Rating services are not always a reliable investment source
Dear Mr. Berko: Our investment club has three questions. First, how is it that Standard & Poor’s can give Fannie Mae an A rating and four weeks later it declares bankruptcy? Second, what is the next big concern in the stock market? Could it be a possible rise in the cost of oil, a huge federal deficit, or higher taxes? What do you anticipate? Third, all of us are older than 74, and all of us take a required withdrawal from our independent retirement accounts. In my case, I must withdraw $9,700 this year. But I have huge losses in DuPont, Bank of America and closed-end funds too numerous to mention. One of our members said moving shares to another account could do it, and he thinks his brother did it in 2007. Can you explain this to us, because many of us would like to know how that works?
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