Schwab: Low rates are "starving our seniors"

03/30/2010 | Wall Street Journal, The

Charles Schwab, founder and chairman of Charles Schwab Corp., writes that low interest rates are hurting seniors and other savers. "For a large segment of our population -- people who worked long and hard, who followed the rules by spending less than they earned and putting the remainder away to keep themselves independent in retirement -- the ultra-low interest rate is more than a hardship," Schwab writes. "It's a potential disaster striking at core American principles of self-reliance, individual responsibility and fairness."

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