US combat troops in Iraq battle to defend savings

[Barrett808]

Source: AFP

US combat troops in Iraq battle to defend savings
by Karim Talbi

CAMP SPEICHER, Iraq (AFP) – US Lieutenant Colonel Mark Grabski has been busy on the computer over the past few weeks -- not to follow the history-making presidential election but to check on his dwindling savings.

"I had a list of icons, my favourites, the funds that are working with Thrift savings programme. Every single day, their rates were just collapsing," said the officer posted at Camp Speicher, north of the Iraqi capital.

"Virtually, I've lost right now tens of thousand of dollars," said the 31-year-old who is in charge of criminal inspections of the base.

Grabski said a third of his salary goes into Thrift, an additional pension scheme for US civil servants and soldiers. "I've lost 30 percent of my savings in this programme due to the financial crisis."

Army pensions are meant to pay out 50 percent of the salary of soldiers with 20 years of service and 75 percent for 30 years, but many rely on the Thrift programme to further secure their retirement.

Read more: http://news.yahoo.com/s/afp/20081108/ts_alt_afp/iraquseconomyarmy

[benld74]

1. You can invest in 4 different funds

G- government securities
C- pure stocks
F- fixed bonds
I - oversea funds

When BUSH came into office I placed ALL of my 20 years worth of TSP savings INTO the G fund(SAFE). People were ravings about how high their TSP was. SINCE the BIG ONE HIT, I lost aroung 10 K out of my TSP fund. The others, well,,,,

[qwlauren35]

2. I would have hoped that they would somehow be exempt...

from this financial crisis.

But every time I turn around, it seems as thought no one in the US is getting a worse shaft than our troops and veterans.

There are so many things that Bush has done, it's hard to rank them, but shafting the troops is high on my list.

[bluesmail]

3. As it turned out, not even our troops in Iraq are exempt

Global Recession. I suppose Darth is doing quite well, Here's to hoping a court with jurisdiction can find his billions and put a lien on it. (What a job, finding the billions of bullion.)