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Because Wall Steet has too much influence in Washington. They should have to compete with Banks witin the same 401K. I have zero tolerance for risk, but if I want safety, I get screwed. In my 401K I can't get anything guaranteed over 3% and I have to lock it up for ten years or be penalized. Yet, I can more than 4% on my own in a checking or savings account for goodness sakes, and over 5% in a CD.... courtesy ING Orange.
The working may is screwed again, but the CEO's dont have to rely on the 401K. They hand pick the board and compensation committee and give themselves some 'golden handcuff's' insurance policy and golden parachute and bla, bla, bla. It ain't right. |
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