dues, more than $300 million was derived from royalties and management fees. This includes about $50 million reported as "investment income." As part of its extensive package of income-generating services, AARP promotes stock and bond investing by selling 38 mutual funds to its membership and taking a cut from each sale. The Risk Kicker? AARP funds include investments in junk bonds, Latin American stocks and volatile markets such as Russia. AARP is not only misleading the public it's committing fraud.

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