Morpheus's picture

Treasury and Labor Put Out Feelers Regarding Stealing Your 401K

Davos. Holy cow. That didn't take long, did it!!!!!!!!!!!

You did the responsible thing. You saved in your IRA or 401(k) to support your retirement, when you could have spent that money on another vacation, or an upscale car, or fancier clothes and jewelry. But now Washington is developing plans for your retirement savings.

BusinessWeek reports that the Treasury and Labor departments are asking for public comment on "the conversion of 401(k) savings and Individual Retirement Accounts into annuities or other steady payment streams."

rowmat's picture

Goldman Sachs Loses Grip on Its Doomsday Machine

Golden Stacks.... a victim of theft? - Oh no!

Original Bloomberg article

[quote: Bloomberg]

Goldman Sachs Loses Grip on Its Doomsday Machine - (emphasis mine)

July 9 (Bloomberg) -- Never let it be said that the Justice Department can’t move quickly when it gets a hot tip about an alleged crime at a Wall Street bank. It does help, though, if the party doing the complaining is the bank itself, and not merely an aggrieved customer.