New site for TSP info

Check out tsper.com for a portal to the world of TSP related stuff

TSP voting privileges

The Federal Employees’ Retirement System Act of 1986 (and the accompanying conference report), which established the TSP, prohibited the Board (and TSP participants) from voting proxies in the firms whose stocks make up the TSP stock index funds.

Barclays, nowever, (as the asset management contractor) is directed by the Board to “Vote all proxies and address all corporate actions in a manner which will result in maximum financial benefits to TSP participants and in accordance with fiduciary responsibilities.” So how does Barclays decide what will result in the max financial benefits for TSP investors? Is there a record of their votes anywhere?

the casino managers step in with reassuring words

As the week comes to an end, it is great to listen to the talking heads on Bloomberg, etc. frame the losses of the week in positive terms. "This is a good thing" "Bring people back to reality" "Maybe a bit more downside movement but we'll be back on track soon enough" We shall see...

Whew

Well I tried not to notice but world stock markets dropped on Tuesday by a bunch...Was it Greenspan's "recession" comment, perhaps the troubles in the sub-primeslending market or the drop of Chinese stock prices...perhaps all of the above combined with the general jitteryness of money managers. Is this the correction people have been speculating about for months? Who knows but we should find out over the next couple of weeks.