I really don't think that TXN is a good investment now. The charts show it is still falling. It's dangerous to catch a falling knife.
Also, I have read an unconfirmed report that TXN is not going to be giving pay raises at review time in 2009. I think that would be a big negative for the stock price. Still, it's just a rumor at this point.
Fear has taken hold. We have to wait to see where the bottom is.
As far as 401(k)s go, I don't know what to say. My view is to keep contributing until the handwriting is on the wall. Americans will be outraged if they try to steal our 401(k)s. And it would really be a one time deal. They would get the money, but no one would contribute any more.
Hey! It's still possible McCain will win, and we will have a known quantity to deal with.