The Worst Investments In American History — The Monte Carlo Circus
Pensions and 401(k)s? The Bailout Fund For The United States Government
By: Christopher Roman
As described by the “Father of the 401(k)” Ted Benna: the 401(k) “helped open the door for Wall Street to make even more money than they were already making.”
What are these financial instruments that focus on retirement savings in the United States, anyway?
Generally, retirement savings derivatives are focused on “lock-up agreements” that deny the participants access to their capital. And most importantly, they defer tax settlements with the government to a point in the uncertain future. A future where the federal tax rate will be somewhere in geosynchronous orbit. Better known in America as a 401(k).
The fact is, 401(k) pools are gold mines to some of the largest financial institutions in the world. They have spent billions in marketing these “shit” products. Over many years, they have carefully managed these derivatives…
