TSP Looking for Market Security 3/17/08

[Braveheart]

http://www.federaltimes.com/index.php?S=3429274

BTW - Don't ever call TSP and apologize pathetic and Mr. Long used it !!!!!

TSP board responds to global financial crisis
By GREGG CARLSTROM (gcarlstrom@federaltimes.com)
March 17, 2008
The board overseeing the Thrift Savings Plan is asking its investment manager to detail its efforts to provide market security for TSP funds, in light of the emerging financial crisis in the U.S. and abroad.
The Federal Retirement Thrift Investment Board made the decision at its regular monthly meeting this morning. Board members want to allay concerns about the long-term security of TSP funds, particularly in light of JPMorgan Chase’s heavily discounted buyout of investment firm Bear Stearns.
Most of the TSP funds — like their private-sector counterparts — have lost value this year. Total fund balances were off about $2 billion in February, the board was told.
Executive Director Greg Long also reported that staff is making progress in limiting the trading practices of several hundred of its most active investors.

Starting in April, the board plans to allow only two interfund transfers per month. Earlier this year, the board sent letters to more than 3,400 investors who exceeded the limit, asking them to curtail their trading. Long said only 549 investors did not limit their activity last month.
“Quite a few people didn’t realize their act was detrimental. They don’t do this for a living, after all,” Long said. “Some even called and apologized.”

[Braveheart]

I just picked up on this an wondered why does the TSP invite a reporter to a meeting about the Thrift Savings Plan which concerns all of us and yet he is allowed to report the slant and we have no say. Who invited Mr. Barr a reporter for the Washington Post and why ? Has anyone here received an invitation to attend a board meeting are they open to the public ?

Federal Diary Live

Stephen Barr
Washington Post Columnist
Wednesday, December 19, 2007; 12:00 PM


"Stephen Barr: My apologies for being tardy today. I've been in a meeting at the Thrift Savings Plan" :suspicious:

[Braveheart]

http://www.washingtonpost.com/wp-dyn/content/discussion/2008/03/16/DI2008031602297.html

DO NOT TRUST MR. BARR - WASHINGTON POST !!!


Read from the link above or even follow his reports there is one common factor his reports are slanted in favor of the TSP and the Board.

Best example look at when he's asked a question about the TSP he is defensive and then several times he shows his bias when anyone states their view in support of the new rules Mr. Barr will say THANK YOU. Now why would a reporter thank someone for supporting a new rule that doesn't concern them. Mr. Barr's job is that of a reporter unless he works for Fox News "Fair & Balanced" - what a joke. We might as well have a Q & A with Mr. Long IMO this reporter is not doing his job, Washington is full of corruption what makes Mr. Barr any different !!!

Best Example ---
Vienna, Va.:"I favor the new TSP restrictions. If people want do to active market trading, they are free to invest in privately run accounts. Why should my costs be raised because of the actions of a few people?" Hear hear! I do not want you to think that everyone out there is complaining about this change.
Stephen Barr: Thanks, Vienna.

[Braveheart]

http://www.washingtonpost.com/wp-dyn/content/discussion/2008/03/16/DI2008031602297.html

DO NOT TRUST MR. BARR - WASHINGTON POST !!!


Read from the link above or even follow his reports there is one common factor his reports are slanted in favor of the TSP and the Board.

Best example look at when he's asked a question about the TSP he is defensive and then several times he shows his bias when anyone states their view in support of the new rules Mr. Barr will say THANK YOU. Now why would a reporter thank someone for supporting a new rule that doesn't concern them. Mr. Barr's job is that of a reporter unless he works for Fox News "Fair & Balanced" - what a joke. We might as well have a Q & A with Mr. Long IMO this reporter is not doing his job, Washington is full of corruption what makes Mr. Barr any different !!!

Best Example ---
Vienna, Va.:"I favor the new TSP restrictions. If people want do to active market trading, they are free to invest in privately run accounts. Why should my costs be raised because of the actions of a few people?" Hear hear! I do not want you to think that everyone out there is complaining about this change.

Stephen Barr: Thanks, Vienna.

Re: TSP: I'm a financial economist with two masters degrees in finance. My TSP is in L-2040 and I never move it. Why? Because I have many years until retirement, and as I near retirement the money is auto-rebalanced for me -- and I also know that trying to "time" the market will, more times than not, hurt me. Heck, many co-workers were out of the market yesterday. As the famous infomercial about that rotating oven says "set it and forget it."

Stephen Barr: A good point. Some data collected several years ago showed that if an investor was out of the stock market for as little as two or three days when stocks soared, then they had lost out for the whole year. The lifecycle funds are a nice invention, because they rebalance to reduce risk as you near retirement. Best of luck!

The part of the TSP meeting Mr. Barr attended was CLOSED to the Public. Did he gain access over say you or me are the 4 Million members now considered the public but Mr. Barr is allowed to write his slant biased report and that is why he is allowed to be present when you or me would be locked out....Freedom of the Press if you are on their (TSP BOARD) side. He is the spokeperson for Mr. Long, the voice to spread his bias report but if your on his side you will get THANK YOU is that from Mr. Barr/Long.

[James48843]

Brave Heart-

I hate to say this, but, first of all, I don't know where you have been for the last five months.

I posted the federal register annoucement of the monthly Thrift Board meeting several days in advance of the meeting itself.

Here is the link: http://www.tsptalk.com/mb/showpost.php?p=155121&postcount=4

If you are in Washington D.C. - by all means please go and attend- and I will be happy to provide you with some literature for you to physically hand the TSP members. I myself have taken annual leave, and physically gone to Washington D.C. to lobby,- but- alas, the week I went was NOT the week they held their montly bord meeting.

Are you ready to go?

[Braveheart]

Brave Heart-

I hate to say this, but, first of all, I don't know where you have been for the last five months.

I posted the federal register annoucement of the monthly Thrift Board meeting several days in advance of the meeting itself.

Here is the link: http://www.tsptalk.com/mb/showpost.php?p=155121&postcount=4

If you are in Washington D.C. - by all means please go and attend- and I will be happy to provide you with some literature for you to physically hand the TSP members. I myself have taken annual leave, and physically gone to Washington D.C. to lobby,- but- alas, the week I went was NOT the week they held their montly bord meeting.

Are you ready to go?

I would love to go but not in my Medical Condition and the artile I gave the link for was from March 2008. That was less than 2 weeks ago.

Sometimes people don't know who the other person is but 5 months ago I was in the Hospital. I am paralyzed and there are many others here who are 100% disabled. They fought for this great Country to allow everyone the right to live in a Democracy with Freedom of Speech. We all have a voice and I will hound them all with letters.

I thank everyone who has done something to contribute to this cause and as long as I have a voice and can type I will do more than anyone could ever know. That is why I choose the name BRAVEHEART to me the name stands for Freedom against all odds as long as everyone is UNITED and willing to fight - God Bless Braveheart