As buccaneers bilk our finance industry, as the Republican platform continues to pimp Wall Street, the NakedCapitalism blog is running a series on pension risk written by Leo Kolivakis.
When employers began turning 401(k)s into retirement plans, the financial community was not shy about promoting them. The prospect of trillions of dollars in the hands of unsophisticated investors opened the door for all sorts of potential abuses.
It’s disgusting and while America worries about “Al-Qaeda”, the real crime is happening right under their noses.
Public pension fund shakedown? If you ask me, it’s a shakedown of the entire public of unsuspecting investors who are getting fleeced by Wall Street crooks.