Senior Savings

Subject: Senior Savings Mon Dec 23, 2013 12:19 pm

Hey, where's that thread where I said that eventually our pensions, iras, 401ks and other retirement savings could be nationalized? Am I prescient or what? It's starting.

http://www.forbes.com/sites/realspin/2013/12/23/financial-repression-from-the-obama-administration-how-savers-may-be-forced-to-buy-federal-debt/

And as predicted, this is the cover reason given:

“In recent years, federal and state regulators, financial industry representatives and consumer groups have been reporting that some financial advisers with senior designations are targeting older consumers and selling them inappropriate and sometimes fraudulent financial products,” warned the report.

Subject: Re: Senior Savings Mon Dec 23, 2013 2:50 pm

The article starts with:
"some experts"

Which experts? Who?

This article smells of conspiracy fear mongering.

Subject: Re: Senior Savings Mon Dec 23, 2013 3:01 pm

Why are officials in our government even talking about it? You calling a report on it "fear mongering" ignores/deflects the fact that Cordray shouldn't even talking about this.

Subject: Re: Senior Savings Mon Dec 23, 2013 4:49 pm

It has long been a topic - how do you think we got 40lK's in the first place? It was the power of the banking industry lobby.

Subject: Re: Senior Savings Mon Dec 23, 2013 5:44 pm

I'm not understanding your comment at all. Are you saying that nationalization of our 401ks, IRAs and pensions has been discussed for a long time? Are you saying that when the banking lobby instigated 401ks for us, the intent was to eventually confiscate them?

I do not want to hand my retirement savings over to the federal government and be forced to buy national debt instruments with it. If I want those, I'll buy U.S. Bonds (a terrible investment).

Subject: Re: Senior Savings Mon Dec 23, 2013 6:26 pm

You can rest assured that the power of the banking industry lobby will make sure that they have their hands in it, raking in the fees and management charges. The hoopla over the Obamacare is a drop in the pond compared to what the banking industry power would play in such a plan.

Subject: Re: Senior Savings Mon Dec 23, 2013 7:00 pm

I'm sure the banking industry WOULD benefit from fees. So are you agreeing w/ me here, that nationalization is on the horizon?

Subject: Re: Senior Savings Tue Dec 24, 2013 5:59 am

I don't doubt that the discussion continues. I do not believe it will happen in my lifetime.

Subject: Re: Senior Savings Tue Dec 24, 2013 7:32 am

LC wrote:: I'm sure the banking industry WOULD benefit from fees. So are you agreeing w/ me here, that nationalization is on the horizon?

No. Like DK said, it won't happen in our lifetimes. It's right wing paranoia.

Subject: Re: Senior Savings Tue Dec 24, 2013 7:43 am

twm wrote:

LC wrote:: I'm sure the banking industry WOULD benefit from fees. So are you agreeing w/ me here, that nationalization is on the horizon?

No. Like DK said, it won't happen in our lifetimes. It's right wing paranoia.

I agree.

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