When is the last time you checked your fabulous 401(k)?

Did you think your company was offering you a benefit?

Are you aware that you were offering your company a huge tax break.

How do you think Microsoft and Cisco get out of paying $50 Million in taxes regularly.
In fact Cisco has been able to get a tax return from the government. Yep, its true.

Corporate America would like to take this time you say,
THANK YOU AMERICAN PEOPLE
for taking all the risk and leaving us only benefit.
Besides, your government is out for your best interest, right? Who can you trust more?
Don’t worry everything is under [puppet] control.

If there is anything left in your 401(k) and you don’t know what to do, please CONTACT ME ASAP!
We will save what ever you have left- if any.

Now read why Warren Buffet panicked.
Buckle up, it is very intense.

Here is an article from money and markets:
Lehman rumored on the brink! What next?
by Martin D. Weiss, Ph.D.

Head’s up: This coming Friday, Mike and I are issuing a whole new set of blockbuster recommendations for fool-proof protection and massive profit potential in this rapidly evolving crisis. To join us, the deadline is Wednesday, April 2.

For the details — and an update on the latest events — be sure to read my double-length gala edition below …

Dear Subscriber,
Martin D. Weiss, Ph.D. and Irving J. Weiss

Rumors were flying last week that Lehman Brothers could be the next major Wall Street firm to fail — largely due to derivatives.

If true, all heck could break loose next week — with the dollar crashing and commodities soaring.

Plus, I want you to know this mess did not develop overnight.

Back in 1994, when Dad and I studied the charts on derivatives held by major U.S. banks, we were shocked to see they had grown to $15.7 trillion, and we wrote extensively about the dangers they posed.

A few months later, in a landmark report, the Government Accountability Office (GAO) warned sternly and vehemently about the very same dangers.

The GAO warned about the risk of “abrupt failures or withdrawal from trading” in derivatives.

It warned about “linkages [between firms] that could cause any financial disruption to spread faster and be harder to contain.”

It even wrote about “system risk” — the threat derivatives posed to the entire U.S. financial system.

That was nearly a decade and a half ago.

But in the years that followed, rather than respond with steps to restore a semblance of prudent balance to our financial markets, all of Wall Street banded together, derided the GAO report, and set into motion a derivatives boom that made all previous booms appear tiny by comparison.

End result: Now, instead of $15.7 trillion, the Comptroller of the Currency (OCC) reports that the total notional value of derivatives in the hands of U.S banks is $172.2 trillion. In other words,

Since the day the GAO warned that these derivatives could derail our financial system, they have grown eleven-fold.

Right now, according to the OCC, just five major U.S. commercial banks control 97% of all the bank-held derivatives in the United States, a concentration of power — and risk — unsurpassed in the history of finance.

Four of these banks — Bank of America, Citibank, JPMorgan Chase, Wachovia, and HSBC — have more credit exposure to derivatives defaults than they have in capital.

And among them, the U.S.-based bank taking the most risk (based on the OCC’s data) is precisely the same one that has swallowed up the failed Bear Stearns — JPMorgan Chase. Here are the facts:

* JP Morgan’s exposure to credit risks associated with derivatives is now 416% of its capital.

* JP Morgan alone controls $91.7 trillion in derivatives. That’s over five times more than the total derivatives on the books of all U.S. banks when the GAO issued its warnings back in 1994.

* JP Morgan now has an astonishing 53% of the entire U.S. derivatives market today. This means that:

In the labyrinthine world of derivatives, all roads lead to Morgan. And no matter which Wall Street firm is — or is rumored to be — in trouble, JP Morgan Chase will be directly and immediately impacted.

So now do you understand why the Fed was so desperate to bail out Bear Stearns two weeks ago? And now do you see why JP Morgan was the bank that immediately stepped up to the plate to take over?

It was pure self defense. And they had no choice.

That’s also why Fed Chairman Ben Bernanke tore up the entire rule book of a half-century of Fed policy in a single weekend. And that’s why he will continue to crank up the printing presses … slash interest rates … and do everything in his power to throw billions of newly created, unbacked paper dollars into the economy.

Meanwhile, despite all of his efforts, this week’s reports proved that the nation’s manufacturers are slashing their orders … home values are continuing to plunge nationwide … millions of homeowners are still defaulting on their mortgages … and the credit crisis continues to spread.

But in his desperation to prevent a Wall Street meltdown and paper over the credit crisis, Mr. Bernanke is creating an even greater problem …
The Worst U.S. Dollar Plunge in History

The U.S. Dollar Is Now Suffering
Its Worst Plunge in History

Just in the last few days, a minor rally in the dollar has evaporated, and the long plunge in the U.S. dollar — the worst in history — has resumed.

The simple fact is that money is just like every other commodity: It operates on the law of supply and demand.

When the supply of money — in this case, the U.S. dollar — surges, its value falls. Put simply, every new dollar the Fed is creating right now to rescue the likes of Bear Stearns or to save the economy — is reducing the value of every other dollar in circulation:

Every dollar in your paycheck …

Every dollar in your savings accounts …

Every dollar you invest …

Every dollar you have socked away for retirement.

Now, the Fed is printing money like there’s no tomorrow. And as those hundreds of billions of new dollars come home to roost, they’re turning the once-proud greenback into the laughingstock of the currency world.

That’s why — for the first time ever — many economists are beginning to fear the nightmare scenario: The day when foreigners, who own more than $7 trillion in U.S. dollars simply say, “enough!”

When that happens — when foreigners stampede for the exits — all heck could break loose. The rapid decline we’ve seen in the dollar’s value so far will turn into a full-fledged crash with the power to cut your buying power in half.

Credit: moneyandmarkets.com

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